AVP Operational Risk Management - Employee Benefits

About the Role

We are seeking an Assistant Vice President for Business Risk in Employee Benefits to enhance our risk management framework. This leadership position reports directly to the Senior Vice President of Risk overseeing the Employee Benefits business. The AVP will collaborate proactively with the business unit to identify, assess, and mitigate internal and external business risks, ensure compliance with regulatory standards, and foster a risk-aware culture. This role provides oversight and challenge to the first line of defense to ensure risks are effectively managed and requires a strategic thinker with strong analytical capabilities, deep industry knowledge, and the ability to communicate effectively across stakeholders. The AVP will manage a small team of direct reports.

Responsibilities

• Develop and implement a comprehensive risk management strategy for the Employee Benefits business.
• Provide risk advice, monitor, and assess business risks associated with sales, product offerings, operational processes, finance, and market conditions.
• Build and maintain relationships at all levels of the organization to understand current initiatives, risks, and roadblocks, providing timely and effective risk support.
• Conduct regular risk assessments, stress testing, and scenario analysis to evaluate potential vulnerabilities.
• Ensure adherence to regulatory requirements and internal policies, driving compliance through effective risk governance.
• Collaborate with cross-functional teams, such as compliance, legal, privacy, and internal audit, to identify and mitigate risk to an acceptable level.
• Provide training and guidance to teams on risk management best practices and foster a culture of risk awareness.
• Lead cross-functional projects to improve risk reporting, risk metrics, and overall risk management capabilities.
• Prepare reports and presentations for Risk leaders, committees, and other key stakeholders, detailing risk profiles and mitigation strategies.
• Create a high-performing, cohesive team through regular 1:1s, clear goal-setting, constructive feedback, coaching, and fostering a continuous learning environment aligned with career goals and company objectives.
• Foster a culture of excellence by prioritizing top-tier hiring, conflict resolution, and performance monitoring.

Requirements

• Bachelor’s degree in Finance, Business Administration, Risk Management, or a related field.
• Minimum of 5 years of relevant experience in risk management, compliance, or operational risk within the financial services industry, preferably in employee benefits.
• Proven experience in risk assessment methodologies, including quantitative and qualitative risk analysis.
• Excellent analytical skills with a strong attention to detail and the ability to synthesize complex information.
• Ability to travel.

Skills

• Strategic Mindset: Ability to align risk management initiatives with overall business goals and effectively anticipate future risk scenarios.
• Strong Leadership Skills: Demonstrated ability to influence and lead cross-functional teams while fostering collaboration and engagement.
• Effective Communicator: Exceptional verbal and written communication skills, with the ability to deliver complex information clearly and concisely to diverse audiences.
• Proactive and Analytical: A critical thinker who approaches challenges with creativity and a strong problem-solving orientation.
• Adaptable: Comfortable working in a dynamic environment with a willingness to adjust to changing priorities and regulatory landscapes.
• Ethical Judgment: Strong commitment to integrity and ethical standards, with a focus on compliance and corporate governance.

Pay

The annual base salary range for this position is $175,000 - $195,000 for candidates hired to work in Minneapolis, Hartford/Windsor, or Scottsdale. In addition to base salary, Voya offers incentive opportunities (e.g., annual cash incentives, sales incentives, and/or long-term incentives) based on the role to reward the achievement of annual performance objectives. Actual compensation offered may vary from the posted salary range based on geographic location, work experience, education, licensure requirements, and/or skill level. Salaries for part-time roles will be prorated based on the agreed-upon number of hours to be regularly worked.

Benefits

• Health, dental, vision, and life insurance plans.
• 401(k) Savings plan with generous company matching contributions (up to 6%).
• Voya Retirement Plan – employer-paid cash balance retirement plan (4%).
• Tuition reimbursement up to $5,250 per year.
• Paid time off, including 20 days paid time off, nine paid company holidays, and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year.