What are the responsibilities and job description for the Contract Drafter (Remote/Virtual) position at Prudential?
Job Classification:
Project Mgmt, Transformation & Strategy - Project Mgmt, Transformation & StrategyOur 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.
Business description:
Part of Product Solutions in the Individual Life Insurance organization, the Contract Drafter is responsible drafting policies that are in compliance with regulatory, product and business requirements.
Your team
We are a team of approximately 10 individuals, we 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.
Your 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.
• Drafts 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.
• Drafts documents to support changes for in-force business which includes the development of non-standard language.
• Performs regulatory monitoring and identifies regulation changes that impact contract language for new and inforce products.
• Prepares and submits documents to state insurance departments and the Interstate Compact for approval.
• Coordinates 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 we are looking for in your background
What you’ll need to succeed:
• Product and Compliance knowledge of the life insurance or annuity product line of business.
• Bachelor’s degree or equivalent experience 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 several dissimilar deliverables and prioritize.
• Ability to work independently and as part of a team.
• Proficient in Word, Excel and SERFF.
*Note: Prudential is required by Colorado law to include the salary range for this role when hiring a Colorado resident.
Salary range specific to Colorado: ($83,300 - $118,300) discretionary incentive bonus benefits. 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. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.
-Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
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.
The Prudential Insurance Company of America, Newark, NJ and its affiliates.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.
Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.
Salary : $83,300 - $118,300
