Head of Life Solutions at Aegon (Baltimore, MD)

| Baltimore, MD
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Job Family
Business or Functional Leader

Job Description Summary
Head of Life Solutions is a highly visible role which will join a fast-paced environment that is leading business and cultural transformation. This role will strategically manage the end-to-end lifecycle for the entire life product portfolio serving the needs of the individual consumer, which includes developing a long-term product roadmap and new product development. The Head of Life Solutions is focused on creating and executing innovative strategies to drive growth, competitive advantage, and financial and operating performance. This role will report to the CEO of Transamerica's Individual Solutions division.

The Head of Life Solutions will be instrumental in helping to achieve Transamerica's goal of being a Top 5 Individual Life and Annuity player, working closely with its peer, the Head of Annuity Solutions. Through the re-engineering and building out of the product portfolio into new market segments under this individual, he/she will be accountable for the transformation and enablement of the greater business.

The team seeks a unique combination of skills, including strong people leadership, business acumen, an understanding of the marketplace of the future, and an entrepreneurial and creative approach to developing new, innovative product ideas that will stretch the organization and push the boundaries within the industry. He/she will need to be able to create and articulate an inspiring vision and strategy for life products to support and succeed in taking Transamerica to the next level.Job Description

Responsibilities
  • Responsible for the entire life product and its impact to sales, earnings, and profitability.
  • Maintain oversight of and accountability for development, delivery and servicing of product in line with customer and market requirements.
  • Direct oversight and responsibility for the Life Underwriting function and underwriters.
  • Synthesize changing customer/market conditions, priorities, and "on-the-ground" experience to continually adjust product strategy.
  • Set and execute the Market Positioning Strategy by determining market size, customer segmentation, value proposition and potential for life products to capture share.
  • Create the product strategy by determining how to capture market share, differentiate product features, pricing strategy, agent and customer experience requirements, and set the roadmap for development.
  • Define and execute on product roadmaps including pricing, filing, hedging, and go to market strategy via marketing, distribution onboarding, technology platform, training and sales plan.
  • Monitor and continuously improve service delivery including operations, product improvements, repricing, underwriting and third party management.
  • Ensure new product success through close collaboration with Distribution, Marketing, Finance, Operations, and Legal leadership.
  • Work closely with regulatory parties to influence and interpret regulatory requirements as they pertain to product development and management.
  • Drive approval processes related to product approvals and compliance. Oversee management and guidance of the work of pricing actuaries and staff handling the most complex technical actuarial tasks, including Actuarial sign-offs.
  • Manage overall budget for the Product organization and lead management teams responsible for product-owned prioritization, oversight, and implementation activities in conjunction with all functional areas.
  • Represent the company in discussions/negotiations with distribution, vendor partners, and industry groups.
  • Oversee go to market price setting, quarterly reporting, pricing model policies and procedures.
  • Interpret and explain actuarial, financial, customer, and distribution information, to help form the product portfolio and go to market pricing.
  • Provide guidance and advice regarding technical actuarial issues such as pricing rates, modeling methodology, reserving principles and related matters.
  • Build a high performing diverse team to meet business needs; maintain a focus on continuous improvement to drive operating efficiency within the team.
  • Promote and foster employee engagement and well-being by driving collaboration, innovation, transparency, inclusion and trust across the function and organization.


Qualifications
  • Senior executive with 10+ years of leadership experience in life product strategy, development, pricing and revenue growth.
  • Thorough understanding of product pricing, actuarial, marketing, distribution, competitive analysis, operations, technology, legal, and other facets necessary to successfully lead the function.
  • Solid understanding of capital markets and risk/return profiles of various assets.
  • Ability to execute for results by setting clear and challenging goals while committing the organization to improved performance.
  • Deep understanding of the insurance industry and competitive landscape, customer expectations and product trends.
  • High degree of integrity and forethought in decision making approach; acting in a transparent, consistent way taking in account what is best for Transamerica.
  • Significant experience managing a portfolio of products initiatives, measuring performance and making difficult prioritization and trade off decisions.
  • Passion to lead and embrace change and challenge assumptions and the status quo and to develop innovative solutions for growth.
  • Strong communication, problem solving, decision making, negotiation, and partnership skills.
  • Ability to understand and analyze complex problems; distill and present data in a digestible format with meaningful recommendations. Uses data based in facts to drive decision making.
  • Operate with the highest integrity that encompasses Transamerica/ Aegon values.
  • Intellectual curiosity and a desire for ongoing personal and team development.
  • Strong belief that people management is as important as business management. Understanding of how to multiply effectiveness through overall team performance.
  • Ability to manage and plan complex, interdependent initiatives with a focus on balancing priorities for business value, resource commitments and attention to detail.
  • Ability to engage in strategic discussions and influence outcomes at the executive level. Advocates effectively, readily command attention and respect in groups.
  • Exceptional relationship building skills that demonstrate credibility and humility.
  • The ability to create and articulate an inspiring vision for the organization, not only for the areas he/she is directly responsible for, but the enterprise as a whole.
  • Entrepreneurial and creative approach to developing new, innovative ideas that will stretch the organization and push the boundaries within the industry.
  • Executing for results by setting clear and challenging goals while committing the organization to improved performance; tenacious in driving results.
  • Comfortable with ambiguity and uncertainty; the ability to adapt nimbly and lead others through complex situations.
  • A high degree of integrity and forethought in decision making approach; acting in a transparent, consistent way taking in account what is best for Transamerica.


Working Conditions
  • Office or hybrid office/remote environment
  • Moderate travel


Why Work for Us

Total Rewards at Transamerica: It's more than a paycheck.

Our comprehensive Total Rewards package is designed to help support you in many ways - throughout all stages of your life and career. We provide a competitive, market-driven program that encompasses base compensation, bonus potential, retirement, health and wellness benefits, learning and development opportunities, plus great employee perks. All designed with you in mindto help you live your best life, grow personally and professionally - and feel valued for the work you do.

Learn more about our Total Rewards Package.

Equal Opportunity Employer:

Transamerica Life Insurance Company is an Equal Employment Opportunity employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.

Applicants with physical or mental disabilities may be entitled to a form of reasonable accommodation under the Americans with Disabilities Act and certain state and local laws. A reasonable accommodation is a change in the way things are normally done which will insure equal employment opportunity without imposing undue hardship on the Transamerica Companies. Please contact: [email protected] if you are a job seeker with a disability, or are assisting someone with a disability, and require assistance to apply for one of our jobs.

Ontario Applicants:

Our Company is committed to providing accessibility to those with disabilities in a manner that is consistent with the principles of independence, dignity, integration and equality of opportunity, that is in compliance with the Accessibility for Ontarians with Disabilities Act 2005 ("AODA"). Please contact [email protected] if you are a job seeker with a disability, or are assisting someone with a disability, and require assistance to apply for one of our jobs.

Technical Assistance:

If you experience technical problems during the application process, please email [email protected]
More Information on Aegon
Aegon operates in the Fintech industry. The company is located in Baltimore, MD and Atlanta, GA. Aegon was founded in 2022. It offers perks and benefits such as Dental Benefits, Vision Benefits, Health Insurance Benefits, Remote Work Program. To see all 12 open jobs at Aegon, click here.
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