Senior Attorney / Associate General Counsel, Life Insurance, Long Term Care and Annuities
Lynchburg, VA (Mainstreet)
Genworth Financial is looking for an experienced life insurance product attorney to support its policy service operations. This position requires an in-depth working knowledge of insurance products, primarily life insurance and annuity products, and their administration. Experience with Long Term Care Insurance (LTC) product administration is also preferred since the position will address certainly operational issues related to all product lines life, annuity and LTC. An understanding of and prior experience with regulatory issues including state insurance regulators is also desired.
The position will provide counsel to business clients in a variety of areas such as insurance operations, new product implementation and administration, legislative changes and regulatory matters. The position requires significant understanding of state insurance regulations and compliance requirements. In particular, the candidate must be familiar not only with policy administration and policy terms, but also privacy requirements, security breach protocols and post-issue regulatory requirements for policies and their administration.
This attorney position will support Genworth Financial s policy servicing center located in Lynchburg, VA. Among the diverse work requirements, candidate should expect to become involved with the following:
- Working with actuaries, compliance personnel, insurance and tax attorneys to implement operational changes required by new laws and regulations
- Working with actuaries and cross-functional teams on the development, implementation and administration of new annuity, LTC and eventually life insurance products
- Responding to regulatory inquiries and matters including examinations, data calls and/or regulatory investigations.
- Assisting the business by providing life insurance product advice necessary to address policyholder complaints or provide policyholder reconciliation where necessary
- Advising business leaders on new processes for new cutting-edge initiatives involving policy administration and/or new business processes
- Monitoring and providing advice on the administrative and operational impact of new legislative and regulatory requirements, as well as assisting the business in maintaining and updating standard operating procedures
- Assisting in the development and implementation of new training materials for the company s customer service personnel
- Advise the business on the regulatory requirements related to privacy, data sharing and cross-marketing
In fulfilling these responsibilities, this Attorney will interact with various members of the Operations, Finance, Compliance and Legal Departments at the direction of the Chief Legal Officer Life and Operations, but will be expected to work autonomously to a significant extent. Position will involve significant interaction with other Genworth Financial business and legal functions in Lynchburg and with Genworth HQ and other business sites.
- J.D. and admission to practice in at least one state. Virginia Corporate Counsel status expected, if not member of the VA Bar.
- At least 5 years of experience as a life insurance attorney responsible for providing legal advice on life insurance and annuity administration issues
- Experience with regulatory matters such as examinations and investigations is also strongly desired
- Demonstrated strong skills in legal analysis, legal counseling, personal interactions, and written and verbal communications
- Ability to clearly discuss complicated insurance concepts in understandable terms to support personnel
- Ability to prioritize work and work autonomously across the business with various business disciplines such as finance, actuarial, compliance and other attorneys
- Health insurance regulatory experience and working knowledge of HIPAA and consumer privacy requirements
- Prior experience with third party vendor sourcing and contracting
- Working knowledge of reinsurance
- An understanding of life insurance main frame administration systems and their issues regarding policy administration
- The internal title for this position is Senior Attorney
Genworth Financial, Inc. is a leading insurance holding company committed to helping families achieve the dream of home ownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871.
The mission of Genworth s US Life business is to develop solutions that meet the financial challenges with the aging, including individual and group long term care insurance, annuities, life insurance and new innovative products over time.
Associated topics: attorney, business, company, compliance, compliance office, counsel, court, internal, legal, llp