Director, Annuity and Life Insurance Product Development and Management (Boston) job at Fidelity Investments Boston, MA, US

Job Description

Director, Annuity and Life Insurance Product Development and Management
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Director, Annuity and Life Insurance Product Development and Management

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Job Description

Job Title: Director, Annuity and Life Insurance Product Development and Management

The Role

Based in Boston, the Director of Annuity and Life Insurance Product Development and Management is a key member of the Fidelity Investment Life Insurance (FILI) team's growing product team that supports the development and management of annuity and life insurance products to provide value to Fidelity customers. This role will help drive FILI’s product development, including designing, developing, launching and managing annuity and life insurance products in collaboration with large and diverse cross-functional teams and external partners / vendors. The ideal candidate must have strong domain knowledge in individual fixed and variable annuity, and life insurance products.

Job Description

Job Title: Director, Annuity and Life Insurance Product Development and Management
The Role
Based in Boston, the Director of Annuity and Life Insurance Product Development and Management is a key member of the Fidelity Investment Life Insurance (FILI) team's growing product team that supports the development and management of annuity and life insurance products to provide value to Fidelity customers. This role will help drive FILI’s product development, including designing, developing, launching and managing annuity and life insurance products in collaboration with large and diverse cross-functional teams and external partners / vendors. The ideal candidate must have strong domain knowledge in individual fixed and variable annuity, and life insurance products.

Specific Responsibilities Include
Develop and Launch New Products:

Participate in new product launches on the FILI product roadmap by partnering with cross-functional teams including but not limited to distribution, actuarial, legal, compliance, operations, technology, risk, finance
Develop detailed product specifications and applications in collaboration with product actuaries, compliance, technology and cross-functional teams
Partner with distribution to ensure alignment of product value proposition, methodology development, and planning / tools integration
Collaborate with distribution to create training and marketing materials for new products
Conduct product trainings to customer facing advisors, if needed
Participate in the development of innovative product offerings for FILI’s product roadmap by contributing annuity product expertise, customer prospectives, and industry market insights

Manage Existing Products

Responsible for on-going annuity pricing rate submission in various systems, in collaboration with FILI actuarial team and reinsurance partners
Maintain and publish rate and sales tracking reports
Responsible for quarterly reporting on variable products
Partner with Operations, Actuarial, Compliance etc. on maintenance of annuity forms
Manage relationship with external vendors on tool access & updates, contract approval and processing
Review contracts, riders, and prospectus language for consistency with product specifications
Review and maintain product training materials
Partner with cross functional groups on new fund additions to variable annuities, if any
Support our continued product enhancements to our Digital offerings

Provide Product Expertise

Act as a Subject Matter Expert on Fidelity insurance-related initiatives
Contribute to market intelligence by assessing industry landscape, trends, and customer needs
Collaborate with diverse teams across Fidelity to support a variety of insurance related projects

The Expertise And Skills You Bring

Bachelor’s degree required
8+ years of proven Annuity and Insurance experience, including developing, launching and managing annuity products
Deep product expertise in the annuities space
Strong communication skills, including the ability to communicate complex and technical concepts to stakeholders across different levels
Strong project management skills with experience influencing cross functional groups without authority
Ability to manage multiple competing priorities
Strong critical thinking and decision-making leveraging data driven insights
Knowledge of financial services products, and the role of annuities in retirement planning
Self-starter - able to assess what work needs to be completed and how to get it done
Ability to build and maintain positive relationships as you work collaboratively across teams
Expert in Microsoft Excel and strong user of other Microsoft products
Experience with Life insurance and group annuity is a plus
This role does not currently require FINRA registrations/licenses, however if a candidate already has FINRA registrations/licenses some may be maintained as 'permitted' in accordance with the Fidelity Licensing and Registration Policy

The Team
Outstanding opportunity to join a newly formed team at FILI. The growing FILI Product Team is a dynamic group that supports the development and management of new annuity and life insurance products to provide value to Fidelity customers. FILI provides financial products that help Fidelity’s investors achieve lifetime financial goals. Having annuity and life insurance solutions as options is a strategic advantage for Fidelity’s Brokerage and Wealth Management business units. Our products help ensure our clients do not outlive their assets in retirement, safeguard portfolios from market volatility and protect against premature death.

Certifications
Category:

Product Management

Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days, M-F) in a Fidelity office.

Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.

Seniority level

Seniority level
Director

Employment type

Employment type
Full-time

Job function

Job function
Sales and Business Development

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