Associate, Regulatory Annuity Product Compliance at Global Atlantic Financial Group

Des Moines, Iowa, United States

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Not SpecifiedCompensation

Junior (1 to 2 years), Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

Seven or more (7+) years of experience in the annuity and/or life insurance industry with preference of three or more (3+) in a legal, compliance or product development related function
Strong knowledge of insurance products and sales practices, and the ability to comprehend regulatory changes. Knowledge and experience in annuity, 401K annuity, pension risk transfer, and/or funding agreement experience preferred
Exceptional communication abilities to articulate complex requirements verbally and through technical writing, along with negotiation and interpersonal skills
Familiarity with key aspects of insurance administration
PC skills, including experience with Microsoft Office, Adobe Professional and other applicable software
A working knowledge of regulatory requirements as they pertain to life insurance and annuities and experience with SERFF

Responsibilities

Draft contract provisions for new products, with a primary focus on retail annuity products, through collecting and coordinating business requirements from the internal product implementation, actuarial, legal, compliance, operations, and sales teams
Develop project timelines and tasks for state product submissions and set expectations for the state approval timelines for the business
Analyze legal standards of state insurance laws and/or Interstate Insurance Product Regulation Commission standards in relation to new product development initiatives including impacts to policy and contract form language
Correspond and negotiate with state regulators on objections to product submissions and prepare responses
Oversee and prepare new product submissions in SERFF and proactively seek ways to streamline the submission process to decrease time between submission and approval
Review, file, and gain approval, where required, of consumer advertising and enterprise branding initiatives
Partner with our internal marketing team to ensure that final consumer advertising is aligned with requirements of the contract
Maintain record of regulated forms history; coordinate with business areas to ensure proper forms are available and used
Support new product implementation efforts by providing final disclosure and contract language requirements
Support internal operations and third-party administrators to ensure products continue to function in accordance with policy/contract language for all in-force policies
Maintain professional contact with state insurance departments, the Interstate Insurance Product Regulation Commission and other insurance professionals throughout the country

Skills

Key technologies and capabilities for this role

Contract DraftingRegulatory ComplianceInsurance Product DevelopmentState FilingsRegulatory NegotiationLegal AnalysisProject TimelinesBusiness Requirements GatheringAnnuity ProductsFixed AnnuitiesFixed Index Annuities

Questions & Answers

Common questions about this position

Is this role remote or based in a specific location?

The role is based in Des Moines, Iowa, as part of the Retail Insurance Legal team located there.

What are the main responsibilities of this position?

Responsibilities include drafting contract provisions for retail annuity products, developing project timelines for state submissions, analyzing state insurance laws, negotiating with regulators, and overseeing SERFF submissions.

What skills or experience are required for this role?

The role requires skills in drafting insurance contracts, knowledge of state insurance laws and SERFF submissions, coordination with cross-functional teams like actuarial, legal, and sales, and experience negotiating with state regulators.

What is the salary or compensation for this position?

This information is not specified in the job description.

What kind of experience makes a strong candidate for this role?

Strong candidates will have experience in insurance product compliance, particularly with annuities, knowledge of state regulations and SERFF, and the ability to coordinate across legal, actuarial, operations, and sales teams while negotiating with regulators.

Global Atlantic Financial Group

Provides capital and risk management solutions

About Global Atlantic Financial Group

Global Atlantic Financial Group specializes in providing capital and risk management solutions for global retirement and life insurance companies. They offer products like annuities, which provide a steady income stream for retirees, and focus on building long-term partnerships by understanding their clients' financial goals. The company generates revenue through fees and premiums from their financial products and emphasizes a culture of integrity and commitment to clients and communities. Their goal is to create tailored solutions that meet the specific needs of their clients.

New York City, New YorkHeadquarters

2004Year Founded

$986.7MTotal Funding

BUYOUTCompany Stage

Fintech, Financial ServicesIndustries

1,001-5,000Employees

Benefits

Health Insurance

Life Insurance

Disability Insurance

401(k) Retirement Plan

401(k) Company Match

Mental Health Support

Wellness Program

Flexible Work Hours

Hybrid Work Options

Risks

Economic downturns could impact the preneed insurance market with SCI.

Technical challenges may arise from new standardized messaging systems.

Reliance on third-party tech solutions poses potential security vulnerabilities.

Differentiation

Global Atlantic excels in investment and risk management within the insurance industry.

The company has strong institutional partnerships, enhancing its client-centric approach.

Global Atlantic's affiliation with KKR provides a robust financial foundation.

Upsides

Partnership with SCI positions Global Atlantic as a leader in preneed insurance.

Adoption of Sonrai Security's technology enhances operational efficiency and security.

Public-private investment solutions align with Global Atlantic's innovative capital strategies.

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