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Director, Product Management - Group Disability/Absence Management Products

Company Name:
RM Staffing Associates
OPEN POSITION: Director, Product Management - Disability & FML/Absence Management
REPORTS TO: Head of Disability Products
SALARY RANGE: up to mid-100's range dependent on experience
BONUS TARGET: 38K
LOCATION:
Preference is in Monmouth County, NJ and Relocation WILL be offered; consideration will be given to Connecticut, Indianapolis, Boston, Houston, Santa Ana, San Francisco, or Los Angeles for right candidate
Position Summary:
In this new role reporting to the Head of U.S. Disability Product, the Director, Product Management will be focused on strategic development and management of the company's core products - Disability & FML/Absence Management for employer and affinity markets. This position has profit and loss responsibilities for the assigned product set. The position will act as the general manager for the product lines, developing strategy and making decisions within the context of the broader core product strategy and aligned with the Benefit Solutions portfolio strategy. These responsibilities include active review of pricing and strong partnership with legal, compliance, underwriting and claims organizations to influence all aspects of the product. This individual will establish new product development priorities for and serve as the thought leader on this product set.

Primary Responsibilities:
Profit and loss accountability for the product set:
Assess gaps in the product offerings
Review product performance, drive strategic direction of the product set within the portfolio strategy, and achievement of sales and profitability targets
Partner with pricing actuaries to ensure strategic pricing of the products and strong understanding of profitability drivers and metrics, including IRR and VoNB
Establish strong understanding of product performance and lead systematic, on-going performance reviews
Partner with Legal and Compliance on legislative and regulatory topics impacting the product set
Provide direction for sales, claims and underwriting teams relating to the product set
Drive innovation for an assigned set of products:
Develop product development priorities
Develop solutions-oriented products and capabilities informed by:
Field, market and consumer research
Competitive intelligence
On-going market performance monitoring
Maximize competitiveness while ensuring product standardization and administrative consistency
Provide leadership to make the company the recognized industry leader by maintaining competitive, innovative product solutions
Establish process for systematic, on-going market and field inputs
Manage all aspects of the product life cycle:
Ensure product integration with marketing, sales, underwriting and operations
Maintain strong understanding of changing legislative, regulatory, market and competitive landscape to drive profitable growth of new and existing products
Ensure continued compliance with all applicable rules and regulations
Develop business cases for new products and product enhancements and prioritize product development and filing initiatives
Achieve sales and profitability goals for each product line
Other Responsibilities:
Develop strong relationships with functional area business partners, including Legal, Compliance, Sales, Marketing, Underwriting, Finance and Operations
Develop a strong understanding of the interdependencies of the corporate functions and business units
Achieve in-depth knowledge of Benefit Solutions products, processes and technology
Keep up-to-date with financial services and insurance industry trends, with a keen focus on the consumer
Perform regular and comprehensive competitive analysis, using all available data sources, including but not limited to customer research, industry data sources; field, broker and industry contacts; and publicly available competitor information
Support the sales force in meeting their objectives by providing competitive products, product positioning, and market and competitive trend analysis
Provide leadership to instill high-performance culture
Skills Required:
Demonstrated achievements in managing profitable products
Established track record of product innovation and execution in the employee and affinity benefits markets
8+ years of experience in GROUP employee benefits, either in product development or management, actuarial, underwriting or related discipline, and at least two years in Disability and/or FML/Absence Management benefits
Demonstrated ability to influence and work effectively and collaboratively within a highly-matrix organization and with employees at all levels
Well organized, with a high degree of initiative and endurance in order to prioritize, multi-task, maintain flexibility and ultimately to meet and exceed deadlines in fast-paced, changing environment
Strong analytic, problem-solving and project management skills
Financial acumen
Excellent written, verbal and presentation skills
Strong collaboration and relationship building skills; demonstrated organizational savvy



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