Nationwide Product Manager - P&C in Des Moines, Iowa
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Number 54 on the Fortune Magazine 100 Best Places to Work.
Responsible for positioning products for profitable growth within state(s) with greater financial impact and complexity. Develops and implements multi-year strategic plans that positions products line(s) for profitable growth within state(s) or region. Implements processes related to Financial Planning, Rate Reviews, Market Development and Communication of product management. Supports regional/corporate objectives through ongoing analysis and monitoring of results to ensure alignment to objectives. Communicates results with leadership, distribution and underwriting partners and collaborates to share product performance and perspective.
Reporting Relationships: Reports to Field Product Leader; 0-2 direct reports and no indirect reports.
Core Duties and Responsibilities:
Gathers information from multiple internal and external sources according to company guidelines, including competitor filings, in order to perform analysis. May require gathering verbal information from internal subject matter experts or partners and data through reports or other external published or non-published electronic means. Provides and applies context and understanding of information to anticipate the multiple variables and complexities needed to research. May coordinate project/product research through others.
Analyzes product performance and proactively identifies opportunities at state, line of business and agency level. Identifies and analyzes key product, performance and profitability drivers such as distribution, rate structure and rules performance to validate assumptions, identify adverse impacts, trends and solutions. Applies judgement, understanding and curiosity to data and provides the advanced level analysis considering multiple complexities to create fully developed solutions. Analyzes and reviews financial results, product profitability, business mix and competitive information and forecasts performance. May coordinate the analysis of others to include larger reviews.
Manages own schedule to complete work within established time and service standards. May manage timelines and coordinate completion of project work through others. Plans work to ensure rate review and other key processes are completed to ensure speed to market.
Develops comprehensive product strategy for the state(s) for overall profitability using rate reviews, pricing, risk appetite, placement, timing, etc. Determines how to apply and implement strategic decisions in alignment with market strategies (agents, tools, sales, etc.). Influences decisions with internal and external partners at all levels that impact national plan and geographic responsibility.
Develops detailed product plan to achieve long and short term financial objectives (1-3 years) for assigned state(s) and product(s) based on high level corporate objectives. Provides input into rate, loss, revenue, financial and other planning teams to influence regional and national strategy. Builds and implements communication plans to share key business changes. Initiates action plans to improve or maintain product performance. May be responsible for the management of associates including: performance management, salary planning and administration.
Consults with leadership and internal partners regarding analysis, ideas and business performance providing recommendations based on in-depth functional and regional knowledge. Supports partners through ongoing review and consultation on distribution and underwriting performance initiatives. Provides tools and analysis to build understanding of complex issues and focus attention on important concepts. Promotes collaboration among regional and staff partners to ensure alignment with the initiatives. Participates on committees as a SME and provides consulting to research and development, pricing and training to provide regional perspective and expertise.
Communicates information regarding products, pricing and organizational decisions to internal and external partners verbally and in writing. Translates complex data and strategic concepts into understandable communications to be shared with multiple audiences. Discerns the most relevant information and flexes style and message appropriate for the audience that instills confidence, conveys the strategic vision and influences actions. This is a key area with a significant volume of verbal and written communication done at multiple levels on a continuous basis.
Proactively builds and strengthens relationships with peers, internal and external partners to support completion of ongoing assignments. May participate in cross functional teams to complete projects or support the business. Provides strong leadership, is approachable, and instills trust at all levels.
Participates in training classes, department and company meetings. Pursues additional education to increase personal, professional and technical knowledge and skills. May assist trainers as a subject matter expert by providing content or delivering information to help educate regional underwriting and product partners. Mentor associates and provide education to others at all levels.
Oversees associate management including performance management, salary planning and administration, training and development, workflow and organization planning, day-to-day management, hiring and placement, and disciplinary actions for direct and possibly indirect reports.
Performs other duties as assigned.
Typical Skills and Experiences:
Education: Bachelor’s degree in insurance, actuarial science, mathematics, risk management, economics, finance, accounting, business administration or related field or MBA preferred.
License/Certification/Designation:Progress toward or completion of CPCU, AU CIC, INS ARM, Actuarial exams or similar designations preferred.
Experience: Eight years’ experience in underwriting or product preferred. Cross-functional experience from other areas and experience with data analysis preferred.
Knowledge, Abilities and Skills: Detailed knowledge of core business functions, and commercial lines insurance products and pricing architecture, state regulations, underwriting procedures and best practices. Working knowledge of financials, trend analysis and competitor data. Proficiency in analytical tools, relational databases, data visualization techniques, query-based language and/or statistical software experience preferred. Excellent verbal and written communication skills necessary to present information, communicate and influence internal and external partners at all levels. Must be skilled in the use of related systems and analytical tools. Ability to drive for results, deal with ambiguity, solve problems, learn on the fly, make quality decisions, see trends and patterns within data. Ability to manage projects, competing priorities, timelines and resources to complete work. Strong organizational agility and political savvy preferred.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.
Values:Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Overtime Eligibility:Exempt (Not Eligible)
Working Conditions: Normal office environment. Additional hours as required. Some overnight travel required.
ADA:The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Evaluation Activity: KP 9/2018
Additional Job Description
ADDITIONAL INFORMATION - PLEASE READ CAREFULLY
Compensation Grade: G3
A successful Product Manager at Nationwide has:
Self-direction and motivation in managing daily workflow
Understanding of insurance and risk management concepts
Effective communication skills
Ability to collaborate
Natural curiosity to explore and question
Excellent computer skills including Microsoft Excel and PowerPoint; SQL or Tableau is a plus
Undergraduate studies in business administration, insurance, actuarial science or related studies or graduate studies preferred
Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.
Job ID: 53662