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Corebridge Financial · 3 weeks ago

Head of Pricing and Product Development

CA-Woodland Hills

Full-time

Onsite

Director/Executive

$207K/yr - $330K/yr

15+ years exp

Corebridge Financial is a leading provider of annuities in the U.S., and they are seeking a Head of Pricing and Product Development to oversee pricing, rate-setting, and product design across their Individual Retirement portfolio. This role requires strong leadership and collaboration with various departments to achieve sales and profitability objectives while managing a high-performing team.

Financial ServicesInsuranceLife Insurance

Responsibilities

Overseeing the pricing process, ensuring appropriate assumption, modeling methodologies, and profitability reporting

Provide real-time pricing analytics for all fixed, index, RILA, and variable annuity products currently being sold in the market

Partner with Finance and Actuarial to understand profitability on in-force annuity blocks, including maintaining the bridge from pricing output to actual financial results in partnership with our Finance and Actuarial teams

Ensure consistency where appropriate in all pricing assumptions and methodologies for all product lines, including consistency with financial reporting assumptions and methodologies where appropriate

Co-chair of our Pricing Committee

New business rate setting for all products

Renewal rate setting for all products

Rate setting methodology and its alignment with our strategy and decision making

Establishing Corebridge’s Individual Retirement annuity product strategy

Maintaining a competitive and profitable product portfolio

Lead the innovation and product design efforts for all individual retail annuity products

Oversee the design of complex new products and features that meet company’s profitability, risk and sales objectives

Partner with Product Management to support the Implementation of product initiatives

Monitor competitive, regulatory, distribution and economic environments for new product opportunities

Maintain a deep understanding of customer, distributor, and shareholder needs via collaboration with Product Management, Pricing/Product Development, Sales and Distribution, Market Risk Management, Enterprise Risk Management, Legal, and Compliance

Maintain a current knowledge of accounting, regulatory, distribution, and compliance requirements to ensure products remain in a profitable, compliant and competitive position

Qualification

Product DevelopmentPricing StrategyActuarial ExpertiseLeadershipRetail Annuity KnowledgeRisk ManagementFinancial AnalysisAnalytical SkillsDetail OrientationCommunication SkillsTeam CollaborationStrategic Thinking

Required

15+ years (with at least 8 in a leadership position) in product development/strategy, pricing, risk management, product management or other relevant actuarial roles

BA/BS required

Deep knowledge of retail annuity products, with expertise in index, fixed, RILA and/or variable annuities

Broad understanding of all distribution channels in the financial services industry

Solid understanding of insurance company financials, including annuity pricing, risk management, GAAP and statutory accounting, regulatory issues

Demonstrated collaboration skills and the ability to lead a team, including the support of continued growth & development of internal talent

Highly organized – able to analyze and maintain large quantity of materials and manage multiple projects and priorities at once

Excellent communication skills, both verbal and written, and an ability to simplify complex concepts and to communicate to all levels of the organization

Ability to create compelling rationale for ideas and create thorough and thoughtful business cases

Demonstrated success in the design and delivery of new initiatives and ideas

Strategic and creative thinking; open-minded to others' ideas and suggestions

Demonstrated high level of detail orientation

Strong analytical, critical thinking and problem-solving skills – demonstrated ability to understand impacts of simple to complex concepts

Culture carrier and both team leader and team player

Ability to understand and respond to constituent needs and deadlines quickly and efficiently

Ability to travel occasionally to other Corebridge office locations or for attendance of industry conferences / distributor meetings

Preferred

Fellow in the Society of Actuaries (FSA) designation strongly preferred

Benefits

Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.

Retirement Savings: We offer retirement benefits options, which vary by location. In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.

Employee Assistance Program: Confidential counseling services and resources are available to all employees.

Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.

Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.

Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.