VP, Defined Benefit Product Segment LeaderPrudential Financial, Dubuque, IA
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For more than 140 years, Prudential has delivered products and services that help address the financial challenges of individual and institutional customers. Today, with operations in the United States, Asia, Europe and Latin America, Prudential is among the world’s largest financial services companies. Building your career at Prudential offers you the opportunity to truly make a difference.
This highly visible leadership role resides in our Full Service Solutions (FSS) business and it will report directly to the Head of FSS Product and Business Management. The DB Product Segment leader will have general management responsibility ensuring that the DB portfolio of solutions meets or exceeds revenue and profitability targets. The leader will create an end-to-end view of our DB business and its future opportunities, including developing a long-term strategy, business plan, product enhancement and driving business model efficiency. The role will be responsible for business plan execution, including delivering on existing business commitments, ensuring exceptional client experience, risk management and optimizing strategic investments across the DB portfolio.
The leader will oversee a small team of highly skilled professionals while continuously promoting a culture of learning and focusing on product delivery success and increased efficiency. He or she should have a demonstrated ability to excel in a matrix environment and to quickly and effectively gain cross functional alignment with key partners within and outside of the FSS business (including Individual Solutions, Operations, Client Relationship, Marketing, Technology, Financial Wellness Office, Workplace Solutions Group, Customer Office, and other U.S. Business Partners). The leader should be passionate about driving change and willing to learn from all levels within the organization. Guiding the team in their efforts to influence business partners in a positive and inspirational manner, while modeling the organizations' core values, will be at the core of how this leader is evaluated.
- Establish business strategy for the DB segment, develop a business plan and manage the P&L results, including cost saving commitments, sales growth and client/revenue retention.
- Articulate market and industry trends, customer needs, demand drivers and competitive landscape; define segment-specific market-leading value proposition.
- Drive optimization of DB product, service and business model, with emphasis on seamless integration with DC solutions
- Develop product roadmaps to support business strategy, operating plans and end-to-end the customer experience.
- Drive innovative thinking and enable successful delivery and rollout product and service enhancements and business process improvements in a timely manner and within budget.
- Work closely with pricing, finance and actuarial to influence pricing policy and drive product pricing.
- Prioritize strategic DB investments, evaluate trade-offs and assess opportunities/risks.
- Partner closely with other Product Segment leads including Defined Contribution, Non-Qualified, and Individual, to optimize cross-business strategic investments.
- Work closely with key partners in FSS and across Retirement and Prudential, as well as with third parties, to deliver on key strategic initiatives, effectively manage risk and deliver sustained profitable growth.
- Track progress to the business plan and facilitate gap resolution.
- Be the champion for resolution of product issues (e.g. quality, delivery, etc.).
- Bachelor's Degree or equivalent experience; MBA preferred.
- 10+ years P&L retirement and financial services management experience, demonstrated financial acumen and analytical ability.
- Relentless focus on client experience; broad knowledge and experience in managing investments, services, distribution, delivery and/or client relationships.
- Experience developing strategic investment and technology portfolios and making portfolio management trade-off decisions.
- Experience in developing and managing best in class retirement or financial services solutions and business models, while increasing assets, revenue and profitability.
- Strong leadership skills and demonstrated ability to build high performing teams and a culture consistent with Prudential core values. Comfortable not having direct control over all resources required to achieve business goals and empowering others to lead.
- Experience in effectively engaging with clients, advisors and third parties and driving optimal business outcomes.
- Strong influencing skills, proven track record building consensus driving results in a fast paced, fluid, heavily matrixed and highly regulated environment.
- Demonstrated success as a positive change agent that led meaningful process improvement efforts and business transformation; approaching each task with a 'can do' attitude and a goal of motivating and inspiring others.
- Ability to resolve conflicts and negotiating win-win outcomes effectively and tactfully.
- Courage to take intelligent risks, and a proven ability to be a catalyst for decision making across the broader organization.
- Ability to approach work with intellectual curiosity and transparency, with an openness to giving and receiving feedback. Self-awareness of strengths and opportunities and willingness to learn, grow and improve.
- Exceptional verbal and written communication/presentation skills.
- FINRA series 6 and 26 required, to be obtained within 120 days of employment.
- Ability to travel 25%-50% of the time.
- Job location: Hartford, CT or Iselin, NJ.