Aegon Asset Management Senior Director, Third Party Oversight in Cedar Rapids, Iowa
Job FamilyVendor Management
Job Description SummaryTransamerica is seeking a Director of Third Party Oversight for the Individual Solutions business. Reporting to the COO of Individual Solutions, you will provide leadership and strategic direction for the oversight and management of third party execution and delivery of services to the organization. This includes development of standardize processes and capabilities for risk identification, assessment, measurement, mitigation, aggregation, and reporting.Job Description
Interpret vendor/third party contracts, participate in contract change negotiations, and monitor fulfillment of contractual obligations.
Monitor third party performance and compliance with contract terms and conditions, commitments and notifications. Benchmark activities against industry standards.
Establish productive management level relationships with third parties to ensure the two-way flow of information regarding strategies, priorities, requirements, disputes and issues.
Develop business continuity plans, including documenting exit strategies, contingency and transition plans, for services being moved to another vendor or in-house.
Coordinate between third party, business and other external parties on handoff/dependency activities including demand forecasting.
Set priorities, monitor performance and develop reporting, including routine scorecards of agreed upon KPIs; ensure third party vendor partner meets and/or exceeds contractual KPIs.
Drive and facilitate performance/delivery governance, service level monitoring, validation and maintenance activities.
Foster and facilitate an atmosphere of continuous process and performance improvement for vendors and the organization, seeking and applying best practices for processes, building cost benefit business cases for initiatives.
Work with internal stakeholders and third party partners to identify bottlenecks and drive solutions.
Request and/or assist in the development of corrective action plans for standards that are not met by the vendor.
Provide executive level risk, relationship, and performance reporting.
Monitor the first line vendor performance management routines to ensure compliance with Transamerica’s policies, procedures and approved framework.
Interface with the various third party Risk/Controls/Audit owners to evaluate results of reported controls deficiencies and remediation plans. Effectively manage the team to ensure successful remediation activities.
Champion, sponsor, and participate in key project initiatives and ensure all impacts to third party management are identified and considered.
Provide leadership to management team, including performance coaching and developmental opportunities to build a strong, qualified management team to meet the leadership demands of a constantly changing business and operating environment.
Characteristics of a Successful Candidate
In-depth knowledge of outsourcing functions, contract administration, project and financial management.
Understand the financial industry regulatory environment, including data privacy laws and regulations.
Solid understanding of insurance operations, risk and finance controls evaluation
Strategic mindset, able to distill complex scenarios into straightforward, prioritized plans that create buy in.
Passion to embrace change and challenge the status quo to find new solutions and drive out of the box ideas.
Ability to effectively resolve difficult disputes and business challenges using strong partnering and leadership skills.
Ability to organize, analyze, and present data in a digestible format with meaningful recommendations. Belief that good decision making is rooted in facts.
Ability to manage and plan complex, interdependent initiatives with a focus on balancing priorities for business value, resource commitments and attention to detail
Intellectual curiosity and a desire for ongoing personal and team development
Bachelor’s degree in Accounting, Finance, Business Management or related field, or equivalent experience.
Ten years of operations experience in the insurance /financial services industry, working with life, health and annuity markets.
Eight years of management experience.
Five years of experience working directly with third party vendors.
Leadership skills to oversee teams and drive performance results.
Negotiation and communication skills.
Analytical approach to problem-solving and managing a team with a focus on results and a sense of urgency.
Strong influencing skills with an issue mitigation approach.
*Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to the Colorado Equal Pay for Equal Work Act and Equal Pay Transparency Rules. It is estimated based on what a successful Colorado applicant might be paid. It assumes that the successful candidate will be in Colorado or perform the position from Colorado. Similar positions located outside of Colorado will not necessarily receive the same compensation. *
The salary for this position generally ranges between $155,000 and $205,000. This range is an estimate, based on potential employee qualifications, operational needs and other considerations permitted by law. The range may vary above and below the stated amounts, as permitted by Colorado Equal Pay Transparency Rule 4.1.2.
This position is also typically eligible for an annual bonus based on the Company Bonus Plan/Individual Performance and is at Company Discretion at a rate of 25%.
Why Work for Us
Total Rewards at Transamerica: It’s more than a paycheck.
Our comprehensive Total Rewards package is designed to help support you in many ways — throughout all stages of your life and career. We provide a competitive, market-driven program that encompasses base compensation, bonus potential, retirement, health and wellness benefits, learning and development opportunities, plus great employee perks. All designed with you in mind… to help you live your best life, grow personally and professionally - and feel valued for the work you do.
Learn more about our Total Rewards Package (https://www.transamerica.com/individual/about-us/careers/benefits/) .
Equal Opportunity Employer:
Transamerica Life Insurance Company is an Equal Employment Opportunity employer and does not discriminate against any applicant or employee because of age, religion, sex, gender identity, genetic information, race, color, national origin, pregnancy, sexual orientation, marital status, participation in the uniformed services (e.g. U.S. Armed Forces, National Guard), physical or mental disability, or any other status protected by federal, state, or local equal employment opportunities laws.
Applicants with physical or mental disabilities may be entitled to a form of reasonable accommodation under the Americans with Disabilities Act and certain state and local laws. A reasonable accommodation is a change in the way things are normally done which will insure equal employment opportunity without imposing undue hardship on the Transamerica Companies. Please contact: email@example.com if you are a job seeker with a disability, or are assisting someone with a disability, and require assistance to apply for one of our jobs.
Our Company is committed to providing accessibility to those with disabilities in a manner that is consistent with the principles of independence, dignity, integration and equality of opportunity, that is in compliance with the Accessibility for Ontarians with Disabilities Act 2005 ("AODA"). Please contact firstname.lastname@example.org if you are a job seeker with a disability, or are assisting someone with a disability, and require assistance to apply for one of our jobs.
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At Transamerica, hard work, innovative thinking and personal accountability are qualities that we honor and reward. We understand the potential that is unleashed by 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 focused on helping customers secure their long-term financial futures.
Transamerica is a part of AEGON, an international life insurance, pension, and asset management company. The AEGON companies employ approximately 28,000 people and have a strong presence in more than 20 countries across the globe. For more information, visit www.transamerica.com.