Stop Loss Business Development Specialist

Voya Financial, Inc.; Minnesota; Hybrid; USD 109,000 - 136,000; Full time

Benefits offered by this job

Health insurance

401(k) matching

Tuition reimbursement

Paid time off

Volunteer time

Hybrid schedule

Job summary

Voya Financial, Inc. is seeking a Stop Loss Alternate Distribution Channels professional to support sales with national and regional teams. You will focus on expanding stop loss distribution, managing proposals, and maintaining key broker and TPA relationships to drive cross-sell opportunities.

The role requires strong knowledge of employee benefits and stop loss, plus the ability to travel up to 25% and coordinate with multiple stakeholders to optimize renewals and profitability.

Qualifications

• 5+ years of experience in Employee Benefits, Stop Loss, Self-Funded Healthcare, TPA, Broker/Consultant, Carrier, or related sales support environments.
• Demonstrated knowledge of stop loss insurance and the employee benefits ecosystem.
• Experience building professional relationships with brokers, TPAs, carriers, vendors, or employer groups.
• Strong Microsoft Office Skills (Word, PowerPoint, Excel).
• Ability to travel up to 25% and manage multiple priorities.

Responsibilities

• Develop and provide expertise on product information, market conditions, and distribution with a focus on alternate channels.
• Contribute to marketing and training materials related to stop loss channels.
• Identify processes, offerings, and distribution partners for stop loss channels.
• Coordinate broker and client opportunities with ERMs and Senior Sales Representatives.
• Review RFP data to improve quoting speed and accuracy.
• Develop renewal processes with underwriting and distribution teams to improve persistency.
• Identify and vet cross-sell opportunities using internal tools.
• Create communications about product enhancements with regional teams.

Skills

Stop Loss

Employee Benefits

Broker Relationships

Sales Support

MS Office

Time Management

Education

Bachelor's Degree

Tools

MS Office Suite

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 #LI-IB1

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

Voya Benefits:

• 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 At Voya, we have identified the following critical skills which are key to success in our culture:

• 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.

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.

Misuse of Voya's name in fraud schemes

Voya Financial, Inc., is a leading retirement, employee benefits and investment management company. Voya’s services and solutions help clear the path to financial confidence and a more fulfilling life for individual, workplace and institutional clients, supporting more than 18 million customer relationships.

Our Values

Voya’s values serve as our compass, bringing together our culture, performance, brand, vision, strategy and corporate responsibility activities. Our values guide our decision-making and behaviors allowing us to deliver worth to our customers, distribution partners, shareholders and each other. With a lens on balance, health & welfare, our work environment offers flexibility. The majority of our roles have adopted a hybrid schedule - working some days in the office and some days remotely, providing flexibility for work-life balance and still allowing the benefit of in-person collaboration. Some functions will continue to be 100% on-site and others may be fully remote, depending on business needs. We care. We do the right thing. We have customer passion. We have a winning spirit. We are the. We Certified by the Great Place to Work Institute as a Great Place to Work for the 10th consecutive year, Voya is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya’s culture is proudly recognized by multiple organizations. See a full listing of our awards and recognition.

For more information visit https://www.voya.com/