Job Classification:

Operations - Insurance Operations

Group Insurance is an operating unit within the U.S. Businesses Division of Prudential that primarily focuses on creating, distributing, and administering a complex range of life, disability, and supplemental health insurance products for many top Fortune 500 companies. Prudential has been underwriting group insurance plans since 1916.  Today, our Group Insurance business unit is the nation’s second largest group life carrier and a leading carrier for disability and supplemental health, proudly servicing nearly 20,000 clients—and insuring more than 20 million employees and their families.  Group Insurance has operation centers across the United States.

What will you do and what impact will you have?

Reporting directly to the Head of Underwriting, the VP, New Business Underwriting will have direct responsibility for the leadership of the Underwriting team accountable for  new business sales under 10,000 lives, as well as the RFP Proposal unit.  As a key member of the Underwriting leadership team, the Vice President is responsible for driving New Business performance and results, meeting revenue and profitability targets, delivering on Prudential's Value Proposition, and driving excellence and innovation within the Underwriting team. The Vice President will be a transformative business leader with a strong track record of success in the Underwriting Marketplace

Key Responsibilities:

• Foster strong relationships with external distribution partners, including brokers, enrollment firms, and technology partners
• Influence and support product development strategy
• New product implementation and process development
• Drive underwriting strategy
• Drive process integration across existing new business and renewal teams
• Drive technology and process improvement initiatives from ideation through scaling
• Own operational and financial performance for business segment
• Ensure necessary quality controls are in place to continuously evaluate underwriting performance and identify opportunities for improvement 
• Partner closely with Pricing, Product P&L, Distribution, and other business areas as needed to review and establish new business acquisition & case renewal strategies
• Implement approved new business acquisition & case renewal strategies and delivering expected results
• Partner with Pricing, Finance and Product P&L to establish cost estimates and expense assumptions used in underwriting and pricing
• Key contributor to the overall development and implementation of strategy, budgeting, goals, results, and staff development. 
• Own RFP proposal response process, driving quality and efficiency, while best positioning our products and services in the market

Stakeholder Management - Has strong relationship development and influencing skills having managed successfully across multiple senior stakeholders including regulators, partners, customers, internal/external stakeholders, and investors.

Strategic Mindset - Brings an innovative approach to building and maintaining an operational financial services organization leveraging new technologies and external service providers as needed, while navigating complex regulatory environments.

Talent/Culture Creator – Demonstrated ability in creating and instilling a culture that can attract, grow, and retain highly talented individuals committed to the vision of an organization. Serve as a role model and change champion. Develop a strong leadership and underwriting culture able to maximize resources and capability to deliver business results.

Leadership Capabilities

• Superior analytical and actuarial skills, with a track record of building a high-performing and risk smart controls
• A leader with strong people management skills who is a talent magnet and inspires and creates followership.
• Disciplined problem-solver who exhibits sound business judgement and innovative applications of risk adherence who can adapt as necessary and appropriate to the situation.
• Adept at navigating ambiguous situations, demonstrating resilience, and operating in the "grey".
• Sound grasp of financial, marketing, administrative and risk matters
• Decisive, action-oriented, and skilled in negotiation and influence.
• Strategic thinker who balances long-term planning with short-term business needs
• Results-driven, achieving objectives through both internal and outsourced relationships
• Agile and adaptable
• Strong interpersonal skills, clear communication skills, team orientation, and the desire and ability to work with multiple stakeholders and business partners

Qualifications:

• Bachelor's degree or equivalent experience preferred, MBA a plus
• Experience leading in the Group Insurance industry is required. Essential for this position is deep knowledge of and direct experience with:
  • Group Insurance Products including Life, Disability and Supplemental Health
  • Employer-paid & Voluntary products
  • Alternative Funding and Captive Insurers a plus
  • Dental, vision, and medical stop loss experience a plus
  • Various risk underwriting methods – inclusive of predictive analytics

What we offer you:

Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $197,200.00 to $266,900.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.

• Market competitive base salaries, with a yearly bonus potential at every level. 

• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave. 

• 401(k) plan with company match (up to 4%). 

• Company-funded pension plan. 

• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs. 

• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.  

• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.  

• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service. 

Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.