Prudential

Director , Voluntary Benefit Product Management (remote)

3+ months agoWest Caldwell, NJ



Do you want to be part of a smart, ambitious professional team working together to create a better future for our customers and our communities across the US?

Become a part of Prudential

As one of the most recognizable financial services companies in the world, Prudential's employees are building on our 140-year history of financial strength with a focus on innovation and transformation to meet tomorrow's most complicated challenges. We are committed to growth and development in every single employee, and we see our business success as a direct result of our talent.

What is Group Insurance?

Group Insurance is an operating unit within the U.S. Businesses Division of Prudential that primarily focuses on creating, distributing, and administering a complex range of life and disability insurance products for many top Fortune 500 companies. Prudential has been underwriting group insurance plans since 1916. Today, our Group Insurance business unit is the nation's second largest group life carrier and a leading disability carrier, proudly servicing nearly 20,000 clients-and insuring more than 20 million employees and their families. Group Insurance has operation centers across the United States.

What will you do and what impact will you have?

The Director, Voluntary Benefits Product Management responsibility spans many tactical and some strategic activities that focus on managing the success of the Voluntary Benefit products that deliver on Group Insurance's vision and strategy. The Director, Voluntary Benefit products supports forecasting, planning, development, marketing, operations, and sales activities throughout the product life cycle. Their primary role is to execute the defined GI Product Management plan for an assigned product(s).

Responsibilities:

  • Oversee the day-to-day management of a product offering by utilizing data, metrics, and market feedback to form deep insights and provide recommendations to GI Product leadership that will enable product enhancements and strategic decision making

  • Execute and collaborate with core business partners to deliver critical product lifecycle processes that enable overall product and portfolio strategies

  • Collaborate and partner with functional counterparts across GI

  • Work on various projects and initiatives supporting Product Owners across the product portfolio

  • Maintain the P&L including, understand and manage key P&L drivers, understand how decisions impact the P&L, manage operating budget, drive efficiencies, and manage through obstacles

  • Monitor performance indicators of product offering and translate into actionable strategies and next steps for the marketplace, for internal improvements, etc.

  • Resolve issues that arise with product offerings. Escalate issues to Product Owner to engage other team members when necessary

  • Engage in the marketplace to represent Prudential's capabilities, support the sales process and gather input from key external stakeholders

  • Partner to develop and file contract language

  • Track product specific metrics provide data to support the broader portfolio view and identify gaps and opportunities for improvement.

  • Help analyze data and support business case for new product enhancements (i.e., product specific KPIs, marketing data, customer data, competitive data, sales, etc)

  • Serve as the subject matter expert on the product

  • Review and assess emerging regulatory issues and requirements

  • Closely monitor the initial launch of a new product: Meet with key Producers and Distribution partners, assess marketing and continuing education needs, hold case level discussions with functional partners

  • Conduct cost benefit analyses and update the product business case to support recommendations provided to the Product Owner

  • Conduct annual strategy refresh to identify shifts in the marketplace

  • Perform competitive, market, customer, and segment analysis

  • Provide input into distribution capacity planning process

  • Develop a comprehensive point of view on industry trends and the broader market and competitive landscape.

  • Develop and oversee the execution of a competitive intelligence and market research plan

  • Participate in industry groups as appropriate

  • Ensure marketing messaging is kept current and in alignment with product strategy

  • Educate Distribution and Functional Partners on Products

  • Support Distribution in sales activities as the product expert when needed



Qualifications:
Qualifications:
• At least 5 years of product management/development, marketing or related experience
• Project Management or other related experience such as underwriting, marketing, pricing, etc.
• Experience building internal relationships and working across a highly matrixed organization
• Experienced analyzing large data sets and interrelated metrics from disparate sources, that enable strategic decision making
• Outstanding communication and problem-solving skills. Ability to make decisions in an ambiguous / fast-paced environment, communicate rationale and make adjustments mid-course.
• A customer-centric focus keeps customers in forefront of decisions, connects plans and actions to purpose of serving clients
• Ability to thrive in a complex, dynamic environment
• Bachelor's degree preferred.