Associate General Counsel - Head of Legal, Fortitude Life & Annuity Solutions, Inc.
LG - Legal, Regulatory & Gov't Affairs
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: Yes
American General Life Insurance Company
Associate General Counsel and Head of Legal - Fortitude Life & Annuity Solutions, Inc.
The role is responsible for all legal and regulatory aspects of Fortitude Life & Annuity Solutions, Inc. (FLAS), which provides contract administration services for closed block, in-force life insurance policies and annuity contracts. This position is a direct report to the Senior Vice President & General Counsel, Fortitude Group Holdings, LLC.
- Provide timely and cost effective legal support to FLAS management and staff on all aspects of activity conducted by FLAS, including with respect to:
- Third Party Administration (TPA) governance and controls, including:
- Developing TPA-related policies and procedures
- Monitoring and advising on laws and regulations applicable to the administration and servicing of life insurance policies and annuity contracts
- Oversight of regulatory exams and inquiries
- Data privacy and security
- Board and committee governance
- TPA Operations, including:
- Call center and contract maintenance functions
- Policyholder communications and regulatory inquiries
- Obtaining, maintaining and advising on TPA licensing
- Processing of commission, claims and benefits payments
- Records management and retention
- Data privacy and security
- Contract drafting and negotiation, including:
- Administrative services agreements, third party administration agreements and related agreements, such as transition services and asset transfer agreements
- IT and non-IT vendor contracts and other outsourcing arrangements
- Accountable for managing lower level attorneys and paralegals.
- Responsible for partnering closely with the Compliance team, including by providing commercially useful legal advice.
- Accountable for building and maintaining strong working relationships with business and other functional teams.
- Responsible for monitoring governance practices, identifying any weaknesses and making recommendations for improvement to reflect best practices.
- Responsible for partnering closely with group legal team on matters including reinsurance and group-wide corporate governance
- Provide General Counsel with advice regarding all aspects of Life and Annuity TPA activity.
- A minimum of 7 years of relevant experience with a highly recognized law firm or as a senior in-house counsel
- Experience with the administration of life and annuity insurance and related legal and regulatory issues
- Experience with TPA licensing and regulatory requirements, legal issues and corporate governance
- Experience with life and annuity reinsurance
- Broad cross-functional expertise
- Proven effective communicator, demonstrating flexibility to adapt to different audiences
- Demonstrated experience as a change agent, driving innovative and effective approaches to problem solving
- Demonstrated commitment to excellence in the provision of legal advice
- Strong analytic and problem-solving skills
- Collaborative approach
- Discretion with confidential information
- Deep understanding of the legal system as it affects business
- Excellent communication and interpersonal skills
- Simultaneously flexible and detail-oriented
- Superior judgment
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.