Director, Product Development

Corebridge Financial • Jersey City, NJ

1d • $110,000 - $115,000 • Hybrid

About The Position

The Director, Product Development, Innovation is responsible for concept initiation and development by partnering with cross functional internal teams as well as discussions with Broker Dealer partners and asset managers to identify future growth opportunities for Corebridge. Opportunities for growth may come through enhancement to existing offerings, creation of new solutions for broad scale distribution, creation of new solutions for focused distribution, as well as “piloting” of innovation in a “test and learn” environment. The Director, Product Development, Innovation will be focused on product differentiation and introducing elements to our product suite that are unique to Corebridge to drive sales and help create advisor loyalty through Corebridge product offerings. This individual will be responsible for early-stage concept documentation and positioning ensuring product solutions being proposed meet a customer need and will deliver a measurable result for Corebridge. The Director, Product Development, Innovation partner with cross functional teams to socialize initiatives and collect feedback to help influence both design elements (where appropriate) and assessing feasibility and viability to prioritized initiatives. Additionally, this individual will help determine key measures of success for initiatives that move forward, as well as monitoring success measures for solutions in market to determine if there are opportunities to sunset solutions that either are not resonating in the market or are at the tail end of their product life cycle. This individual will be responsible for growing and maintaining the product concept pipeline and ensuring that we are moving initiatives forward that meet the evolving needs of the business as well as the broad annuity market and financial services industry.

Requirements

• Bachelor’s degree in business, tax, financial services or related studies
• Minimum of 10+ years of annuity industry experience
• Understanding of annuity functional impacts to new product development work - anticipate issues and contemplate solutions
• Working knowledge of annuity industry operational processes
• Ability to perform quantitative and qualitative analysis of new product development initiatives
• Strong executive presence
• Experience in leading without authority and influence change across an organization
• Deep understanding of the annuity market, annuity products, annuity sales process, sales drivers, internal business process flows and administrative platforms
• Ability to identify business risks and concerns while evaluating product concepts – early engagement with controls functions
• Demonstrated creative problem solving
• Strong relationship skills
• Natural collaborator with the ability to bring various functions together to drive decisions
• Ability to think like a business owner

Nice To Haves

• Actuarial background a plus

Responsibilities

• Maintain key focus of product development efforts on concepts that enhance stakeholder value
• Develop early-stage product concept documentation that will both help to socialize new initiative work and will evolve through the iterative product development process
• Partner closely with functional counter parties to navigate both the feasibility and viability phase of the product development lifecycle
• Organize and maintain the product concept pipeline and ensure items remain up to date, and concepts are defined enough to be moved forward if prioritized
• Maintain clear and searchable records of decisions and rationale’ (supporting documentation) to inform future business decisions
• Onboard and drive adoption of innovation management tools and resources and help facilitate the innovation process and any applicable internal and external ideation crowdsourcing and campaign work
• Operate with a level of skepticism when intaking and developing new concepts in an effort to “break” the concept and root out issues
• Support the downstream product lifecycle from implementation to post launch support as necessary

Benefits

• Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
• Retirement Savings: We offer retirement benefits options, which vary by location. In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
• Employee Assistance Program: Confidential counseling services and resources are available to all employees.
• Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
• Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
• Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

What This Job Offers

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