AVP Operational Risk Management - Employee Benefits

Together we fight for everyone's opportunity for a better financial future.

We will do this together - with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone's access to opportunities. The status quo is not good enough … we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future. We know that reaching this future depends on our actions today.

Like our Purpose Statement, Voya believes in being bold and committed to action. We are committed to a work environment where the differences that we are born with - and those we acquire throughout our lives - are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision.

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Preferred locations: Minneapolis, Hartford/Windsor, Scottsdale

Summary:

The Assistant Vice President for Business Risk in Employee Benefits will play a pivotal role in enhancing the risk management framework within the organization. Reporting directly to the Senior Vice President of Risk overseeing the Employee Benefits business, the AVP will be responsible for proactive collaboration with the business unit to identify, assess, and mitigate internal and external business risks, ensuring compliance with regulatory standards, and fostering a risk-aware culture. The AVP provides oversight and challenge to the first line of defense to ensure risks are effectively managed. This leadership position requires a strategic thinker with strong analytical capabilities, deep industry knowledge, and the ability to communicate effectively across various stakeholders. This role will manage a small team of direct reports.

Key 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 to provide 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 support the business in mitigating 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 the Risk leaders and committees and other key stakeholders, detailing risk profiles, and mitigation strategy.
• Create a high-performing, cohesive team by having regular 1:1's, setting clear goals, providing constructive feedback, coaching, and fostering a continuous learning environment that aligns with career goals and company objectives.
• Foster a culture of excellence by prioritizing top-tier hiring, conflict resolution, and performance monitoring.

Key Qualifications:

• 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.

Key Candidate Profile Traits for Success:

• 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.

This role presents an exciting opportunity for an experienced risk management professional to contribute to the success of the Employee Benefits business while ensuring robust risk governance and compliance practices.

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Compensation Pay Disclosure:

Voya is committed to pay that's fair and equitable, which means comparable pay for comparable roles and responsibilities.

The below annual base salary range reflects the expected hiring range(s) for this position in the location(s) listed. In addition to base salary, Voya offers incentive opportunities (i.e., annual cash incentives, sales incentives, and/or long-term incentives) based on the role to reward the achievement of annual performance objectives. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Voya Financial is willing to pay at the time of this posting.

Actual compensation offered may vary from the posted salary range based upon the candidate's geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

$175,000 - $195,000

Be Well. Stay Well.

Voya provides the resources that can make a difference in your lives. To us, this means thriving physically, financially, socially and emotionally. Voya benefits are designed to help you do just that. That's why we offer an array of plans, programs, tools and resources with one goal in mind: To help you and your family be well and stay well.

What We Offer

• 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/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

Learn more about Voya benefits (download PDF)

Critical Skills

At Voya, we have identified the following critical skills which are key to success in our culture:

• Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
• Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
• Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
• Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
• Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.

Learn more about Critical Skills

Equal Employment Opportunity

Voya Financial is an equal-opportunity employer. Voya Financial provides equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, creed, marital status, sexual orientation, gender identity, genetic information, or any other status protected by state or local law.

Reasonable Accommodations

Voya is committed to the inclusion of all qualified individuals. As part of this commitment, Voya will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please reference resources for applicants with disabilities.

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