Counsel - Tax

Position: Counsel 2 - Tax
Job Family

Legal Counsel

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.

Who We Are

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.

What We Do

Transamerica is organized into three distinct businesses. These include
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, which covers Communications, Brand, and Government and Policy Affairs.

Transamerica employs nearly 7,000 people. It's part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.
* For more information, visit

Job Description Summary

As Counsel, you will provide legal advice relating to the taxation of life insurance and other financial products according to internal law department needs and, to the needs of certain in-house constituents.

Job Description

Responsibilities:

* Assist in providing legal advice to Transamerica's business units regarding the tax implication of the ongoing administration, servicing and management of life insurance products.

* Work on issues where analysis requires identification and evaluation of multiple factors and taking into account the related information reporting and withholding.

* Effectively communicate complex tax issues to individuals with little or no background in tax.

* Conduct legal research to provide support to more senior members of the legal team.

* Collaborate on matters with outside counsel and in-house counsel and tax professionals.

* Participate in departmental and cross-functional working groups.

* Review and draft contracts, memoranda, policies and procedures and other documentation relating to the administration and servicing of life insurance products.

* Provide legal analysis and advice relative to enterprise initiatives, including process improvements and product development.

Qualifications:

* JD from an ABA accredited law school, LLM a plus

* Two years of relevant legal experience

* Licensed or eligible to practice in the applicable state

* Ability to effectively communicate, both written and oral, with the intended audience

* Ability to exercise sound judgment in a fast paced environment

* Ability to exercise agility and adaptability in providing legal advice

* Comfortable in a rapidly changing corporate environment

* Solid understanding of life insurance taxation, specifically, IRC Code Section 7702 and other related sections and regulations

* Ability to analyze IRS guidance and advise the Company regarding impacts of new or pending legislation.

* 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

* Understanding of the tax impact of our various financial products on individuals, trusts, estates, and entities.

* Understanding of information reporting and withholding requirements related to our products.

* Proficient using MS Office

Preferred Qualifications:

* Experience with life insurance taxation

* Financial services or insurance industry experience preferred

Working Conditions:

* Hybrid office environment: 3 days in office (Baltimore/Cedar Rapids/Denver/Philadelphia)

Compensation:

* The Salary for this position generally ranges between $140,000 - $160,000 annually. Please…