Life Underwriting Risk Management Consultant

Transamerica Corporation; Baltimore, Cedar Rapids, Philadelphia, Denver (MD, IA, Philadelphia County, CO); On-site; USD 125,000 - 135,000; Full time

Benefits offered by this job

Annual bonus

Pension plan

401k match

Tuition reimbursement

Job summary

Transamerica Corporation in Baltimore seeks a senior underwriting auditor to act as SME for underwriting risk audits and coordinate external audits, market conduct exams, and MIB reviews. You will help ensure internal controls align with Sarbanes-Oxley and company policies, while leading data collection and audit guidance.

Ideal candidates bring extensive underwriting and auditing experience, strong communication, and the ability to train staff, lead projects, and act as a management proxy as

Qualifications

• Ten years of underwriting experience with mortality and morbidity-based products.
• Four years of directly related auditing experience.
• Thorough knowledge of underwriting practices and industry standards.
• Excellent interpersonal and written/verbal communication skills.
• Attention to detail and data interpretation for quality reviews.
• Experience with Sarbanes-Oxley regulations.

Responsibilities

• Perform forensic review audits of underwriting work and guide team members.
• Lead data collection for audits and provide recommendations on contestable claims.
• Trend and report mortality and morbidity experience for specified markets.
• Lead team meetings and special projects; provide training for new staff.
• Serve as proxy for management when needed.

Skills

Underwriting

Auditing

Sarbanes-Oxley

Data analysis

Communication

Attention to detail

Education

Bachelor’s degree in business or equivalent experience

Job description

Job FamilyUnderwritingAbout UsAt Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment — one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.Who We AreWe believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.What We DoTransamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.Job Description SummaryServe as a subject matter expert for Underwriting risk audits and point of contact for external auditors. Lead the participation in market conduct exams, reinsurance audits, and Medical Information Bureau (MIB) audits. Ensure the effectiveness of internal controls in compliance with company policies, Sarbanes-Oxley Act, and standard industry practices.Job DescriptionResponsibilitiesPerform forensic review audits of underwriting work and provide guidance to team members.Lead team in collecting data for audits.Serve as a consultant to the Claims department and provide recommendations on contestable claims.Trend and report on the mortality and morbidity experience for specified insurance markets.Assis the Agent Quality Research Manager, as necessary.Lead team meetings as needed.Lead special projects and assignments.Provide training for new team members.Serve as proxy for management as needed.QualificationsBachelor’s degree in a business field or equivalent experienceTen years of underwriting experience with mortality and morbidity-based productsFour years of directly related auditing experienceThorough knowledge of underwriting practices and industry standards, including but not limited to Sarbanes-Oxley regulationsExcellent interpersonal and written/verbal communication skills to provide feedback and consultation related to audit outcomes, as well as assist and train lower-level staffAttention to detail and analytical skills to perform quality review (audit) duties and interpret data derived from quality reviewsPreferred QualificationsFLMI, FALU certificationsContestable claims experiencePost-issue underwriting experienceProject management experienceWorking ConditionsRemote EnvironmentThe Salary for this position generally ranges between $125,000-$135,000 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 15% 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 emailHybrid office environment: 3 days in office (Baltimore, Cedar Rapids, Philadelphia, Denver)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 OfferFor eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.Compensation BenefitsCompetitive PayBonus for Eligible EmployeesBenefits PackagePension Plan401k MatchEmployee Stock Purchase PlanTuition ReimbursementDisability InsuranceMedical InsuranceDental InsuranceVision InsuranceEmployee DiscountsCareer Training & Development OpportunitiesHealth and Work/Life Balance BenefitsPaid 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 DollarsParental 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 AssistanceEmployee Assistance ProgramBack-Up Care ProgramPTO for Volunteer HoursEmployee Matching Gifts ProgramEmployee Resource GroupsInclusion and Diversity ProgramsEmployee Recognition ProgramReferral Bonus ProgramsInclusion & DiversityWe 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 BackWe 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 CompanyAegon 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