Director, Product Development

Prudential Financial • Shelton, CT

20h • Hybrid

About The Position

At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading financial services institutions! The Director, Annuity Product Development – Growth Initiatives will develop annuity product solutions that align with our business strategy, supporting both Individual Markets and Growth Initiatives as we expand into new markets. While this role contributes broadly, the primary focus will be on advancing our Growth Initiatives and driving innovation within our Insurance Overlay Wealth Management platform (also referred to as CDA, or Contingent Deferred Annuity). The current Employee Work Arrangement for this opening is Hybrid. The employee will work 3 days a week at a Prudential location in Newark, NJ, Dresher, PA, or Shelton, CT. Employee will be required to attend or go into the office for any mandatory onsite/offsite meetings/trainings. Employee Work Arrangement is the businesses decision and can be adjusted or changed for business reasons at any time. What you can expect: Support the development and implementation of annuity product solutions aligned with our Growth Initiatives and Insurance Overlay Wealth Management strategy. Collaborate with cross-functional teams to develop product specifications, filing strategies, and go-to-market plans focused on client value and experience. Partner with Pricing, Compliance, Law, Risk, Hedging/Investments, and Customer Experience to ensure offerings meet all regulatory and platform requirements, align with risk management objectives, and deliver superior advisor and client experiences. Assist in the design and pricing of annuity products, facilitating working sessions to refine product features and profitability levers. Support the cultivation and prioritization of the innovation backlog and product pipeline for Growth Initiatives. Contribute to lifecycle management of the product portfolio, including regular analysis of product performance and proactive management of economics and risk. Collaborate with Distribution and Marketing to define product positioning, consumer profiles, and create collateral materials and illustrations. Assist with contract development, state filing strategy, and initial rate setting during implementation. Develop and deliver training for internal and external partners during product launches. Foster a 'test and learn' environment for new initiatives and support a culture of innovation and ownership across the business.

Requirements

• Minimum 8 years of experience in annuities or retirement-related fields; experience with transformative annuity and/or income solutions within Wealth Management or Defined Contribution plans preferred.
• Strong knowledge of financial services products, annuities, and the retirement industry.
• Proven ability to collaborate and build relationships across multiple levels of the organization and with external partners.
• Excellent influencing, organizational, facilitation, communication, and presentation skills.
• Critical thinker, proactive leader, and self-starter with the ability to manage multiple projects and prioritize effectively.
• Experience navigating ambiguous situations and driving results in a transforming environment.
• Bachelor’s degree required.

Responsibilities

• Support the development and implementation of annuity product solutions aligned with our Growth Initiatives and Insurance Overlay Wealth Management strategy.
• Collaborate with cross-functional teams to develop product specifications, filing strategies, and go-to-market plans focused on client value and experience.
• Partner with Pricing, Compliance, Law, Risk, Hedging/Investments, and Customer Experience to ensure offerings meet all regulatory and platform requirements, align with risk management objectives, and deliver superior advisor and client experiences.
• Assist in the design and pricing of annuity products, facilitating working sessions to refine product features and profitability levers.
• Support the cultivation and prioritization of the innovation backlog and product pipeline for Growth Initiatives.
• Contribute to lifecycle management of the product portfolio, including regular analysis of product performance and proactive management of economics and risk.
• Collaborate with Distribution and Marketing to define product positioning, consumer profiles, and create collateral materials and illustrations.
• Assist with contract development, state filing strategy, and initial rate setting during implementation.
• Develop and deliver training for internal and external partners during product launches.
• Foster a 'test and learn' environment for new initiatives and support a culture of innovation and ownership across the business.

Benefits

• Market competitive base salaries, with a yearly bonus potential at every level.
• Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
• 401(k) plan with company match (up to 4%).
• Company-funded pension plan.
• Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
• Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
• Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
• Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
• Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Director