Pacific Life Newport Coast, Newport Beach, CA, USA
Nov 16, 2017Full time
About Pacific Life: WHERE YOUR POTENTIAL MEETS OUR PURPOSE: At Pacific Life, you are given the opportunities and challenges to embrace your potential and achieve your personal best, every day. What you find here is something special - it's purposeful work done with a shared set of values that brings us all together. ABOUT US: Pacific Life offers life insurance, annuities, and mutual funds, along with a variety of investment products and services, all of which provide The Power to Help You Succeed. Headquartered in Newport Beach, CA, Pacific Life is a Fortune 500 company with approximately 2800 employees. We pride ourselves in providing a work environment that is challenging, inclusive, collaborative and results-oriented. We firmly believe each employee plays a part in our continued growth and success. Job Description: AVP Regulatory Compliance Leads and directs Regulatory Affairs and Product Compliance units within the Retirement Solutions Division Compliance Department. Regulatory Affairs Unit : Oversees analyst staff to monitor proposed legislative/regulatory activity and determine potential impact on the Retirement Solutions Division (RSD). Directs preparation of talking points, correspondence and other materials on behalf of division to support lobbying activities of corporate Government Relations Department. Monitors the legislative and regulatory landscape affecting annuities and mutual funds and provides guidance, direction and decision-making support to RSD management on regulatory compliance issues arising out of state/federal law and regulation. Provides tracking, review, analysis, reporting and implementation expertise to ensure division-wide compliance with applicable laws and regulations. Oversees internal processes that monitor and evaluate the impact of new law and regulation, provides research data to management on regulatory trends and interacts with the Law and Corporate Compliance Departments. Manages the internal and external communication of legislative/regulatory developments and oversees the Regulatory Issues database to serve as a record of legislation/regulation tracked, analyzed, communicated and implemented. Partners with RSD management to direct, develop, implement and revise compliance policies, procedures and best practices to ensure division is in compliance with applicable law/regulation. Drives cross functional initiatives and leads teams in compliance activities. Serves on internal and external task forces and committees to support company-wide and industry-wide initiatives. Oversees RSD's privacy program and privacy incident handling process. Product Compliance Unit : Oversees the following: form creation and development of variable, fixed, immediate, and group annuity products, including contracts, riders, endorsements, applications, and disclosure documents; all form filing initiatives (including marketing materials) with the state insurance departments and the Interstate Insurance Product Regulation Commission ("IIPRC"), including the handling and overcoming of complex objections and obtaining timely approvals to facilitate product launch initiatives; Coordinates efforts of consultants working on Unit's behalf for form filing approvals and regulatory issues; and the issuance of approved contracts in accordance with the terms of sale and state regulations, and ensures proper records management of issued contracts. This role requires industry experience of 10 + years and a comprehensive understanding of multiple product lines including mutual funds, variable, fixed, immediate, and group annuities; as well as state, federal, SEC and FINRA regulations. A bachelor's degree required; JD preferred. Interfaces with all levels of management within company as well as within the industry and with regulators, including the SEC, FINRA, and state insurance departments. Relies on extensive experience and judgment to plan and accomplish goals. Operates with a wide degree of creativity and latitude. This role will have complete decision-making responsibility for the Units to ensure key deliverables are met. This includes allocation of staff resources and budgeting, prioritization of multiple complex projects with competing deadlines, and coordination of resources. Additional responsibilities include proactive participation in the product development process, and providing input on product design and state regulatory issues which may impact these products. Responsible for the Department review and sign-off of all variable annuity prospectuses. Proactively work with other Department personnel to mitigate regulatory risk to the Division. Represent the Compliance Department in various Division committees and working groups, and work on special Department projects as needed. Maintain cooperative working relationships with insurance regulators and industry affiliates. Develop and lead the staff within these Units in order to meet the current and future needs of RSD. Benefits: Join the Pacific Life team and watch your career grow! We offer a competitive compensation and benefits package that includes: Competitive salary and bonus program Medical, dental, and vision as part our commitment in investing in the health and wellbeing of our employees Two retirement savings plans: 401k savings plan with company match and Company Retirement Contribution (company-paid) Generous vacation time and holiday pay And much more! EEO Statement: Pacific Life Insurance Company is an Equal Opportunity /Affirmative Action Employer, M/F/D/V. If you are a qualified individual with a disability or a disabled veteran, you have the right to request an accommodation if you are unable or limited in your ability to use or access our career center as a result of your disability. To request an accommodation, contact a Human Resources Representative at Pacific Life Insurance Company.