VP, Product Line Officer

Chubb•Chicago, IL

40d

About The Position

Chubb Benefits is seeking a VP, Product Line Officer to join their fast-paced, high energy, growing company. With over 100 years of success in the insurance industry, Chubb offers a dynamic environment for talented professionals. This role involves significant collaboration with business units to develop new products, amendments, coverages, rating plans, and programs, ensuring compliance with legal requirements and alignment with business goals. The position supports Chubb Benefits life and health distribution channels by managing product development needs, ensuring timely implementation of approved filings, and providing guidance. A key aspect of the role is ensuring products, systems, processes, and procedures meet statutory and regulatory requirements, including participation in compliance audits and quality testing. The VP, Product Line Officer will serve as the primary contact for statutory and regulatory issues, coordinating with various internal teams and external regulators. This role requires strong leadership and people management skills, including motivating teams, effective communication, conflict resolution, coaching, performance management, delegation, emotional intelligence, team building, decision-making, and adaptability.

Requirements

Bachelor degree or equivalent industry experience in product management and regulatory issues.
At least 10 years of experience in life and health insurance industry.
Strong knowledge of individual and group life and health insurance products, including the product development process, regulatory procedures and interactions, and the state approval processes.
Experience working in a product and rate filing and approval environment with explicit leadership/facilitation/coordination responsibilities and knowledge of the relationship to Underwriting, Sales, Actuarial, Legal and Compliance, IT, Marketing, Training and Claims.
Excellent communications skills; capable of interacting effectively with Regulators and key business stakeholders.
Demonstrated track record in effective project management, managing shifting priorities, and coordinating efforts across organizational lines.
Strong negotiation skills with ability to influence the priorities and actions of other people and departments.
Demonstrated adaptability and flexibility to adjust to changing business priorities.

Responsibilities

Collaborate with business units to develop new products, amendments, coverages, rating plans, and programs that comply with legal requirements and support business goals.
Support Chubb Benefits life and health distribution channels by ensuring timely implementation of approved form/rate filings and related initiatives.
Manage product development needs across various distribution channels, providing guidance and support as required.
Work closely with business units and support teams to ensure products, systems, processes, and procedures meet statutory and regulatory requirements; participate in compliance audits, assist with new policy form setup, and conduct quality testing.
Serve as the primary contact for statutory and regulatory issues, coordinating with team members, business units, Legal, Compliance, and Product Filings.
Communicate product changes and new development initiatives to management, escalate challenges, and help develop action and remediation plans.
Ensure the team meets established timelines for submitting filing packets to the Product Filings team for state regulator review.
Confirm product compliance with all state requirements and complete necessary checklists prior to rate and form submission.
Maintain form management and document control according to department procedures to track product filing history.
Research statutory and regulatory requirements in response to information requests related to life and health product compliance.
Conduct competitor product research and assist in developing new products, programs, and coverage endorsements.
Provide state-specific updates and filing status to internal business partners.
Strategize with Filings, Legal, and Compliance teams to identify regulatory changes, assess their impact, communicate to stakeholders, and ensure timely filings in accordance with state laws.
Coordinate objection responses for rate and form filing submissions with business units.
Motivate, inspire, and guide teams toward achieving goals.
Communicate clearly and concisely with team members and stakeholders.
Address and resolve interpersonal issues constructively.
Mentor, train, and develop employees for growth.
Set goals, provide feedback, and conduct performance reviews.
Assign tasks appropriately and empower team members.
Understand and manage one’s own and others’ emotions.
Foster collaboration, trust, and a positive team culture.
Make informed, timely decisions that consider team input.
Adjust management style to meet changing needs and diverse personalities.
Manage multiple priorities, schedules, and resources efficiently.