Sr. Director, Underwriting Controls and Medical

Aegon; United States; On-site; USD 190,000 - 225,000; Full time

Job summary

An established industry player is seeking a Senior Director to lead underwriting controls and medical processes. This role involves enhancing life insurance accessibility through innovative underwriting capabilities and exceptional talent. You will oversee risk assessment processes, develop strategic plans, and ensure superior service for both internal and external customers. The ideal candidate will possess strong leadership skills, extensive underwriting knowledge, and the ability to foster relationships that drive success. Join a forward-thinking organization committed to transforming the life insurance landscape while promoting a culture of diversity and excellence.

Qualifications

• 8+ years of leadership experience in life insurance underwriting.
• Expert knowledge of underwriting processes and procedures.

Responsibilities

• Manage life underwriting risk assessment processes and procedures.
• Coordinate with leadership to set underwriting strategies and guidelines.
• Drive achievement of department goals and manage budget processes.

Skills

Leadership

Underwriting Expertise

Strategic Planning

Communication Skills

Negotiation Skills

Relationship Building

Education

Bachelor’s degree in a business field

Professional designations (FALU, FLMI, CLU)

Job description

Sr. Director, Underwriting Controls and Medical

Full Time

United States

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.

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.

Working Conditions

• Occasional travel.

Compensation

**Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to applicable pay transparency and compensation posting laws. It is estimated based on what a successful candidate might be paid in certain Company locations.**

The Salary for this position generally ranges between $190-225K. This range is an estimate, based on potential qualifications 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 Company discretion.