AVP, Annuity Product Development & Strategy

Job Summary

The AVP, Annuity Product Development & Strategy is accountable for managing the research and development of products for F&G’s Retail Annuity product portfolio, along with maintaining a competitive product portfolio that supports the execution of strategic goals for the Retail organization.  This role leads market research, competitive analysis, and development and design initiatives, ensuring F&G’s product offering remains competitive and aligned with customer needs and market dynamiics

This position will report to the VP, Retirement Product Officer and will have two direct reports

Duties and Responsibilities

• Product Strategy and Development
  • Collaborate with the Retail Senior Leadership Team to identify innovative product concepts to be considered for the product roadmap.
  • Ensure robust due diligence process to conduct in-depth analysis along with appropriate concept testing.
  • Effectively communicate value proposition of product concepts prior to moving through the product development process.
  • Develop close working relationships with key external distribution partners and an understanding of their business models, product needs and partnership opportunities.
  • Recommend product strategy and relevant concepts in support of strategic goals
• Stakeholder Collaboration and Governance
  • Maintain strong working relationships with internal business partners to collaboratively manage workflow between functional areas in order to more effectively achieve strategic objectives
  • Work closely with cross-functional stakeholders to ensure objectives for each product development stage are met and are aligned with both product and enterprise goals. This is inclusive of deliverables from pricing, sales and distribution, marketing, underwriting, illustration development, legal & compliance, operations, IT, and other impacted business capabilities needed to design and implement product
  • Oversee product development and ideation. Successfully partner with key stakeholders throughout the life cycle of the product, or table development activity if deemed appropriate by Retail leadership. Ensure communications around development timelines, hurdles, or milestones are effectively distributed among project stakeholders, senior leaders and any external partners.
  • In coordination with subject matter experts, develop business cases, product concepts, strategic roadmaps, and go-to-market strategies to facilitate informed decision-making and lead to successful product launch
  • In partnership with Retail leadership, monitor the health of product portfolio and success of product launch activity
  • Collaborate with the Retail team to advocate for business segment priorities and advise on current and upcoming development efforts
• Market Intelligence and Regulatory Compliance
  • Leverage market intelligence insights to inform product development strategies, including data driven prioritization of new business opportunities and optimization of competitive positioning
  • Partner closely with sales, marketing, distribution, and product teams to translate market and competitive insights into actionalable recommendations that shape product design, pricing strategies, and go-to-market approaches
  • Lead competitive intelligence efforts by tracking and analyzing competitor product launches, feature enhancements, pricing changes, and market positioning to proactively identify threats and opportunities for F&G's retail annuity portfolio. Coach and mentor team members responsible for data collection and analysis, ensuring consistent delivery of timely, relevant, and actionable market iinsights to senior leadership
  • Proactively monitor the regulatory landscape to address and respond to regulatory issues to develop and execute any necessary product or operational changes to adhere to regulatory requirements
  • Maintain active participation in industry committees and study groups to be aware of market dynamics, regulatory trend,s and emerging trends that will influence F&G’s product strategy and portfolio

Experience and Education Requirements

• Bachelor’s degree or commensurate experience required
• 10+ years progressively more responsible experience in the financial services industry with a concentration on annuity products, with at least 5 years in annuity product development or management
• Strong understanding of product functionalities and various distribution models for annuities required
• Experience with developing Business Case/Cost-Benefit Analysis and Go-To Market Plans is required
• Strong understanding of the various business functions within a life insurance and annuity manufacturer required
• Working knowledge of the annuity marketplace required
• Strong understanding of the annuity regulatory environment required

Knowledge, Skills & Abilities

• Demonstrated leadership abilities, including requisite communications skills (verbal, written, and presentation)
• Demonstrated ability to develop and mentor team members through coaching, feedback, and professional development opportunities
• Strong interpersonal skills – the ability to collaborate with a wide range of teams and individuals to achieve a common goal
• Demonstrated understanding of various annuity markets, distribution partners, products and product categories, and insurance operations along with the ability to address the various stakeholder needs within a compelling Business Case
• Ability to seek and analyze data/information from a variety of sources to arrive at the best decisions and to align others with the organization’s overall strategy
• Ability to demonstrate creative problem-solving skills and strong business acumen
• Ability to lead and excel in a fast-paced production environment while addressing multiple projects and responsibilities
• Unconditional integrity and commitment to delivering accurate information on schedule
• Appropriate priority setting, resource assessment, and delivery management

Other Requirements

• Perform other functions, duties and projects as assigned
• Regular and punctual attendance
• Ability to travel up to 10%

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