Contract Development Consultant

at MetLife in Aurora, Illinois, United States

Job Description

Role Value Proposition

The Group Benefits Contracts team is part of the U.S. Business and is responsible for the development, compliance, and maintenance of all filed forms (policies, certificates, enrollment forms, amendments, etc.) issued to Group Benefits product customers.

The Affinity & Member Benefits (A&MB) Contract Development team is a unique team within Contract Development that executes on the intersection of the Group Benefits portfolio of (product) forms with the filing requirements applied to non-employer group types (e.g., associations, trust). This individual contributor role is responsible for preparing case specific filing submissions (+ supporting documentation), preparing responses to insurance regulators’ questions/requests, and negotiating approvals with state insurance departments. The work product of this team is crucial in ensuring a compliant offering is available for A&MB group customers.

The incumbent consults with actuarial, legal, sales, marketing, underwriting, claims and administrative staff to identify product specifications and issue requirements in connection with product development, product updates, and changes in insurance laws and regulations. Consults on the creation of language to issue approved contract forms and products. This role acts as a subject matter expert on issues (e.g., product, compliance, etc.) involving the A&MB product portfolio (Life, Dental, Vision, Disability, Accident, Critical Illness, Hospital Indemnity, and Legal). The position requires analytical, communication, negotiation, and organizational skills to meet deliverables which include aspects of compliance, form development/drafting, and some issuance responsibilities.

Key Responsibilities:

• Primary responsibility is the drafting/creation and filing of group insurance policy forms in support of A&MB customers.

• Works with Sales, Service, and Implementation teams to develop customer specific contracts, ensures product plan designs and provisions are accurately reflected into customized forms, and secures all necessary state approvals.

• Analyzes contracts and reviews applicable laws and regulations to determine variations in forms, laws, and legal requirements; negotiates with state insurance department regarding form approval.

• Establish strong relationships and partner with Product Development, Service, Actuarial, Operations, Sales, Underwriting and other key partners to accomplish deliverables.

• Establishes and maintains good working relationships with state insurance departments regarding form approval.

• Prepare, maintain, and disseminate filing status and other internal metrics reports to all relevant stakeholders.

• Maintain the recordkeeping for filing documentation and issued forms, including managing the files and updating appropriate databases and systems.

• Assist with development and issuance of forms and documents to support new and existing products offered by A&MB.

• Maintain knowledge and understanding of company policies and state rules and regulations impacting contracts.

• May assist senior management in analyzing proposed and enacted laws and regulations to identify required compliance activities.

• Research and respond to internal and external customer questions regarding contract features and compliance.

• Attends internal calls and (if necessary, based on case complexity) customer calls.

• Researching and responding to form related questions from internal partners including Sales, Service, Implementation and Product Development.

• Collaborate with team to develop and maintain best practices from an efficiency and governance point of view.

• Develop form subject matter expertise and regulator/compliance expert skills.

• Develop analytical and research skills to interpret and validate regulatory comments during approval process.

• Assist with special compliance, product development and team projects on an as needed basis.

• Support state insurance regulatory filings using primarily the SERFF electronic filing system and recordkeeping requirements.

• Supports cross-functional projects as required.

• Perform other related duties as assigned or required.

Essential Business Experience and Technical Skills:

Required:

• 3+ years of insurance or related business experience.

• Able to conduct and effectively summarize research.

• Ability to work cross-functionally with peers and leaders from various lines of business.

• Intermediate to advanced Microsoft Office software skills – Word, Excel, and PowerPoint.

• Strong written and oral communication skills.

• Self-motivated, flexible, and enthusiastic.

• Ability to effectively analyze and synthesize complex information.

• Bachelor’s degree

• Exposure to group benefits products, Service or Implementation experience

• J.D. is a plus.

At MetLife, we’re leading the global transformation of an industry we’ve long defined. United in purpose, diverse in perspective, we’re dedicated to making a difference in the lives of our customers.

Equal Employment Opportunity/Disability/Veterans

If you need an accommodation due to a disability, please email us at accommodations@metlife.com. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.

MetLife maintains a drug-free workplace.