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Regional Product Line Leader Executive
USAA
San Antonio, TX, United States
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Purpose of Job
The Regional Product Line Leader is accountable for revenue and profit (P&L) results for a region of approximately $2 to $5 billion dollars in revenue. This individual will ensure that their team of State Directors develops a detailed knowledge about the business performance in the assigned State along different performance dimensions, including production results and trends, pricing performance, trends, and competitiveness, book mix components, underwriting results and trends, distribution dynamics, claims trends and results, etc. S/he will work with their team of State Directors to develop the annual operating plan objectives (top and bottom line) and long-term strategic plan in the assigned states which are based on the knowledge gained about the territory, our market position, and competitive situation. This role will work in close partnership with Experience Officer and Product development to ensure current and future requirements are met. The successful leader will collaborate across P&C and Enterprise functions and product lines and be a thought leader for working with agile methods to sustain profitability and growth for the respective product line. S/he is accountable for driving business results across USAA’s matrixed organization, partnering with cross-functional peers, and coordinating action plans.
Job Requirements
• Accountable for the regional P&L and operational objectives against the one year and three-year plan as it rolls up to the countrywide plan.
• Defines underwriting guidelines, pricing strategies, and claims strategies for the region.
• Makes final decisions for the region in regards to pricing, underwriting, etc. to optimize the product line while ensuring it meets countrywide goals.
• Collaborates with regional peers and works with key P&C and Enterprise partners to make tradeoff decisions with the membership in mind.
• Responsible for development of annual operating plan objectives across assigned territories.
• Accountable for working closely with peer regional executives to create long-term future vision that aligns with segment objectives, and develop plans that will enable achievement of these objectives while optimizing member experience.
• Responsible for leading team that makes decisions on key components (rates, pricing, product, underwriting, etc.) and influences decisions on components outside direct control (marketing, service, technology, claims, etc.).
• Responsible for maintaining thorough level of knowledge of business performance across broad geographic territory.
• Manages team that performs detailed financial analysis of business at territory level, and distills into broader view.
• Leads regular business reviews, with key core function partners (e.g., distribution, experience, claims, and underwriting) and enterprise partners (e.g., marketing, human resources, legal, etc.) to align knowledge of organization around business performance and member experience.
• Manages team of cross functional experts working in agile methods to ensure objectives are met.
• Collaborates with Product line peers to ensure P&C and USAA strategy is optimized.
• Inspires a high performance team to achieve exceptional results while building future capability and developing next generation leaders.
• Uses quantitative information and financial analysis to evaluate business options, monitor business performance, and manage expenses
• Sets clear objectives and expectations, monitors and documents performance, provides helpful feedback, and takes appropriate corrective action when necessary.
Minimum Experience:
• 10+ years of increasing responsibility leading insurance product teams, underwriting, insurance brokerage, actuarial, personal lines core functions, reinsurance, or other related lines of insurance or business experience.
• 6 or more years of people leadership experience in building, managing and/or developing high-performing teams required.
• 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
• Uses quantitative information and financial analysis to evaluate business options, monitor business performance, and manage expenses.
• Proven leadership and a passion for developing talent.
• Sets clear objectives and expectations, monitors and documents performance, provides helpful feedback, and takes appropriate corrective action when necessary.
• Willingness to put the team and the mission first, before self.
• Demonstrated understanding of customer experience management as a business philosophy.
Preferred Experience:
• MBA and/or CPCU preferred
• Direct experience managing a P&L for insurance product lines or direct experience in personal lines functions of at least $100 million in revenue.
• Prior experience building a state management function or similar experience.
• Prior experience in actively participating in the evolution of adapting technology systems to future requirements.
In addition to the requirements mentioned above, candidates are also evaluated against job related competencies that are aligned with performance expectations for this role. These competencies are referred to as The USAA Standard and are contained in the attached addendum.