Core Job Responsibilities
Product Strategy and Ideation
- Define product roadmaps by aligning individual savings product strategies with overall corporate financial and growth goals.
- Conduct market intelligence and competitive analysis to identify market gaps, interest rate trends, and shifting consumer demographics.
- Design product propositions featuring unique savings structures, such as multi-currency options, policy split options, or flexible premium payment terms.
- Build business cases with evidence-based data to secure buy-in and funding from the Product Steering Committee (PSC) and executive management.
End-to-End Product Development
- Lead cross-functional working groups comprising Actuarial, Underwriting, Legal, Compliance, IT, and Operations teams to build out the product framework.
- Translate product concepts into precise technical and functional specifications for system configuration and policy drafting.
- Oversee financial viability by collaborating with pricing actuaries to model product profitability, guarantee structures, and non-guaranteed dividend/bonus scales.
- Direct User Acceptance Testing (UAT) for core administrative and illustration systems to ensure accurate benefit projections and quotation generation.
Regulatory Compliance and Governance
- Enforce product governance standards to ensure all savings literature strictly complies with internal risk policies and external regulatory bodies.
- Draft policy documentation, including policy provisions, Product Information Statements, and Benefit Illustration templates.
- Manage product due diligence assessments to mitigate conduct risks, ensuring savings products clearly disclose fees, surrender values, and investment risks.
Commercialization and Distribution Support
- Create Take-to-Market strategies tailored across diverse networks like Agency, Bancassurance, Brokerage, and Digital channels.
- Develop sales compensation schemes and marketing campaigns to incentivize frontline distribution partners and drive target sales behaviors.
- Produce training tools and launch packs highlighting key selling edges, competitive advantages, and target customer segments.
Lifecycle Management and Optimization
- Monitor financial performance by analyzing sales volume, policy retention rates, profit margins, and surrender trends.
- Revamp existing lines through targeted enhancements, policy options, or rider extensions to maintain market competitiveness.
- Manage Team Performance by mentoring junior product managers and development officers to sustain a high-performing department.
Requirements
- Bachelor's degree holder, preferably majoring in Actuarial related discipline
- A minimum of 10 years of experience with solid exposure to product development of saving products
- Fluency in Cantonese and English
