Transamerica
Director, Portfolio Management & Product Due Diligence -WFG (Hybrid)
Transamerica, Baltimore, Maryland, United States, 21276
Job Description Summary
The Director of Portfolio Management and Product Due Diligence is responsible for portfolio design, due diligence, marketplace research, pricing strategy, product profitability, and product implementation for World Financial Group (WFG) and Transamerica Financial Advisors (TFA). Works closely with the VP Director of Strategic Partnerships to design product and provider roadmaps and direct product due diligence activities to facilitate sales growth in the US and Canada. Oversees the ongoing monitoring of life insurance, annuity, and securities product solutions available on WFG and TFA platforms to provide a manageable set of competitive offerings to meet customer demands.
Responsibilities
Oversee approved product offerings to ensure competitive, profitable offerings to insurance agents, registered representatives and investment advisor representatives.
Maintain ownership of the product portfolio and associated impacts to sales, earnings, and profitability metrics. Interact with distribution leadership to gather feedback on product related needs.
Lead and enhance product due diligence processes ensuring alignment with short‑term and long‑term strategies, growth and expense targets, customer and regulatory requirements. Define business outcomes and KPIs for the product in collaboration with key stakeholders. Develop and maintain policies, procedures, governance charters, and committee guidelines to ensure a consistent and repeatable process.
Develop due diligence talent and implement a control framework to ensure the efficacy of the due diligence policies and procedures.
Present recommendations to Product Review Committee and communicate and obtain approvals, where needed, from control functions (finance, legal, risk, compliance) and maintain meeting minutes and governance documents. Coordinate internal audit and other oversight organizations.
Supervise team members responsible for analysis, tools/systems and product information.
Ensure products are placed and administered on the platforms as designed for maximum impact, optimal sales support and overall results. Oversee the implementation of new products addressing operations and supervisory administration, revenue and commission expense modeling and reporting, operational readiness and change management related to new offerings, and field training.
Work with Marketing, Operations, and Technology departments to ensure product information is up to date – including product guides, pricing, commission tables, etc. so that accurate information is easily obtainable.
Provide competitive intelligence, provide business leadership on pertinent regulatory issues related to the product offering or distribution channels, identify market opportunities and associated new product strategies. Build and present business case rationale for product decisions based on market trends, agent/customer needs, regulatory and channel requirements, due diligence, etc.
Qualifications
Extensive background in portfolio management, product development, and/or product due diligence (typically 10 or more years)
FINRA Series 6 or 7
FINRA Series 63
Life & Health insurance license
Strategic and critical thinker with strong business acumen
Product orientation with a strong sense of ownership to drive new business and to maintain existing business
Demonstrated success in portfolio management and modern product delivery processes including ideation, complex pipeline prioritization, value management, capacity planning, voice of the customer, etc.
Able to distill complex scenarios and large volumes of information into digestible formats with data driven, meaningful solutions, and prioritized plans for sensible execution
Ability to create and manage product roadmaps
Excellent communication skills with ability to present complex/abstract concepts in simple, cogent terms
Ability to influence others and develop partnerships at all levels across the organization
Preferred Qualifications
Bachelor’s degree in business or finance
FINRA Series 24/26
Sales and training experience
Working Conditions
Office Environment
Moderate Travel 10 to 25%
Travel for meetings with product providers and attendance at company events
Salary The Salary for this position generally ranges between $160,000 - $185,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in‑office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law. Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
Benefits
Competitive Pay
Bonus for Eligible Employees
Pension Plan
401k Match
Employee Stock Purchase Plan
Tuition Reimbursement
Disability Insurance
Medical Insurance
Dental Insurance
Vision Insurance
Employee Discounts
Career Training & Development Opportunities
Paid Time Off starting at 160 hours annually for employees in their first year of service.
Ten paid holidays per year (typically mirroring the New York Stock Exchange holidays).
Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
Parental Leave – fifteen days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
Adoption Assistance
Employee Assistance Program
Back‑Up Care Program
PTO for Volunteer Hours
Employee Matching Gifts Program
Employee Resource Groups
Inclusion and Diversity Programs
Employee Recognition Program
Referral Bonus Programs
Seniority Level Director
Employment Type Full‑time
Job Function Finance and Sales
Industry Insurance and Financial Services
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Responsibilities
Oversee approved product offerings to ensure competitive, profitable offerings to insurance agents, registered representatives and investment advisor representatives.
Maintain ownership of the product portfolio and associated impacts to sales, earnings, and profitability metrics. Interact with distribution leadership to gather feedback on product related needs.
Lead and enhance product due diligence processes ensuring alignment with short‑term and long‑term strategies, growth and expense targets, customer and regulatory requirements. Define business outcomes and KPIs for the product in collaboration with key stakeholders. Develop and maintain policies, procedures, governance charters, and committee guidelines to ensure a consistent and repeatable process.
Develop due diligence talent and implement a control framework to ensure the efficacy of the due diligence policies and procedures.
Present recommendations to Product Review Committee and communicate and obtain approvals, where needed, from control functions (finance, legal, risk, compliance) and maintain meeting minutes and governance documents. Coordinate internal audit and other oversight organizations.
Supervise team members responsible for analysis, tools/systems and product information.
Ensure products are placed and administered on the platforms as designed for maximum impact, optimal sales support and overall results. Oversee the implementation of new products addressing operations and supervisory administration, revenue and commission expense modeling and reporting, operational readiness and change management related to new offerings, and field training.
Work with Marketing, Operations, and Technology departments to ensure product information is up to date – including product guides, pricing, commission tables, etc. so that accurate information is easily obtainable.
Provide competitive intelligence, provide business leadership on pertinent regulatory issues related to the product offering or distribution channels, identify market opportunities and associated new product strategies. Build and present business case rationale for product decisions based on market trends, agent/customer needs, regulatory and channel requirements, due diligence, etc.
Qualifications
Extensive background in portfolio management, product development, and/or product due diligence (typically 10 or more years)
FINRA Series 6 or 7
FINRA Series 63
Life & Health insurance license
Strategic and critical thinker with strong business acumen
Product orientation with a strong sense of ownership to drive new business and to maintain existing business
Demonstrated success in portfolio management and modern product delivery processes including ideation, complex pipeline prioritization, value management, capacity planning, voice of the customer, etc.
Able to distill complex scenarios and large volumes of information into digestible formats with data driven, meaningful solutions, and prioritized plans for sensible execution
Ability to create and manage product roadmaps
Excellent communication skills with ability to present complex/abstract concepts in simple, cogent terms
Ability to influence others and develop partnerships at all levels across the organization
Preferred Qualifications
Bachelor’s degree in business or finance
FINRA Series 24/26
Sales and training experience
Working Conditions
Office Environment
Moderate Travel 10 to 25%
Travel for meetings with product providers and attendance at company events
Salary The Salary for this position generally ranges between $160,000 - $185,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in‑office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law. Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
Benefits
Competitive Pay
Bonus for Eligible Employees
Pension Plan
401k Match
Employee Stock Purchase Plan
Tuition Reimbursement
Disability Insurance
Medical Insurance
Dental Insurance
Vision Insurance
Employee Discounts
Career Training & Development Opportunities
Paid Time Off starting at 160 hours annually for employees in their first year of service.
Ten paid holidays per year (typically mirroring the New York Stock Exchange holidays).
Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
Parental Leave – fifteen days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
Adoption Assistance
Employee Assistance Program
Back‑Up Care Program
PTO for Volunteer Hours
Employee Matching Gifts Program
Employee Resource Groups
Inclusion and Diversity Programs
Employee Recognition Program
Referral Bonus Programs
Seniority Level Director
Employment Type Full‑time
Job Function Finance and Sales
Industry Insurance and Financial Services
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