Assistant General Counsel

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Date: Apr 30, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

 

We are seeking to fill a variable product attorney position in OGC for the Variable Universal Life Practice Team.  

 

The responsibilities for the position will include:

● Provide legal counsel on variable universal life product development for the institutional/corporate-owned life insurance (COLI) market (e.g., reviewing design documents and policy forms, negotiating participation agreements, negotiating intra-company agreements, preparing/amending separate account plans of operations, drafting prospectuses and filing registration statements and related correspondence with the SEC).

● Provide legal counsel on universal life insurance product development for the bank-owned life insurance (BOLI) market (e.g., reviewing design documents and policy forms as well as preparing/amending separate account plans of operations).
● Provide legal counsel to the institutional life business, as well as other corporate departments, including Corporate Compliance, Office of Governmental Affairs and Service for existing COLI and BOLI product administration (e.g., sales material, service issues, regulatory developments, financial statement disclosure, policy owner complaints, product enhancements, and annual and semi-annual reports).
● Revise and maintain registration statements and prospectuses for existing variable products--institutrional and retail (e.g., prepare and file prospectus supplements and annual updates to the prospectuses).
● Provide advice with respect to regulatory developments (state and federal) that could impact COLI and BOLI products, including participation in industry group discussions as appropriate. 

● The variable universal life attorney will also advise on structuring private placement variable universal life products (PPVUL), including the negotiation of hedge fund offerings and preparation of private placement variable life offering documents.
 

The roles require: 

• Minimum of 5 years relevant experience in law firm and/or in-house law department
• Demonstrated expertise in variable and universal life product work is preferred, will consider a candidate with a strong background in the insurance and annuity industry or '40 Act.
• Excellent oral communication, writing and client facing skills.

• Ability to work independently while operating under strict deadlines.

• Strong critical thinking and analytical reasoning skills, with ability to provide alternate approaches and solutions.

• Results-oriented with ability to deliver in a fast-paced environment.
• J.D. Degree
• Admitted to the New York bar

 

 

Location: New York City, NY Hybrid (on-site Tues, Wed, Thurs)

 

 

SF: LI-KV-1

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 86211

 

 

 


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