Lead Analyst, Contracts

$99,300 - $147,700/Yr

Prudential Financial - Newark, NJ

Part-time - Mid Level

Hybrid - Newark, NJ

Insurance Carriers and Related Activities

About the position

The Contracts Lead Analyst at Prudential is responsible for ensuring contract compliance for new development and in-force state-filed documents. This role involves drafting complex contracts, coordinating with internal partners, and providing oversight and quality checks of contract specialists' work. The position requires a hybrid work arrangement with on-site presence as determined by business needs.

Responsibilities

• Draft complex, legally defendable contracts, amendments, endorsements, riders, certificates, agreements, and/or bank trust documents as necessary.
• Draft documents to support changes for in-force business, including the development of non-standard language.
• Define system requirements for contract composition and issuing rules.
• Perform regulatory monitoring and identify regulation changes that impact contract language for new and in-force products.
• Conduct contract research on in-force block of contracts and provide opinions on contract interpretation and filing strategy.
• Coordinate with the Regulatory Team to implement changes.
• Prepare and submit documents to state insurance departments and the Interstate Compact for approval.
• Maintain relationships with state regulators.
• Coordinate with internal partners to develop technical responses to state department inquiries and review Contract Specialist's responses prior to submission.
• Maintain precise documentation of filing status, state variations, testing status, and other required documentation.
• Perform a review function and provide technical guidance for documents prepared by contract specialists.
• Coordinate workflow, respond to regulator questions, train new associates, and manage special projects.
• Support an internal mailbox and respond to inquiries within a defined service level of 24 hours.
• Perform special projects to support internal partners, including special research projects and consolidating contract language.
• Coordinate comprehensive unit, UAT, and post-issue validation testing of contract packages.

Requirements

• 4-7 years' relevant experience in drafting and the state filing of Annuities or Variable Life Insurance required.
• Product and Compliance knowledge of the annuity product line of business.
• Bachelor's degree or equivalent experience.
• Strong communication and presentation skills.
• Exceptional collaboration skills and ability to partner with various functions and levels, including Sales, Service, IT, Control, and Actuarial functions.
• Strength of convictions and ability to influence decisions and champion product administrative or operational changes.
• Solution-oriented with strong problem-solving skills and ability to leverage resource materials to support decisions.
• Solid organizational skills with the ability to develop and execute plans.
• Ability to effectively manage several dissimilar deliverables and prioritize.
• Ability to work independently, as part of a team, or lead a team.
• Excellent technical financial services product knowledge.
• Ability to collaborate effectively with multiple levels within the internal organization.

Benefits

• Market competitive base salaries with yearly bonus potential.
• Medical, dental, vision, life insurance, and disability insurance.
• Paid Time Off (PTO) and leave of absences, such as parental and military leave.
• Retirement plans: 401(k) plan with company match (up to 4%) and company-funded pension plan.
• Wellness Programs with reimbursement for personal wellbeing needs.
• Work/Life Resources for support on various topics.
• Tuition Assistance for traditional college enrollment and accredited certificate programs.
• Employee Stock Purchase Plan at a discount after one year of service.