AVP, New Business & Advisory - Annuity

Are you passionate about being part of a team at a Fortune 100 company with nearly $70 billion in annual sales that delivers extraordinary care to help individuals and businesses prepare for and protect their future? At Nationwide®, “on your side” goes beyond just words. Our customers and partners are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

About the role

As an AVP, you’ll oversee Nationwide Financials' operations strategy and processes for Annuity New Business and Advisory business, ensuring that an outstanding service experience is provided to internal and external sales partners, firms, third-party administrators, Financial professionals and customers across all Annuity distribution channels. You will also lead the Policy Disbursements team for both the Life and Annuity Business and serve as the Regulation 60 Subject Matter expert and lead Life Suitability. You’ll be responsible for developing strategic solutions to enable the team to execute underwriting and new business strategy, processes to support adherence to annuity financial controls and stringent annuity regulatory requirements, and the strategy and processes for end-to-end service for Advisory business.

Responsibilities

• Develops, leads and implements effective new business strategy for all distribution channels and administrative strategy for Advisory channel consistent with Nationwide Financial business strategies and standards for the annuity business.
• Accountable for developing long-term, industry-leading strategy to support the business unit goals.
• Analyzes the external environment and competitors to competitively position Nationwide.
• Oversees and leads team working to create an aspirational future experience vision for Nationwide's annuity business operations.
• Serves as the relationship manager for Sales Distribution Networks and internal business partners. Establishes and maintains effective working relationships with all sales distribution channels and internal business partners.
• Leads team accountable for developing and implementing industry-leading business processes for the acquisition of annuities that are cost-effective, optimize technology, and foster continuous improvement.
• Develops and implements industry-leading processes for all service components of the Advisory business.
• Monitors key operations performance metrics and adjusts practices, as needed, to help ensure annuity business risk metrics are successfully achieved and consistent with risk targets established for overall annuity business. Often serves as SME amongst ALO leadership team as it relates to metrics, KPIs, and historical practices.
• Oversees operations to ensure achievement of service level objectives and quality standards.
• Oversees team who responds to the highest level of technical and most sophisticated or critical service issues and calls from sales partners, firms, Financial Professionals, and customers.
• Oversees call team and client relationship activities to ensure outstanding service for Advisory.
• Oversees all aspects of implementing enacted state and federal regulations for products and procedures, ensuring Operations is prepared and advised of audits/regulatory/legislative changes in a timely manner.
• Mentors, educates, and trains others on partnering with appropriate teams or individuals for the coordination of responses to audits.
• Serves as top-level advisor for leaders, peers, and team members on regulatory matters.
• Provides expertise related to responses to regulatory agency reports and findings and works closely with Corporate Compliance to resolve any issues.
• Oversees a Journey Experience Team including providing executive-level sponsorship and must effectively navigate the overall team ensuring the experience team works effectively across ALO and broader Annuity and enterprise.
• Serves as key stakeholder in the overall success of Annuity modernization including ensuring operations point of view is captured and represented and that proper execution and change can be led throughout the organization.
• Represents Nationwide as industry expert in suitability cases including testifying/representation and speaking on behalf of Nationwide.
• Collaborates and partners with product and actuarial leadership to ensure adequate large case requirements and execution.
• Accountable for policy distribution team for both Life and Annuity.
• Serves as registered Reg 60 Officer for Nationwide Financial serving as the sole contact for market conduct, procedures, and filing questions/reviews.
• Accountable for expense management/budget oversight. Sponsors development of solutions to streamline process and reduce operating expenses.
• Stays current on industry best practices and represents Nationwide on both internal and external committees.

Requirements

• Undergraduate degree in business administration, management, finance, pre-law, or related field and/or technical insurance coursework preferred. MBA preferred.
• FINRA Series 6 and 26 licenses required.
• 10 years of financial services experience in a customer service, quality control, or operations environment.
• Broad experience and understanding of managing Annuity new Business processes.
• Extensive leadership experience.

Skills

• Extensive knowledge of insurance industry concepts including, but not limited to, financial services products, compliance, post issue, regulations, and guidelines.
• Effective team leadership and management skills.
• Strong verbal and written communication skills.
• Ability to present to external audiences and Senior Leaders.
• Ability to make decisions and build consensus with peers.
• Proven ability to lead through change and drive effective teams.

Benefits

• Medical, dental, and vision insurance.
• Life insurance, short and long-term disability coverage.
• Paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year (pro-rated quarterly based on hire date).
• Nine paid holidays.
• 8 hours of Lifetime paid time off.
• 8 hours of Unity Day paid time off.
• 401(k) with company match.
• Company-paid pension plan.
• Business casual attire.

Pay

The national salary range for this role is $154,000.00 - $290,000.00. The expected starting salary range is $154,000.00 - $258,000.00. Placement within the actual starting salary range will be determined by a number of factors including skills, education, training, credentials, and experience of the candidate; the scope, complexity, and location of the role; and the cost of labor in the market.