In this challenging and dynamic role, you will have the opportunity to demonstrate your legal expertise by being responsible for legal aspects pertaining to the Institutional Markets businesses. This position will report to the Deputy General Counsel, responsible for legal affairs related to the Institutional Markets business of AIG Life and Retirement
- This position has a broad scope of work. The role is primarily dedicated to: (i) providing general contract, insurance regulatory and transactional legal support for AIG Life and Retirement’s Institutional Markets pension risk transfer (“PRT”) business in the U.S.; (ii) supporting new product initiatives developed by the PRT business team, whether in the pension risk transfer space or similar product lines; and (iii) negotiation of assumption and ceded reinsurance transactions.
- The position will also assist the Institutional Markets team in respect to other business lines such as structured settlements, medium term note offerings, stable value wrap and private placement products.
- Areas of responsibility for this role will include support of product development, transactional negotiation and investments/capital markets matters. This will include drafting and negotiation of all relevant contracts and documentation as well as filings with applicable regulators in conjunction with the PRT business team.
- The position will also work cross functionally to assist the other Institutional Markets lines of business when necessary, collaborate with the reinsurance businesses and legal teams across AIG and provide support with respect to legislative tracking, compliance and handling of special projects.
- Tax and ERISA knowledge is a plus.
- General transactional experience is necessary.
- Transactional experience in the life and annuity and/or reinsurance industry is preferred.
- Responsible for all aspects of legal and regulatory matters relating to the pension risk transfer business as well as other relevant Institutional Markets lines of business.
- Frequent interaction with the senior management of AIG Life and Retirement.
- Provide legal advice with respect to product development, transactional, insurance regulatory, contract negotiation, operational and compliance matters.
- Negotiation of agreements.
- Communication with regulatory authorities, as necessary.
- Participate in functional projects as well as cross-functional projects within AIG Life and Retirement.
- Travel will be necessary from time to time.
What you need to know:
- At least 10+ years of in-house experience in the life and annuity industry, reinsurance industry, or at a major law firm supporting life, annuity, reinsurance and/or transactional work and preferably insurance company clients.
- Intellectual curiosity and a strong desire for knowledge and growth.
- Experience with drafting, mark-ups and negotiation of agreements.
- Demonstrated ability to work in a fast paced environment and to find creative solutions on diverse matters requiring complex legal and strategic analysis.
- Excellent written and oral communications skills.
- Strong organizational, time management and project management skills.
- Must be capable of working independently and/or as part of a team.
- Knowledgeable about regulatory and risk management functions.
- Strong reasoning ability and capacity to understand inner workings of departments at AIG.
- Good judgment and ability to provide timely legal advice.
- Ability to identify and develop solutions to legal and business risks.
- JD required.
- Admittance to at least one state bar.