WoodmenLife*, one of the nation’s largest fraternal benefit societies, seeks independent director candidates to round out our National Board of Directors and help us lead the organization. We believe our business and industry will face new issues that are complex and challenging. We believe a board consisting of qualified independent and experienced directors to be an invaluable resource to aid us in providing the very best leadership for the organization. The following describes our organization and the roles and purpose we envision for our National Board of Directors.
WoodmenLife is a different kind of life insurance company: we are not-for-profit, and we exist to benefit our members through every stage of life. We are committed to family, community, and country. WoodmenLife offers life insurance, annuities, mutual funds, and 529 College Savings Plans.** As of December 31, 2019, WoodmenLife has approximately $11.1 billion in assets and has been awarded a rating of A+ (superior), the second highest ranking out of 15, for its financial strength and operating performance by A.M. Best, one of the nation’s leading independent rating agencies.
WoodmenLife embraces diversity and works hard to provide a quality, team-oriented work environment.
Founded in 1890 in Omaha, NE, WoodmenLife continues to build on its century-old tradition of enriching lives, strengthening communities and providing financial security for its members across the United States. Planning for tomorrow is the key to WoodmenLife’s success.
The Immediate Needs of the National Board of Directors
The organization’s strategy is focused on responsible growth. The changing needs of our members will require changes to our organization. WoodmenLife must invest in new ways of designing and servicing our products to meet the needs of our members while at the same time maintaining the culture and traditions that have made WoodmenLife so strong for over 130 years.
As a result, WoodmenLife’s National Board of Directors is seeking a qualified director who has a law degree and a current license to practice law in one or more states. As of the response deadline, the candidate should be a good standing benefit member of WoodmenLife. The ideal candidate should possess a minimum of fifteen years of legal experience, possess exceptional leadership and communication skills and be able to demonstrate a diverse professional background that will help support the National Board of Directors’ oversight of WoodmenLife’s strategy, risks and finances. Experience serving on other boards, experience dealing with regulatory agencies and possessing a high-profile reputation in the business community that can help appropriately influence the organization is preferred.
The Nature of the National Board of Directors
Our board is comprised of up to fourteen (14) members of which eight (8) members are required to be independent directors. Our board will formally meet three to four times per year. The meetings are located both in Omaha, NE and other locations, and the meeting can last two to three days each. Each independent director is eligible to serve on one or more of the following committees: audit, compensation, fraternal and governance. Committees meet an average of four times a year. Our board is also encouraged to participate in various fraternal activities throughout the nation to become fully engaged with our membership.
The Purpose of the National Board of Directors
The primary purpose of the board is to help management accomplish the organization’s strategic plan. The board will help management evaluate the key issues and decisions facing our business. The board will offer a forum to discuss important and strategic decisions, while bringing a fresh perspective that will encourage corporate management to consider additional alternatives in a confidential environment.
We believe an additional experienced independent director will assist management in achieving responsible growth for our organization.
Please respond with your interest no later than February 1, 2021.
Additional Information / Interested Candidates
Mr. Danny Rice, Chairman
1700 Farnam Street, 27th Floor
Omaha, NE 68102
*WoodmenLife is a registered service mark of Woodmen of the World Life Insurance Society, 1700 Farnam Street, Omaha, NE 68102, 877-664-3332
**Securities are offered through Woodmen Financial Services, Inc., 1700 Farnam Street, Omaha, NE 68102, 877-664-3332, member FINRA/SIPC, a wholly owned subsidiary of Woodmen of the World Life Insurance Society. Securities other than the Woodmen Variable Annuity are issued by companies that are not affiliated with Woodmen of the World Life Insurance Society. Not all products are available in all states.
WEB402 - 12/2/2020