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Director, Life Product Development Job

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Director, Life Product Development
Job# 2755
Location:  Des Moines, IA or Chicago, IL or Sioux Falls, SD or Remote
Education Requirements:  Bachelor's degree, preferably in mathematics, or a business-related field.
Other Requirements:  Include:

  • FSA preferred. Will consider near-FSA actively pursuing completion of FSA or career ASA.
  • Prefer minimum 8 to 10 years of experience in the field of Actuarial Science.
  • Demonstrate a superior level of mathematical ability and attention to detail and strong analytical skills.
  • Strong computer skills including proficiency in the use of applicable technical tools. Experience with MG-ALFA preferred.
  • Demonstrate strong written and verbal communication skills including the ability to present highly technical information to non- technical audiences.
  • Ability to apply insurance industry knowledge, preferably in the field of individual life insurance.
  • Pricing of life insurance or annuities preferred.
  • Experience with implementation of life insurance or annuities preferred.
  • Ability to identify and direct the analysis of problems or questions and provide recommendations to appropriate audiences.
  • Experience leading projects and/or supervising work of others is preferred.
  • Ability to work both individually and as part of a team.
  • Highly organized with the demonstrated ability to prioritize multiple projects and to switch priorities as necessary.
  • Ability to work effectively in an office environment.

Salary Range:  $140k to $175k DOE
Description:  Responsible for the pricing and implementation of life insurance products.  Lead a team of actuaries and/or analysts to price products that meet competitive and profitability objectives.  Oversee analysis and documentation, develop recommendations and present to management to drive decisions.  Provide leadership throughout the implementation of new insurance products, working closely with other departments and acting as decision-maker as needed.  Prioritize the team’s work, providing technical guidance and reviewing the results.  Manage multiple projects and work collaboratively with other departments.  Understand our Client’s companies, and its business units, financial goals and objectives and deliver results that support those objectives. Lead special projects as directed.  One direct report.  Job duties and responsibilities include:

  • Lead the pricing of new life insurance products that meet established profitability and competitive standards.  Work efficiently in a fast-paced environment.
  • Provide leadership and guidance for the implementation of new life products.  Actively participate in meetings and communications ensuring that the product and features are accurately built on all systems.  Act as decision-maker as needed.
  • Apply strong knowledge of insurance contracts and actuarial related regulations to ensure pricing is complete and accurate.  Recommend enhancements to existing processes or develop new processes to accommodate regulatory changes.
  • Lead staff to create, understand and interpret complex pricing models in line with best practices.  Maximize efficiencies.  Oversee and review analysis and explain the results of both deterministic and stochastic projections.  Ensure proper governance, peer review and documentation is completed.  Inspire excellence.
  • Develop relationships and collaborate with other departments and business units.  Effectively communicate with both technical and non-technical co-workers.  Prepare and present materials that are appropriate for the intended audience.
  • Actively follow trends in the life insurance industry.  Utilize critical thinking skills to solve complex problems.  Apply strong knowledge of our Client’s life insurance products, new business and in-force, and systems to provide a competitive edge.
  • Understand relevant actuarial risks and their underlying drivers.  Lead development of appropriate methods to monitor, measure and project risk exposure.  Understand the implications of failing to manage risk.  Provide leadership and direction to team to assist in developing risk mitigation techniques.  Prepare and present risk analysis to management.
  • Develop and manage a team of actuaries and/or analysts.  Manage and lead multiple projects.  Effectively plan and prioritize your team’s work in accordance with broader department objectives and priorities.  Provide technical guidance to the team and review their work for accuracy.  Execute performance management responsibilities on a timely basis.
  • Enhance and develop personal and professional skills through the Society of Actuaries’ continuing education requirements.  Attending actuarial-related conferences is strongly encouraged.

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