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New York City NY Full Time Posted by: Bright House Financial, LLC Posted: Friday, 22 May 2020
Applicants must be eligible to work in the specified location

Brighthouse Financial is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S., we specialize in products designed to help people protect what they've earned and ensure it lasts. We are built on a foundation of experience and knowledge, which allows us to keep our promises and provide the value they deserve.

At Brighthouse Financial, we're fostering a culture where diverse backgrounds and experiences are celebrated, and different ideas are heard and respected. We believe that by creating an inclusive workplace, we're better able to attract and retain our talent, provide valuable solutions that meet the needs of our advisors and their clients, and deliver on our mission of helping more people achieve financial security. We're se eking passionate, high-performing team member to join us. Sound like you? Read on.

How This Role Contributes to Brighthouse Financial:

The Product Tax Corporate Counsel will focus on building a strong partnership with the product development business team and providing advice on the impact of tax laws on the company's insurance and annuity products. The role requires assisting in the design of products and administrative procedures as well as close interaction with the operations team to address tax questions and issues arising from sales personnel, administrators and customers.

Key Responsibilities:

The position will involve review of tax issues related to new and actively marketed products including assistance with product administrative issues. Internal Revenue Code (IRC) Sections routinely used in providing advice will be: 72, 101, 7702, 7702A, 408, and 408A. Products covered by this team include annuities and life insurance. Product Tax responsibilities include:

  • Advice on the design and administration of life and annuity products
  • Tax support for Brighthouse Financial' s products, including a wide variety of life and annuity products
  • Review of and advice on current procedures (administrative or otherwise) for monitoring tax compliance
  • Guidance on issuance of proper information returns (eg, Forms 1099, 5498, 712 and state notice and consent rules)
  • Assist the Advance Markets team and wholesalers when tax questions arise in connection with sales activities
  • Serve as the Tax Department's liaison to various functional areas including compliance, marketing and distribution
  • Advice on noncompliance, including policyholder remediation, IRS remediation, communication of remediation steps and determinations of potential liability
  • Support training and awareness to resources in functional areas, eg, ad-hoc training, internal webinars, lunch-and-learns, etc.
  • Actively participate in industry associations. Maintain industry awareness, assess/monitor/track impact of new legislation and regulatory changes on company's products, platforms and sales opportunities, including attendance at industry meetings
  • Perform tax review of marketing material for Brighthouse products

Essential Business Experience and Technical Skills:

  • JD from accredited US law school
  • Member in good standing of a state bar
  • 3+ years of product tax experience in the life insurance industry or in a major law firm working with life insurance company clients or with employee benefits clients that purchase/maintain insurance products as part of their plans.
  • Experience on federal and state tax issues with focus on insurance and annuity tax matters
  • Excellent writing and oral communication skills in order to engage with management effectively
  • Ability to provide practical solutions and assess risk.
  • Ability to listen and appreciate stakeholder concerns and understand business issues that are affected by tax technical matters
  • Exhibits initiative and the ability to manage multiple complex tasks towards completion
  • Candidate should be flexible and motivated, a self-starter who can succeed in a fast-paced environment

Alternate Job Location :

Charlotte, NC, New York, New York, Morristown, NJ


Minimal Travel

New York City NY, United States of America
Bright House Financial, LLC
Bright House Financial, LLC
5/22/2020 10:49:11 PM

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