Product Development Manager

$99,160 - $178,480/Yr

USAA - San Antonio, TX

posted 2 months ago

Full-time - Mid Level
San Antonio, TX
Credit Intermediation and Related Activities

About the position

At USAA, we are dedicated to facilitating the financial security of millions of U.S. military members and their families. As a Product Development Manager, you will be part of our New Business Ventures and Innovation team, working in a dynamic startup environment focused on building and testing new products and capabilities within the auto telematics space. This role is crucial in helping to shape the future of USAA's Property and Casualty business. You will support the development of new products aimed at strategic markets and provide assistance for product line initiatives that encompass product development, compliance, operational improvements, claims management, vendor management, product documentation, fulfillment, and system releases. In this position, you will participate in the development of digital-first products that cater to the needs and risks of USAA members. You will support the launch of innovative product offerings and enhanced features for existing products. Your role will involve advising others on product launches and evaluating decisions regarding whether to buy, build, or partner. You will be responsible for generating creative product and coverage solutions to ensure a robust product development pipeline. Additionally, you will maintain knowledge of business and underwriting performance for the products in scope, analyzing internal and external data to support product strategy and enhance competitive intelligence. Your responsibilities will also include conducting analyses of key data to monitor and maintain existing products based on performance, member needs, and market changes. You will develop and communicate the value proposition for new product improvements and guide Member Contact teams on the optimal use of sales guides. Furthermore, you will analyze new product performance metrics to recommend changes before full launch and coordinate with control partners to ensure compliance with laws and regulations. Your role will be pivotal in identifying, measuring, supervising, and controlling risks associated with business activities in accordance with risk and compliance policies.

Responsibilities

  • Participates in the development of digital first products supporting the needs and risks of USAA Members.
  • Supports efforts to develop and launch new innovative product offerings as well as auxiliary/enhanced features/services for existing products.
  • Advises others in the launch of new products and in the evaluation and decision to buy/build or partner.
  • Generates creative product and coverage solutions for member needs to ensure a dynamic product development pipeline exists.
  • Responsible for maintaining knowledge of business and underwriting performance for products in scope (e.g. trends, results, etc.).
  • Analyzes internal and external data and member information to support formulation of product strategy and enhance competitive intelligence.
  • Conducts analysis of key data to support on-going monitoring, maintenance and underwriting of existing 'new in market' products based on product performance, member needs and driven changes in the market including but not limited to product rules, rates, and forms.
  • Develops and communicates the new product value proposition for product improvements/features.
  • Guides Member Contact teams on how to optimally use sales guides and provides education on new products and services, including new offerings and improvements to existing features.
  • Analyzes and evaluates new product performance metrics to recommend offering change, if vital, prior to full launch.
  • Coordinates with relevant control partners (to include Legal, Compliance, and Risk Management) to ensure product offerings are crafted and implemented in compliance with all applicable laws and regulations.
  • Ensures risks associated with business activities are optimally identified, measured, supervised, and controlled in accordance with risk and compliance policies and procedures.

Requirements

  • Bachelor's Degree in Business, Marketing, Supply Chain, Statistics, or related field; OR 4 years of related experience may be substituted in lieu of degree.
  • 6 years proven experience in Actuary, Underwriting, Marketing, Operations, Financial Services or relevant military experience.
  • Experience conducting research, compiling and analyzing data, and identifying trends that have supported product decisions.
  • Demonstrated experience in developing, deploying and supporting product and/or coordinated suite of products.
  • Knowledge and understanding of Product Development Life Cycle (PDLC).

Nice-to-haves

  • 6+ years of P&C Insurance (product and/or claims) experience
  • 2+ years of Auto Telematics experience
  • Insurance or Other Professional Designation (e.g. CPCU, PMP, ARM)
  • Business development experience
  • Knowledge of design thinking, within the digital product and insurance space
  • US military experience through military service or a military spouse/domestic partner

Benefits

  • Comprehensive medical, dental and vision plans
  • 401(k)
  • Pension
  • Life insurance
  • Parental benefits
  • Adoption assistance
  • Paid time off program with paid holidays plus 16 paid volunteer hours
  • Various wellness programs
  • Career path planning and continuing education assistance
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