Actuary Director, Life Insurance Product Management

COUNTRY Financial • Bloomington, IL

1d • Hybrid

About The Position

The Director of Life Insurance Product Management is a strategic and operational leader responsible for end to end product lifecycle management across the company’s life and annuity portfolio. This role oversees product development, reinsurance strategy and execution, in force business management, and administration support functions to ensure competitive, financially sound, and operationally excellent offerings. The ideal candidate combines deep and diverse actuarial and product expertise with strong leadership and cross functional influence, driving innovation while maintaining disciplined risk and profitability management.

Requirements

• FSA preferred; ASA with significant experience will be considered.
• 10+ years of experience in life insurance or annuity product management, actuarial pricing, or related areas.
• Direct experience with product development, reinsurance, and in‑force management strongly preferred.
• Strong understanding of regulatory and actuarial frameworks (PBR, VM‑20/21/22, AG‑49, STAT, RBC).
• Demonstrated leadership experience with cross‑functional teams or direct reports.
• Excellent communication, strategic thinking, and decision‑making skills.

Responsibilities

• Responsible for oversight and development of staff, including supervisory activities (e.g. performance evaluations, goal setting) as well as professional (technical, skill) and personal development.
• Oversees a specific actuarial function within the life/health/annuity actuarial division - includes overseeing activities, planning and visioning of future activities, and communicating results/recommendations to division and company leadership.
• Ensures work is completed according to applicable regulation and actuarial standards of practice, including maintaining current SOA Continuing Professional Development requirements, as well as ensuring staff compliance.
• Manages the implementation and maintenance of disaster recovery plans and activities in assigned areas. Maintains current contact information for all employees in applicable areas and communicates with non-recovery employees during a disaster.
• Lead the development, enhancement, and launch of life and annuity products, ensuring alignment with corporate strategy, profitability targets, and market opportunity.
• Manage the current product suite and provide expertise and strategic oversight for legacy product lines.
• Partner with Marketing, Distribution, Finance, and Operations to bring products to market with actuarially sound pricing, compliant filings, and strong value propositions.
• Oversee all reinsurance relationships, negotiations, treaties, and treaty management.
• Evaluate and structure reinsurance placements to support capital efficiency, risk management, and product competitiveness.
• Collaborate with Finance and Risk departments to assess impacts of reinsurance on earnings, reserves, capital, and volatility.
• Own ongoing performance monitoring and profitability analysis.
• Lead initiatives to improve value of in‑force business, including repricing, reinsurance optimization, and product management actions.
• Ensure governance around assumptions, pricing updates, product corrections, and regulatory compliance (e.g., AG 49, PBR, VM requirements).
• Partner with Operations, IT, and Customer Service to ensure robust administrative capabilities, system readiness, and product integrity throughout the policy lifecycle.
• Lead resolution of product or system issues impacting administration or customer experience.
• Support modernization initiatives, system conversions, and operational process improvements.
• Lead, mentor, and develop a team of actuaries, analysts, and product specialists.
• Foster a culture of innovation, accountability, and cross‑functional partnership.
• Represent the product organization in executive discussions, strategic planning, and governance forums.
• Communicate complex actuarial concepts to non‑technical stakeholders with clarity and business focus.

Benefits

• insurance benefits (medical, dental, vision, disability, and life)
• 401(k) with company match
• Paid time off, parental leave, paid company holidays and paid time off to volunteer in your community
• Tuition assistance and industry education certificates and designations
• Employee resource groups to connect with your peers.

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees