Pension Risk Transfer Senior Contract Analyst

RGA • United States, NY

16h • Hybrid

About The Position

You desire impactful work. You’re RGA ready RGA is a purpose-driven organization working to solve today’s challenges through innovation and collaboration. A Fortune 200 Company and listed among its World’s Most Admired Companies , we’re the only global reinsurance company to focus primarily on life- and health-related solutions. Join our multinational team of intelligent, motivated, and collaborative people, and help us make financial protection accessible to all. Experienced contract analyst specializing in the development and issuance of group annuity contracts sold by RGA to employers purchasing group annuity benefits for participants of its defined benefit plans. The contract analyst demonstrates proven experience to deliver detailed and complex benefit summaries, commitment agreements, contracts and certificates for pension risk transfer transactions. Effectively communicates with management, internal partners, clients, and state regulators to resolve problems, find solutions and report results. Principle Duties Analyze complex bid specifications and detailed census data in order to draft benefit summaries in tailored PRT proposals. The PRT proposals are prepared in response to RFPs from plan sponsors of qualified defined benefit plans that will be purchasing annuities for its pension benefit obligations. Work with multiple RGA business teams to prepare, review and edit commitment agreements negotiated between RGA and attorneys representing employers selecting an insurance company for the PRT transaction. The insurer selection is done through a time sensitive competitive quote process. A dollar amount of single premium for group annuity contract for a PRT transaction varies greatly, up to a multi-billion-dollar premium. Draft group annuity contractual forms and annuity certificates supporting new sales for RGA’s Institutional Markets, however highly focused on PRT. These contractual documents may be issued to employers who purchased group annuity benefits solely with RGA or for PRT transactions that are split between RGA and another insurance company. Drafting the forms requires soliciting, coordinating, and finalizing input from the PRT contract team leadership, internal RGA business partners, as well as negotiated changes requested by the contract holder. Prepare subsequent amendments for executed commitment agreements and contracts, as needed. Facilitate the distribution and review of draft legal document such as non-disclosure agreements. Coordinate and submit all state regulatory and Interstate Insurance Product Regulation Commission filings, including, but not limited to, group annuity contracts, certificates, amendments, business entity annual certifications, and annual registration forms utilizing the System for Electronic Rates and Form Filings (“SERFF”). Maintain and manage efficient version control of documents during review and negotiation. Maintain appropriate archive of all PRT executed contracts. C ollaborate with the PRT contract team and internal business stakeholders to develop, implement and maintain regulatory compliance policies and procedures.

Requirements

• Bachelor’s Degree in Arts/Sciences (BA/BS) or equivalent experience, required
• 10+ Years of insurance contract, compliance, legal experience, or defined benefit plan development.
• Knowledge of defined benefit plans and PRT business
• Knowledge of relevant legal & regulatory environments
• Expert ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines.
• Excellent written and verbal communication skills with competency in grammar, spelling, and punctuation.
• Expert ability to undertake multiple projects and tasks simultaneously in a high-pressure work environment
• Ability to respond appropriately and professionally to insurance department analysts and examiners.
• Ability to work well both independently and in a team environment across a global organization
• Legal background; understanding of pension benefits and regulation
• Demonstrated research and problem-solving skills
• Exceptional attention to detail
• Customer service focus
• Ability to understand and negotiate RGA and client business objectives, governing laws, and regulations in order to design legal contracts
• Ability to demonstrate thought leadership within their area of expertise

Nice To Haves

• Advanced degree(s) or Law Degree, preferred
• Paralegal Certificate from accredited institution, preferred
• Experience using SERFF and legal research services, such as Lexis Nexis, preferred.
• Experience researching state insurance laws, regulations, and relevant tax law, preferred.

Responsibilities

• Analyze complex bid specifications and detailed census data in order to draft benefit summaries in tailored PRT proposals.
• Work with multiple RGA business teams to prepare, review and edit commitment agreements negotiated between RGA and attorneys representing employers selecting an insurance company for the PRT transaction.
• Draft group annuity contractual forms and annuity certificates supporting new sales for RGA’s Institutional Markets, however highly focused on PRT.
• Prepare subsequent amendments for executed commitment agreements and contracts, as needed.
• Facilitate the distribution and review of draft legal document such as non-disclosure agreements.
• Coordinate and submit all state regulatory and Interstate Insurance Product Regulation Commission filings, including, but not limited to, group annuity contracts, certificates, amendments, business entity annual certifications, and annual registration forms utilizing the System for Electronic Rates and Form Filings (“SERFF”).
• Maintain and manage efficient version control of documents during review and negotiation.
• Maintain appropriate archive of all PRT executed contracts.
• Collaborate with the PRT contract team and internal business stakeholders to develop, implement and maintain regulatory compliance policies and procedures.

Benefits

• Gain valuable knowledge from and experience with diverse, caring colleagues around the world.
• Enjoy a respectful, welcoming environment that fosters individuality and encourages pioneering thought.
• Join the bright and creative minds of RGA, and experience vast, endless career potential.
• RGA also maintains a full range of health, retirement, and other employee benefits.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees