VP, Corporate Counsel, Retirement Strategies

$168,300 - $268,300 yearly
  • Prudential Financial
  • Newark, NJ, USA
  • Jun 22, 2022
Full time Legal

Job Description

Our Business:

The Prudential Retirement Strategies 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 transaction lawyer to join the legal team within Retirement Strategies Law that supports Retirement Strategies’ Investment & Pension Solutions (IPS) group and supports reinsurance matters more broadly across Prudential’s domestic and international businesses.  IPS 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 on a hybrid schedule.

Your Impact:

  • Providing focused, technically sound and pragmatic legal support to the Investment & Pensions Solutions group, including with respect to U.S. pension risk transfer transactions and the reinsurance of international pension risk transfers (“PRT”) involving domestic and global defined benefit plans, including negotiation and drafting of agreements.
  • 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 matters, including contacts with state regulators.
  • Representing Prudential in industry committees and groups.

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).
  • Minimum of seven (7) years to ten (10) years of relevant law firm or insurance, reinsurance or other financial services company law department experience.
  • A commitment to becoming a subject matter expert for legal advice regarding PRT and reinsurance generally across the Prudential Financial organization.
  • The individual must be an accomplished legal draftsperson, with substantial experience drafting and reviewing complex financing documents, securities filings, or contracts.
  • A working knowledge of state insurance laws, as well as experience interacting with regulatory bodies, is highly desirable.
  • The candidate should possess superior communication skills - both oral and written.
  • The candidate must exhibit a strong work ethic, be a self-starter and display the ability to work with various levels of personnel, including senior management.
  • The candidate must also be able to work well in an environment where coordination and teamwork with legal, compliance and business associates is a priority.
  • Practice skills necessary for success include managing legal support, from inception to post-closing, for complex transactions in a way that works for Prudential from both operational and regulatory perspectives. 
  • An attorney with substantial transactional experience, including mergers and acquisitions, reinsurance transactions, and/or corporate finance, as well as with insurance regulation, is preferred.
  • The candidate must be comfortable managing and working side-by-side with highly sophisticated outside legal counsel.
  • The candidate must have an appetite for learning new legal disciplines, and the legal and business talent to deploy new knowledge areas to evolving and innovative transactions with accuracy and efficiency.
  • Quickly gaining working knowledge of insurance regulatory requirements is critical to job success.
  • Equally critical is an ability to constructively engage with internal clients, control partners, and external plan customers and intermediaries to shape transaction and product solutions that work for them and for Prudential, and to be able to capture the solution in writing. 
  • In addition to transactional work, the candidate should have an interest in and aptitude for product development, and for supporting in-force operations and controls. 
  • Given the high profile and intensity of this transactional practice, team members need to be comfortable with lawyering under tight deadlines and being available at times for intense work efforts during business and non-business hours and days. 

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 Strategies 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 PRT and Prudential Retirement Strategies 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.