VP, Individual 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.
Prudential Retirement provides financial wellness solutions, including investments and recordkeeping, for the Defined Contribution, Defined Benefit, Non-Qualified and Individual markets. Currently our client base includes 3,500 corporate, governmental, non-profit and Taft Hartley plan sponsors and more than 4.2 million individuals. The Individual Product Segment of our business is critical to Prudential's future growth and at the forefront of delivering financial wellness solutions to millions of American workers.
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 Individual Product Segment leader will have general management responsibility ensuring that the Individual portfolio of solutions meets or exceeds revenue and profitability targets. The leader will create an end-to-end view of our Individual business and its future opportunities, including developing a long-term strategy, business plan, new product development and driving optimal business model changes. The role will be responsible for business plan execution, including delivering on existing business commitments, ensuring exceptional client experience and optimizing strategic investments across the Individual 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. 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 Individual 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 market-leading innovation and optimization of Individual product, service and business model.
- 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 of new products and services in a timely manner and within budget.
- Work closely with pricing, finance and actuarial to influence pricing policy and drive product pricing.
- Prioritize strategic Individual investments, evaluate trade-offs and assess opportunities/risks.
- Partner closely with other Product Segment leads including Defined Contribution, Defined Benefit, and Non-Qualified, to optimize cross-business strategic investments.
- Work closely with key partners in FSS and across Retirement, WSG, and Customer Office 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 or wealth management experience, demonstrated financial acumen and analytical ability.
- Relentless focus on client experience; knowledge and experience in managing retirement or wealth management investments and services, including individual education, sales and servicing CRM and digital solutions.
- Experience developing strategic investment and technology portfolios and making portfolio management trade-off decisions.
- Proven track record of developing, managing and improving best in class retirement or financial services, individual solutions and business models, while increasing assets, revenue and profitability.
- Strong leadership skills and demonstrated ability to lead a high performing team 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 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; experience in communications with external audiences.
- FINRA series 7 and 24 required, to be obtained within 120 days of employment.
- Ability to travel 25%-50% of the time.
- Job location: Hartford, CT or Iselin, NJ.