VP Product Manager

Salary depends on experience
Posted on 09/21/17
Woodland Hills, CA
Salary depends on experience
Posted on 09/21/17

Position Description:
 Position Summary:
• Responsible for the Individual Retail Annuity Product Strategy for variable, indexed, fixed, and immediate annuities.
• Collaborate with partners within the department and across the organization to ensure the appropriate overall product strategy and adjust the strategy as company and/or marketplace needs change.
• Periodically present product strategy to senior leadership to ensure alignment with overall business strategy.
• Work with other Product organizations throughout AIG to learn and share best practices.  
• Lead the innovation and product design efforts for all individual retail annuity products.    
• Oversee the design of complex new products and features that meet company’s profitability, risk and sales objectives.
• Partner with Product Management to support the Implementation of product initiatives.    
• Maintain a deep understanding of customer, distributor, and shareholder needs via collaboration with Product Management, Pricing/Product Development, Sales and Distribution, Market Risk Management, Enterprise Risk Management, Legal, and Compliance.
• Collaborate with Pricing/Product Development to ensure the appropriate assumptions and product design are employed in pricing and risk analysis
• Monitor competitive, regulatory, distribution and economic environments for new product opportunities
• Maintain a current knowledge of accounting, regulatory, distribution, and compliance requirements to ensure products remain in a profitable, compliant and competitive position.
• Support internal approval process for new products
• Provide leadership with product/feature positioning and marketing strategies.
• Lead the Competitive Intelligence team, accountable for monitoring key competitors product and investment strategies and offerings across all retail annuity markets and building product intelligence throughout the broader organization
• Provide leadership and guidance to the Competitive Intelligence team, which will:
o Compile and communicate key competitive changes and trends as well as key strengths and weaknesses.
o Create and maintain relationships with contacts at industry firms (e.g. LIMRA, WINK, IRI, VARDS, etc.) and insurance companies.
o Create and maintain comprehensive, holistic tools to help Sales and Distribution compete in all product lines and distribution channels.
o Communicate with annuity and group leadership about industry trends and key changes that could impact our business objectives.
o Partner with Group Annuity/Retirement leadership (primarily Product and Sales/Distribution) as this Competitive Intelligence team supports their product and strategic efforts.
Ensure leadership in all areas are notified timely regarding key changes and trends to ensure the organization can adapt quickly and appropriately o Support broad AIG research initiatives that impact the retirement businesses. Organizational Structure: Position reports to the Senior Vice President Individual Retirement Products.

Position Requirements:
The ideal candidate should have:
• 10+ years (with at least 5 in a leadership position) in product development/strategy, risk management, product management or actuarial roles
• BA/BS required. Advanced degree or certification (eg, FSA, CFA) desired
• Deep knowledge of retail annuity products, with expertise in variable, equity-indexed, fixed, and/or immediate annuities
• Broad understanding of all distribution channels in the financial services industry
• Solid understanding of insurance company financials, including annuity pricing, risk management, GAAP and statutory accounting, regulatory issues.
• Demonstrated collaboration skills and the ability to lead a team, both teams that report into and do not report into the individual.
• Highly organized—able to analyze and maintain large quantity of materials.
• Success in effective management of internal/external relationships.
• Excellent communication skills, both verbal and written, and an ability to simplify complex concepts and to communicate to all levels of the organization
• Ability to create compelling rationale for ideas and create thorough and thoughtful business cases.
• Demonstrated success in the design and delivery of new initiatives and ideas.
• Strategic and creative thinking who is open-minded to others’ ideas and suggestions.
• Knowledge of technology to support efforts.
• Self-starter, driven, ethical.


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