What are the responsibilities and job description for the Lead Product Systems Analyst position at Transamerica?
Job Family
IT - Business Analysis
About Us
At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.
Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment — one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.
Who We Are
We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.
Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.
We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.
What We Do
Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.
Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit
transamerica.com
.
Job Description Summary
The Lead Product Systems Analyst will research, analyze, code, and test to successfully implement products in support of Company goals. This individual will ensure coding and implementation of product files and calculations adheres to product design requirements and contract provisions. In addition they will provide support to other areas regarding product functionality and system capabilities.
Job Description
Responsibilities
- Analyze product design documents for highly complex products to determine product coding requirements. Review contract documents to ensure system coding supports contract provisions.
- Collaborate with actuarial groups to understand highly complex product design concepts. Research system documentation, manipulate product file coding, and run “what-if” analysis to gain an understanding of current system functionality.
- Collaborate with various technical staff members to develop creative and original solutions to support complex product designs and understand current system functionality. Ensure resulting changes to the system environment do not adversely impact existing production processing.
- Code product files in various systems to adhere to product design and contract provisions.
- Independently research, troubleshoot, and resolve various types of production problems on multiple systems.
- Understand and manipulate highly complex product and actuarial concepts and formulas. Create spreadsheets with comprehensive, advanced formulas to help validate actuarial and product related calculations on the various systems. Develop or assist in the development of new calculations as needed. Troubleshoot product and calculation errors.
- Perform and/or assist with complex testing activities, including the definition of advanced test scenarios for new product functionality or changes to existing products. Test and manipulate policies to satisfy required testing considerations by performing in-depth future dated processing and validation to ensure proper system processing. Calculate expected results and validate system results for accuracy. Analyze results, research discrepancies between actual output and expected results, and determine solutions to correct discrepancies.
- Compose or assist with the composition of highly complex business and systems requirements for coding, product, and calculation modifications. Interpret highly complex business requirements, technical designs, and test plans.
- Maintain and continually enhance product and systems/ technical knowledge in order to understand how changes and opportunities in new technology or product designs impact systems or processes within the environment.
- Serve as a subject matter expert regarding advanced and diverse product functionality across multiple systems.
- Provide broad administrative, technical, and product support to other areas regarding product functionality and system capabilities with little or no guidance. Serve as a liaison to other departments to assist with transfer of product and system knowledge.
- Ensure assigned projects and tasks remain on schedule to meet implementation dates. Communicate progress and assist in resolving issues/conflicts. Ensure that projects and tasks are completed in a timely manner and with high quality to achieve implementation goals. Follow escalation process as needed to help resolve issues.
- Lead highly complex and diverse projects, facilitate project meeting and brainstorming sessions, and coordinate team deliverables to ensure successful completion of projects.
- Serve as a key player in systems conversions and strategic initiatives. Analyze and gain understanding of product functionality and actuarial calculations on converted business. Create, maintain, and share product rules and calculations across system components and platforms. Balance data to ensure accurate data is converted into the system and validate product functionality and calculations.
- Work independently with substantial latitude in decision-making.
- Create and/or update procedures and process flows to accurately reflect product tasks and processes.
- Provide leadership and mentoring to lower level analysts in the areas of product development, product implementation, production support, and system capabilities. Transfer extensive knowledge to other analysts through cross-training.
- May direct daily activities of the team to ensure completion of projects and tasks.
- Maintain department standards regarding quality and support departmental goals.
- Maintain compliance with all standards, controls, policies and practices as an active participant in the Company’s Information Privacy and Security Program.
Qualifications
- Bachelor’s degree, preferably in IT or a business area discipline (i.e. accounting, investments, or marketing) or equivalent education/experience.
- Minimum of 8 or more years of experience in business systems analysis. 2-4 years of industry experience also preferred.
- Two years of experience managing technical projects in a complex environment.
Preferred Qualifications
- Basic knowledge of insurance company operations.
- Strong organizational and analytical skills with attention to detail.
- Excellent written, verbal and presentation skills.
- Working knowledge of systems methodology, project management, quality assurance and testing methodologies.
- Conceptual knowledge of graphical user interfaces, relational database management systems and data storage.
Working Conditions
- Remote or Hybrid working environment
The Salary for this position generally ranges between $97,000 - $129,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation in order to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.
What We Offer
For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.
Compensation Benefits
- Competitive Pay
- Bonus for Eligible Employees
Benefits Package
- Pension Plan
- 401k Match
- Employee Stock Purchase Plan
- Tuition Reimbursement
- Disability Insurance
- Medical Insurance
- Dental Insurance
- Vision Insurance
- Employee Discounts
- Career Training & Development Opportunities
Health and Work/Life Balance Benefits
- Paid Time Off starting at 160 hours annually for employees in their first year of service.
- Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
- Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
- Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
- Adoption Assistance
- Employee Assistance Program
- College Coach Program
- Back-Up Care Program
- PTO for Volunteer Hours
- Employee Matching Gifts Program
- Employee Resource Groups
- Inclusion and Diversity Programs
- Employee Recognition Program
- Referral Bonus Programs
Inclusion & Diversity
We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.
To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.
Giving Back
We believe our responsibilities extend beyond our corporate walls. That's why we created the
Aegon Transamerica Foundation
in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.Transamerica’s Parent Company
Aegon
- As of December 31, 2023
Salary : $97,000 - $129,000
