Risk Product Development Assistant Director

Northwestern Mutual • Milwaukee, WI

6d • Hybrid

About The Position

About the Job: Partners with Product Development leadership in the development of strategic direction and management of a specific product line, including product strategy and business plans. In this role, you will lead programs that set direction, strategy, and goals related to Northwestern Mutual products; serve as technical expert regarding products; act as key resource leading projects that bring alive the value of the product; facilitate and promote new products, technologies, and tools for the use at the agency-level. Requires ability to network extensively with a variety of audiences including, corporate, agency-level, competitors, and outside business partners. Serves as key liaison between the product and the Sales Enablement Department, ensuring projects align with sales objectives, and that sales teams have an appropriate depth of understanding regarding products. What You’ll Do: For the life product line, assist in developing and executing product development strategies that leverage our fundamental company advantages, understand the markets in which the product line is most relevant, and ensure execution in coordination with a broad variety of departments across the company. Design competitive and financially sound products based on client and field insight, including new and innovative approaches. Provide representation and advocacy for life product in cross-departmental project teams focusing on compliance, supervision, regulatory issues, marketing and sales strategies, cross-selling and financial security planning. Assist in the development and execution of product line sales goals, communication strategies, and product promotion plans. Provide ongoing analysis of and planning for future trends, including occupational, demographic and economic, which may impact the financial results of the product line. Provide expert technical assistance/consultation to the field and home office regarding products, complex product analysis, competitive intelligence, sales illustrations and sales ideas. What You’ll Bring to the Role: Bachelor's degree or equivalent in business administration, actuarial science, finance, economics, marketing or related field. Actuary background required. Attainment of Fellow of the Society of Actuaries (FSA) designation. Minimum of eight years of experience in financial services; experience with NM products preferred. Demonstrated ability to lead large cross-departmental projects including the ability to manage project financials. Experience with flexible premium products preferred. Proven ability to anticipate future industry, economic, and client consequences and trends. Interest in innovative approaches to developing product solutions. Strong organizational and follow-through skills with ability to work within deadlines and prioritize work. Superior verbal and written communication skills. Strong understanding of and experience interacting with NM field. Series 6 required or successful completion within six months. Skills You Have: Cross Functional Partnering & Planning: Facilitates collaboration, communication, coordination, and planning with individuals and teams from different functions within the organization, and who have different areas of expertise, to achieve common goals. Customer, Market & Ecosystem Knowledge : Understanding of market or customer-specific product use-cases, ecosystem dependencies, and competitor offerings. Ability to conduct or interpret competitive analysis of features with key competitive products. Industry Knowledge : Demonstrates extensive knowledge of common practices, regulatory considerations, market trends and the competitive landscape within a particular industry / sector to better understand and address unique client requirements, challenges, and context. Insurance Products: Leverages knowledge of the general components, characteristics, principles, philosophy, and advantages of specific Northwestern Mutual insurance products to inform approach to situations such as innovation, development, and improvement. Product Development: Leads the planning, forecasting, and production of a product/s to the production readiness stage; manages the process, strategy, and resources of new product development. Product Management: Demonstrates ability to create and manage a product roadmap, involving ideating, planning, forecasting, marketing and management of a product or a suite of products throughout stages of its lifecycle, from its conceptualization to market entrance and eventual phasing-out. Product Positioning: Communicates the unique value of Northwestern Mutual products to target audience to make the product stand out and become the preferred choice for the target market.

Requirements

• Bachelor's degree or equivalent in business administration, actuarial science, finance, economics, marketing or related field.
• Actuary background required.
• Attainment of Fellow of the Society of Actuaries (FSA) designation.
• Minimum of eight years of experience in financial services; experience with NM products preferred.
• Demonstrated ability to lead large cross-departmental projects including the ability to manage project financials.
• Proven ability to anticipate future industry, economic, and client consequences and trends.
• Strong organizational and follow-through skills with ability to work within deadlines and prioritize work.
• Superior verbal and written communication skills.
• Strong understanding of and experience interacting with NM field.
• Series 6 required or successful completion within six months.

Nice To Haves

• Experience with flexible premium products preferred.
• Interest in innovative approaches to developing product solutions.

Responsibilities

• For the life product line, assist in developing and executing product development strategies that leverage our fundamental company advantages, understand the markets in which the product line is most relevant, and ensure execution in coordination with a broad variety of departments across the company.
• Design competitive and financially sound products based on client and field insight, including new and innovative approaches.
• Provide representation and advocacy for life product in cross-departmental project teams focusing on compliance, supervision, regulatory issues, marketing and sales strategies, cross-selling and financial security planning.
• Assist in the development and execution of product line sales goals, communication strategies, and product promotion plans.
• Provide ongoing analysis of and planning for future trends, including occupational, demographic and economic, which may impact the financial results of the product line.
• Provide expert technical assistance/consultation to the field and home office regarding products, complex product analysis, competitive intelligence, sales illustrations and sales ideas.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level