Job description
PruBenefit Funding (PBF) is a leader in the creation of innovative funding solutions for employers who seek to offset the cost of providing comprehensive and affordable employee benefits. With offices in Roseland, New Jersey and Plymouth, Minnesota, PBF offers customized employer owned life insurance products to corporations (COLI), banks (BOLI) and their trusts (TOLI). Our team consists of approximately forty professionals with expertise in product development, law, actuarial science, investments, and contract administration. Prudential has established itself as one of the most experienced carriers in this business having been a leader in the market since 1989. PBF currently manages over $21 billion in COLI/BOLI/TOLI assets.
The Director, Product Management will report to the Vice President, Product Management. The position will be located in Roseland, NJ.
The incumbent will be responsible for the development, issuance and maintenance of documentation associated with our private placement institutional life insurance product, with primary oversight for drafting individually negotiated contractual terms and conditions related to each transaction. Additionally, the incumbent monitors and makes recommendations regarding economic and contractual risks associated with the product as well as ensuring that all aspects of these transactions are compliant with all enterprise and business level standards.
Responsibilities include but are not limited to
• Ensuring that the documentation for each issued private placement transaction accurately reflects agreed-upon terms.
• Coordinating with internal business partners (law, tax, actuarial, finance, underwriting) to ensure that both market and regulatory product objectives are met.
• Maintaining and amending contract documentation as needed.
• Acting as the primary liaison between PBF’s regulatory affairs area and our external business partners.
• Coordinating with PBF’s investment area in order to continually update the product’s investment platform.
• Maintaining ancillary agreements associated with the product.
This position is integral to PBF's product development and new business efforts. The incumbent will be relied upon as a subject matter expert with regard to all product related issues and will have frequent interaction internally with the law department and externally with brokers, consultants, prospective purchasers and existing clients.
Desired Skills and Experience
The successful candidate must be highly articulate and possess excellent written and verbal communication skills. This position also requires life insurance licensing and Series 6 and 63 FINRA registrations, which must be obtained within 90 days of the start date.
Prudential and its affiliates, Newark, New Jersey are Equal Opportunity/Affirmative Action Employers and are committed to diversity in our workforce.
Qualifications:
• Bachelors degree is required
• JD degree is highly preferred
• Minimum 5-7 years experience in life insurance or investment or law related role is required
• Strong understanding of investment products
• COLI/BOLI/TOLI business knowledge a plus
• Demonstrated ability to work cross-functionally to achieve goals
• Excellent written and verbal communication skills
• Required licenses include Variable Life and Health Insurance Licenses and Series 6 and 63 FINRA registrations
• Willing and able to travel as needed
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Email: jobs@aarenconsultants.in
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