POSITION OVERVIEW

This position is a key member of the Individual Markets 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. This position requires interaction with all areas of the company, including risk, product implementation, inforce pricing, legal, valuation, investment, operations, sales, marketing, accounting, as well as senior management.

• Perform timely research, consumer value analysis, development, and robust product pricing of new solutions.
• Use MG-ALFA actuarial projection software to develop disciplined, robust pricing models and risks analysis for new product design ideas and modifications to current products.
• Effectively balance maintaining a competitive product and hitting 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.
• Collaborate with the Product Implementation team during the implementation of new products.
• 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 Pricing team to set rates on new products and effectively incorporate new products into the product management processes.
• Support product development needs related to state & prospectus filing, admin system testing, operations, marketing, and sales illustrations.
• Communicate with peers in product, risk management, investments, marketing, legal & operations.
• Support product approval by ensuring product risks are mitigated and documented.
• Develop and maintain industry knowledge including economic, regulatory, and competitive environments to support development of new products.

QUALIFICATIONS

• Bachelor’s degree (or higher) in Actuarial Science and two years of experience in the annuity/life insurance industry is preferred, product development experience a plus
• Successfully completed 2 actuarial exams, Actuarial Mathematics exam(s) strongly preferred
• Prior experience with Excel &/or actuarial software considered a plus
• Prior annuity product development experience considered a plus
• Ownership - Takes personal accountability for the execution of their goals and objectives. Strong organization and delivery of results.
• Innovative - Able to participate in the generation of new and unique ideas. Forward thinking and tenacious. Flexible in navigating changing business environments.
• Analytical Skills - Possess strong analytical skills necessary to price products, ability to trouble-shoot and work to find solutions independently.
• Communication - Able to communicate effectively – verbal, written and listening.
• Teamwork - Has positive attitude necessary to be part of a strong performing team. Strong interpersonal skills for relationship building and engagement.

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