12 days old

Policy Compliance Specialist - Life Insurance - PRO000OM

Newark, NJ
  • Job Code
Primary Location United States-New Jersey-Newark (NJ)

Our Business

For over 100 years, Prudentials diverse and talented employees have been committed to helping customers and their families grow and protect their wealth through a variety of products and services.   We are known for delivering on our promises and are recognized as a trusted brand and one of the worlds most admired companies.


The Team

The Contract Specialist is part of the Product Solutions team in the Individual Life Insurance organization.  Our group is responsible for drafting policies that are in compliance with regulatory, product and business requirements. We work with Product, Actuarial, Legal and other areas to ensure products are filed and approved with the Compact and non-Compact jurisdictions in a timely and accurate manner.  Members of our team are located in both Newark, NJ and Hartford, CT.


The Role

The Contract Drafter will report to the Director of the Contract Drafting team and is responsible for ensuring contract compliance for new development and in-force state-filed documents while supporting internal partners and coordinating contract development with cross functional project leads. This includes drafting contracts, riders, endorsements, amendments and other state regulated forms, defining requirements and providing oversite and quality checks of contract specialists work. Additional responsibilities include:


  • Draft legally defendable contracts, amendments, endorsements and riders that comply with applicable laws and regulations and meet the product design and marketing needs for new and in-force products

  • Prepare documents to support changes for in-force business which includes the development of non-standard language

  • Perform regulatory monitoring and identify regulation changes that impact contract language for new and in-force products

  • Prepare and submit documents to state insurance departments and the Interstate Compact for approval

  • Coordinate with internal partners to develop technical responses to state department inquiries and may review Contract Filers response prior to submission

  • Responsibilities may include workflow coordination, responding to regulator questions, training new associates and special projects


    Your Expertise

    What youll need to succeed: 

    • 3-6 years of relevant experience drafting and state filing of life insurance or annuities

    • Product and Compliance knowledge of the life insurance or annuity product line of business is required

    • Bachelors degree is preferred

    • Strong communication and presentation skills

    • Exceptional collaboration skills and ability to partner with a wide variety of other functions and levels, including Product, Service, IT, Control and Actuarial functions

    • Clear and concise verbal and written communication skills; ability to understand, explain and write complex technical material

    • Must have solid organizational skills with the ability to develop and execute plans

    • Ability to effectively manage and prioritize several dissimilar deliverables

    • Capable of working independently and as part of a team

    • Proficient in Word and Excel

    Itd be a plus if you have:  

    • Experience working with SERFF


@!*!Prudential is a multinational financial services leader with operations in the United States Asia Europe and Latin America. Leveraging its heritage of life insurance and asset management expertise Prudential is focused on helping individual and institutional customers grow and protect their wealth. The companys well-known Rock symbol is an icon of strength stability expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services including life insurance annuities retirement-related services mutual funds asset management and real estate services. For more information please visit www.prudential.com.

Prudential is not accepting unsolicited resumes from search firms for this open position unless contracted with Staffing. Agencies must work with Staffing as the primary point of contact and follow the Prudential application process to be considered for business. All resumes submitted by search firms to any employee at Prudential via-email Internet or directly to hiring managers in any form without a valid written search agreement in place for that position will be deemed the sole property of Prudential and no fee will be paid in the event the candidate is hired by Prudential.
Note: Any search agreement entered into with Prudential before January 2004 is null and void. Search firms are essential to the recruitment and staffing efforts at Prudential and we value the partnerships we have built with our preferred vendors. Prudential has established and regularly maintains a preferred vendor list and even preferred vendors need to have a written search agreement signed by the Director Recruiting Programs Staffing at Prudential in place for the specific position in order for a fee to be paid for any candidate referrals.
Job Posting:@false


Posted: 2020-06-23 Expires: 2020-07-23

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Policy Compliance Specialist - Life Insurance - PRO000OM

Newark, NJ

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