Director, Product Development

$152,500 - $206,200/Yr

Prudential - Dresher, PA

Full-time - Senior

Dresher, PA

Insurance Carriers and Related Activities

About the position

The Director of Annuities Product Development will work with Product, Operations, Distribution, Control Functions, and Partner Firms to develop annuity product solutions that align with our business strategy, including Individual Markets and Growth Initiatives supporting our expansion into new markets. This individual is responsible for leading collaboration with cross-functional teams to develop product specifications, filing strategies, and end-to-end go-to-market strategies that focus on client value and experience while driving profitable growth for the Individual Retirement Strategies business.

Responsibilities

• Develop innovative product offerings that support our Future Growth Initiatives team and expands our addressable markets.
• Partner with the Future Growth Initiatives distribution team to ensure alignment of the distribution and product strategies.
• Drive the design and pricing of annuity product solutions through cross-functional working sessions to develop detailed product specifications for implementation.
• Collaborate with Pricing to develop pricing assumptions, profitability levers, and ensure alignment with corporate expectations and business strategy.
• Work with Implementation teams to develop a go-to-market strategy that considers partner needs, market trends, and customer experience.
• Partner with Compliance, Law, and Risk teams to develop and implement offerings that meet regulatory requirements and mitigate risks.
• Collaborate with Customer Experience to conduct advisor and consumer testing of the offering.
• Serve as a liaison to Distribution and Marketing partners to define product positioning, consumer profiles, and create collateral material and illustrations during implementation.
• Work with Product and Control Partners on contract development, state filing strategy, and initial rate setting during implementation.
• Develop and assist with training during implementation.
• Establish relationships and credibility across the business to effectively communicate product updates at all levels of the organization.
• Maintain a 'test and learn' development environment for all new initiatives.

Requirements

• A minimum of 8 years of experience in annuities or a retirement-related field.
• Experience developing transformative annuity and/or income solutions within Defined Contribution plans (e.g., 401Ks) is preferred.
• Strong critical thinking and leadership skills; proactive and takes initiative.
• Self-starter; able to assess what work needs to be completed and how to get it done.
• Knowledge of financial services products, annuities, and the retirement industry.
• Excellent influencing, organizational, facilitation, communication, and presentation skills.
• BA/BS degree required.

Nice-to-haves

• Ability to lead cross-functional initiatives and influence without authority.
• Effective at collaborating and building relationships with multiple levels within the internal organization as well as external partner firms and financial professionals.
• Strength of convictions and ability to influence and champion change.
• Ability to effectively manage several dissimilar projects and prioritize.
• Ability to work independently and as part of a team.

Benefits

• Market competitive base salaries, with a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company-funded pension plan.
• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.