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Full-Time

Vice President

Pricing and Risk Management

Posted on 10/22/2024

Beam

Beam

201-500 employees

Platform for managing emergency financial aid

Government & Public Sector
Education

Compensation Overview

$182.8k - $292.4kAnnually

+ Performance-based bonuses + Incentives + Equity program

Senior, Expert

Columbus, OH, USA

Remote option available.

Category
Insurance
Finance & Banking
Requirements
  • Bachelor’s degree in Business, Finance, Insurance, or a related field; advanced degree (MBA or equivalent) preferred
  • 10+ years of experience in pricing, underwriting, or risk management within the insurance or employee benefits sector
  • Proven ability to develop and implement effective pricing strategies and risk management frameworks
  • Strong analytical and quantitative skills with expertise in insurance pricing models and risk assessment
  • Experience managing relationships with reinsurers and other strategic partners
  • Strong leadership and cross-functional collaboration skills with a track record of driving organizational success
  • Excellent communication and presentation skills, with the ability to influence stakeholders at all levels
Responsibilities
  • Develop and execute pricing strategies for Beam's entire product portfolio, ensuring competitive positioning and profitable growth
  • Define Beam's insurance risk tolerance and establish a comprehensive insurance risk management framework aligned with company objectives
  • Lead the pricing and underwriting processes for both new business and renewal policies, ensuring accuracy, competitiveness, and profitability
  • Manage key partnerships with reinsurers and other vendors, driving collaboration and ensuring strategic alignment
  • Oversee regulatory and statutory reporting, ensuring compliance and providing actionable insights for decision-making
  • Provide subject matter expertise to cross-functional teams including Technology, Sales Enablement, Operations, and Finance, supporting broader business and product initiatives
  • Continuously monitor industry trends, competitive intelligence, and regulatory changes to adapt pricing and risk strategies accordingly

Beam provides a platform that helps educational institutions manage emergency aid programs for students facing financial difficulties. The platform simplifies the process of distributing emergency funds by handling application intake, assessing student needs, and ensuring quick disbursement of funds, often within 48 hours. This system is designed to comply with federal regulations, making it easier for schools to support their students effectively. Beam differentiates itself from competitors by focusing specifically on the needs of community colleges and universities, offering detailed reporting features that help institutions maintain compliance with Department of Education requirements. The goal of Beam is to ensure that students in need receive timely financial assistance, thereby improving student retention and success in their educational journeys.

Company Stage

N/A

Total Funding

$238.7M

Headquarters

null, New York

Founded

2012

Growth & Insights
Headcount

6 month growth

5%

1 year growth

5%

2 year growth

2%
Simplify Jobs

Simplify's Take

What believers are saying

  • Beam Benefits' recent $40 million funding round and increased valuation indicate strong financial health and growth potential.
  • The launch of six new benefits products in the past 18 months demonstrates Beam's commitment to innovation and market responsiveness.
  • High user satisfaction, as evidenced by a 4.7/5 rating on the Apple App Store, reflects a positive user experience and strong customer loyalty.

What critics are saying

  • Recent workforce reductions, despite significant funding, may indicate underlying financial or operational challenges.
  • The competitive landscape of the employee benefits market requires continuous innovation to maintain differentiation and market share.

What makes Beam unique

  • Beam Benefits' digital-first approach simplifies the employee benefits process, offering instant quoting and 24/7 online access, which sets it apart from traditional benefits providers.
  • The integration of wellness rewards through the smart Beam Brush adds a unique engagement layer that competitors lack.
  • Their strategic partnerships, such as with The Hartford, enhance their product offerings and market reach.

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Benefits

Medical, dental, vision, disability, & life insurance

401k options

Unlimited PTO

Remote work

Flexible hours

Parental leave

Desk stipend

Continuous learning stipend

Company social events