Policy Compliance Specialist - Life Insurance

    • Newark, NJ

Our Business
For over 100 years, Prudential's diverse and talented employees have been committed to helping customers and their families grow and protect their wealth through a variety of products and services. We are known for delivering on our promises and are recognized as a trusted brand and one of the world's most admired companies.

The Team
The Contract Specialist is part of the Product Solutions team in the Individual Life Insurance organization. Our group is responsible for drafting policies that are in compliance with regulatory, product and business requirements. W e work with Product, Actuarial, Legal and other areas to ensure products are filed and approved with the Compact and non-Compact jurisdictions in a timely and accurate manner. Members of our team are located in both Newark, NJ and Hartford, CT.

The Role
The Contract Drafter will report to the Director of the Contract Drafting team and is responsible for ensuring contract compliance for new development and in-force state-filed documents while supporting internal partners and coordinating contract development with cross functional project leads. This includes drafting contracts, riders, endorsements, amendments and other state regulated forms, defining requirements and providing oversite and quality checks of contract specialists work. Additional responsibilities include:

  • Draft legally defendable contracts, amendments, endorsements and riders that comply with applicable laws and regulations and meet the product design and marketing needs for new and in-force products
  • Prepare documents to support changes for in-force business which includes the development of non-standard language
  • Perform regulatory monitoring and identify regulation changes that impact contract language for new and in-force products
  • Prepare and submit documents to state insurance departments and the Interstate Compact for approval
  • Coordinate with internal partners to develop technical responses to state department inquiries and may review Contract Filer's response prior to submission
  • Responsibilities may include workflow coordination, responding to regulator questions, training new associates and special projects


    Your Expertise

    What you'll need to succeed:
    • 3-6 years of relevant experience drafting and state filing of life insurance or annuities
    • Product and Compliance knowledge of the life insurance or annuity product line of business is required
    • Bachelor's degree is preferred
    • Strong communication and presentation skills
    • Exceptional collaboration skills and ability to partner with a wide variety of other functions and levels, including Product, Service, IT, Control and Actuarial functions
    • Clear and concise verbal and written communication skills; ability to understand, explain and write complex technical material
    • Must have solid organizational skills with the ability to develop and execute plans
    • Ability to effectively manage and prioritize several dissimilar deliverables
    • Capable of working independently and as part of a team
    • Proficient in Word and Excel

    It'd be a plus if you have:

    • Experience working with SERFF

Prudential is a financial services company that helps customers grow and protect their wealth.

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