Assistant Product Manager - Whole Life & Term Product Development

Date: Jul 11, 2019

Location: New York, NY, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

Whole Life and Term Product Development Assistant Product Manager

The Whole Life and Term Assistant Product Development Manager will report directly to the Product Manager within the Retail Life group at NY Life. The Assistant Product Manager will be responsible for driving key components of our Whole Life and Term product lines with an emphasis on new product development.  The Product Development Team is responsible for identifying market opportunities and developing new products.

Key responsibilities include:

  • Product development, project management, sales and marketing support, and strategic thinking.
  • Lead the WL and Term product development efforts to drive incremental sales growth and value add, and strategically position WL and Term for future economic environments. This includes designing new products and features by leading team meetings that include representatives from across the entire company, including agents, wholesalers, actuarial, project management, compliance, SMRU, product compliance, OGC, underwriting, illustration, risk management, marketing, correspondence, and service.
  • Engage with the Finance team to understand the WL and Term P&L and its drivers. Create cost/benefit analysis for new initiatives, when making new product recommendations.
  • Monitor sales experience, identify threats and opportunities and lead the design and implementation of strategies to address them.
  • Provide expertise on all WL and Term products and riders internally and to the field. This includes ensuring that all inquiries and other related matters that require subject matter expertise are responded to in a timely manner and are fully rationalized.
  • Communicate with the most senior levels of management to generate support for new product initiatives.
  • Challenge motivate junior members of the WL and Term product development team, as well as help them grow and develop the necessary skills to advance their careers. Support the culture of accountability for success across all members of the team will be essential.
    Qualifications:
  • Bachelor’s degree required, MBA, Actuarial accreditation, or CFA preferred
  • 5+ years of relevant experience in Product Management/Development or actuarial capacities within Insurance Finance Industry or equivalent experience within life insurance or asset management field
  • In-depth and/or breadth of expertise in Product Management or Product Development process, as well as quantitative skills to understand the product and help develop the solutions for current/future client needs.
  • In-depth knowledge of products sold within the Life Insurance Industry.

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