Senior Director - Annuity Product Development

Northwestern Mutual • Milwaukee, WI

9d

About The Position

Develop and execute product development strategies for one or more risk product lines (life, annuities, disability income and long-term care). This involves leveraging company advantages, understanding relevant markets, and coordinating with various departments. The role may also assist in developing product line strategies to maximize sales growth and achieve financial results. Continuous evaluation and refinement of risk products, including new product development and enhancements, are key to remaining competitive and increasing market share. This includes both evolutionary and innovative approaches. Additionally, 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, using this insight along with client insight to design and develop new offerings. Maintain co-creation with the field throughout the product development process. Represent and advocate for risk product lines in cross-departmental project teams focusing on compliance, supervision, regulatory issues, servicing, marketing and sales strategies, cross-selling, and financial security planning, coordinating efforts as necessary. Analyze competitors' products, features, and benefits to inform competitive strategies and make recommendations for NM. Ensure projects are completed on schedule, within scope, and on budget. Provide support to the field and other home office staff on product-related questions.

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 at Northwestern Mutual, or relevant external experience, with a keen 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 well as 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).
• Leverage fundamental company advantages and understand relevant markets.
• Ensure execution in coordination with a broad variety of departments across the company.
• Assist the product line leader in the development of product line strategies to maximize sales growth and ensure achievement of healthy product line financial results.
• Continually evaluate and refine the Company's risk products, including developing new products and adding product enhancements and features 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.
• Liaise with all levels of the field to proactively seek input on desirable products, features, and benefits.
• Use field insight, as well as client insight, to design and develop new products and features.
• Maintain co-creation with the field throughout the product development process.
• Provide representation and advocacy for risk product lines in cross-departmental project teams focusing on compliance, supervision, regulatory issues, servicing, marketing and sales strategies, cross-selling and financial security planning.
• Coordinate efforts where necessary.
• Analyze competitors' products, features, and benefits to determine how NM can best compete.
• Make recommendations that NM offer such types of products, features, and benefits when warranted.
• Ensure that projects are completed to meet schedule, scope, and budget.
• Assist the field and other home office staff on product questions.

Benefits

• Fairness and transparency in sharing salary ranges.
• Geographic specific pay structures may be applicable.
• Best-in-class company culture focused on client interests.
• Equal opportunity employer committed to creating and maintaining an environment where employees can contribute creative ideas, seek challenges, assume leadership, and focus on meeting and exceeding business and personal objectives.

What This Job Offers

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