VP, Defined Benefit Product Management

The VP, Product Management is responsible for the product management and product development of all defined benefit product offerings at the full service retirement business in Prudential Retirement.  These offerings include final salary, cash balance and SERP plan types.  The position requires an experienced professional that is versed in the core product management and product development skill sets, but is also versed in the needs of associated organizations such as services and operations, technology, investments, relationship management, sales and sales support, and compliance and risk.  The position also requires a firm understanding of the underlying economics of the business and an ability to effect appropriate change in how the business is positioned and priced.  Finally, the position requires a firm understanding of the trust and custody and administration aspects of the business and how actuarial and investment capabilities compose the value proposition of a full service DB offering. Specific responsibilities include: 

• Evaluates relevant industry trends, regulatory concerns and competitive environment as a means to establish an underlying basis for all product development and product management initiatives
• Develops and implements new product initiatives within a financial framework that advances Prudential Retirements competitive position in the defined benefit market based on a thorough understanding of the external environment and Prudential Retirements internal constituencies
• Effectively leads the organization around the on-going product management needs of the defined benefit offering setting appropriate, financially justified policies and acting as a control point for internal platform evolution across all relevant teams such as services and operations, technology, investments, relationship management, sales and sales support, finance and compliance and risk.
• Establishes, through consultation, the go to market strategies by offering and segment, and coordinates all elements of the marketing mix including pricing, promotion, packaging, and distribution
• Achieves all compliance standards and demonstrates leadership in compliance, risk mitigation, suitability and business ethics.
• Develops a small team and builds a highly effective organization through attracting, developing, retaining and continuously upgrading a diverse team.
• Creates a positive culture where individuals can achieve extraordinary results.

The ideal candidate will possess the following skills and credentials:

• Minimum 10 years of related experience in the defined benefit industry strongly preferred
• Education: MBA required or equivalent business experience
• Licenses: Series 7 required within 180 days of hire
• Management experience encompassing the development of a diverse team of professionals focused on product development and product management
• Ability to make appropriate trade-offs within complex business situations composed of diverse business interests
• Strong written and verbal communication skills and an ability to engage across diverse disciplines
• Proven ability to promote an ethical and compliance conscious culture

This position can be based in either Hartford, CT or Woodbridge, NJ.

 

Prudential and its affiliates, Newark, New Jersey are Equal Opportunity/Affirmative Action Employers and are committed to diversity in our workforce.