Product Development Manager

Westfield•Westfield Center, OH

8h•Hybrid

About The Position

The Product Development Manager is responsible for the ongoing maintenance, development, and delivery of Insurance product offerings. The role oversees and is accountable for the product lifecycle including developing and implementing new products and maintaining the Product portfolio in a complex regulatory environment. The role implements and manages highly efficient processes, best practices, and leading tools to ensure accuracy, timeliness, and oversight for rate, rule, and form projects. The role is responsible for coordination of optimized product related business processes and third-party product partnerships.

Requirements

7+ years of experience in Product Development, Insurance industry or a related field.
Bachelor's degree in Business or a related field and/or commensurate work experience.

Nice To Haves

Certified Insurance Counselor (CIC)

Responsibilities

Leads all aspects of planning, prioritizing, and executing the implementation of changes to the insurance product portfolio in a complex regulatory environment.
Works in partnership with Product Managers to determine strategies for new product launches, existing product modifications, and suspensions or withdrawals of product offerings based on performance and market conditions.
Provides oversight for product deployment including planning and collaborating with Actuarial, IT, and Underwriting stakeholders to manage the rate and product delivery schedule with consideration to the optimal use of resources and impact to agents and customers.
Manages the quality, cost, and timeliness of the implementation and maintenance of all products in the product portfolio, including product rates, rules, and coverage changes.
Leads vendor management functions for vendor product integration, continuous improvement, and product and underwriting data acquisition.
Serves as the central point of contact for select vendors and vendor programs.
Develops project risk mitigation strategies and communicates those strategies with key stakeholders.
Provides oversight to ensure compliance with all legislative and regulatory mandates, rate filings, and corporate/ departmental policies, and ensures automated systems are compliant with filed rules and guidelines and that continuous monitoring is in place.
Leads process optimization and measurable continuous improvement of the product development lifecycle framework to ensure achievement of target business outcomes.
Leads efforts to design, develop, implement, and continuously improve product development processes and solutions to drive measurable advances in speed, efficiency, consistency and quality for activities in the product development lifecycle.
Ensures effective communication and training plans are in place for agents, underwriters, and service teams for product related changes and implementations.
Ensures the continued creation and maintenance of new data management tools.
Evaluates external data management sources and tools to assist business partners in risk selection/evaluation, improved segmentation, premium development, process efficiency and cost containment.
Develops and is accountable for annual budgets including third-party expenses.
Leads process to identify and evaluate opportunities for strategic alliances that enable growth of the product portfolio while minimizing risk and investment expense.
Consults with Westfield leaders and employees about product-related needs, questions, and suggestions; directs information or work to the appropriate individual within the unit when appropriate.
Accountable for talent management and navigation of employee related issues that impact morale and work environment to ensure a high performing team.
Responsibilities may include hiring and selection, succession planning, performance and compensation management, and employee development and career coaching.
Manages priorities and workload distribution and removes barriers that impede progress.