Senior Counsel - Employee Benefits

About Us

At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests. Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment — one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.

We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life. Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them. We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.

Transamerica is organized into three distinct businesses: 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long-term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, covering Communications, Brand, and Government and Policy Affairs. Transamerica employs nearly 7,000 people and is part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.

About the Role

We are seeking an attorney for a critical role in ensuring the success and compliance of our organization. In this dynamic position, you will be a key contributor within a team of four attorneys who provide strategic legal guidance and support within Transamerica’s Protection Solutions and Savings & Investments businesses. The position will primarily support the company’s Employee Benefits division that focuses on supplemental health products and employer-provided life insurance. Preference given to candidates near our four key offices (Denver, Cedar Rapids, Baltimore, Philadelphia), but remote candidates will be considered.

Responsibilities

• Provide legal advice and support in the development, filing, offering, and administration of life insurance products and services for our Employee Benefits division. This includes all term accident, disability, hospital indemnity, executive health, medical gap, retiree medical, Medicare supplement, and employer-provided life products.
• Prepare, review, and negotiate legal contracts, documents, and agreements, including marketing, distribution, administration, TPA, and/or vendor agreements for the review of senior team members.
• Research, counsel, and draft recommendations addressing unique regulatory challenges such as state-based claims processing requirements, benefit coordination with group health plans, benefit triggers and eligibility, and the application of ERISA’s preemption clause to state insurance mandates.
• Advise on legal risks and potential impacts of business decisions, as well as escalated claims and consumer complaints.
• Monitor, review, and interpret relevant changes in laws, rules, and regulations, particularly those related to insurance regulations.
• As needed, support Transamerica’s Life Insurance division. Draft regulatory responses, disclosures, and other correspondence that may include market conduct issues from state and federal regulators for the review of senior team members.
• Collaborate with internal compliance teams to develop and implement policies and procedures to mitigate legal risks.
• Work on legal issues where analysis requires identification and evaluation of multiple factors.

Qualifications

• JD from an ABA accredited law school.
• Member of the Bar in good standing of any US jurisdiction.
• Five years of experience at a sophisticated law firm or in-house counsel with insurance regulatory legal experience and/or a focus on supplemental health insurance, state insurance matters, and life insurance, with knowledge of relevant laws, rules, and regulations.
• Effective communicator, both in writing and orally, with the intended audience.
• Able to exercise sound judgment in a fast-paced environment.
• Able to exercise agility and adaptability in providing legal advice.
• Comfortable in a rapidly changing corporate environment.
• Proficient using MS Office.
• Effective organizational and project management skills with an ability to manage multiple priorities.
• Action-oriented, timely, and organized with ability to prioritize workload with accuracy and attention to detail.
• Focuses on creating an environment of honesty, inclusion, and respect for others, is open to and champions differing ideas and perspectives, and collaborates in a fully inclusive manner.

Preferred Qualifications

• Experience with individual and group life insurance products.
• Experience with voluntary benefits insurance products including supplemental health and/or long-term care, and with the ACA, HIPAA, and ERISA laws.
• Employs innovative thinking to assist the business in generating and implementing creative, cost-effective, and realistic solutions that create business impact and lend toward its growth.

Working Conditions

• Hybrid location for candidates near Baltimore/Cedar Rapids/Denver/Philadelphia (3 days in office).
• Remote location for candidates not near a core office.

Pay

The salary for this position generally ranges between $165,000 - $185,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote), and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

Benefits

• Competitive pay and bonus for eligible employees.
• Pension plan and 401k match.
• Employee Stock Purchase Plan.
• Tuition reimbursement.
• Disability, medical, dental, and vision insurance.
• Employee discounts.
• Career training and development opportunities.
• Paid Time Off starting at 160 hours annually for employees in their first year of service.
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars.
• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
• Adoption assistance.
• Employee Assistance Program.
• Back-Up Care Program.
• PTO for Volunteer Hours.
• Employee Matching Gifts Program.
• Employee Resource Groups.
• Inclusion and Diversity Programs.
• Employee Recognition Program.
• Referral Bonus Programs.