Stop Loss Business Development Specialist

Voya Financial; Marquette (IA); On-site; USD 109,000 - 136,000; Full time

Benefits offered by this job

Health, dental, vision and life

401(k) Savings plan

Employer paid retirement plan

Tuition reimbursement

Paid time off

Paid volunteer time

Job summary

Voya Financial in the United States is seeking an experienced Stop Loss Channel and Sales Support professional. You will coordinate with Executive Regional Managers and Director of Stop Loss Alternate Distribution Channels to drive growth and expand alternate distribution channels.

The role emphasizes relationship building with brokers and TPAs, managing RFP data, and accelerating renewal profitability. A Bachelor’s degree is preferred, with at least five years in employee benefits and strong MS

Qualifications

• Minimum 5 years of experience in Employee Benefits, Stop Loss, Self-Funded Healthcare, TPA, Broker/Consultant, Carrier, or related employee benefits distribution and sales support environments.
• Demonstrated knowledge of stop loss insurance, self-funded health plans, and the employee benefits ecosystem.
• Experience building and maintaining professional relationships with brokers, consultants, TPAs, carriers, vendors, or employer groups.
• Proven ability to support business development initiatives, channel growth strategies, partnership development, or sales enablement activities.
• Strong Microsoft Office Skills (Word, PowerPoint, Excel)
• Strong interpersonal, communication, presentation, and influencing skills
• Ability to travel up to 25%

Responsibilities

• Develop and maintain product information, local market conditions, and channel development for stop loss distribution.
• Create marketing and training materials related to stop loss channels.
• Identify processes, offerings, and partners for stop loss distribution.
• Coordinate broker and client opportunities with ERMs and Senior Sales Representatives.
• Review RFP data to improve quoting and expedite responses.
• Develop renewal processes to increase persistency and profitability.
• Identify cross-sell opportunities using internal tools.
• Communicate product enhancements and align with regional messaging.

Skills

Microsoft Office

Word

PowerPoint

Excel

Communication skills

Interpersonal skills

Travel up to 25%

Education

Bachelor’s Degree

Job description

Together we fight for everyone’s opportunity for a better financial future. We will do this together — with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone’s access to opportunities. The status quo is not good enough … we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future. We know that reaching this future depends on our actions today.

Like our Purpose Statement, Voya believes in being bold and committed to action. We are committed to a work environment where the differences that we are born with — and those we acquire throughout our lives — are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision.

Get To Know The Opportunity This role contributes to the achievement of national and regional stop loss sales goals by supporting the Director of Stop Loss Alternate Distribution Channels, Executive Regional Managers, and overall Distribution Team through a variety of activities. This includes a primary focus on Voya’s stop loss alternative distribution channels expansion as well as internal cross sell within Voya Health Solutions and external cross sell with other Voya business segments. This position will manage proposal activity and maintain relationships with key TPA partners and brokers, and will partner with and inform the Director of Stop Loss Alternate Distribution Channels of market requests involving reference based pricing, captives, and cost containment initiatives.

The Contributions You’ll Make

• Develop and provide expertise internally and externally on product information, local market conditions, product development, channel development, and product distribution, with a focus on alternate distribution channels
• Contribute to the development of marketing and training materials internally and externally related to alternate distribution channels for stop loss
• Identify processes, product offerings, and distribution partners aligning with stop loss alternative distribution channels
• Coordinate broker and client opportunities with ERMs and Senior Sales Representatives based on contacts developed via Strategic Relationships Team oversight.
• Review RFP data at point of intake to improve IGO percentages and expedite the quoting process; work with the Sales Support team while reps are traveling to expedite broker responses.
• Develop proactive renewal process in coordination with underwriting and distribution teams to help increase persistency and profitability of renewal offerings.
• Identify and vet cross sell opportunities using internal cross sell tools.
• Create and maintain communications and updates related to product enhancements impacting stop loss alternate distribution channels with the region to ensure consistent messaging, including presenting at team huddles.
• Prepare sold case handoff information to expedite the new case implementation process.
• Provide market intelligence and expertise to Sales Support team during peak season. Prioritization of Stop Loss opportunities, etc.

Minimum Knowledge & Experience

• High School Diploma or GED
• Minimum 5 years of experience in Employee Benefits, Stop Loss, Self-Funded Healthcare, TPA, Broker/Consultant, Carrier, or related employee benefits distribution and sales support environments
• Demonstrated knowledge of stop loss insurance, self-funded health plans, and the employee benefits ecosystem
• Experience building and maintaining professional relationships with brokers, consultants, TPAs, carriers, vendors, or employer groups
• Proven ability to support business development initiatives, channel growth strategies, partnership development, or sales enablement activities
• Strong Microsoft Office Skills (Word, PowerPoint, Excel)
• Strong interpersonal, communication, presentation, and influencing skills
• Ability to manage multiple priorities and thrive in a fast-paced, collaborative environment
• Strong problem-solving, organizational, and critical-thinking capabilities
• Self-motivated with excellent time management and project coordination skills
• Ability to travel up to 25%

Preferred Knowledge & Experience

• Bachelor’s Degree

Compensation Pay Disclosure

Voya is committed to pay that’s fair and equitable, which means comparable pay for comparable roles and responsibilities. The below annual base salary range reflects the expected hiring range(s) for this position in the location(s) listed. In addition to base salary, Voya offers incentive opportunities (i.e., annual cash incentives, sales incentives, and/or long-term incentives) based on the role to reward the achievement of annual performance objectives. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Voya Financial is willing to pay at the time of this posting.

Actual compensation offered may vary from the posted salary range based upon the candidate’s geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

$108,860 - $136,080 USD

Be Well. Stay Well.

Voya provides the resources that can make a difference in your lives. To us, this means thriving physically, financially, socially and emotionally. Voya benefits are designed to help you do just that. That’s why we offer an array of plans, programs, tools and resources with one goal in mind: To help you and your family be well and stay well.

What We Offer

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year

Learn More About Voya Benefits (download PDF)

Critical Skills

• Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
• Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
• Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
• Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
• Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.

Learn More About Critical Skills

Equal Employment Opportunity

Voya Financial is an equal-opportunity employer. Voya Financial provides equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, creed, marital status, sexual orientation, gender identity, genetic information, or any other status protected by state or local law.

Reasonable Accommodations

Voya is committed to the inclusion of all qualified individuals. As part of this commitment, Voya will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please reference resources for applicants with disabilities.