Northwestern Mutual

Senior Director - Annuity Product Development

Northwestern Mutual • $160K — $240K *
Milwaukee, WI 53215In-Person
Finance & Insurance
8 - 10 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's degree in Business Administration, Actuarial Science, marketing, or related field.
  • Minimum of ten years in insurance product development and competitive research.
  • Actuary background required.
  • Ability to think strategically and implement ideas effectively.
  • Proven experience in leading teams and decision-making processes.
  • Strong knowledge of risk products.
  • Effective communication skills with the ability to present information clearly.
  • Series 6 & 26 required or completion within six months.

Responsibilities

  • Develop and execute product strategies for risk product lines: life, annuities, disability income, and long-term care.
  • Assist in crafting strategies for maximizing sales growth and financial performance.
  • Continuously evaluate and enhance risk products, creating new solutions for competitive advantage.
  • Act as a liaison for field input on product desirability and maintain co-creation throughout development.
  • Represent risk products on cross-departmental project teams addressing compliance, marketing, and sales strategies.
  • Analyze competitors to provide recommendations for enhancements to our product offerings.
  • Ensure projects meet deadlines, budgets, and scopes.

Benefits

  • Comprehensive benefits package including health, vision, and dental insurance.
  • Retirement savings plan with company match.
  • Professional development opportunities and resources.
  • Flexible work arrangements offered.
  • Paid time off and holidays for work-life balance.
Full Job Description

Primary Duties & Responsibilities:

  • For one or more risk product lines (life, annuities, disability income and long-term care), develop and execute product development strategies that leverage our fundamental company advantages, understand the markets in which the product line is most relevant, and ensure execution in coordination with a broad variety of departments across the company.

  • May assist the product line leader in the development of product line strategies to maximize sales growth and ensure achievement of healthy product line financial results.

  • Continually evaluate and refine the Company's risk products, including developing new products and adding product enhancements and features to remain competitive and increase sales and market share.  This will include both evolution as well as more innovative approaches to risk products.  In addition to core risk products, design and develop solutions for adjacent markets and products, as well as disruptive approaches to the financial security market.

  • Liaison to all levels of the field in order to proactively seek input on desirable products, features, and benefits.  Use field insight, as well as client insight, to design and develop new products and features.  Maintain co-creation with the field throughout the product development process.

  • Provide representation and advocacy for risk product lines in cross-departmental project teams focusing on compliance, supervision, regulatory issues, servicing, marketing and sales strategies, cross-selling and financial security planning, and coordinate efforts where necessary.

  • Analyze competitors' products, features, and benefits to determine how NM can best compete. When warranted, make recommendations that NM offer such types of products, features, and benefits.

  • Ensure that projects are completed to meet schedule, scope, and budget.    

  •  Assist the field and other home office staff on product questions.

Qualifications:

  • Bachelor's degree in Business Administration, Actuarial Science, marketing or related field plus a minimum of ten years of experience in insurance product development, competitive research, product compensation, or other areas of the risk product insurance industry.

  • Actuary background required.

  • Demonstrated ability to think and implement strategically. 

  • Proven ability to lead decision making process through idea sharing and consensus building.

  • Demonstrated successful project leadership experience at Northwestern Mutual, or relevant external experience, with a keen focus on aligning project goals with Company strategy.

  • Strong knowledge of risk products.

  • High degree of personal initiative and self-motivation; ability to work on concurrent efforts, set priorities, and meet deadlines.

  • Effective communication skills with the ability to build rapport and gain acceptance of people at all levels in the home office and field; demonstrated ability to prepare and deliver clear and smooth presentations and well as convey information clearly and effectively in written format.

  • Series 6 & 26 required or successful completion within six months.

Desirable Qualifications:

  • MBA degree, JD degree, FSA designation, CLU designation, CPA designation, or other relevant degree or professional designation. 

  • Fifteen years experience in life insurance product development, competitive research, product compensation, or other areas of the life insurance industry.

Series 26 - FINRAFINRA, Series 6 - FINRAFINRA

Compensation Range:

Pay Range - Start:

$160,000.00

Pay Range - End:

$240,000.00

Geographic Specific Pay Structure:

Structure 110:

$176,000.00 USD - $264,000.00 USD

Structure 115:


$184,000.00 USD - $276,000.00 USD

We believe in fairness and transparency. It’s why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you’re living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, click to learn more.


About Northwestern Mutual

Northwestern Mutual has been helping people and businesses achieve financial security for more than 160 years. Through a holistic planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. Northwestern Mutual delivers financial security to millions with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. The company manages billion of dollars of investments owned by its clients and held or managed through its wealth management and investment services businesses. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).

Northwestern Mutual Careers

Joining Northwestern Mutual presents a unique opportunity to be part of a team that is dedicated to empowering personal and professional growth, innovation, and leadership in the financial services industry. As a company renowned for its commitment to excellence and a culture that values diversity and inclusion, Northwestern Mutual offers unparalleled job opportunities for both seasoned professionals and those at the start of their careers.

Work You’ll Do

At Northwestern Mutual, we believe in building strong relationships not only with our clients but also among our team members. By joining our team, you will collaborate with some of the most talented professionals in the industry, all united in their commitment to leadership and innovation. Our employees are equipped with top-tier benefits and diversity training that ensure their career journey is both rewarding and inclusive.

Explore Professional Growth and Development

Northwestern Mutual is committed to fostering an environment where career growth is not just a possibility but a priority. With a variety of positions available, from financial representatives to internships for budding professionals, our company is a place where your skills and passion can thrive. We provide extensive training programs and leadership development opportunities that prepare you for success in your current role and beyond.

Innovative Work Environment

Our team at Northwestern Mutual is at the forefront of integrating cutting-edge technology and innovative financial strategies to provide exceptional service to our clients. This focus on innovation is not just about staying current; it's about leading the way in the financial sector. Employees at all levels are encouraged to contribute ideas and take initiative, driving the company forward as a leader in the financial industry.

Be Part of Our Diverse and Inclusive Team

Diversity and inclusion are more than just buzzwords at Northwestern Mutual; they are integral to our company culture and business strategy. We are committed to creating a workplace where all employees can flourish. Our diversity training programs are designed to enhance understanding and foster an inclusive environment for all team members.

Networking and Career Advancement

Networking within Northwestern Mutual opens doors to expansive career advancement opportunities. We encourage our employees to engage in internal networking events, which often lead to mentorship and further career development. Whether you are looking to enhance your resume, prepare for an interview, or step into a leadership role, Northwestern Mutual provides the resources and support to help you achieve your professional goals.

Join Our Team

Search open positions that match your skills and interests. We are looking for passionate, curious, and solution-driven team players who are ready to take their career to the next level. Explore the job opportunities and internships available at Northwestern Mutual and find out how you can contribute to our legacy of innovation and leadership.

Stay Connected

Keep up to date with career tips, insider perspectives, and industry-leading insights you can put to use today—all from the people who work here. Personalize your subscription to receive job alerts, latest news, and insider tips tailored to your preferences. Discover the exciting and rewarding career opportunities that await at Northwestern Mutual.

SEARCH NORTHWESTERN MUTUAL JOBS

Join us and start your journey at Northwestern Mutual today, where your career is nurtured, your skills are honed, and your achievements are celebrated.
Learn more about Northwestern Mutual
Size
7,000 employees
Industry
Finance & Insurance
* Ladders Estimates

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