VP, Annuity Product Design

Global Atlantic Financial Group • Des Moines, IA

20d • $150,000 - $190,000

About The Position

The Vice President, Annuity Product Development (Retail) will be key part of Individual Market Team, engaging in product development and innovation, helping to fuel next leg of sales growth. This position is for a leadership position on the Annuity Product Development team, responsible for developing and pricing new annuity products with the objective of achieving sustainable competitive advantage with an industry leading product portfolio. This individual will engage with key internal and external stakeholders across multiple functions to proactively find creative solutions to the opportunities and challenges faced in today’s retirement market across multiple distribution channels. The successful candidate will report to the Director, Individual Markets and can be located in either out Hartford, CT, Des Moines, IA, or New York, NY offices.  An important component of the role will be effective collaboration and communication across Individual Markets as well as investments, risk, hedging, and finance areas to manage new business and in force profitability, product competitiveness and sales growth. The successful candidate will also collaborate with KKR to enhance our combined capabilities to design and launch new solutions to the marketplace.  Knowledge of insurance, investments, finance, actuarial and hedging is critical for success. This role will have responsibility for contributing to product strategy to profitability grow sales and manage in force profitability and will be accountable for communication across business areas and the overall execution of products within our retail franchise.  The successful candidate needs a demonstrated ability to think both creatively and strategically.

Requirements

• Bachelor’s Degree in Actuarial Science, Math, Statistics, Computer Science, Physics or Engineering required
• Five plus years of experience in the annuity/life insurance industry is preferred, product development experience preferred
• Five plus years’ experience in programming financial models in any actuarial modelling software (R3S, Prophet, Axis or MG Alfa), or other programming language such as Python, C/C++ or Java
• Fellow of the Society of Actuaries
• Demonstrated ability to think creatively, strategically and champion product throughout Global Atlantic and our distribution partners taking into account company profitability and consumer value.
• Demonstrated ability to lead projects and seamlessly navigate matrixed organizations.
• Experience leading Product strategy development, financial analysis, and product innovation.
• Leadership experience and knowledge of insurance, capital markets and risk.
• Track record of product innovation and raising liabilities at attractive funding costs.
• Detailed understanding of product vehicles, legal and other regulatory, structures, and unique investment requirements of retail products (registered and unregistered).
• Good communication skills and ability to influence senior levels of the organization.
• Demonstrated ability to align internal and external resources to partner for successful outcomes.
• The ability to coach, mentor and share knowledge with others in the organization.
• Must be able to travel occasionally to other offices (i.e. Des Moines, Hartford, New York, Wayne (PA))
• Experience designing business cases and successful implementation strategy.

Responsibilities

• Lead timely research, development, and robust product pricing of new solutions.
• Use MG-ALFA or other modeling actuarial projection software to develop disciplined, robust pricing models and risks analysis for new product design ideas and modifications to current products.
• Effectively balance competitive and pricing objectives to achieve overall company objectives.
• Implement best practices in pricing methods, automation, organization, and documentation to improve overall efficiency and quality of product development efforts.
• Ensure product designs fit the desired risk/profitability profile and policy forms provide sufficient levers to effectively manage product profitability post-issue.
• Collaborate with the Annuity Product Implementation team during the implementation of new products, responsibilities include supporting state & prospectus filing, marketing, and sales illustration.
• Collaborate with the Inforce Pricing team to set rates on new products and effectively incorporate new products into the product management processes.
• Communicate with peers in product, risk management, investments, marketing, legal & operations.
• Develop and maintain industry knowledge including economic, regulatory, and competitive environments to support development of new products.

What This Job Offers

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