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Manulife · 2 weeks ago

Chief Product Officer

Boston, MA

Full-time

Hybrid

Director/Executive

$218K/yr - $405K/yr

15+ years exp

Manulife is a leading international financial services provider, helping people make their decisions easier and lives better. The Chief Product Officer (CPO) is responsible for leading the development and lifecycle management of John Hancock’s insurance product portfolio, driving substantial business growth and ensuring product strategy aligns with customer needs and market demands.

FinanceFinancial ExchangesFinancial Services

Responsibilities

Set and execute product strategy to achieve substantial and sustained growth, financial performance targets, and marketplace differentiation

Fully align product actions with company’s overarching ambition to help customers live longer, healthier, better lives through insurance solutions and strategic partnerships

Maintain deep understanding of product risks, success levels, and competitive dynamics

Champion the use of AI and data analytics to enhance product design, pricing, and customer experience

Oversee the competitive positioning of all products in market, working closely with Marketing, and Sales & Distribution to ensure product messages resonate

Serve as accountable business owner for the life insurance application, illustration and administration platforms

Play a pivotal role in setting overall business strategy, collaborating with executive leadership and technical teams to find creative solutions to complex challenges

Take decisive actions whenever necessary to ensure business remain on track for sustainable growth in the face any emerging threats

Lead end-to-end product development and pricing, with direct influence on marketing and Distribution

Drive breakthrough innovations, such as customer engagement programs (e.g., John Hancock Vitality) and methodologies that deliver tangible customer benefits

Oversee transformation initiatives that modernize the product portfolio and introduce new value propositions

Oversight over new business reinsurance transactions / negotiation

Ensure all products adhere to company risk management guidelines and regulatory requirements

Maintain bottom-line accountability for product portfolio performance and risk oversight

Build and lead high-performing teams of product managers, specialists, and actuaries

Foster a culture of collaboration, technical excellence, and continuous learning

Mentor and develop talent, ensuring succession planning and retention of subject matter experts

Ensure products are delivered into market with winning, repeatable, messages

Work in close partnership with Distribution to ensure in-market success of products

Align product initiatives with Distribution’s feedback, market insights, and sales strategies

Support product launches and ongoing market engagement through collaboration with Distribution leadership

Monitor product sales practices to ensure products are positioned in market as intended; take swift action whenever necessary

Represent John Hancock externally with advisors, distributors, and at industry events

Deliver compelling sales presentations and thought leadership to promote John Hancock’s product innovations

Maintain close relationships with distribution partners, producers, industry experts, and influencers who shape perception of products in market

Drive breakthrough innovations, such as customer engagement programs (e.g., John Hancock Vitality) and methodologies that deliver tangible customer benefits

Oversee transformation initiatives that modernize the product portfolio and introduce new value propositions

Oversight over new business reinsurance transactions / negotiation

Qualification

Product DevelopmentInsurance PricingAIData AnalyticsCross-Functional LeadershipFinancial PerformanceRegulatory ComplianceMarket StrategyTeam LeadershipCollaborationMentoringCommunication Skills

Required

15+ years of progressive experience in product development, management, and leadership roles

Proven ability to lead cross-functional teams and deliver breakthrough results

University degree in Finance, Actuarial Science, or other relevant concentration. M.Sc., MBA, or Professional designation such as CA, CFA or Actuarial designation would be an asset

Working knowledge of insurance pricing

10+ years business-related experience, including several years of leadership of a product, project, and/or pricing teams

Broad understanding of various distribution channels, advisor behavior, sales systems, target insurance clients, and their needs

Deep experience with product development and project delivery processes

Experience bringing transformational change to market

Thorough understanding of the insurance industry and the competitive landscape for financial products

Clear grasp of the regulatory environment for insurance and general financial services industry

Ability to effectively lead a team across multiple locations

Benefits

Health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans

Various retirement savings plans (including pension/401(k) savings plans and a global share ownership plan with employer matching contributions)

Financial education and counseling resources

Up to 11 paid holidays

3 personal days

150 hours of vacation

40 hours of sick time (or more where required by law)