Lead Analyst, Contracts

$99,300 - $147,700/Yr

Prudential Financial - Shelton, CT

Full-time - Mid Level

Hybrid - Shelton, CT

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 various contract documents, defining requirements, and providing oversight and quality checks of contract specialists' work. The position requires collaboration with internal partners and coordination of contract development with cross-functional project leads, while also maintaining relationships with state regulators and conducting regulatory monitoring.

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.
• 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 a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, 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%), company-funded pension plan.
• Wellness Programs to help achieve wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices after one year of service.