Product Specialist I

Product Specialist I

Requirements

• Bachelor’s Degree In math, systems or other technical field or commensurate selection criteria experience.
• Demonstrated product knowledge of life insurance and annuity products.
• Cites examples of self-motivation and experiences handling high volumes of work and deadlines with limited supervision.
• Cites examples of working in teams to solve complex problems with multiple competing stakeholders.
• Proven strong analytical skills, including demonstrated experience identifying and quantifying problems, and providing effective resolutions for corporate objectives and product issues.
• Strong knowledge of life insurance and annuity sales and compliance systems.
• Cites examples from work experience of grasping new methods and concepts, and determining creative and original solutions or problems.
• Cites examples of using good judgment in dealing with multiple alternatives.
• Demonstrated ability to effectively interact and communicate with peers in cross-functional teams.
• Working knowledge in Excel, including experience with macros and formula features.
• Familiarity with life and annuity administration systems.
• Familiarity with life illustration software.

Responsibilities

• Independently manages routine maintenance and smaller scale product projects as assigned.
• Supports new product projects through ideation and assessment by assisting in the development of detailed marketing requirements and determination of viable sales levels, product features, risk levels, and profitability.
• Participates in assigned product development execution projects by analyzing issues, recommending solutions, and providing product, illustration, procedural, and testing guidance to project team upon request.
• Assists in the assembly, analysis, and communication of industry and regulatory information on emerging products, services, illustrations and sales systems to be used in the product development process, business planning, and strategic analysis.
• Identifies and documents areas and opportunities for improvement. Coordinates problem resolution with Lafayette, Shared Services, and external personnel.
• Provides support for the development, maintenance and testing of administration systems, illustration systems, transition and rollout plans, product training and educational materials, and operational procedures in a timely manner.
• Participates in the logic and calculation testing of new product coding or updates to coding in both the illustration and administration systems.
• Properly escalates and researches items that arise out of any assigned project that require Lafayette Life signoff and relays those decisions to the project team.
• Liaises with shared services areas for production and operation support, including IT support, business technology, new business, internal wholesaling team, and policy services.
• Supports the testing of programming fixes using Enterprise testing methodologies, ensuring that the fixes are accurate and do not impact other programs already implemented.
• Conducts assigned periodic recurring reporting ensuring that each is delivered correctly and timely. Maintains documentation for all assigned periodic reporting work programs.
• Conducts quality assurance checks upon request, ensuring that product features and calculated values are correct and align with contract language and computation standards. Corrects errors, working with IT and policy services to communicate and, where appropriate, escalate issues.
• Performs other duties as assigned.
• Complies with all policies and standards.

Preferred Qualifications

• Actuarial experience and/or education.