Job Description
Position Overview
Risk-Based Quality Assurance Team Leader is responsible for developing and implementing a risk-based approach to quality assurance processes within Operations and Transformation. This role involves identifying, assessing, and mitigating risks related to life and annuity product operations spanning from submission of an application to commissions paid to Financial Professionals, ensuring compliance with industry standards, and fostering a culture of continuous improvement.
We’ve embraced a flexible, hybrid approach to work. Based on your role and personal preference, we empower you to choose where you work best. This model allows you to balance your life and bring your whole self to work.
Responsibilities
Quality Assurance Strategy:
- Develop and implement an efficient risk-based quality assurance strategy aligned with organizational goals. Identify areas to incorporate the use of data analytics and dashboards within the Quality Program.
- Establish quality metrics and KPIs to measure the effectiveness of quality assurance processes.
Risk Assessment
- Conduct thorough risk assessments to identify potential quality risks throughout the product lifecycle. Vary testing to provide key insights on operational effectiveness.
- Analyze data and trends to inform risk management decisions.
Team Leadership
- Lead and mentor the quality assurance team, fostering a collaborative and high-performance culture.
- Provide training and support to staff on risk management and quality assurance best practices.
Continuous Improvement
- Promote a culture of continuous improvement through root cause analysis and corrective action plans.
- Collaborate with the Director of Training & Quality to enhance processes and overall quality.
Documentation And Reporting
- Maintain accurate documentation of quality assurance processes and risk assessments.
- Develop and deliver efficient, data driven reporting of quality results to senior management on quality performance and risk management on a monthly basis.
Stakeholder Collaboration
- Work closely with Service Operations leadership to ensure quality is integrated throughout all stages of development and production.
- Work closely with the Director of Training & Quality to implement remedial training to identified associates.
Skills And Abilities
- Proven leadership experience in developing and managing quality initiatives within the life insurance industry.
- Experience in building and managing teams focused on Risk-Based Quality (RBQ).
- Strong analytical skills with the ability to interpret data, identify trends, and make data-driven decisions to improve business outcomes.
- Deep understanding of quality assurance principles, training methodologies, and regulatory requirements in the financial services industry.
- Demonstrated ability to drive strategic initiatives, manage teams, and deliver results in a complex organizational environment.
Education
- Bachelor's Degree Business Administration, Accounting, Finance, Insurance, or a related field Required
Experience
- Minimum of 5 years of progressive experience in the life and annuity industry, with significant experience with risk-based quality assurance Required
Base Salary Range :$79,500- $115,000
For over 175 years, Penn Mutual has empowered individuals, families and businesses on the journey to achieve their financial goals. Through our partnership with Financial Professionals across the U.S., we help instill the confidence and reliability that comes from a stronger financial future. Penn Mutual and its affiliates offer a comprehensive suite of competitive products and services to meet the unique needs of Financial Professionals and their clients, including life insurance, annuities, wealth management and institutional asset management. To learn more, including current financial strength ratings, visit www.pennmutual.com.
Penn Mutual is committed to Equal Employment Opportunity (EEO). We provide employment and advancement opportunities to all qualified applicants and associates, according to applicable laws. This is reflected in our practices for hiring, placement, promotion, transfer, demotion, layoff, termination, recruitment, compensation, selection or training, and all other terms and conditions of employment. All employment-related decisions and practices are free from unlawful discrimination. This includes: race, creed, color, national origin, ancestry, citizenship age, gender (including pregnancy), sexual orientation, gender identity or expression, domestic partnership or civil union status, marital status, genetic information, disability, religious observance or practice, liability, veteran status or any other classification protected under applicable law.
