Sign In
 [New User? Sign Up]
Mobile Version

Director, Product Management, Pension Risk Transfer

Prudential


Location:
Newark, NJ
Date:
01/18/2018
2018-01-182018-02-16
Job Code:
447238
Prudential
Apply on the Company Site
  •  
  • Save Ad
  • Email Friend
  • Print
  • Research Salary

Job Details

Position Title: Director, Product Management, Pension Risk Transfer
Job Code: 447238
Job Location: New Jersey-Newark
Description:


The Pension Risk Transfer market presents a significant global growth opportunity for Prudential Retirement. Prudential Retirement has positioned itself as a thought leader in this market and continues to expand resources focusing on the challenges faced by plan sponsors in managing a pension plan. Pension Risk Transfer is responsible for manufacturing and administering the institutional insurance products that play an important role in many large defined benefit plans. With over $90 billion in guaranteed liabilities, defined benefit annuities are a vital part of the Retirement business. As part of our strategic focus on this market, we are looking to hire a Director, Product Management.

Market Environment and Opportunity: The Pension Risk Transfer market presents a significant global growth opportunity for Prudential Retirement. Prudential Retirement has positioned itself as a thought leader in this market and continues to expand resources focusing on the challenges faced by plan sponsors in managing a pension plan.

In the U.S., corporations are actively re-evaluating the risk management of and costs surrounding their defined benefit pension obligations. Prudential possesses a strong market position and industry-leading capabilities surrounding the design and delivery of pension risk transfer strategies. For more than 85 years, Prudential has been partnering with pension plan sponsors around the globe to secure retirees’ incomes while providing the flexibility firms need to eliminate pension risk and refocus on their core business.

Prudential is looking to aggressively grow its Pension Risk Transfer business within the United States. Position is currently located in Newark, NJ.

The successful candidate will be responsible for the oversight and review of Prudential’s US Pension Risk Transfer (PRT) Cash Market bidding process, oversight of certain Mid-market U.S. PRT transactions, coordination of U.S. Cash Market bid decisions and act as a Transaction Manager for selected U.S. PRT Jumbo transactions. He or she will coordinate and work closely with business partners to ensure an appropriately controlled operating environment so that we are able to respond to critical transactions. He or she may also assist with pipeline management and new product development initiatives in support of PRT’s strategic objectives. Product development responsibilities will include assisting with organizational readiness for a new product or capability. The position is based in Newark, NJ.

Responsibilities include, but are not limited to:
• Own day-to-day management of PRT’s bidding process for our buy-out and buy-in products. Oversight includes coordination with key partners across the organization, including Pricing and Distribution, to reply to requests in an accurate and timely manner.
• Resolve issues that are escalated within PRT’s bidding process
• Lead request for proposal (RFP) processes in support of delivering significant new sales
• Negotiate terms & conditions in legal agreements
• Build repeatable processes in support of PRT’s bidding process
• Cross train in key in-force product management responsibilities
• Assist in the development of new product development initiatives as we build unique capabilities to sustain competitive advantage, respond to client needs, and maintain market recognition as the global pension leader
• Responsible for developing and maintaining standard operating procedures
• Day to day management of an Associate including coaching, performance reviews, associate development, etc.


  • Understanding of the Institutional Retirement business required; Defined Benefit & Pension Risk Transfer business knowledge a plus
  • Demonstrated ability to partner with teams outside of individual’s reporting lines
  • Strong communication and collaboration skills
  • B.A. or B.S. or Equivalent Work Experience in the Financial Services industry
  • Minimum of 5-7 years of related experience
  • Attention to detail and strong work ethic
  • Ability to juggle multiple, competing priorities

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.
Job Function: Banking/Financial Services
Schedule: Full-time
Apply on the Company Site
Powered ByLogo

Featured Jobs[ View All ]

Featured Employers [ View All ]