POSITION SUMMARYThe Senior Analyst, Annuity Product Development (Retail) will be key part of Individual Market Team, engaging in product development and innovation, helping to fuel next leg of sales growth.
This position is a key member of the Annuity 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.
The successful candidate will report to the Vice President, Individual Markets and can be located in either out Hartford, CT, Des Moines, IA, or New York, NY offices. An important component of the role will be effective collaboration and communication across Individual Markets as well as investments, risk, hedging, and finance areas to manage new business and in force profitability, product competitiveness and sales growth.
The successful candidate will also collaborate with KKR to enhance our combined capabilities to design and launch new solutions to the marketplace. The successful candidate needs a demonstrated ability to think both creatively and strategically.
RESPONSIBILITIES- Perform timely research, development, and robust product pricing of new solutions.
- Use MG-ALFA or other modeling actuarial projection software to develop disciplined, robust pricing models and risks analysis for new product design ideas and modifications to current products.
- Effectively balance competitive and 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.
- 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 illustration.
- 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 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.
- Must be able to travel occasionally to other offices (i.e. Des Moines, Hartford, New York, Wayne (PA))
This is the expected annual base salary range for this Boston-based position. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.
Base Salary Range
$75,000-$100,000 USD
This is the expected annual base salary range for this Connecticut-based position. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.
Base Salary Range
$75,000-$100,000 USD
This is the expected annual base salary range for this Iowa-based position. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.
Base Salary Range
$75,000-$100,000 USD
