VP, Alternative Product Solutions, Insurance

Posted:
8/19/2024, 5:00:00 PM

Location(s):
New York, New York, United States ⋅ New York, United States

Experience Level(s):
Expert or higher

Field(s):
Finance & Banking ⋅ Product

Workplace Type:
Hybrid

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.

Are you ready to join a company with a strong purpose and a winning culture? Start your Voyage – Apply Now

Position Profile

This position will be part of the Alternative Product Solutions team, a small dedicated team responsible for the product development and growth of Voya’s private and alternatives platform. The privates and alts platform is manages over $60 billion across a suite of private credit, residential and commercial mortgages, and project finance strategies, among others.  Growth of the private and alts platform is a key corporate initiative, with a robust product pipeline across multiple investment strategies and asset classes. Preference is for a candidate with knowledge of product structuring, particularly with respect to the Insurance channel.  The position will need to partner with both internal stakeholders and third parties, including clients.  An ideal candidate is able to leverage quantitative structuring expertise with strong project management skills to help bring client forward solutions from ideation to completion.

The Contributions You'll Make

  • Evaluate and develop new vehicles that will enable the distribution of Voya’s private market strategies globally, with a particular focus on Insurance clients.  Focus on private credit strategies including middle market, infrastructure debt, real estate, private ABS and secondaries.
  • Act as key point of contact within product team on insurance asset management client issues, trends, and developments. Follow and track competitor offerings and understand Voya’s positioning in the marketplace.
  • Serve as subject matter expert on fund vehicles, including the associated implications (on tax, capital treatment, regulatory matters) to support the distribution of new and existing strategy capabilities
  • Lead the assessment, project management and launch of new product structures (e.g., private funds, rated note feeders, interval funds, private REITS, etc).  Collaborate with senior partners from Product, Investments, Legal and Compliance, etc. and assess pre-launch readiness.
  • Participate in client or prospect discussions as needed related to product structures and solutions
  • Utilize experience in capital efficient structuring for insurance companies to advise on optimal investment vehicles for specific opportunities.   Assist in the evaluation and development of new structures alongside investment teams, rating agencies, and structuring agents, as required.
  • Develop analytical tools and financial modeling to help evaluate fund debt structures, to inform business decisions and drive growth.
  • Provide guidance and product information to portfolio managers, marketing, and sales, to help with client positioning and due diligence requests.  Partner with Marketing to commercialize existing strategies and create content that demonstrates Voya’s value proposition to clients in different market segments.

 

Preferred Knowledge and Experience

  • 10+ years of financial services‐related experience with a focus on private fixed income strategies, including middle market, infrastructure debt, real estate debt, private ABS and private equity and private credit secondary funds.
  • Insurance investment management related experience gained through work at an insurance company, asset manager, investment bank, or consulting firm a plus.
  • Ideal candidate has experience with structuring capital efficient investment solutions for insurance companies, including rated notes, CLOs, CFOs or other structured finance products a plus.  Experience working with or at a rating agency or at an investment bank structuring transactions a plus.
  • Strong understanding of the features, terms, and regulatory requirements applicable to private funds, including master feeder, and rated note funds.
  • Strong understanding of  the NAIC, capital treatment (RBC, S&P, BCaR), accounting (STAT/GAAP), and regulatory frameworks for insurance companies required.
  • Strong analytical, financial modeling, and quantitative skills required.
  • Strong interpersonal skills, and ability to build relationships and work with professionals at all levels and departments within the organization. 
  • Team player and problem solver with ability to research solutions and find creative resolutions.
  • Highly motivated self-starter with the ability to set priorities, manage cross stakeholder projects and drive decision making.
  • Undergraduate degree with an excellent academic background; additional credentials including CFA,CAIA, MBA or CPA a bonus
  • Highly proficient in Excel, Word, PowerPoint
  • Series 7 and 63 or ability to obtain

[Please Note: This position has been designated as a hybrid-office/home role in Voya's New York office. Details of your in-office schedule will be finalized with your manager] 

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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.

$150,000 to $195,000 USD

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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