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Head of Annuity Innovation & Development

Company: MassMutual
Location: Springfield
Posted on: August 4, 2022

Job Description:

THE OPPORTUNTIY Drive development of new products, features and capabilities with a focus on entry into new markets through core and alternative distribution outlets. Role will also help drive development efforts including creation of detailed strategy documents, and partner with product implementation leads in development of product specifications and build requirements and delivery of product to the marketplace. Act as owner, SME and decision maker throughout the product development and deployment process.KEY RESPONSIBILITIES INCLUDE:

  • Driver of ideation in expanding the portfolio of annuity products
  • Driving research to find new markets and new ways to reach customers
  • Expand the capability of core products and the overall experience for advisors focusing on technology needs (e.g FIDx for fee-based market)
  • Leverage MM acquisitions (e.g. Flourish & Blueprint) and develop new annuity products to be delivered through these platforms
  • Build strategies for how to integrate annuities into adjacent businesses (e.g. wealth management & retirement) delivering tailored products and end to end solutions to facilitate the execution of business for this new set of advisors and customers
  • Establish partnerships across MM product areas and distribution outlets including active engagement with the GAX/AAX and MMSD
  • Establish external partnerships with distribution outlets, industry groups, InsurTech and FinTech that will help to fuel future opportunities for growth and expansion of the product portfolio
  • Design and develop new solutions from end to end (experience and product/pricing)
  • Champion new ideas and gain buy-in from senior leadership, sales and business partnersTHE MINIMUM QUALIFICATIONS
    • 10+years relevant product experience
    • Strong grasp of annuity products, distribution outlets and operational/service capabilities
    • Strong knowledge of overall retirement landscape and research outlets that provide insight into consumer needs
    • Experience in building innovation strategies that expand business opportunities beyond coreproduct portfolio
    • Strong business acumen and understanding of how annuities make money and risks posed by the product
    • Strong verbal and written communication skills, ability to present new ideas to sales partners and senior leadership including ability to assist with product specifications drafting
    • Ability to work cross-functionally to reconcile competing priorities while meeting organizational objectives
    • Sound business judgment in an environment of rapid change - ability to respond to changes in direction, tight deadlines and high-pressure situations
    • Comfortable dealing with both complexity and ambiguity, and able to explore multiple solutions to a problem
    • Takes ownership and is results-orientedTHE IDEAL QUALIFICATIONS
      • Pricing experienceWhat to Expect as Part of MassMutual and the Team
        • Regular meetings with the Annuity Product Team
        • Focused one-on-one meetings with your manager
        • Access to mentorship opportunities
        • Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
        • Access to learning content on Degreed and other informational platforms#LI-DNIMassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.

          If you need an accommodation to complete the application process, please and share the specifics of the assistance you need.

Keywords: MassMutual, Springfield , Head of Annuity Innovation & Development, Other , Springfield, Massachusetts

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