Senior Director - Annuity Product Development
About The Position
This role is responsible for developing and executing product development strategies for risk product lines such as life, annuities, disability income, and long-term care. The position involves leveraging company advantages, understanding market relevance, and coordinating with various departments. The Senior Director will also assist in developing product line strategies to maximize sales growth and achieve financial targets. A key aspect of the role is to continually evaluate and refine existing risk products, introduce new ones, and add enhancements to maintain competitiveness and increase market share. This includes both evolutionary improvements and innovative approaches. The role also entails designing and developing solutions for adjacent markets and products, as well as disruptive approaches to the financial security market. A significant part of the job involves acting as a liaison to the field to gather input on desirable products, features, and benefits, and to co-create new products and features with field input. The Senior Director will represent and advocate for risk product lines in cross-departmental teams addressing compliance, regulatory issues, servicing, marketing, sales strategies, cross-selling, and financial security planning. Analyzing competitors' products and making recommendations for competitive offerings is also a core responsibility. Ensuring projects meet schedule, scope, and budget, and assisting the field and home office staff with product-related questions are also key duties.
Requirements
- Bachelor's degree in Business Administration, Actuarial Science, marketing or related field.
- Minimum of ten years of experience in insurance product development, competitive research, product compensation, or other areas of the risk product insurance industry.
- Actuary background required.
- Demonstrated ability to think and implement strategically.
- Proven ability to lead decision making process through idea sharing and consensus building.
- Demonstrated successful project leadership experience (Northwestern Mutual or external) with a focus on aligning project goals with Company strategy.
- Strong knowledge of risk products.
- High degree of personal initiative and self-motivation; ability to work on concurrent efforts, set priorities, and meet deadlines.
- Effective communication skills with the ability to build rapport and gain acceptance of people at all levels in the home office and field.
- Demonstrated ability to prepare and deliver clear and smooth presentations and convey information clearly and effectively in written format.
- Series 6 & 26 required or successful completion within six months.
Nice To Haves
- MBA degree, JD degree, FSA designation, CLU designation, CPA designation, or other relevant degree or professional designation.
- Fifteen years experience in life insurance product development, competitive research, product compensation, or other areas of the life insurance industry.
- Series 26 - FINRAFINRA
- Series 6 - FINRAFINRA
Responsibilities
- Develop and execute product development strategies for risk product lines (life, annuities, disability income, long-term care).
- Assist the product line leader in developing product line strategies to maximize sales growth and financial results.
- Evaluate and refine risk products, including developing new products and enhancements to remain competitive and increase sales and market share.
- Design and develop solutions for adjacent markets and products, as well as disruptive approaches to the financial security market.
- Act as a liaison to the field to gather input on desirable products, features, and benefits, and maintain co-creation throughout the product development process.
- Provide representation and advocacy for risk product lines in cross-departmental project teams.
- Analyze competitors' products, features, and benefits to determine competitive strategies.
- Ensure projects are completed to meet schedule, scope, and budget.
- Assist the field and other home office staff on product questions.
Benefits
- Geographic specific pay structures may be applicable.
- Best-in-class company culture focused on client interests.
- Equal opportunity employer committed to a diverse and inclusive environment.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
