| WHO IS TIAA-CREF? Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) is a leading provider of retirement planning for people in the academic, research, medical and cultural fields. Our mission is to serve those who dedicate themselves to the benefit and enlightenment of others, by helping to plan the financial future of those who advance the greater good. VP, Business Unit CFO-1685915 DescriptionThe TIAA-CREF is a Fortune 100 financial services company that is the market-leading retirement system for individuals who work in the academic, research, medical and cultural fields. The organization is the category leader with over 3.4 million active and retired employees of more than 15,000 institutions. The organization has major operations in Charlotte, North Carolina and Denver, Colorado, as well as some 65 local offices nationwide. TIAA-CREF has approximately 7,000 employees, and is headquartered in New York City.
TIAA-CREF's retirement plans provide participating institutions and individuals with a range of options to help meet their retirement plan administration and savings goals as well as income and wealth protection needs. They include variable annuities, mutual funds, tax-deferred and after-tax annuities, IRAs and brokerage accounts. The firm provides quality investment management with two-thirds of the company's mutual funds and annuity accounts exceeding their Morningstar median over the past three and five years.
Area Description
Finance:
In support of Client Services, includes Institutional Clients Services, Participant Services, Wealth Management, Institutional Development and Sales. Consists of roughly 95% of all client facing areas of the firms, representing a $300 million budget and 2500 employees.
The VP will be responsible for leading a team of finance professionals in providing comprehensive financial strategies, advice and expertise; financial management support, including strategic and tactical business decision support; and translating data into actionable financial information in order to drive improved performance. Serve as a key financial business partner and area CFO providing guidance and analysis related to all business segments' operations including revenue and cost analysis, financial leadership intelligence and support, reporting, and modeling. Works in close partnership with the senior management of all business and support areas.
Specific Responsibilities for this position include:
- Manages and directs the objectives, priorities and performance of staff.
- Oversee all enterprise wide and business segment financial planning processes including budgeting and headcount/resource planning, analysis, multi-year planning, short and long range forecasting, financial narratives, balance sheet analysis, financial presentation packages and communication of risks/opportunities.
- Collaborate on business segment reviews with business CFOs and other business leaders.
- Work with senior management to develop presentations for the TIAA Board of Directors and external and internal constituents
- Manage and develop finance staff and champion talent development across the BFA organization to build technical and leadership capabilities.
- Provide planning and forecasting based on key economic, statistical, and financial information.
- Support the development of production/profitability goals to ensure consistency with the financial plan.
- Prepare meaningful financial reports which enable LOBs to measure performance relative to goals and prior year.
- Present and clearly articulate the financial results of the LOBs as well as the various initiatives and strategies to management and Executive Management.
- Analyze and interpret financial results and LOB project allocations
- Develop and evaluate key cost reduction and performance enhancement initiatives/strategies and metrics; partnering with line of business to implement. Manage and/or participate in various corporate and line of business initiatives and projects of varying degrees of complexity.
Qualifications General Experience
- 10+ years of finance experience in progressively larger roles, including broad management roles.
- Minimum of 5 years experience in broad business management role within the financial services or insurance industries
- BS/BA degree in Accounting or Finance, MBA preferred
- Broad understanding of reporting for insurance companies
- Ability to manage and develop a large matrix organization working closely with other senior management to build an effective and efficient financial planning organization
Competencies
Strategic Orientation - Setting the Direction:
Candidate must possess a strategic orientation which will be evidenced through an articulation of a compelling and inspired vision and a sense of purpose based on our values and to better serve our clients. Her/His strategic agility will be represented by a proven record of creating competitive strategies, specific plans, and establishing intelligent risk levels for achieving the organizational vision, mission and goals. Further, candidates will be able to nimbly identify and prioritizes critical business issues and align the organization accordingly
Results Orientation - Executing Excellence
Individual will be deeply knowledgeable of industry standards and how TIAA-CREF can better compete in the marketplace in a manner that best serves our clients. The candidate will have demonstrable history of effective decision making and be able to make risk-based business decisions that create value. Will show they make timely, sound decisions based upon a mixture of analysis, acumen, experience and judgment. Further, that he/she can make rational decisions with potentially incomplete data and conflicting views amidst tight deadlines. Ability to meet organizational objectives and business area goals will be evidenced by prior accomplishments. Can communicate ways he/she has effectively utilized metrics to optimize and improve business processes to drive key business outcomes. Consistently pushes self and others for results
Collaboration and Influencing - Doing it the Right Way
The candidate must be a catalyst for change with an ability to effectively influence senior management, business unit managers, and functional leaders (e.g., Technology & Operations, Marketing, Product, Compliance). This requires achieving credibility and respect in the institution, not only based upon knowledge and experience, but also based on values. The candidate will be able to foster an environment of transparency and trust by providing current, direct, complete and "actionable" feedback to others. He/she will speak, and encourages others to speak, candidly and with respect. Individual must value and manage employee diversity and cross-functional collaboration to achieve results. In addition, he/she will communicate the importance of values and translate them for employees into understandable norms of behavior. The person must be a good listener with strong interpersonal skills, executive level gravitas and consultative style.
Team Leadership and Development - Bring Others With You
Candidate will express a commitment to employee development and career growth. Her/His support of individual development will have gone beyond just direct reports. He/she will have set a personal example by developing him/herself and sharing key learnings. Candidate will foster a work environment where people feel energized and empowered. Publicly recognizes and celebrates the successes of teams and individuals. Aspirant will have equipped staff with all of the necessary tools, skills, information and authority to be successful in their roles. He/She will champion change through the relentless pursuit of transformations that ensure the best for our organization and customers.
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