Senior Counsel (Insurance/Securities Regulatory)
Provide insurance and securities regulatory advice to Transamerica’s affiliate life agencies, broker-dealer, and registered investment advisor concerning the sale and offering of life insurance, securities, and investment advice to the retail public.
Interact with regulators, and draft regulatory responses and correspondence.
Work on and manage complex legal issues where analysis requires identification and evaluation of multiple factors.
Interact with colleagues in legal, compliance, supervision, finance, risk, and other control teams for domestic business units to maximize efficiencies, develop cross-business best practices and facilitate resolution of issues.
Coordinate with applicable stakeholders to provide legal analysis and advice with respect to new and existing laws, the development/enhancement of processes and procedures, the drafting of disclosures, and during regulatory examinations, audits, and inquiries.
Educate business partners and work cross-functionally with compliance, risk, and business to respond in a manner that achieves compliance while minimizing business impact.
Coordinate and provide legal analysis and advice relative to enterprise initiatives, including specific affiliate initiatives related to compliance, supervision, and risk.
Review and draft contracts, memoranda, disclosures, policies and procedures and other documentation relating to the sale and offering of life insurance products and securities.
Review and negotiate various agreements, including: selling agreements, client agreements, revenue sharing agreements, and distribution agreements.
Review and provide advice on communications to sales force, customers, and distribution partners relating to regulatory, operational, and administrative aspects of the business.
Assist in the drafting of client facing disclosure documents, as well as, modification of existing documents relative to life insurance and securities regulatory requirements.
Keep senior business management and operations personnel apprised of pertinent legal and regulatory developments.
Perform special projects as assigned by senior Legal department management.
Exercise independent judgment regarding legal advice with limited supervision of a more senior attorney.
Participate in and lead departmental and cross-functional working groups in identified areas of legal expertise or development.
Examples of legal support responsibilities within specific business areas: guidance with regard to existing and new life insurance and securities regulations and laws, drafting of disclosures, communications and memorandum related to regulatory issues as it relates to the life agencies and registered securities affiliates, review and analysis of complex contracts, drafting of concise executive summaries of risk related matters for consumption by business executives, and review and updating of intra-company agreements.
Provide support to the company’s life insurance and securities regulatory affairs and regulatory reporting function.
JD from an ABA accredited law school
Member of the Bar in good standing of any US State
5 years of law firm or in-house counsel with insurance and securities regulatory legal experience preferably in the Legal Department of an insurance or broker-dealer/investment advisor
Prior experience involving state insurance and other laws and regulations applicable to life insurance, including familiarity with NAIC Models
Demonstrated knowledge of state and federal securities laws and regulations, including FINRA Rules and Securities and Exchange Act of 1940
Able to effectively communicate, both written and oral, with the intended audience and across multi- functional teams and cultures
Able to exercise agility and adaptability in providing legal advice, often in impromptu situations
Able to build solid and constructive relationships with key stakeholders at all levels across the organization, including senior executives, peers, and colleagues
Employs innovative thinking to assist the business in generating and implementing creative, cost effective and realistic solutions that create business impact
Able to effectively engage with our internal government affairs team, federal and state trade organizations and internal subject matter experts on proposed and enacted legislation/regulation affecting insurance and securities offerings
Focuses on creating an environment of honesty, inclusion and respect for others, is open to and champions differing ideas and perspectives, and collaborates in a fully inclusive manner
This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation in order to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.
The US salary for this position generally ranges between $155,000 – $175,000 annually. This range is an estimate, based on potential employee qualifications and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
Additionally in the US, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
Our commitment to inclusion & diversity means that we value differences. We encourage the unique perspectives of persons and are dedicated to creating a respectful and inclusive work environment.