Director - Process Management - Prudential - Newark

Job description

The Director, Process Management/Third Party Administration (TPA), is responsible for delivering and meeting the service needs of customers of Prudential’s Private Placement and Group Conversion Products. The administration of these policies is sourced to Third Party Administrators. The Private Placement Products are sold to high net worth individuals and have very unique and complex servicing requirements. The Group Conversion Product fulfills contractual obligations of our Group Insurance organization to provide optional individual whole life insurance in the event the customer terminates their employment with our Group client. The position is accountable for overseeing the delivery of service and the overall performance of the two TPA’s that administer these policies.

Major Responsibilities:
Responsible for providing leadership and oversight of the performance of the TPA’s, including successful management of critical key performance indicators (KPI’s), TPA compliance with contractual terms, and managing the contractual Change Control Processes

Partners with TPA to set priorities to achieve business objectives and to ensure deliverables are in alignment with contractual obligations
Defines, develops and monitors implementation plans and controls to meet service level metrics
Acts as Business Owner for all Prudential and legal/compliance required activities at the TPA relating to Privacy, Information Security, Records Management, Business Continuation as well as state required training and attestations
Responsible for managing and escalating emerging issues to ensure contractual agreements are met within the specified timeframe
Partners with cross-business functional leaders, both internal and external to Service Delivery, to ensure all work related to the administration of the policies is appropriately managed
Ensures the proper handling of all Private Placement Variable Universal Life Insurance financial transactions and hedge fund activity
Provides management with monthly reporting results, identifying areas of strength and/or opportunity

Desired Skills and Experience
College education in related area and/or 10+ years of progressive leadership experience in an operations environment
Demonstrated ability to develop solutions in a complex, rapidly changing service-related operations environment
Strong problem solving and strategic thinking skills, including solid analytical capabilities
Established ability to effectively communicate with all levels within the organization, with fully developed collaboration and influencing skills
Solid project manager; self starter and results oriented
Vendor management experience highly preferred
Previous Life Insurance knowledge and experiences, preferred

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