Senior Director - Annuity Product Development

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

Job summary

Northwestern Mutual in Milwaukee seeks a senior risk product development leader with a decade or more of experience in insurance product development and competitive analysis. The role focuses on developing and refining risk products, collaborating across departments, and driving growth through innovative features and market adaptation.

The candidate will lead cross-functional efforts, coordinate with field input, and ensure projects meet schedule and budget while aligning with company strategy.

Qualifications

• Bachelor's degree plus a minimum of ten years of experience in insurance product development, competitive research, product compensation, or other areas of risk product insurance.
• Actuary background required.
• Strong knowledge of risk products; ability to align project goals with company strategy.

Responsibilities

• Develop and execute product development strategies for risk products (life, annuities, disability income, long-term care).
• Coordinate with departments to ensure execution and cross-functional input.
• Evaluate and refine products; create new products and enhancements to stay competitive and grow sales.
• Design solutions for adjacent markets and disruptive financial security approaches.
• Liaise with field at all levels to gather input and co-create product features.
• Represent risk product lines in cross-departmental teams focusing on compliance, supervision, marketing, and sales strategies.

Skills

Actuarial background

Strategic thinking

Project leadership

Communication skills

Consensus-building

Series 6 & 26

Education

Bachelor's degree in Business Administration/Actuarial Science/Marketing or related field

MBA degree

FSA/CLU/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

Additional Information

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.

About Northwestern Mutual

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. At Northwestern Mutual, we believe relationships are built on trust. That our lives and our work matter. These beliefs launched our company over 160 years ago. Today, they’re just a few of the reasons why people choose to build careers at Northwestern Mutual.

What started in Milwaukee, WI has grown into 7,000+ home office professionals split across 3 campuses: New York City, Franklin and downtown Milwaukee (HQ) - each one bringing with it its own unique talent and culture. In a company with such a long and storied history, this may be the most exciting and important time to be a part of Northwestern Mutual as we are growing our digital and tech capabilities and are always on the lookout for bright, tech-savvy candidates.

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.