Transamerica
Head of Financial Risk Management
Transamerica, Phila, Pennsylvania, United States, 19117
Job Family
Financial Risk
About Us
At 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 Are
We 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 Do
Transamerica 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 Summary Support the Chief Risk Officer (CRO) by providing Financial, Product & Capital Risk leadership for Transamerica.
Lead financial risk management conversations with key internal and external stakeholders. Provide subject matter expertise to the CRO and Chief Financial Officer for financial risk focused items including 1) Measurement and monitoring of financial, product, and capital risk; 2) Asset liability management (ALM) and hedging initiatives, and oversight of ALM practices; 3) Design of methodology, in particular financial risk aspects of economic framework; 4) Maintenance of financial risk aspects of the Enterprise Risk Management framework, and setting of risk strategy; 5) Champion and establish, over time, best in class and fit for purpose modeling capabilities to measure credit, market, and capital risk.
Job Description
Responsibilities Ensure financial risks are managed through effective review, constructive challenge, and meaningful discussion with business leaders emphasizing transparent decision-making in alignment with the established risk management framework and governance. Establish productive relationships with risk owners, ensure appropriate data-driven analysis supports decisions, and actively participate in risk governance forums. Operate in a leadership capacity in alignment with the CRO to communicate appropriate updates on financial risks to key internal and external stakeholders. Maintain a pulse on top financial risks to Transamerica and communicate messages targeted to specific audiences in a relatable, transparent way. Manage financial risk management staff in meeting department functional goals. Clarify priorities and expectations, empower and guide the team, identify and develop key talent. Enhance risk modeling capabilities to provider richer and quicker directional insights. Represent Financial Risk in committees and provide opinion on issues based on independent analysis and insight. Act as a subject matter expert within Risk and a respected partner for the business. Work closely with global Head of Financial Risk on maintenance of ERM framework, including risk methodology, financial risk policies, and risk strategy in defining risk preference and setting risk limits. Provide leadership and support to enhance ALM initiatives and help to embed the ALM standards of practice. Provide oversight of existing ALM practices, including compliance monitoring and independent modelling. Produce financial risk reporting to governance committees, Boards, and internal/external stakeholders. Provide expertise and supports the business in analyzing financial risks in asset and product portfolios. Act as strategic business partner on financial risk topics. Qualifications
Bachelor's degree in finance, actuarial, economics, mathematics or related field 12 of experience in financial risk management, financial management, or related area Eight years of experience in the insurance industry Knowledge and experience in investment and mismatch risk management, derivatives, insurance products, and insurance valuation principles Forward thinker able to place risks and decisions in context of strategic impacts and anticipate emerging risks Ability to understand the audience and craft communications that effectively tell the story Analytical skills to understand complex problems, frame appropriate questions, and determine when analysis is sufficient to support decisions Leadership skills to influence at the highest levels and manage relationships throughout the organization Decision making ability to integrate diverse perspectives to drive best outcome Integrity to uphold risk management principles and mandates Ability to challenge conventional practices and pursue continuous improvement Strong planning, prioritizing and goal setting skills Preferred Qualifications
Advanced degree in finance, actuarial, economics, mathematics or related field Professional certifications (e.g. FSA, CFA) Background in an international insurance corporate setting Working Environment:
Employees will be assigned to one of the following work location designations:
In office employees will perform all of their work at a Company office location. Hybrid employees will need to work at a Company office location at times and a remote work location (typically their home) at times. Commuting Remote employees will need to report to a Company office location at times, but will perform their work primarily remotely. Non-commuting Remote employees will not be assigned to report to a Company office location (although they may need to travel to a Company office upon request) and will perform their work remotely. *Open to considering alternate locations based on the candidate's skillset and background
What You Receive:
A Comprehensive Wealth + Health package. It's our passion to empower people, and especially our employees, to add years to their lives and more life to their years. That means a healthy account balance and a healthy body to match. As you'll come to discover, Wealth + Health is a central part of everything we do!
Wealth Benefits; Competitive Pay, Bonus, and Benefits Package; Pension Plan, 401k Match, Employee Stock Purchase Plan, Tuition Reimbursement, Disability Insurance, Employee Discounts, Career Training & Development Opportunities, Certification Sponsorship
Health and Work/Life Balance Benefits; Be Well Company sponsored holistic wellness program which includes Wellness Coaching and reward dollars, Parental Leave, Adoption Assistance, Employee Assistance Program, College Coach Program, Back-up Care Program, Paid Time Off to Volunteer, Employee Matching Gifts Program, Employee Resource Groups, Inclusion and Diversity Programs, Employee Recognition Program
Worried about not having every single qualification listed? It's okay. If it's a role you're interested in, we encourage you to apply. Employees who enjoy their jobs are one of our favorite things.
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 College Coach 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
About Us
At 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 Are
We 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 Do
Transamerica 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 Summary Support the Chief Risk Officer (CRO) by providing Financial, Product & Capital Risk leadership for Transamerica.
Lead financial risk management conversations with key internal and external stakeholders. Provide subject matter expertise to the CRO and Chief Financial Officer for financial risk focused items including 1) Measurement and monitoring of financial, product, and capital risk; 2) Asset liability management (ALM) and hedging initiatives, and oversight of ALM practices; 3) Design of methodology, in particular financial risk aspects of economic framework; 4) Maintenance of financial risk aspects of the Enterprise Risk Management framework, and setting of risk strategy; 5) Champion and establish, over time, best in class and fit for purpose modeling capabilities to measure credit, market, and capital risk.
Job Description
Responsibilities Ensure financial risks are managed through effective review, constructive challenge, and meaningful discussion with business leaders emphasizing transparent decision-making in alignment with the established risk management framework and governance. Establish productive relationships with risk owners, ensure appropriate data-driven analysis supports decisions, and actively participate in risk governance forums. Operate in a leadership capacity in alignment with the CRO to communicate appropriate updates on financial risks to key internal and external stakeholders. Maintain a pulse on top financial risks to Transamerica and communicate messages targeted to specific audiences in a relatable, transparent way. Manage financial risk management staff in meeting department functional goals. Clarify priorities and expectations, empower and guide the team, identify and develop key talent. Enhance risk modeling capabilities to provider richer and quicker directional insights. Represent Financial Risk in committees and provide opinion on issues based on independent analysis and insight. Act as a subject matter expert within Risk and a respected partner for the business. Work closely with global Head of Financial Risk on maintenance of ERM framework, including risk methodology, financial risk policies, and risk strategy in defining risk preference and setting risk limits. Provide leadership and support to enhance ALM initiatives and help to embed the ALM standards of practice. Provide oversight of existing ALM practices, including compliance monitoring and independent modelling. Produce financial risk reporting to governance committees, Boards, and internal/external stakeholders. Provide expertise and supports the business in analyzing financial risks in asset and product portfolios. Act as strategic business partner on financial risk topics. Qualifications
Bachelor's degree in finance, actuarial, economics, mathematics or related field 12 of experience in financial risk management, financial management, or related area Eight years of experience in the insurance industry Knowledge and experience in investment and mismatch risk management, derivatives, insurance products, and insurance valuation principles Forward thinker able to place risks and decisions in context of strategic impacts and anticipate emerging risks Ability to understand the audience and craft communications that effectively tell the story Analytical skills to understand complex problems, frame appropriate questions, and determine when analysis is sufficient to support decisions Leadership skills to influence at the highest levels and manage relationships throughout the organization Decision making ability to integrate diverse perspectives to drive best outcome Integrity to uphold risk management principles and mandates Ability to challenge conventional practices and pursue continuous improvement Strong planning, prioritizing and goal setting skills Preferred Qualifications
Advanced degree in finance, actuarial, economics, mathematics or related field Professional certifications (e.g. FSA, CFA) Background in an international insurance corporate setting Working Environment:
Employees will be assigned to one of the following work location designations:
In office employees will perform all of their work at a Company office location. Hybrid employees will need to work at a Company office location at times and a remote work location (typically their home) at times. Commuting Remote employees will need to report to a Company office location at times, but will perform their work primarily remotely. Non-commuting Remote employees will not be assigned to report to a Company office location (although they may need to travel to a Company office upon request) and will perform their work remotely. *Open to considering alternate locations based on the candidate's skillset and background
What You Receive:
A Comprehensive Wealth + Health package. It's our passion to empower people, and especially our employees, to add years to their lives and more life to their years. That means a healthy account balance and a healthy body to match. As you'll come to discover, Wealth + Health is a central part of everything we do!
Wealth Benefits; Competitive Pay, Bonus, and Benefits Package; Pension Plan, 401k Match, Employee Stock Purchase Plan, Tuition Reimbursement, Disability Insurance, Employee Discounts, Career Training & Development Opportunities, Certification Sponsorship
Health and Work/Life Balance Benefits; Be Well Company sponsored holistic wellness program which includes Wellness Coaching and reward dollars, Parental Leave, Adoption Assistance, Employee Assistance Program, College Coach Program, Back-up Care Program, Paid Time Off to Volunteer, Employee Matching Gifts Program, Employee Resource Groups, Inclusion and Diversity Programs, Employee Recognition Program
Worried about not having every single qualification listed? It's okay. If it's a role you're interested in, we encourage you to apply. Employees who enjoy their jobs are one of our favorite things.
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 College Coach 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