VP / AVP - Head of Life Product Development

3 weeks ago

Montpelier, United States National Life Group Full time

VP / AVP - Head of Life Product Development

Summary

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.

The starting rate listed is just one component of our total compensation package for employees. Other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position. National Life offers a competitive total rewards package which includes: a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment National Life Group is a trade name of National Life Insurance Company, Montpelier, VT - founded in 1848, Life Insurance Company of the Southwest, Addison, TX - chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group. Fortune 1000 status is based on the consolidated financial results of all National Life Group companies. National Life Group 1 National Life Dr Montpelier, VT 05604 Social Media Policy Site Disclosure and Privacy Policy

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