Regulatory Counsel - Life & Retirement

Functional Area:

LG - Legal, Regulatory & Gov't Affairs

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: No

American General Life Insurance Company

Position Summary

In this challenging and dynamic role, you will have the opportunity to work with a team of legal professionals who make up our Regulatory Team supporting primarily AIG’s Life and Retirement (“L&R”) businesses, operations and legal entities (“L&R Regulatory Team”).

The L&R Regulatory Team has a core complement of responsibilities as described below:

• Supporting the management of our L&R insurance companies’ state insurance exams, and state market conduct filings and regulatory inquiries
  • day-to-day management of our insurance companies’ market conduct regulatory notices and inquiries;
  • coordinating, diligizing and/or preparing responses to exam requests/findings/criticisms and regulatory inquiries, preparing market conduct regulatory filings, and liaising directly with our regulators regarding such exams, inquiries and filings;
  • developing and helping to drive strategic advocacy positions, solutions and/or settlements in response to regulatory findings and negotiating fair and reasonable exam outcomes; and

• Providing general insurance regulatory and related transactional support for L&R insurance companies
  • preparing and managing insurance regulatory filings under state insurance holding company and related insurance laws;
  • supporting the management of L&R U.S. life companies’ regulatory relationships with domicile states;
  • providing general legal/regulatory support for L&R functional areas, including financial/SEC reporting, capital management, actuarial, accounting, enterprise risk management, and treasury teams;
  • consulting on proposed investment transactions involving L&R entities that may implicate insurance regulatory considerations; and
  • providing legal review on general contracts and non-disclosure agreements; and

• Managing and supporting the L&R business lines’ regulatory monitoring and advocacy function, and providing similar support to other AIG lines of business as may be requested (e.g., monitoring legislative and regulatory proposals, emerging areas of legislative or regulatory concerns/risks, and/or industry trends, in each case that impact our lines of businesses and operations); and

• Managing the L&R business lines’ regulatory change management function (e.g., assessing applicability of legislative and regulatory enactments that impact L&R business lines, and effectively communicating the same through established procedures to L&R internal stakeholders); and

Your primary responsibilities will be to support the management of L&R’s U.S. based life insurance companies’ state insurance exams and state market conduct filings and regulatory inquiries, and to advise and provide guidance on general insurance regulatory matters and related transactional support for these companies. These responsibilities will be carried out in an integrated, team-based environment. As such, we are looking for a candidate who is a proven team player, who is open-minded to diverse views, who can evaluate and synthesize such views to achieve reasonable outcomes, who is able to help drive results and reach conclusions through influence, who is comfortable being a supporter/collaborator as well as being the lead on projects, and who is able to manage interactions with our regulators as well as internal stakeholders.

You may also be, from time to time, asked to work on and support all other facets of work managed by or coordinated through the L&R Regulatory Team.

This is a dynamic and client-facing position for a self-starting, intellectually curious lawyer who is willing to dive in to a number of challenging issues and projects, while at the same time tending to ordinary course matters needed to support the day-to-day workings of the L&R businesses, operations and legal entities.

Organizational Structure

This position will be based in either our Woodland Hills (LA), California office, or our Houston, Texas office. The position will report to our Deputy General Counsel who leads the L&R Regulatory Team.

Performance Objectives

Specific responsibilities of this position will include:

• Provide legal and regulatory support, including legal research, drafting and document review, on all facets of L&R insurance companies’ state insurance exams and market conduct related inquiries and/or filings;

• Guide and/or lead discussions and negotiations with regulators on state insurance exams, audits, investigations and other market conduct related matters, and on findings, reports and/or consent orders resulting therefrom;

• Provide legal/regulatory advice on corrective actions resulting from state insurance exams, audits, investigations and other market conduct related matters;

• Provide day-to-day general legal and regulatory advice and/or support to other L&R teams and L&R legal entities, as requested, including insurance regulatory filings, financial statement/SEC disclosure reporting, investment and/or strategic transactions using L&R legal entities’ balance sheets, and general contract review;

• Collaborate with and support L&R legal professionals with maintenance of L&R’s regulatory monitoring and advocacy function, as well as the regulatory change management function;

• Provide support on special projects as requested, and some limited travel for business anticipated (~5-10%); and

• Effectively work in a team environment, closely collaborate and provide team support with peers across Legal, Compliance and other control functions at the segment (L&R) and global (AIG) levels.

Education/Experience:

• Candidate must have a JD from an accredited law school, be admitted to at least one state bar, and have 7+ years (or more) of law firm or relevant in-house experience.

• Top academic credentials, excellent oral and written communication skills, in particular the ability to communicate complex concepts clearly and simply and to present clear choices are required.

• Experience in the U.S. life insurance and/or retirement services industry is a strong plus.

• Problem-solving skills that demonstrate ability to critically evaluate and analyze issues and recommend well thought-out and/or creative solutions.

• The candidate must have the ability and desire to take on multiple projects, effectively prioritize each project, and balance thoughtful decision making with careful and timely execution.

• Demonstrated maturity, judgment and poise are requirements for this position. Also expected of the successful candidate are: strong and effective organizational and interpersonal skills, and being highly accountable, dependable and motivated.

• Demonstrated abilities in review and handling of complex transactions, as well as experience in dealing with insurance regulators and/or regulators in general, are beneficial.

• We are focused on fostering and maintaining a collegial, professional, friendly, creative, entrepreneurial and supportive work environment. This is a client/business partner-facing role, and will also be required to work closely with peers in and outside of the L&R Regulatory Team. Accordingly, through his or her example, the successful candidate will be expected to take ownership of, and help to promote, our positive culture.

• Proficient with Microsoft Office programs (including Word, Outlook, PowerPoint and Excel), excellent technology skills (e.g., use of SharePoint, Archer and other platforms to meet Performance Objectives) and/or demonstrated willingness to learn new technologies.

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.

We consider qualified applicants with criminal histories, consistent with applicable law.