Technology and Business Processing Services Attorney
Position: Technology and Business Processing Services Attorney. This position will report to Security Benefit Corporation’s (SBC) Senior Vice President, General Counsel and Secretary. It will principally work with senior management of the Company’s se2 subsidiary with respect to its:
(1) provision of business processing and remote software usage services for third party customers with respect to life insurance policies and annuities issued or reinsured by them;
(2) other technology and insurance-related business services;
(3) vendor relationships and agreements, principally software vendors; and
(4) regulatory compliance.
This is a new position occasioned by the growth of the Company’s se2 business. It will be based at SBC’s, and se2’s, headquarters in Topeka, Kansas.
Security Benefit Corporation (SBC) is seeking an attorney to work closely with senior management of its se2 subsidiary, reporting to SBC’s Senior Vice President, General Counsel and Secretary.
Specific responsibilities of this attorney will include:
- Advising and counseling se2’s management, utilizing outside counsel and the Law Department’s Senior Legal Analyst, on customer relationships and agreements to furnish business processing services and remote software access services with respect, principally, to the processing life insurance policies and annuities for insurance companies. These are not infrequently sophisticated, 8-10 year agreements (and in the case of larger existing block transactions, 7 figures per year deals).
- Advising and counseling se2’s management on relationships and agreements with vendors, including software and service vendors.
- Advising se2’s management on compliance with legal requirements and restrictions on their business activities and delivery of services.
- Advising se2’s management on special matters and issues as they may arise (e.g., responding to and addressing a privacy breach).
- Advising se2’s management on possible acquisitions.
- Advising Guggenheim Partners (SBC’s parent) regarding technology and servicing aspects in connection with possible insurance industry acquisitions.
- Assisting SBC’s governmental affairs function with respect to potential legal and regulatory developments as they may affect se2 and its clients.
- Assisting in monitoring, maintaining and implementing various corporate governance and risk management practices and policies with respect to se2.
- Managing effective use, coordination, and oversight of outside counsel and other Law Department resources.
- Developing a thorough understanding of and familiarity with complex law applicable to se2 and its clients, and the operation of its and their businesses, products, markets, facilities, and distribution.
- Establishing a solid rapport and working relationship with business unit managers to encourage and continue proactive use of in-house legal counsel.
- Demonstrating a commitment to Security Benefit’s core values, including a commitment to “giving back” to the local community.
Compensation: Competitive in the market and commensurate with experience.
Relocation: Well-qualified candidates are encouraged to apply. A relocation package will be provided as warranted.
ABOUT THE COMPANY
Security Benefit Corporation, through its life insurance and broker-dealer subsidiaries, is a leading issuer of variable, fixed, and fixed indexed annuities, both qualified and non-qualified, and retirement plan service provider (particularly in the K-12 education market). It offers and sells these products, through independent distributors, throughout the United States. se2, which is a direct wholly-owned subsidiary of SBC, is a leading third party administrator of life insurance policies and annuity contracts for other insurance companies.
Security Benefit’s insurance companies have roughly $17 billion of assets under management. They partner with approximately 27,000 licensed and appointed financial planners and representatives principally through a network of 700 broker-dealers and independent marketing organizations. It is a leading provider of retirement plan services for approximately 170,000 accounts throughout the nation, primarily in the K-12 education marketplace. In addition, Security Benefit Life Insurance Company ("SBL") has issued and outstanding approximately 200,000 fixed and fixed indexed, and variable annuities and is growing. Security Benefit is known nationwide and serves the financial needs of customers in all 50 states and the District of Columbia by helping them to and through retirement. SBL and its New York affiliate, First Security Benefit Life Insurance and Annuity Company of New York (“FSBL”) have financial strength ratings of A- (stable) from S&P and B++ (stable) from A.M. Best.
se2 is a leading provider of third party business processing services for life insurers and reinsurers. It administers hundreds of thousands of life insurance policies and contracts for many third party insurers and reinsurers, many of them household names, as well as for Security Benefit’s life insurance companies, and has approximately $15 billion of assets of third parties (principally other insurance companies, excluding Security Benefit’s insurance companies) under administration. It has a leading edge technology platform and has been repeatedly recognized as a leading technology company. Its business is growing rapidly and we expect that to continue if not grow even more rapidly as the qualified sales pipeline continues to grow. This is a new position occasioned by such growth and could eventually, if a candidate proves himself or herself worthy over a number of years and the business grows as expected, lead to the successful candidate becoming General Counsel of se2.
As noted above, Security Benefit (and thus, indirectly, se2) is privately-owned. On July 30, 2010, SBC was purchased by a group of investors led by Guggenheim Partners. Guggenheim Partners is a privately held global financial services firm with more than $160 billion in assets under management. The firm provides asset management, investment banking and capital markets services, insurance, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients around the world from more than 25 offices in nine countries. For more information about Guggenheim, please visit: www.guggenheimpartners.com.
ABOUT SE2’S SENIOR MANAGEMENT
Dave Keith is se2’s Chairman and Chief Executive Officer. Dave draws on more than 20 years of experience in IT development and architecture and has a keen understanding of business strategy and vision to lead se². Dave played a key role in the development and deployment of the IT architecture that powers se².
Eric Rea is se2’s President and Chief Marketing Officer. Eric brings 30 years of dedicated experience, ensuring clients are provided with solutions uniquely suited to their needs. Eric’s extensive experience with business process outsourcing and integration services provides se² with the vision and leadership to ensure customer-centered solutions. Eric played a key role in the design of the se² operations model and IT framework and applies those insights to bring meaningful results for se².
Jim Schmank is se2’s Chief Financial Office. Jim oversees the day-to-day business management efforts of se² including risk analysis, contracting, administration and all financial aspects of the company. Under Jim’s direction, se2 also provides accounting support and tax and reconciliation services to its business process outsourcing clients. Jim brings more than 30 years of financial services industry experience in insurance and mutual fund operations, accounting, investments, and product development. He is a certified public accountant and carries NASD Series 6, 7, 24 and 26 designations.
Brent Littleton is se2’s Chief Technology Officer. Brent coordinates all aspects of technology solutions for se² and is specifically focused on keeping se² on the leading edge of technological innovation. With more than 30 years of experience in the insurance and financial services industry, Brent is uniquely qualified to spearhead technology innovation that drives efficiency, reliability and speed.
Frank Rosa is se2’s Chief Operating Officer. Frank is dedicated to helping se² acquire new relationships and enhance existing relationships by providing superior customer service. With nearly 30 years of experience in financial service operations, Frank is well qualified to ensure se²’s operations and customer service continue to build upon their strong existing foundation. He is a native of Boston, Mass., and earned a Fellow, Life Management Institute (FLMI) professional designation.
Mary Anne Durall is se2’s Senior Vice President for Client Solutions/Client Relationship Management. Mary Anne is dedicated to formulating optimal client solutions and delivering on client implementations. Mary Anne brings more than 24 years of domestic and international financial service industry experience in implementations, business process transformation, insurance operations, product development, and global sourcing. Mary Anne’s leadership in the industry, focus on collaboration, and customer-centered approach assures that se2’s clients receive the maximum value possible.
Tom Spencer is Vice President of Business Development for se2. Tom brings more than 15 years of experience in professional services, strategic consulting, project leadership, and client relationship expertise. Leveraging Tom’s collaborative experience, se2 clients are carefully navigated through the se2 experience with a clear introduction and understanding of se2, an optimal se2 client solution design, and ultimately a successfully transitioned business operation.
ABOUT SBC’S LAW DEPARTMENT
Legal services for SBC and its subsidiaries, including se2, are furnished by SBC’s Law Department. Security Benefit’s Law Department currently consists of four attorneys, all but one of whom is currently located in Topeka. In addition to this position, the Law Department is looking to add another attorney to support its growing annuity business and another to replace an attorney who furnished a variety of legal services as well as served as the Company’s director of Governmental Affairs (but left to accept an offer to be General Counsel at another financial services company). The attorneys are supported by a senior legal analyst, two paralegals, two administrative assistants, and a department administrator. The Department is strongly supportive of the development of all its personnel and of opportunities for all of them to advanced in their careers.
Security Benefit’s Senior Vice President and General Counsel is John Guyot. John has been with the company since 2003 and was promoted to General Counsel in 2008. He is a graduate of the Wharton School of Business at the University of Pennsylvania and received his law degree from Duke. John worked at Shaw Pittman (now Pillsbury Winthrop) and Winston and Strawn in Washington, D.C. before going in-house.
Brenda Kramer is a Senior Legal Analyst in Security Benefit’s Law Department. Brenda has twenty years of experience in the Law Department with regulatory affairs and compliance, product development, M&A, intellectual property and technology licensing matters. She has worked closely with se2 since its formation, starting with licensing requirements and progressing to, technology management and client contracting, working as the primary Law Department resource for se2 since 2008 in consultation with outside and/or inside counsel as needed for all phases of se2’s business. Brenda will continue to have a significant role with respect to the Law Department’s provision of legal services to se2. Brenda holds a B.A.S. in Technology Administration with a Business minor and an A.A. Legal Assistant, both from Washburn University.
This position will report directly to John. Given John’s many other duties and responsibilities, and macro-management style, the attorney selected for the position must, as must other more senior attorneys within the Department, (1) be able to function well independently, with little day to day guidance and oversight from John, (2) be able to exercise good judgment (both in decision making and alerting and inquiring of John on material issues to or on which he should be alerted or his counsel sought), (3) be willing to exercise authority and drive results, and be held accountable for his or her advice, counsel, decisions, and delivery of service within the scope of his or her area of responsibility, and (4) work collegially and constructively with every other member of the Law and Compliance Departments.
With a population of more than 128,000, Topeka is the capital city of Kansas. The city is well known for the landmark United States Supreme Court case Brown v. Board of Education of Topeka, which overturned Plessy v. Ferguson and declared segregation in public schools on account of race to be unconstitutional.
Being the state’s capital city, Topeka’s largest employer is the State of Kansas – employing about 8,400 people. Other major companies based in Topeka include: Westar Energy; Collective Brands; CoreFirst Bank & Trust; Capitol Federal Savings Bank; Hill’s Pet Nutrition; Sports Car Club of America; and Blue Cross and Blue Shield of Kansas.
Points of interest include the Brown v. Board of Education National Historic Site, the Kansas State Capitol, and the Kansas Museum of History.
Topeka is located about 65 miles west of downtown Kansas City, Missouri, and 30 miles west of Lawrence, Kansas, home to the University of Kansas. Many employees elect to live in and commute from Lawrence and some even from Kansas City.
SECURITY BENEFIT IS AN EQUAL OPPORTUNITY EMPLOYER AND ENCOURAGES DIVERSE CANDIDATES TO APPLY.
- J.D. from an accredited law school, very strong academic background, and active bar membership.
- 8-10+ years of high quality, business-focused commercial and technology-oriented legal experience.
- Meaningful experience providing legal counsel with respect to insurance, securities, or other financial services law and business or with managed and outsourced service offerings would be preferable, as would be some demonstrated degree of business sense and financial or accounting acumen, but such experience is not required.
Experience: 8-10+ years of high quality, business focused commercial and technology-oriented legal experience. Some experience providing legal counsel with respect to insurance, securities, or other financial services concerns or with managed and outsourced service offerings would be preferable, as would be some demonstrated degree of business sense and financial or accounting acumen, but such experience is not required. In-house experience is not required.
Key Attributes: smart; a quick study; good judgment; performance-driven; result and business-oriented; strategic, but also able and willing to effectively tackle details and tactical matters; proactive; creative; energetic; hard working; able to prioritize and handle multiple matters; good communicator with clients at all levels; strong negotiator and advocate, but without antagonizing counterparties with whom positive relationships are key; self-motivated; responsive; team-oriented (with other legal as well as business personnel); collegial; good listener; ethical; thorough; committed to learning applicable law and our business and to performing high quality work; decisive (even in some cases absent perfect or necessarily complete information and despite some risk); strong interest in and understanding of business technology and related issues; and strong belief in se2, its business, its strategy, its long-term goals, and its culture.
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