Job Classification:
Corporate - Legal and Compliance
Our Business:The Prudential Retirement Legal Team is part of the US Business Law Group of Prudential's Law Department. We are seeking a highly talented, business savvy and experienced transactional lawyer to join the Retirement Law legal team supporting our Institutional Retirement business and reinsurance matters across Prudential's domestic and international businesses. Prudential's Institutional Retirement business offers, among other things, domestic and international pension risk transfer products. Pension risk transfer products enable a defined benefits plan to transfer its pension liability to Prudential. The "funded" transfer structure, which is most prevalent in the U.S. market, involves the transfer by a pension plan of risks associated with the pension liability in return for a one-time premium. The "longevity only" transfer structure, which is most prevalent in overseas pension markets, involves the transfer of the risk that plan participants, as a whole, live longer than expected.
The position will be located in Newark, NJ or Hartford, CT on a hybrid schedule (approximately 3 days per week).
Your Impact:- Providing focused, technically sound and pragmatic legal support to the Institutional Retirement business, including with respect to U.S. pension risk transfer transactions ("PRT"), and the reinsurance of international pension risk transfer and longevity reinsurance transactions ("IR") involving domestic and global defined benefit plans, including the negotiation and drafting of related agreements and advising on key issues and risks.
- Providing legal support for all aspects of life company reinsurance transactions, with affiliates, captives and unaffiliated counterparties, including negotiation and documentation of treaties and related agreements.
- Regulatory guidance, including advising on insurance regulatory requirements and engagement with state regulators.
- Supporting the Institutional Retirement business's substantial in-force block of business, including issues of contract interpretation and policy administration.
- Partnering with business and cross-functional teams on growth efforts, including new transaction structures, product development and evaluation of new markets.
- Exercising independent judgment, identifying and communicating material legal and regulatory risks, and partnering with business partners to identify appropriate solutions.
Your Required Skills:- Juris Doctorate (or equivalent) required (must be licensed in NJ or eligible to obtain a limited NJ license for in-house counsel).
- 8+ years of legal experience, including significant transactional experience and strong drafting and negotiation skills
- Experience with insurance, reinsurance, retirement or financial services industry highly desirable
- Experience with complex transactions experience, which may include mergers and acquisitions, reinsurance transactions, and/or corporate finance, as well as with insurance regulation, is preferred.
- With respect to PRT, experience with ERISA-related analysis, in-force administration, defined benefit plans, and legacy products is preferred.
- Substantial experience drafting and reviewing complex transaction documents and commercial agreements.
- Superior interpersonal, organizational, written and oral communications skills
- Ability to manage and work effectively with outside legal counsel.
- Demonstrated ability to collaborate with internal clients, control partners, and external plan customers and intermediaries to shape transaction and product solutions and translate them into clear documentation.
Prudential offers a collaborative and collegial work environment, with an enterprise focus on the growth, development and success of talented associates. Members of the Retirement legal team are part of Prudential's global Law, Compliance, Business Ethics and External Affairs (LCBE) organization. Associates of LCBE work together to assure that Prudential's products, services and operating practices adhere to relevant laws and regulations, as well as to Company policies and business standards. Team members can expect to quickly develop strong collaboration relationships with key Prudential Institutional Retirement business leaders, as well as leaders focused on reinsurance more broadly, and to regularly interact with some of the top US and international law firms.
#LI-Hybrid
What we offer you:Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $208,400.00 to $312,600.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.
- 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.
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
- Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
- Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period).
Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.
To maintain the integrity and security of our hiring process, Prudential may use identity verification technologies. Your consent will be obtained before any verification takes place.
If you need an accommodation to complete the application process, please email accommodations.hw@prudential.com.
If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.
