Asset & Wealth Management, Head of Annuity Sales, Vice President - Albany

• Asset & Wealth Management, Head of Annuity Sales, Vice President - Albany
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Albany, New York, United States

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Opportunity Overview

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CORPORATE TITLE

Vice President

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OFFICE LOCATION(S)

Albany

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JOB FUNCTION

Sales Support

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DIVISION

Asset & Wealth Management

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SALARY RANGE

USD 80,000 - 185,000

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ABOUT THIS JOB

Goldman Sachs Ayco’s Insurance Group is seeking a dynamic leader with demonstrated success navigating a continuously evolving environment, driving employee engagement by fostering team culture and collaboration, and managing a team of insurance experts who promote client-centric annuity solutions to address clients’ financial planning requirements.

In this role, you will collaborate with senior leaders across various areas of the firm including product, agency, technology, compliance, marketing and legal. You will be responsible for executing short- and long-term business strategies to drive growth by delivering competitive insurance solutions, recognizing annuity opportunities, solving complex issues, and expanding business relationships both internally and externally.

Working alongside Human Capital Management on recruitment, performance assessments, and training initiatives is integral. Additionally, coaching and enhancing the expertise of insurance professionals are vital components of this role, alongside financial management tasks like budgeting and reporting.

Join us in shaping impactful insurance solutions and driving client success within a collaborative and dynamic environment.

IMPACT AND RESPONSIBILITIES

Our Impact

Wealth Management

Across Wealth Management, Goldman Sachs helps empower clients and customers around the world to reach their financial goals. Our advisor-led wealth management businesses provide financial planning, investment management, banking, and comprehensive advice to a wide range of clients, including ultra-high net worth and high net worth individuals, as well as family offices, foundations and endowments, and corporations and their employees. Our consumer business provides digital solutions for customers to better spend, borrow, invest, and save. Across Wealth Management, our growth is driven by a relentless focus on our people, our clients and customers, and leading-edge technology, data, and design.

Goldman Sachs Ayco partners with Fortune 1000 companies to design and implement tailored financial planning programs for their workforce-leveraging the 50-year heritage of Ayco and the comprehensive resources of Goldman Sachs to meet the evolving needs of their employees. Ayco believes companies best serve their stakeholders and the greater economy when their employees' financial lives are clear, understood and in their control. Ayco advisors and technical subject matter experts help clients achieve their personal financial goals through education and guided implementation across seven key financial disciplines, including insurance planning.

The Wealth Strategies (WSG) Goldman Sachs Ayco’s Wealth Strategies group provides risk management solutions in support of advisors and clients across all segments of Goldman’s Wealth Management business. Our planning focused practice currently has 56 team members operating in 7 wealth management offices across the county.

Principal Responsibilities

• Maximize opportunities for your team to increase sales of annuity products by developing strong partnerships with Financial Advisors and clients.
• Partner with internal departments to leverage product sales and generate new business opportunities.
• Develop and execute a strategic business plan to increase sales growth to meet financial goals.
• Cultivate relationships with insurance providers to enable product comparisons, alternate solutions, and funding scenarios, and identify cross-selling opportunities.
• Grow and manage a consistent and continuous new business pipeline through educating advisors and clients on products and processes.
• Gather and utilize market intelligence to drive sales by identifying trends and implementing corrective action where necessary.
• Maintain a thorough working knowledge of GS and our providers’ products, strategies, systems, processes, and technologies.
• Ensure team members adhere to compliance and regulatory standards for life and annuity products.
• Monitor and improve team performance through quantitative and qualitative measures, collaboration, mentorship and coaching.

WHERE YOU WILL MAKE AN IMPACT

Our U.S. Wealth Management business includes the following locations in the United States: Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, New York, Miami (Florida and Latin America coverage), Philadelphia, San Francisco, Seattle, Washington, D.C., and West Palm Beach. This position is for our Cohoes, New York office and will require up to 20% travel.

SKILLS & EXPERIENCE WE’RE LOOKING FOR

Basic Qualifications

Bachelor’s degree (BA/BS) from four-year college or university; and a minimum of fifteen (15) years of related experience in financial services industry with a minimum of 6 years of direct experience in life insurance and annuity sales, wholesaling, or distribution

Advanced degree preferred (e.g. JD, MBA, PhD)

Series 6 or 7, 63 or 66 as well as active Life, Accident & Health insurance license required. 24 and 26 not mandatory, but nice to have

Collaborator and self-starter with the ability to work independently and prioritize work in a fast-paced sales environment

Experience in managing a sales team in the financial services industry with exceptional leadership and coaching skills fostering a team-first, inclusive approach in a collaborative environment

Strategic understanding of life insurance products, particularly annuities with a strong understanding of investment concepts and practices used in the securities industry

Ability to drive growth and increase presence and market share for assigned segments

Understanding compliance and regulatory standards for life and annuity products is preferred

Ability to identify market trends, lead changes, and foster innovation

Adept at using data to drive decisions and meet performance targets

Proven history of growing production and managing successful partnerships with leading carriers and vendors

Excellent verbal and written communications skills

Salary Range

The expected base salary for this Albany, New York, United States-based position is $80000-$250000. In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end.

Benefits

Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here.

We Offer Best-In-Class Benefits

Healthcare & Medical Insurance

We offer a wide range of health and welfare programs that vary depending on office location. These generally include medical, dental, short-term disability, long-term disability, life, accidental death, labor accident and business travel accident insurance.

Holiday & Vacation Policies

We offer competitive vacation policies based on employee level and office location. We promote time off from work to recharge by providing generous vacation entitlements and a minimum of three weeks expected vacation usage each year.

Financial Wellness & Retirement

We assist employees in saving and planning for retirement, offer financial support for higher education, and provide a number of benefits to help employees prepare for the unexpected. We offer live financial education and content on a variety of topics to address the spectrum of employees’ priorities.

Health Services

We offer a medical advocacy service for employees and family members facing critical health situations, and counseling and referral services through the Employee Assistance Program (EAP). We provide Global Medical, Security and Travel Assistance and a Workplace Ergonomics Program. We also offer state-of-the-art on-site health centers in certain offices.

Fitness

To encourage employees to live a healthy and active lifestyle, some of our offices feature on-site fitness centers. For eligible employees we typically reimburse fees paid for a fitness club membership or activity (up to a pre-approved amount).

Child Care & Family Care

We offer on-site child care centers that provide full-time and emergency back-up care, as well as mother and baby rooms and homework rooms. In every office, we provide advice and counseling services, expectant parent resources and transitional programs for parents returning from parental leave. Adoption, surrogacy, egg donation and egg retrieval stipends are also available.

Benefits at Goldman Sachs

Read more about the full suite of class-leading benefits our firm has to offer.

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