VP & Actuary - Life Insurance / International

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VP & Actuary - Life Insurance / International– Bloomfield, CT or New York City     

Summary of Position Responsibilities:

This position is responsible for leading product management and product development for all non-direct marketing life and protection products for International including Life insurance (Whole life, term, endowment, universal life and variable universal life), health coverages, accident only coverages.  This position will have responsibility for reviewing and approving all new products in accordance with International’s product development approval process.  In addition, this position will be responsible for working with client countries on new product, strategies, distribution relationships and marketing programs to grow sales of protection products in accordance with International’s strategy. 

Dimensions of Position:

1. 2008 Sales of $1.6 Billion

2. Oversee/review development of 80-100 products annually across globe

3. Matrix environment requires providing direction to junior actuarial staff and in country product development staff but no direct management oversight

Principal Accountabilities of Position:

1. Lead review and approval of new Universal Life, Variable Universal Life, Term Life, Health Insurance, Endowment or other Protection Oriented products for all International countries.

2. Work with Countries to develop product strategies, marketing programs, distributions opportunities to achieve profitable growth objectives for protection products.

3. Leverage successful products across International geographies.

4. Work with countries on enhancing/maximizing profitability of inforce books of protections products.

5. Coordinate development of products with various Home Office subject matter experts – ALM, Tax, Finance, Accounting, Legal, etc. – to ensure successful product launches which meet market and regulatory requirements.  Act as liaison for countries with Home Office on all issues impacting new product or inforce product management.

6. Provide training and education on products and risk management through presentations to various outside parties – regulators, investment analysts, distributors, rating agencies, press.

7. Provide training to in country actuaries around products for which he is accountable.

8. Support M&A activities by providing product, risk management and financial expertise.

9. Provide direction to junior actuarial staff and in country product development staff but no direct management oversight

Knowledge/Skills/Competencies Required:

1) Fellow of Society of Actuaries of comparable status with similar organization

2) 8+ years product experience with Life Insurance and other protection products and expertise in risk management and marketing for these products.

3) Leadership skills to provide direction and guidance for country product staff

4) Presentation/communication skills appropriate for use with both internal and external audiences

5) Strong problem solving skills

6) Project management ability

7) Ability to communicate very technical issues in understandable manner to non-technical people

8) International experience strongly desirable, particularly in developing growth strategies for developing companies.

9) Language skills appropriate to our partner countries would be a strong benefit