Chief Risk Officer - Life Insurance, Executive

USAA

99d • $294,750 - $530,550

About The Position

The VP, Chief Risk Officer – Life is responsible for setting the vision and strategy for USAA's Life Insurance and Life Co. Risk Management function as well as ensuring integration with Life Co. and USAA strategies. The executive leads an organizational unit which has the responsibility for overseeing the identification, measurement, monitoring and control of aggregate risks covered by USAA’s risk taxonomy including credit, financial, operational, and strategic risks. Manages a team of direct and indirect resources dedicated to managing risk exposure and assures compliance with USAA policies, procedures and external regulatory requirements to include appropriate policies, procedures and control processes are in place across all Life Co. risk activities. We offer a flexible work environment that requires an individual to be in the office 4 days per week. This position will be based in San Antonio, TX.

Requirements

• Bachelor’s degree OR 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
• 10 years of experience in risk management in the life insurance industry or financial services industry, with a proven track record for developing and implementing risk strategies within a complex matrix environment that adhere to regulatory requirements and expectations.
• 8 years of people leadership experience in building, managing and/or developing high-performing teams is required.
• Demonstrated understanding of the full spectrum of regulatory actions, including examinations and other supervisory engagement and processes.
• Demonstrated knowledge of and accountability for compliance standards and sales practices.
• Significant, in-depth knowledge of life and investment products, in addition to a solid understanding of product pricing, marketing, liquidity risk, interest risk and operational risk management.
• Proven experience effectively presenting and articulating risk process and performance to high level executives and boards.
• Excellent written and verbal communication skills.
• Demonstrated ability identifying, interpreting, and proactively responding to emerging risk trends affecting the general market and USAA’s portfolio.

Nice To Haves

• 8 years of relevant experience in a life insurance company in a senior staff role within 2LOD Risk, Risk Management, Risk Operations, or Enterprise Risk.
• Extensive experience in risk management within the life insurance and annuity products.
• Deep understanding of relevant regulations and compliance frameworks.
• Experience with risk assessment methodologies and frameworks.
• Financial acumen: Understanding financial risks, budgeting, and the impact of risk on the company's financial performance.
• Knowledge of actuarial techniques used for pricing, reserving, capital.

Responsibilities

• Provides executive level leadership and management to the Life Co. and USAA organization and effectively challenges the business and leadership team on tradeoffs of growth and risk.
• Ensures the timely and accurate identification, assessment, measurement and management of all significant or material risks to Life Co.
• Ensures policies, procedures, limits, measurements and reporting are in place for effective risk management.
• Acts as a trusted advisor to the Chief Risk Officer (CRO) and operates as a key member of CRO’s leadership team.
• Creates strong collaborative working relationship with other Senior Risk Officers (SRO) and provides leadership in running the Chief Risk Office.
• Develops a strong collaborative partnership with compliance, security and audit to effectively and efficiently manage risk within the Life Co. and USAA.
• Responsible for the management of Life Co.’s risk appetite framework, including risk governance structure, risk quantification, risk aggregation, risk and compliance testing, and risk reporting.
• Oversees and directs the management of credit, operational and compliance risk, market risk, forecasting, stress testing and modeling, and Life Co. and USAA risk management.
• Leads the annual process for setting risk appetite and limits as part of the operating planning process.
• Ensure adherence to the USAA risk management framework.
• Identifies and monitors top and emerging risks within the corporation including risk to Life Co.’s business model and balance sheet.
• Links the strategic and operating plans to Life Co.’s risk appetite.
• Actively engages Life Co. Product Line Leaders and staff management to ensure risks are addressed in a timely manner and in alignment with risk appetite/profile.
• Assists USAA Boards in fulfilling their governance responsibilities for risk oversight.
• Actively engages in Board meetings and acts as a trusted advisor to the Life Co. President and operates as a key member of Life Co. leadership team.
• Serves as key contact for Life Co. regulators on all risk related matters.
• Builds and oversees a team of employees for assigned functional area through ongoing execution of recruiting, development, retention, coaching and support, performance management, and managerial activities.

Benefits

• Comprehensive medical, dental and vision plans.
• 401(k) and pension.
• Life insurance.
• Parental benefits.
• Adoption assistance.
• Paid time off program with paid holidays plus 16 paid volunteer hours.
• Various wellness programs.
• Career path planning and continuing education.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees