Senior Manager, Direct Product & Propositions

Description:

Role Purpose and Summary

This role will have responsibility for NobleOak’s direct product proposition, including product development, strategic direction, product performance monitoring, financial performance management, product governance and reinsurance. This role is pivotal in driving NobleOak’s competitive positioning and market strategy.

This role will form part of the Insurance team, and work closely with the actuarial, sales, marketing, claims, underwriting, customer service, risk and legal teams, as well as NobleOak’s reinsurer.

Key Accountabilities

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• Direct Product Development, Management & Monitoring
  
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  • Own the product development lifecycle, including ideation, product specification, cross-functional team liaison, project management, launch and post-launch monitoring.
    
  • Own all product collateral, including but not limited to TMDs, PDS, benefit fund rules, customer quotations, and customer letters/correspondence.
    
  • Conduct ongoing reviews of product and pricing competitiveness, reporting key insights back to the business and making recommendations to maximise portfolio performance across in-force and new business.
    
  • Work with the required teams to produce analysis of direct portfolio performance, monitoring against business targets and areas of opportunity.
    
  • Provide product subject matter expertise and support to the broader NobleOak team.
    
  • Lead industry product award submissions.
    
  • Draft Board/Committee papers relating to product and pricing change recommendations.
    
  
  
  
• Direct Strategy & Growth Initiatives Input
  
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  • Work with the Chief Growth Officer and Head of Insurance to drive the direct product strategy, across all direct distribution channels
    
  • Actively contribute to business growth forums, bringing product, pricing and distribution ideas and subject matter expertise.
    
  • Product ideation and innovation.
    
  • Work closely with the sales, marketing, customer service, IT, underwriting and claims teams to align on overall business objectives.
    
  
  
  
• Direct Product Financial Management
  
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  • Take responsibility for key performance metrics for the direct product.
    
  • Actively manage the direct portfolio to meet required financial outcomes, taking actions as required as they relate to product design, pricing review, sales/distribution approaches, retention activities, etc
    
  
  
  
• Product Governance
  
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  • Ensure all product development is conducted in accordance with internal policies, risk appetite and regulatory requirements
    
  • Ensure appropriate review and signoff of all product initiatives and customer product collateral items, with internal teams, external stakeholders and Board/Committees as relevant
    
  • Own the product review and DDO reporting process
    
  • Ensure all regulatory and compliance obligations are met in completing product-related activities, including with APRA, ASIC and LICOP.
    
  • Representation on relevant industry working groups e.g. CALI
    
  
  
  
• Reinsurer Management
  
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  • Manage the reinsurance relationship in respect of the direct product, including for product and pricing activities, product development and strategic planning.
    
  
  
  
• Project Management/Delivery
  
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  • Drive implementation of project related initiatives, ensuring close engagement with internal teams, timely delivery and adherence to governance processes.
    
  • Responsible for delivering end-to-end product deliverables including technical requirements, change requirements, internal education, and external stakeholder liaison.
    
  
  
  

Experience & Qualifications

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• Tertiary qualification in a finance, commerce, business or related discipline
  
• Senior experience in a retail product role in the Australian life insurance market.
  
• Strong technical knowledge of the Australian retail life insurance industry, including the market landscape, products and features, regulatory environment, compliance and legislative requirements
  
• Good analytical and problem-solving skills, with exposure to product and pricing comparison tools
  
• Good communication and presentation skills (both written and verbal)
  
• Experience working with senior stakeholders including at C-suite and possibly Board level.
  
• Good organisation, time management and multi-tasking skills
  
• Strong relationship management and negotiation skills, with strong commercial aptitude
  
• Experience managing projects and driving projects to implementation
  
• Sound product risk management and compliance experience