What are the responsibilities and job description for the Manager Life Product Development position at Indiana Farm Bureau Insurance?
Primary Responsibilities:
- Collaborating with Marketing, Underwriting, and Sales to design life and annuity products for various distribution channels.
- Providing support to the Life Product Review Committee.
- Assisting with new product implementations including testing and distribution support.
- Assuring that the life and annuity products deliver value to the consumer, offer competitive compensation to distribution, and provide a fair risk-adjusted return for the organization.
- Collaborating with the Chief Actuary to develop profitability objectives by product.
- Creating and maintaining a robust pricing analysis (including Illustration Actuary testing).
- Periodically assesses the profitability of our current portfolio based on current margins.
- Managing the Pricing team.
Requirements for Success:
- Bachelor's degree in actuarial science, mathematics, statistics, or related fields (preference for a master's degree).
- 7-10 years of actuary experience with ASA or FSA standing.
- Minimum of 3 years of managerial experience (preferred).
- Experience in product development within a cross-functional environment.
- Knowledge of life and annuity products, tax, valuation, ASOPs, and applicable regulations.
- Strong communication and collaboration skills.
- Ability to build and maintain effective relationships with stakeholders.
- Willingness to seek the bigger picture, act inquisitively, and display drive.
- Efficient utilization of administrative and illustration systems (preference for experience in AXIS).
IFBI Perks:
- An organization that values work/life balance
- Paid Vacation/Sick Leave
- 401K w/ Match
- Potential for a yearly bonus with a possible payout of up to 20% of the salary
- Benefits eligibility within 30 days of employment
- Collaborate in a team environment
- Paid volunteer hours
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