Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Headquartered in Richmond, VA, Genworth has approximately 6,400 employees operating through three divisions around the world. For more information on employment opportunities, please visit genworth.com/employment.
Genworth Financial is looking for an experienced life insurance product attorney to support its policy service operations. This position requires an in-depth working knowledge of insurance products, primarily life insurance and annuity products, and their administration. Additionally, there will be exposure to new product development initiatives and new product implementation for both new business and post-issue administrative implementation. An understanding of and prior experience with regulatory issues including state insurance regulators is also desired. The position will provide counsel to business clients in a variety of areas such as insurance operations, new product implementation and administration, legislative changes and regulatory matters.
The position requires significant understanding of state insurance regulations and compliance requirements. The candidate must be comfortable with project management to coordinate various stakeholders necessary to implement required operational changes for new products, new legislative changes and regulatory inquiries. Additionally, while the focus is life insurance product operations and administration, this position will also have involvement with the development of new term and universal life insurance products.
This attorney position will support Genworth Financial’s policy servicing center located in Lynchburg, VA. Among the diverse work requirements, candidate should expect to become involved with the following:
In fulfilling these responsibilities, this Attorney will interact with various members of the Operations, Finance, Compliance and Legal Departments at the direction of the Chief Legal Officer - Life, but will be expected to work autonomously to a significant extent. Position will involve significant interaction with other Genworth Financial business and legal functions in Lynchburg and with Genworth HQ and other business sites.
- Working with actuaries, insurance and tax attorneys to implement operational changes required by new laws and regulations.
- Working with actuaries and cross-functional teams on the development, implementation and administration of new term life and universal life insurance products.
- Responding to regulatory inquiries and matters including examinations, data calls and/or regulatory investigations.
- Assisting the business by providing life insurance product advice necessary to address policyholder complaints or provide policyholder reconciliation where necessary.
- Advising business leaders on new processes for cutting edge initiatives like “e-signature.”
- Monitoring and providing advice on the administrative and operational impact of new legislative and regulatory requirements.
- Assisting in the development and implementation of new training materials for the company’s customer service personnel.
- J.D. and admission to practice in at least one state. Virginia Corporate Counsel status expected, if not member of the VA Bar.
- At least 5 years experience as a life insurance attorney responsible for providing legal advice on life insurance product development, implementation and/or administration issue.
- Experience with regulatory matters such as examinations and investigations.
- Demonstrated strong skills in legal analysis, legal counseling, personal interactions, and written and verbal communications.
- Ability to clearly discuss complicated insurance concepts in understandable terms to support personnel.
- Ability to prioritize work and work autonomously across the business with various business disciplines such as finance, actuarial, compliance and other attorneys.
- Working knowledge of reinsurance.
- Health insurance regulatory experience and working knowledge of HIPAA and consumer privacy requirements.
- An understanding of life insurance main frame administration systems and their issues regarding new product implementation.
Genworth Financial, Inc. - 2 years ago
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Genworth Financial, Inc. is a leading Fortune 500® insurance holding company dedicated to helping people secure their financial lives....