Voya 2013 Annual Report Download - page 6

Ready to Create Long-Term Value: 200 Basis Points of ROE Improvement
A central financial goal of the Voya Financial transformation story is to improve our Ongoing Business Adjusted
Operating Return on Equity (Adjusted ROE)2by 400 to 500 basis points, to 12% to 13% over the period between
2012 through 2016. In 2013, we improved our Adjusted ROE by 200 basis points to 10.3%, up from 8.3% in
2012.
While there were several notable items in 2013 that positively contributed to the ROE growth in excess of our
normalized run rate, our improvement was driven primarily by an 11% increase in Ongoing Business Adjusted
Operating Earnings Before Income Taxes; positive net flows in Retirement and Investment Management, which
boosted total assets under management and administration to a record $511 billion; and a significant shift toward
fee-based and less capital-intensive products.
Our ROE improvement program consists of more than 30 separate margin, growth, and capital initiatives. Each
initiative is tracked, monitored, and measured. Our ROE improvement reflects our commitment to the following
three core financial metrics, which anchor our financial discipline and drive our value creation:
• Risk-adjusted returns;
• Distributable earnings; and
• Sales at or above our targeted internal rates of return.
We are encouraged by the Adjusted ROE improvement we made in 2013 and our progress toward our objective
of 12% to 13% in 2016. We built our ROE improvement program to generate steady improvement and we remain
committed to that plan in 2014.
Ready to Make a Difference: Corporate Values and Corporate Responsibility
Our vision, mission, and strategy — everything we do as an enterprise — is built upon our five corporate values.
•We have customer passion.
•We do the right thing.
•We are the We.
•We have a winning spirit.
•We care.
Our corporate values permeate our culture, performance, brand, vision, strategy, and ultimately, our commitment
to corporate responsibility — and in particular — financial literacy for children. At Voya Financial, we believe
that the key to a successful financial future begins at the earliest age possible and that is the driving force behind
our passion for supporting financial literacy programs.
We partner with Girls, Inc. and Junior Achievement on two outstanding programs, which highlight our
commitment to educating young people about personal finance. Together with Girls Inc., we created the Voya-
Girls, Inc. Investment Challenge, which is our signature program designed to teach under-served high school
girls the key principles of saving and investing for the future. We also support Junior Achievement’s innovative
Finance Park initiative, which is an experiential financial literacy center where children learn about saving,
budgeting, household expenditures, investments, and life.
Our corporate values, code of conduct, governance guidelines, and commitment to the highest standards of
integrity were key factors in Voya Financial being named in 2014 as “one of the World’s Most Ethical
2Ongoing Business Adjusted Operating Return on Equity is a non-GAAP financial measure. For more information, and for a reconciliation
to GAAP return on equity, which is the most directly comparable measure calculated in accordance with GAAP, see “Non-GAAP
Measures”.
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