Job Location: New York, NY
This position will support MetLife’s Retirement & Income Solutions (RIS) business and provide advice on structured insurance products, including registered and unregistered securities, stable value contracts, guaranteed interest contracts (GICs), funding agreements and group annuities. The Structured Products lawyer will advise senior management of RIS and work closely with Investments, Actuarial, Tax/ERISA and Finance on product development activities and distribution arrangements for these products.
- Serve as the principal legal adviser for MetLife’s Stable Value business will also offer advice on other Structured Products offered by RIS
- Provide legal analysis and advice on product development and underwriting activities, regulatory filing and registration requirements, marketing materials and practices, and all other issues related to RIS Structured Products
- Draft, review and revise product documentation, including policies, contracts, certificates, disclosure documents (offering memorandums and registration statements), distribution arrangements, and separate account plans of operations and investment management agreements
- Assess and communicate legal and regulatory risks associated with RIS Structured Products and counsel the business partners on ways to effectively mitigate such risks
- Leverage internal MetLife legal resources, including subject matter experts from throughout the Law Department, as well as outside counsel when necessary to ensure that RIS has consistent access to effective legal support for Structured Products
- Encourage development of the necessary skills and legal expertise within the MetLife Law Department to ensure adequate bench strength and capabilities exist to support RIS Structured Products over the long term
- Reports to: Associate General Counsel & Unit Head, GEB/Retirement & Income Solutions (U.S. Insurance Law Section)
- Key Stakeholders: Head of Stable Value & Investment Products, Head of RIS Business Oversight & Risk
Essential Business Experience and Technical Skills:
- Law degree (J.D. or equivalent) and bar admission required with a minimum of five years of relevant legal experience, preferably with a strong record of in-house success
- Extensive experience drafting and negotiating group annuity and group insurance products, including Stable Value products and collective investment trust documentation
- Deep subject matter expertise in the Securities Act of 1933, the Investment Company Act of 1940, the Securities Exchange Act of 1934 and FINRA rules and regulations as they relate to insurance products
- Basic understanding of the Investment Advisers Act of 1940, ERISA and tax issues that impact qualified plans and institutional investors
- Familiarity with the rules and regulations promulgated by the Commodity Futures Trading Commission and its SRO, the National Futures Association
- Experience dealing with state and federal regulators and working with institutional investors, qualified plans and accredited investors
- Ability to handle complex legal matters with minimal oversight while escalating significant issues in a timely fashion
- Sound judgment, a high degree of professionalism, an ability to prioritize and adhere to deadlines, and leadership competencies to motivate, train and develop others
- Communicates clearly, concisely and persuasively with a variety of internal stakeholders (corporate business partners, team members, functional colleagues, etc.), works collaboratively and builds effective partnerships
- Thinks Strategically – Sets direction aligned to the company’s strategy, applying external and global perspective to meet local and global needs.
- Motivates People – Gains people commitment to achieve business objectives through clear communication of the company’s vision and flexing leadership styles to inspire high performance.
- Creates Partnerships – Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.
- Models Our Values – Creates a culture that promotes values and standards through role modeling, accountability and ownership of decisions
MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
We are one of the largest institutional investors in the U.S. with more than $580 billion in managed assets as of December 31, 2017. We are ranked #42 on the Fortune 500 list for 2017. In 2017, we were named to the Dow Jones Sustainability Index (DJSI) for the second year in a row. DJSI is a global index to track the leading sustainability-driven companies.
Our goal in everything we do is to offer customers truly differentiated value propositions that allow us to establish clear competitive advantages. We pride ourselves on being a trusted partner to our customers as they navigate life’s twists and turns.
MetLife is a proud equal opportunity/affirmative action employer committed to attracting, retaining, and maximizing the performance of a diverse and inclusive workforce. It is MetLife’s policy to ensure equal employment opportunity without discrimination or harassment based on race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.
MetLife maintains a drug-free workplace.