Vice President, Individual Life Product Development
Why join Prudential?
Prudential Financial, Inc. has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management.
As a Product Line Leader, you’re responsible for successfully managing the strategy for a major product line within the Individual Life Insurance portfolio through increased focus, accountability and cross-functional partnership. You will report to the VP of Product Solutions for the Individual Life Insurance organization.
This position can be located in our Newark, NJ office, which is Prudential’s headquarters, Hartford, CT, in addition to other potential locations. Approximately 10 % travel is required in the United States.
The position provides the opportunity to operate as the champion of the product line, helping the organization identify and achieve the goals for success. More specifically will have the following opportunities:
Develop, execute and maintain product line strategies, with a depth of understanding of the future state vision for the line and how it aligns with Individual Life Insurance’s strategic direction.
Connect product strategies to sales, marketing, and operational strategies at the line, product and initiative level.
Identify and prioritize objectives and market value propositions at the line, product, and initiative level and successfully collaborate with others to execute on the vision.
Develop and maintain a focus on key inforce management strategies impacting the financial outcomes for the product line.
Maintain a holistic and outward facing view of what is necessary to ensure success for the line and all initiatives supporting it.
Determine product line priorities and complete and present business cases for development of new products, including what is needed for success in the areas of services, sales and marketing tools, etc.
Drive and champion initiatives through implementation, roll-out and post-rollout promotion and education.
Provide a depth of knowledge for the product line to support connected efforts in other Individual Life Insurance functions.
Proactively identify and resolve issues and obstacles preventing optimal sales potential.
MBA or relevant designations preferred (e.g., FSA, MAAA, CLU/ChFC)
10+ years of Financial services experience and a strong understanding of the individual life insurance business preferred
Prior experience in the product development process, including pricing, business strategy and/or market/competitive research
Ability to think strategically and analytically to connect a variety of internal and external inputs into a vision and direction
Ability to successfully influence and collaborate with professionals at all levels and functions, including senior management and field/sales professionals
Proven success of leading others in a matrixed environment