Head of Life Product

Company: MassMutual
Location: Hartford
Posted on: November 12, 2024

Job Description:

THE OPPORTUNITYAt MassMutual, we're passionate about helping millions of people find financial freedom and this passion has driven our approach to developing products which best meet the needs of our customers.To help us achieve our mission, we are hiring a Head of Life Product to join our team. - This role is responsible for ensuring our life insurance product portfolio is aligned with the firm's strategy and supports the continued growth of our whole life franchise. Our ideal Head of Life Product candidate excels as an executive leader overseeing all aspects of the life product suite from concept development to pricing to implementation. - The role requires innovative thinking, competitive awareness and an eye toward risk and capital management. -THE TEAMJoin a dynamic, senior leadership team focused on providing financial well-being for all Americans. Your team will include pricing and implementation experts with both technical and qualitative skills who are dedicated to the firm's life insurance product suite. The team collaborates across the organization to drive results and bring differentiated products to market.THE IMPACT:Product Development and Management:

• Leads the full product life cycle, with a focus on industry trends, growth opportunities, innovation, distribution, quality and profitability. - Responsible for the innovation, development, pricing and implementation of the life insurance product portfolio.
• Brings a deep understanding of profitability and capital implications to our ongoing pricing work. Oversees risk, capital and budget considerations - balancing competing levers to achieve optimal outcomes.
• Stays abreast of regulatory changes and how they might impact product development and pricing.
• Represent the MassMutual Life product suite at industry events and conferences; the face of life insurance at MassMutual.
• Develops strong internal and external relationships by consulting & partnering to identify unique, creative ways to achieve results. The role will require close interaction and partnership with senior leaders and collaboration across primary business functions including Distribution, Actuarial, Technology, Risk, Operations, Service, Compliance and Legal.
• Understands enterprise vision, strategy and roadmap to effectively align the team's goals.Innovation:
  • Plays a key role in the ongoing diversification of our distribution footprint through active partnership with our non-traditional life producers and our wealth management platform.
  • Partners with the broader product organization to seek creative solutions and design innovative offerings.Business Consulting & Support:
    • Provides consultative support to internal stakeholders, clients and partners as needed to facilitate optimal business outcomes.
    • Actively engages with our distribution organization to align product roadmap with emerging business needs and market regulations.
    • Represents the life product function at executive level business reviews, with direct visibility with the company's leadership team (Chief Actuary, CFO, CRO and CEO)People Management:
      • Leads, manages, and directs the activities of the department in all areas, including developing effective people strategies.
      • Fosters a positive and engaged work environment via active mentoring and coaching at all levels.
      • Contributes actively to and supports the broader product Leadership team to foster collaboration, talent development and career growth.Attributes:
        • Advanced knowledge of product development and management processes and tools
        • Exceptional oral and written communication skills with the ability to convey information in a way that is meaningful and compelling to a variety of audiences
        • Highly advanced ability to thrive in a fast-paced environment and deliver quality results under tight timeframes.
        • Expert persuasion and negotiation skills when working with internal/external customers to resolve issues/problems.
        • Marked ability to attract, develop and retain top talent with a strong commitment to DEI.
        • Exceptional ability to make timely and effective decisions and produce results through strategic planning combined with a passion for execution.
        • Ability to maintain a visible presence in our Springfield, MA campus and to visit our other locations (Boston, New York) as needed.THE MINIMUM QUALIFICATIONS
          • 10+ years life insurance product leadership position
          • Deep knowledge of the life insurance competitive landscape, product structuring and pricing
          • Effective communication skills across all mediums (verbal, written, presentation)
          • Proven track record of innovative life insurance product development
          • Culture carrier and significant management experience
          • Technical life pricing skills
          • High level of critical thinking
          • College Degree
          • Model MassMutual's Core Values: Focus on the Customer, Act with Integrity, Value People, Work Collaboratively, Achieve ResultsTHE IDEAL QUALIFICATIONS
            • FSA strongly preferred
            • Familiarity with Mutual company dividends and participating policyowner dynamicsWHAT TO EXPECT AS PART OF MASSMUTUAL AND THE TEAM
              • Regular meetings with the Product team and senior management committees
              • Focused one-on-one meetings with your manager
              • Access to mentorship opportunities
              • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
              • Access to learning content on Degreed and other informational platforms
              • Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits#LI-IZ1MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
                
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Keywords: MassMutual, Newton , Head of Life Product, Other , Hartford, Massachusetts