Sr Director Life Underwriting

Job Family

Underwriting

Job Description Summary

Senior leader within the Underwriting organization, responsible for helping drive the Transamerica Underwriting mission to create underwriting capabilities that increase the accessibility of life insurance for more applicants. Combine exceptional underwriting talent, underwriting innovation, and tools that create simpler but efficient application processes that remove the traditional barriers to the acquisition of life insurance and maximize the effectiveness of sales partners. Responsible for multiple activities and functions of the underwriting department, driving for excellent mortality and morbidity results while ensuring superior service is provided to both internal and external customers by establishing and achieving strategic service goals through one or more departments/teams.

Job Description

Responsibilities

• Manage overall life underwriting risk assessment processes impacting Company bottom line and producer satisfaction. Includes the development and oversight of underwriting procedures, practices, guidelines, forms and manuals for life insurance products and distribution systems
• Coordinate with the Product, Pricing, Risk, Operations and other Underwriting leadership to set life insurance underwriting strategies, drive the transformation of risk selection processes while balancing the need to maintain and improve mortality/morbidity results and comply with appropriate insurance and financial services regulations. Includes setting the underwriting strategy, philosophy, guidelines, and procedures.
• Manage one or more specialty teams within the department, such as vendor management, international business, forensic underwriting, research and development, medical, etc.
• Accountable for creating positive, proactive relationships with internal and external customers.
• Drive and support the use of data analytics in mortality/morbidity assessments, and as analysis of the Transamerica underwriting process and its results.
• Drive the underwriting experience and notify the appropriate stakeholders of variations with underwriting guidelines/experience.
• Set and drive achievement of department goals, objectives, and priorities in alignment with company/divisional goals.
• Manage the budget process by providing information on needs within the team.
• Resolve escalated issues as they arise; facilitate resolution with internal and external customers.
• Manage relationships with other leaders on integrated strategies, workflows and system development efforts that maximize organizational effectiveness. Complete performance appraisals and evaluate overall performance of team.
• Drive an exceptional culture and climate in the department through effective communication, employee development, standards setting and leading by example. Be a champion of diversity.
• Oversee department management by providing hiring, direction, counseling, and training to staff.
• Recommend and/or lead projects, processes or changes in underwriting policies and procedures to promote efficient processes within the department.
• Oversee underwriting processes and underwriting decisions through audit and analytics programs.

Qualifications

• Bachelor’s degree in a business field or equivalent experience
• Expert knowledge life insurance underwriting processes and procedures
• Eight years of leadership experience, preferably in life insurance
• FALU, FLMI, CLU, or similar professional designations
• Experience leading the development, execution, and measurement of strategic plans
• Ability to develop strategies and implement plans to solve business problems
• Sound business judgment, results oriented, customer focused, and excellent negotiation, relationship building and influencing skills
• Excellent communication and interpersonal skills to interact effectively at all levels to build strong cooperative relationships that drive profitable sales

Preferred Qualifications

• Understanding of risk factors relating to mortality risk management (medical, financial, occupational, environmental, etc.); insurance principles including mortality, insurable interest and actuarial theory; compliance with insurance, privacy and FINRA regulations; reinsurance treaties, pool agreements, and auto-bind retention limits; and individual life insurance products and riders
• Project management experience

Working Conditions

• Remote (Other) Environment
• Occasional Travel <10%

The Salary for this position generally ranges between $200,000-$233,000 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 of 25% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion. 

Disclaimer:

• We will never request personal information such as ID or payment for equipment upfront.
• Official offers are sent via DocuSign following a verbal offer—not through text or email

This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.

What We Offer  

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees. 

Compensation Benefits 

• Competitive Pay 

• Bonus for Eligible Employees 

Benefits Package 

• Pension Plan 

• 401k Match

• Employee Stock Purchase Plan

• Tuition Reimbursement

• Disability Insurance

• Medical Insurance

• Dental Insurance

• Vision Insurance

• Employee Discounts

• Career Training & Development Opportunities

Health and Work/Life Balance Benefits 

• 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

Inclusion & Diversity  

  

We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women. 

  

To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all. 

   

Giving Back  

  

We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.     

  

Transamerica’s Parent Company  

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has  grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.   

* As of December 31, 2023