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Senior Contract Development Consultant II

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Date Posted: Jun 17, 2022

Location(s): New York, NY, US, 10166 Bridgewater, NJ, US, 8807 Remote, US, 0

Company: MetLife

Location: New York, NY

Alternate Location: Bridgewater, NJ; Remote, USA

 

Role Value Proposition

For over 150 years, MetLife has continuously sought to make a meaningful impact in the lives of our customers and our communities.  Today, MetLife continues its purpose “Always With You, Building a More Confident Future”.  
The Retirement & Income Solutions (“RIS”) business is part of MetLife’s U.S. Business.  RIS delivers business-to-business retirement and benefit funding solutions in specialized financial and insurance markets.  

 

RIS is a leading provider of longevity reinsurance for United Kingdom based employers, stable value products, structured settlements, annuities for employer sponsored plans and life insurance funding products. As part of the RIS Contracts team, this role works closely with the product, sales and legal teams to develop (and file, when applicable) reinsurance agreements, contracts and related documents for new and existing products. 

 

This role is primarily responsible for working with the Longevity Reinsurance business by developing and reviewing reinsurance agreements, treaties, and performing both regulatory and product research.  A secondary facet of this role will be to support other businesses within the RIS organization by developing contract forms, filing with regulatory authorities, reviewing peer work, and managing projects as a seasoned contract development specialist.  

 

Key Responsibilities 

  • Prepare complex detailed documentation including reinsurance agreements, treaties, schedules and related documents for prospective longevity reinsurance opportunities in a fast-paced deadline driven environment. 
  • Provide support and technical analysis in the translation of contract terms to support operational processes.
  • Supporting the Longevity Reinsurance business through analysis of new markets and opportunities.
  • Provide technical support in analysis of critical new product ventures by performing research and due diligence and communicating implications to stakeholders. 
  • Develop and issue forms ranging from complex product structures to highly complex and hybrid product structures to support new and existing products within RIS. Determine variations in forms to ensure compliance with applicable laws and regulations.
  • Prepare filing submission documentation, prepare responses to insurance regulators’ questions and requests, and negotiate approvals with state insurance departments for products ranging from complex to highly complex and hybrid products, address complex non-standard assignments and devise solutions without precedent. Establish a strong working relationship with insurance regulatory personnel to secure timely approvals that address product and compliance needs.
  • Assist in the analysis of proposed and enacted laws and regulations to identify required compliance activities. 
  • Demonstrate high level of impact and influence when collaborating with other internal MetLife departments or when negotiating with state insurance departments.
  • Research and respond to internal and external customer questions regarding contract features and compliance. 
  • Coordinate cross-functional projects; lead and assist on special initiatives requiring project management skills, as required.
  • Collaborate with team to develop and maintain best practices from an efficiency and governance point of view.
  • Provide training and technical support to team members, as required.
  • Provide support to other lines of business as required.

 

Essential Business Experience and Technical Skills:

 

Required:

  • Bachelor's degree or equivalent business experience.
  • Proficient in MS Office suite and Adobe Acrobat.
  • Strong analytical, problem solving and research skills to handle complex issues.
  • Attention to detail, organizational skills and the ability to multitask.
  • Self-motivated, flexible and enthusiastic.
  • Excellent oral and written communication skills with ability to engage constructively with associates of various disciplines and levels as well as with insurance department regulators.
  • Outcome-focused and deadline oriented.
  • Strong interpersonal relationship skills in order to maintain positive working relationships with associates and business partners.
  • Strong interest in identifying and researching opportunities for continuous improvement, including digital/automated business solutions, integrating technology and process improvements. 
  • Expert level of contract knowledge and advanced technical writing skills and understanding of the insurance industry and product lines.
  • Knowledge of and/or prior experience in the longevity reinsurance marketplace.
  • Knowledge of the regulatory requirements and procedures for the development and filing of compliant contract forms associated with longevity reinsurance, group life and annuity business.
  • Experience with using SERFF.
  • Interest in managing projects and reviewing work.
  • Strong customer focus.

 

Preferred

  • JD, paralegal or similar legal experience
  • 8+ years of solid contract development, compliance, paralegal or relevant business experience; Or 3+ years as attorney.
  • Ability to interact and work collaboratively and constructively with people at various levels within RIS, legal counsel and with regulators at state departments of insurance.
  • Knowledge of Pension Risk Transfer business, defined benefit plans and ERISA is a plus

 

The wage range for this position specific to Colorado is $85,700 - $114,300.  The role is eligible for incentive compensation under the MetLife Annual Variable Incentive Plan ("AVIP").  Your eligibility for and award of incentives are governed by the terms of the plan. MetLife offers a comprehensive benefits program that includes Medical, Dental, Life, Vision plus Retirement benefits and Paid Time Off.

 

Travel

0-5%

 

Business Category

Retirement & Income Solutions

 

Number of Openings

1

 

"At MetLife, we’re leading the global transformation of an industry we’ve long defined. United in purpose, diverse in perspective, we’re dedicated to making a difference in the lives of our customers.” 
 

MetLife:

 

MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.

 

We are one of the largest institutional investors in the U.S. with $642.4 billion of total assets under management as of March 31, 2021. We are ranked #46 on the Fortune 500 list for 2021. In 2020, we were named to the Dow Jones Sustainability Index (DJSI) for the fifth year in a row. DJSI is a global index to track the leading sustainability-driven companies. We are proud to have been named to Fortune magazine's 2021 list of the "World's Most Admired Companies." 

 

MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world.

We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife.  For further information about how to request a reasonable accommodation, please click on the Disability Accommodations link below.

 

MetLife maintains a drug-free workplace.


Nearest Major Market: New York City