VP / AVP – Head of Life Product Development

Summary

While professional experience and qualifications are key for this role, make sure to check you have the preferable soft skills before applying if required.

The VP / AVP of Life Product Development is a member of Life & Annuity Solutions and National Life Group Senior Leadership Team.

This role reports to Senior VP and Head of Life & Annuity Solutions. Specific areas of responsibility will depend on the experience and expertise of the candidate.

The primary responsibilities include all Life Insurance product design, development, and pricing. Additionally, as a member of the Pricing Council, S / he will provide input into In-force Management, Annuity Product pricing, product Implementation / filing and Illustrations.

The successful candidate will frequently lead discussions with National Life’s Executive Leadership, Distribution Leaders, Valuation Team, Finance, Marketing, Legal and Inforce Management.

Key Responsibilities Of VP / AVP- Head Of Life Product Development

• Develop innovative product features and designs in collaboration with distribution leaders and key Agencies.
• Work with Distribution Leadership and Head of L&A Solutions to develop National Life’s Life product strategy.
• Meet customer and market needs through innovative designs and features while meeting target profitability.
• Work closely with In-force management, Underwriting, Claims and Valuation to develop company positions on various elements like mortality expected patterns, cost structure, and company profitability.
• Support profitable and sustainable growth of company’s Career Agency, and Independent Channel through new product development efforts, underwriting guidelines and marketing actions.
• Partner with marketing to support roll-out strategy and training of new product designs and features.
• Represent National Life at industry meetings and with State regulators.

Key Functional Responsibilities

• Provide guidance and leadership to 3 Life Pricing teams, lead by senior level Actuaries.
• Develop innovative designs and features, perform business concept evaluations and competitor research.
• Oversee the complete product pricing and creation of actuarial state filing materials for new products and features.
• Accountable for profitability projections and other measures to maintain health of the product line.
• Support assumption-setting and provide regulatory input to help NLG’s growth. These include support for AG49 discussions as well as various Insurance Department discussions.
• Partner with Investments area to ensure appropriate asset allocation, asset management, and hedging activities in order to increase competitiveness of the product portfolio, while managing profitability.
• Collaborate with the Chief Actuary, Head of Finance and Head of Inforce Management in the setting of actuarial assumptions on inforce business, financial projections and planning assumptions.
• Member of Product Risk Committee and other committees as appropriate.
• Provide additional support for special Distribution relationships, as needed, for Life or annuity products.

Leadership Responsibilities

• Build cross-functional partnerships with various business units and teams throughout the organization (Distribution, Marketing, Operations, Finance, Valuation, Investments, Legal and Product Implementation).
• Work closely with L&A Solutions Leadership Team, Distribution Leadership, Legal, Marketing and Investments.
• Develop strong connections with key Distribution Agencies and relationships.
• Work with head of L&A Solutions to maintain develop and maintain National Life’s product strategy moving forward and ensure its profitability and sustainability.
• Model Servant Leadership Tenets in all aspects of leading the team.
• Represent National Life Group at various industry meetings as necessary.

Requirements

• Minimum bachelor’s degree in mathematics, Actuarial Science, Finance or related field.
• Fellow of the Society of Actuaries preferred.
• 15-20+ years of insurance industry or relevant financial markets experience with focus on life and annuity.
• Excellent written and oral communication skills.
• Proven leadership track record.
• Must be able to pass a full background check.

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