AVP, Operations

$120,000 - $160,000/Yr

Wilton Re - Norwalk, CT

Full-time - Mid Level

Hybrid - Norwalk, CT

About the position

Wilton Re Services, Inc. is seeking an Assistant Vice President (AVP) of Operations who will leverage analytical and project management skills to oversee both acquisition integration programs and the ongoing management of in-force policies. This role is pivotal in ensuring that the integration of acquired blocks of business is seamless and efficient, requiring a deep understanding of the insurance industry, particularly in life and annuity products. The ideal candidate will possess a strong background in project management, with the ability to structure and manage high-touch projects while facilitating solutions across various subject areas. In this position, the AVP will gain extensive knowledge in direct, ceded, and assumed insurance concepts, as well as the intricacies of integrating acquired blocks, which includes administration during the transition period, policy conversion, process integration, and data integration. The role encompasses all aspects of insurance operations, including policy owner services, claims, actuarial functions, regulatory reporting and compliance, accounting, and financial reporting. The AVP will be responsible for ensuring operational effectiveness both pre-and-post changes in administration, collaborating with various functional areas and external parties to achieve this goal. The responsibilities of the AVP will be divided between acquisition integration (75%) and in-force management (25%). In acquisition integration, the AVP will assist in due diligence activities, manage transition plans, oversee third-party providers, and compile analyses to resolve issues during the transition and conversion phases. For in-force management, the AVP will monitor service level agreements, analyze results, and contribute to internal and external reporting. Additionally, the AVP will manage project lifecycles, define project scopes, and communicate effectively with stakeholders to ensure project expectations are met.

Responsibilities

• Assist in due diligence activities including tracking operational requests and responses, conducting expense analyses, and documenting risk assessments.
• Structure and manage transition plans across various functional areas and phases of integration from pre-closing to post-transition.
• Coordinate activities across Wilton Re functional areas and external parties to establish operational effectiveness both pre-and-post change in administration.
• Conduct general oversight of third-party providers that provide data conversion, target system modification, and business process conversion planning and execution.
• Assist in compiling analysis and recommendations to resolve issues or mitigate risks during the transition and conversion period.
• Conduct oversight in the post-conversion phase where special monitoring or projects apply upon conversion of administration.
• Assist in the general oversight of third parties that provide operational services for in-force management.
• Monitor Service Level Agreements and other operational aspects for in-force management activities.
• Determine frequency and content of status reports, analyze results, and troubleshoot problem areas/mitigate risks for special projects.
• Collaborate with partners to establish or refine policies and procedures that define the necessary aspects of administration.
• Contribute to internal and external reporting and presentations, including Board reporting.
• Break down high-level scope into applicable work items across multiple disciplines and organizations.
• Define project scope, goals, and approach in collaboration with key contributors.
• Establish project plans including milestones, timelines, dependencies, and deliverables.
• Manage the entire project lifecycle through tracking, analyzing, and mitigating risks and issues.
• Communicate and manage project expectations to owners, sponsors, team members, and other stakeholders.

Requirements

• Minimum 5 years of experience in the life and annuity insurance industry with a focus in business operations and project leadership.
• Strong analytical and critical thinking skills.
• Excellent oral, written, and presentation communication skills.
• Superior influencing and relationship management skills.
• Highly organized, detail-oriented, and capable of self-managing and multi-tasking with excellent time management.
• Relevant experience working with various support functions such as finance, controls, information technology, and third-party management.
• Understanding of Assumed and Ceded insurance concepts, processes, and data.
• Proficient in MS Office including Excel, Word, and PowerPoint.

Nice-to-haves

• Ability to query and manipulate large sets of data from disparate sources preferably using SQL.
• Understanding of basic aspects and tenets of Software Development Life Cycle (SDLC) as it applies to project work.
• Experience with Extract, Transform, Load (ETL) projects such as data conversion and data integration.
• Experience with project planning software.

Benefits

• Competitive vacation and sick time, including company-paid holidays, floating holidays, and early closing days.
• 401(k) plan with employer contribution - US Employees Only.
• Profit Sharing Program.
• Competitive parental leave.
• Health, vision, dental, and life insurance, including access to health and wellness programs.
• Actuarial Development Program (ADP) for Actuarial employees taking exams.
• Employee Assistance Program (EAP).
• Current hybrid working environment.
• Employee Engagement Events and various committees on site to join.