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Legal & Compliance Contract Consultant in Windsor, CT at Voya

Date Posted: 4/11/2019

Job Snapshot

  • Employee Type:
  • Location:
    Windsor, CT
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:

Job Description

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Position Summary:

The purpose of the job is to secure regulatory approval of registration statements, insurance contracts, or both, and other forms.  The resource drafts, reviews, and files registration statements, post-effective amendments, supplements, and correspondence filings for variable insurance products in compliance with federal securities laws.  The resource also drafts, reviews, and files insurance contracts and other related forms in compliance with state insurance laws and regulations.

Position Description:

  • Independently draft, review, and finalize registration statements, post-effective amendments, supplements, SAIs, correspondence filings, cover letters, acceleration requests, Tandy letters, opinions, NSARs, and 24f-2 notices for variable insurance products in compliance with federal securities laws.  Use discretion and best judgment in preparing forms that accurately reflect any product specifications, and consult with actuarial and legal resources to validate drafts reflect product specifications.
  • Independently draft insurance contracts and other forms in compliance with state insurance 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.
  • Prepare annual prospectus updates, including preparation of project plans, filing order charts, fund expense and investment objective information, indemnification and risk management disclosure, and keep external auditor informed.
  • Independently address issues and objection letters from the SEC and state insurance 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.
  • Update a variety of materials including procedures manual, organization charts, fund allocation supplements, and master power of attorney and conduct due diligence reviews for each assigned prospectus.
  • Responsible for the forms submission process with both state regulators and the SEC and for preparing materials required by regulatory authorities, including transmittal letters, certifications, checklists, and prepare drafts of actuarial materials on behalf of actuarial resources.
  • Respond to inquiries regarding fund availability, fund history, investigations, and complaints.
  • Review and analyze state insurance statutes and regulations, federal laws particularly the ’33, ’34, and ’40 Acts, , and keep abreast of regulatory changes that may impact registration statements, insurance contracts, and other forms.
  • Develop tools to help forecast regulatory approvals such as a timeline of critical milestones and a snapshot of 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.
  • Prepare and submit method of operations and plan of operations filings to applicable state regulators.

Knowledge & Experience:

  • Bachelor’s degree from accredited institution required.  JD or ASA preferred.
  • 5+ years registration statement drafting, contract drafting, or both, and insurance industry experience, including existing relationships with regulators.
  • In-depth knowledge of securities laws, particularly the ’33, ’34, and ’40 Acts, state insurance regulations, or both, and insurance products, such as group annuities, funding agreements, individual annuities, and individual life.
  • Knowledge of ERISA and the internal revenue code preferred.
  • Strong oral and written communication skills.
  • Attention to detail, sense of urgency, and demonstrated team player.



Critical Skills
At Voya, we have identified the following critical skills which are key to success in our culture: 

  • Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
  • Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
  • Team Mentality: Partnering effectively to drive our culture and execute on our common goals. 
  • Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions. 
  • Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.

Learn more about Critical Skills.