Senior Director - Annuity Product Development

Northwestern Mutual; Milwaukee (WI); On-site; USD 160,000 - 240,000; Full time

Job summary

Northwestern Mutual in Milwaukee, Wisconsin is seeking an accomplished risk product leader to drive development and execution of life, annuity, disability income, and long-term care products. You will coordinate with multiple departments to translate market insight into competitive offerings and strong sales performance.

The role emphasizes strategic thinking, cross‑functional leadership, and effective communication to align product strategy with company goals and regulatory requirements.

Qualifications

• Bachelor’s degree in Business Administration, Actuarial Science, Marketing or related field plus minimum of ten years in insurance product development.
• Actuary background required.
• Series 6 & 26 required or successful completion within six months.
• Strong knowledge of risk products.
• Demonstrated strategic thinking and leadership.

Responsibilities

• Develop and execute product development strategies for risk product lines (life, annuities, disability income, long-term care).
• Assist product line leader in strategies to maximize sales growth and healthy financial results.
• Evaluate and refine risk products; design new products and enhancements to stay competitive.
• Collaborate with field input to co-create products and features throughout development.
• Represent risk product lines in cross-departmental teams addressing compliance, supervision, regulation, servicing, marketing, and sales.
• Analyze competitors’ products and advise on potential offerings and benefits.
• Ensure projects meet schedule, scope, and budget.
• Assist field and home office with product questions.

Skills

Strategic thinking

Leadership

Decision making

Communication skills

Initiative

Project leadership

Stakeholder management

Education

Bachelor's degree in Business Administration

Bachelor's degree in Actuarial Science

Bachelor's degree in Marketing

MBA

JD

FSA designation

CLU designation

CPA designation

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. Its 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 youre living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable.

Grow your career with a best-in-class company that puts our clients’ interests at the center of all we do.

Northwestern Mutual is an equal opportunity employer that welcomes talented individuals of all backgrounds. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.