OverviewThe VP, Digital Distribution & Strategy is responsible for setting the strategic direction and driving growth across all Digital Distribution channels including Partnerships, Direct Marketers, Network IMO, and Direct-to-Consumer distribution, while landing new distribution deals with new, alternative distribution sources. Working in close collaboration with SVP, Distribution, Marketing & Strategic Growth, create a strategic plan and long-term vision founded in growth and profitability for this growing segment of distribution.
Work with the Digital Distribution channel leaders to Identify and develop distribution opportunities to create expanded market presence and future growth, as well as, diversification. Leverage Banner Life's digital capabilities to win new deals and expand current distribution.
Responsibilities- Own the development, leadership and execution of the Digital Distribution strategic plan inclusive of sales and forecasting. Provide key input for product development, pricing and underwriting strategies to be implemented in Banner Life's digital platforms to drive sales growth
- Own the overall P&L for the distribution segment. Determine annual sales plan and gross profit targets across all Digital Distribution segments. Implement distribution strategies, analyze trends and measure results. Propose tactics to drive sales growth, increase profitability and drive VNB.
- Assist Digital Distribution channel leaders to identify and qualify growth opportunities to drive business development strategy and growth for target markets.
- Collaborates with Digital Distribution team to ensure business development plans are aligned with growth and profitability goals
- Works with cross-functional teams of partners and channel teams to ensure development and execution of distribution pipelines
- Collaborate with Marketing to develop a brand image for the organization and communicate that brand throughout the market to land new strategic distribution partnerships and expand current accounts.
- Identify alternative markets and distributions in which Banner Life currently has little-to-no presence. Opportunities to leverage digital capabilities include other insurance companies, P&C, financial institutions, on-line advisory services, and other affinity groups. Develop market study and business strategy for exploring these potential areas of new production.
- Analyze market trends and competitive landscape to understand and inform senior management of intelligence gathered impacting market share and competitiveness of Banner Life value proposition
- Collaborate and communicate with current markets and distributions currently for which Banner Life has product and digital capabilities which could create significant new sales potential.
- Define the requirements for each market opportunity with regard to products, marketing, new business processes, customer service, underwriting and support - including an assessment of costs and potential production.
- Work with company leadership to prioritize opportunities and schedule accordingly. Once identified, lead all efforts to contact, present, and close each opportunity.
- Lead the development and launch of each new market initiative; build plans to leverage each success through the relevant channel.
- Advise senior management, distribution and appropriate business areas on the sales potential of strategic accounts, support structures and other key initiatives. Act as primary contact between Banner Life and outside business partners.
- Establish and meet goals, both long and short-term, for each initiative to include consistent and timely communication of implementation progress.
- Other projects and assignments as determined by senior management.
QualificationsEducation Bachelor's degree - Sales, Marketing, Business Management or related field
Experience/Knowledge10 years industry experience, with at least 5 years in a team building and management role
In-depth knowledge of a broad range of protection products
Ability to create and analyze sales reports and results
Skills necessary to write sales material and interpret technical material
Experience creating and delivering presentations at an executive level
Ability to identify new market opportunities, develop business strategies, and establish and foster relationships with key decision makers.
Skills Well-developed organization skills and ability to successfully manage multiple issues and demands
Excellent interpersonal and business communications skills (poise, presence, and presentation)
Ability to work independently and collaboratively
Some travel required
Reports ToSVP, Distribution, Marketing & Strategic Growth
Direct Staff 1 FI Partnerships, VP
2 Digital Growth, VPs
1 National Accounts, VP
1 Strategic Partnerships, VP
1 Director, Direct-to-Consumer & Digital Platform Distribution Leader
1 Director, Digital Partnerships & Marketing
What's in it for you?The total compensation package for this position includes competitive base salary and includes other elements, such as a sign-on bonus, long term incentives, and annual bonuses. This role is eligible to participate in the Annual Incentive Bonus Plan. Bonuses are pro-rated based on start date. This role has 20 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.
We have a competitive compensation and benefits package focused on your overall wellbeing. Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff). We're big on professional development and we'll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!
