VP, Product Design and Derivatives Pricing

Des Moines, Iowa, United States;
Hartford, Connecticut, United States

About Global Atlantic

Global Atlantic is a leading provider of retirement security and investment solutions with operations in the U.S., Bermuda, and Japan. As a wholly-owned subsidiary of KKR (NYSE: KKR), a leading global investment firm, Global Atlantic combines deep insurance expertise with KKR’s powerful investment capabilities to deliver long-term financial security for millions of individuals worldwide. With a broad suite of annuity, preneed life insurance, reinsurance, and investment solutions, Global Atlantic, through its issuing companies, helps people achieve their financial goals with confidence.

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POSITION SUMMARY

The Vice President,Annuity Product Development(Retail) will be key part of Individual Market Team, engaging inproduct development and innovation, helping to fuel next leg of sales growth.

This position is for a leadership position on the Annuity Product Development team, responsible for developing and pricing new annuity products with theobjectiveof achieving sustainable competitive advantage with an industry leading product portfolio. This individual will engage with key internal and external stakeholders across multiple functions to proactively find creative solutions to the opportunities and challenges faced in today’s retirement market across multiple distribution channels.

The successful candidate will report to the Director,Individual Markets andcanbe located ineither out Hartford, CT, Des Moines, IA, or New York, NYoffices. An important component of the role will be effective collaboration and communication across Individual Markets as well as investments, risk, hedging, and finance areas to manage new business and in force profitability, productcompetitivenessand sales growth.

The successful candidate will also collaborate with KKR to enhance our combined capabilities to design and launchnew solutions to the marketplace. Knowledge of insurance, investments, finance,actuarial and hedging is critical for success.

This role will have responsibility for contributing toproduct strategy to profitability grow sales and manage in force profitability and will be accountable for communication across business areas and the overall execution of products within our retail franchise. The successful candidate needs a demonstrated ability to think both creatively and strategically.

RESPONSIBILITIES

• Leadtimelyresearch, development, and robust product pricing ofnew solutions.
• Use MG-ALFA or other modeling actuarial projection software to develop disciplined, robust pricing models andrisksanalysis for new product design ideas and modifications to current products.
• Effectively balance competitive and pricingobjectivesto achieve overall company objectives.
• Implement best practices in pricing methods, automation, organization, and documentation to improve overall efficiency and quality of product development efforts.
• Ensure product designs fit the desired risk/profitabilityprofileand policy forms provide sufficient levers to effectively manage product profitability post-issue.
• Collaborate with the Annuity Product Implementation team during the implementation of new products,responsibilities include supporting state & prospectus filing, marketing, and sales illustration.
• Collaborate with theInforce
  
  Pricing team to set rates on new products and effectively incorporate new products into the product management processes.
• Communicate with peers in product, risk management, investments, marketing, legal & operations.
• Develop andmaintainindustry knowledge including economic, regulatory, and competitive environments to supportdevelopmentof new products.

QUALIFICATIONS

• Bachelor’s Degree in Actuarial Science, Math, Statistics, Computer Science, Physics or Engineering required
• Five plus years of experience in the annuity/life insurance industry is preferred, product development experience preferred
• Five plus years’ experience in programming financial models in any actuarial modelling software (R3S, Prophet,Axisor MG Alfa), or other programming language such as Python, C/C++or Java
• Fellow of the Society of Actuaries
• Demo…