Essential Job Functions:
- Assists in planning, organizing, staffing, and or leading including assigning and checking work, conducting on-the-job training, and providing input to performance appraisals. Works with management in areas involved in the product process to ensure that clear lines of authority and accountability are established for all associates. Aligns business objectives within Emerging and Strategic Solutions (ESS) operations, divisions, departments, and teams by managing these objectives using measurements as a tool.
- Identifies and defines the scope of new product development initiatives and product enhancements needed to meet market demands and support strategic initiatives. Directs the product development process for new product or product enhancement initiatives from conception through final product design acting as an advocate for the needs of sales and the consumer. Proposes product line and portfolio strategies to management.
- Monitors innovative product/service solutions within the Emerging & Strategic Solutions division. Identifies new market spaces and opportunities within the division by analyzing trends, shifts in customer needs, gaps and disruptions while searching emerging new opportunities.
- Completes opportunity assessments for new product or product enhancement initiatives. Identifies key policy provisions, service requirements, pricing considerations, and reporting requirements. Completes strategic fit assessments to ensure product initiatives fit within the ESS strategic objectives including corporate and division directives, target market objectives, growth opportunities, distribution strategies, legal and compliance issues, E-commerce strategies/capabilities, pricing considerations, product or market diversification strategies, and system strategies. Determines the life cycle of the product and completes a risk assessment including implications for customers, existing products, other distributions, key producers, legal or compliance issues, competitive environments, exit strategy, and other operational projects.
- Completes the business case for the product development initiative and determines all aspects of product design. Completes an impact assessment including implications for sales and distribution, marketing, underwriting, financial reporting, benefits administration, compliance, actuarial, investments, technology, and contingency plans for expanding or exiting a product line. Provides the product specification, which may include illustration format/solve specifications, and intent to supporting areas. Coordinates application & form development, marketing specifications for illustrations, financial projections for sales and profitability. Develops a cost/benefit analysis for product development initiatives. Works with support areas (i.e. Brand, Marketing, etc.) to execute marketing strategies for product introduction and determines impacts to sales channels, employers, participants, producers, etc. Provides support areas with the technical product information necessary for materials for producers, employers, and employees. Reviews, evaluates, and approves marketing materials for the accuracy of the technical text. Coordinates the training strategy and provides direction and information for the development of training plans and materials. Conducts internal and external product training.
- Leads the product/project team in order to develop and deliver work product based on negotiated timelines. Monitors the progress of the product/project and is accountable for reporting and correcting any stage gate issues. Provides direction to the Product Development Specialist in order to support the product lines.
- Assists the Product Line Officer in monitoring the sales performance of the work product (i.e. difference in sales, expense allowables, pricing assumptions, etc.) on an ongoing and timely manner to Management. Proposes recommendations as necessary to contribute to the growth and profitability of the product line (i.e. corrective actions.)
- Identifies, develops, and recommends competitive compensation programs for key producers to meet market demands and achieve corporate and division strategic initiatives within expense guidelines.
- This position requires extensive or prolonged typing/keyboarding.
- This position requires sitting over 66% of the time.
- This position requires Visual Acuity at 20 inches (or less) over 66% of the time.