Job Details

Insurance Coverage Attorney in West Chester, PA

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Company name

Voya Financial, Inc.

Organization Type

In-House

Job Type

Attorney

Practice Area

Insurance Coverage

Years of Experience

Min 5 yrs required

Location

USA West Chester, PA

Date Last Verified

Sep 15,2017

Posted on

Sep 04,2017

34 hits

Profile

State filing consultant Duties: Secure regulatory approval of insurance contracts and other forms. Resource drafts insurance contracts and other forms in compliance with state and federal laws and regulations, submits such forms to applicable regulatory authorities, particularly state insurance departments in all jurisdictions where the company is licensed, researches statutes and regulations, uses discretion and best judgment in terms of amending contract provisions as part of the negotiation process with regulatory authorities, and uses creative problem solving skills in developing solutions that have systems or pricing implications. Independently draft insurance contracts and other forms in compliance with state and federal laws and regulations. Use discretion and best judgment in preparing contract provisions that accurately reflect any product specifications, with a focus on mass customization to ensure maximum flexibility within the terms of the contract. Consult with actuarial and legal resources to validate draft reflects product specifications, and meet with operations to explain contract terms and conditions in order to confirm contract can be administered as drafted. Independently address issues and objection letters from regulators, using discretion and best judgment. When applicable, provide business partners with viable options for addressing regulatory issues, with a bias towards automation rather than manual workaround solutions. Responsible for the insurance contract submission process and materials required by regulatory authorities, including transmittal letters, certifications, checklists, and prepare drafts of actuarial materials on behalf of actuarial resources. Review and analyze state insurance statutes and regulations, and federal laws such as ERISA and the IRC, and keep abreast of regulatory changes that may impact insurance contracts and other forms. Independently forecast regulatory approval by state based upon predictive modeling and prior filing experience. Independently prepare and submit timeline of critical regulatory milestones in order to keep contract drafting and filing on time to maximize the number of approved states at product launch. Develop tools to communicate status, with a focus on transparency. Recommend strategies for accelerating the regulatory approval process in order to meet the company’s common objective of speed-to-market. Prepare reports and address other responsibilities as directed by manager or the department head.

Qualification and Experience

Qualifications: Bachelor’s degree from accredited institution required. JD Degree or ASA preferred. 5+ years contract drafting and insurance industry experience, including existing relationships with state insurance regulators. In-depth knowledge of insurance products, such as group annuities, funding agreements, individual annuities, and individual life. Knowledge of federal laws helpful, particularly ERISA and the internal revenue code. Strong oral and written communication skills. Attention to detail, sense of urgency, and demonstrated team player. Learn more about Critical Skills.

Additional info

Ref. JR0017632

Company info

Hiring Coordinator
Voya Financial, Inc.
1475 Dunwoody Drive
West Chester, PA 19380