• Senior Director and Actuary, Product Management - Retirement Plans

    Location US-OR-Portland
    Posted Date 1 month ago(1/7/2019 8:32 PM)
    # Positions
    Req #
  • Overview

    If you want to make a positive difference and stand out from the crowd, you’ll fit in at The Standard (www.standard.com). The Standard is a leading provider of financial products and services. These include group and individual disability insurance, group life and accidental death and dismemberment insurance, group dental and group vision insurance, absence management services, retirement plans products and services, individual annuities, and origination and servicing of fixed-rate commercial mortgage loans.


    In this highly visible role as Director or Senior Director of Product Management in the Retirement Plans Actuarial team, you’ll have direct responsibility for the growth and management of the company’s proprietary Stable Asset Fund, as well as expansion of the institutional product suite.   This is a high focus area for the Company and you’ll be able to take ownership and build something that is considered to be an area of significant potential growth for our Retirement Plan business. You’ll put your strategic thinking to work as you develop a strategy and approach to meet our growth objectives. You’ll partner with other groups (Legal, Retirement Plan Services, Corporate Actuarial, etc.) to ensure the development of a strong fund strategy and operations.


    You’ll report to the Retirement Plans Actuary.  You’ll initially lead a small team of two direct reports as well as a shared modeling resource, however you’ll coordinate the work of stakeholders across several functions in the Retirement Plans business unit.


    • Assess opportunities to help drive strategies for fund growth.
    • Manage product development process from end-to-end in partnership with key stakeholders across the organization. This includes intake and prioritization of new ideas, risk and financial analysis, contract and regulatory filings, pricing, application of accounting standards, implementation of operations and management reporting, as well as product roll-out and sales support.
    • Monitor profitability and risk profile of the existing block of business and make strategic recommendations for pricing changes or other actions as needed.
    • Work with investment actuaries to ensure ALM strategy is appropriate for strategic goals.
    • Develop and monitor adherence to underwriting criteria for new and existing business.
    • Manage underwriting analysis on large cases and make recommendations to internal stakeholders, including the RP Actuary and Corporate Actuary, about acceptance of large cases.
    • Provide guidance in the development of contracts and work with prospective investors to understand contract language and limitations Negotiate contract terms within the risk preferences of the organization.
    • Enhance/develop the current intake process for channeling, evaluating and vetting new ideas pertaining to the fund.
    • Manage day to day actuarial operations related to the fund, e.g Market Value Adjustment calculation, reporting, etc. Ensure operational capabilities are built out where needed as product development evolves. of ensuring.
    • As appropriate, you may provide leadership for new technology and or other projects that support the product.
    • Lead a small team in support of this area.
    • Develop and implement improved actuarial procedures; provide actuarial advice and consultation to key partners on matters relating to all relevant products.
    • Provide leadership and coaching to existing staff as well as attract, retain, and develop new talent to the organization as The Standard increases bench-strength and talent throughout the organization.
    • Promote effective and agile risk governance



    • Strong competency in risk analysis and assessment via modelling and valuation.
    • Three or more years of experience in and a track record of successfully putting new or adjacent products into the new and existing markets.
    • Bachelor’s degree required. Advanced degree a plus.
    • Fellow of the Society of Actuaries {FSA}, with additional financial or risk management credentials a plus (e.g., CFA, PRM, CRM, CERA, etc.).


    • Experience with institutional products and understanding of Defined Contribution, Defined Benefit plans and ERISA principles desired.
    • Prior experience working within an insurance company preferred.
    • Experience and interest in leading others highly desired.


    Competencies You Possess:


    • Transparent and consistent with high personal impact, leading with respect and managerial courage easily establishing yourself as a trusted business partner.
    • Driven to win: Pro-active and self-motivated, inspiring enthusiasm about the business and engaging others to create a positive culture with high morale and strong performance with a focus on excellence and continuous improvement.
    • Effective communication skills that instill confidence with internal and external audiences and ability to translate complex concepts into meaningful actionable information.
    • Demonstrated strong consultative and influencing skills and are resourceful to build effective partnerships/coalitions across all areas of the organization with colleagues at all levels, including executive leadership.
    • Low-ego, team-oriented, collaborative approach
    • Make informed decisions through strong analytical, conceptual and critical thinking skills with a solutions-oriented mindset; and willingness and ability to handle opposing perspectives and gain consensus.
    • Able to work effectively through complex problems with the ability to assess gaps and opportunities to inform strategy and to prioritize initiatives and action plans.
    • Excellent project management and organizational skills with strong attention to detail and ability to prioritize and work on multiple projects simultaneously.


    The Standard Culture


    You’ll find the environment provides complex intellectual challenges as well as excitement as you share in the success of the company’s forward moving plans. The Standard fosters innovation, builds collaboration, and pursues excellence.  You’ll experience an open and welcoming environment with authentic people who are thoughtful and intentional with high integrity.  You’ll find a very collaborative approach when it comes to planning and decision making.  You’ll have the independence to achieve results within the framework of the values and culture of the organization. In a culture that places high value on continuous improvement and possibilities, your ideas and insights regarding creative and innovative approaches are expected and encouraged.



    Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Affirmative Action/Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender, sexual orientation, age, disability, or veteran status or any other condition protected by federal, state or local law. The Standard offers a drug and alcohol free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on Standard property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation, drug test, employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.


    For more information regarding your Equal Employment Opportunity applicant rights, click  here.


    Individuals with disabilities who need assistance or accommodation with the application process should contact HR Direct at 971-321-7871.  This number is only for the use of individuals with disabilities who need accommodation with the application process.  General inquiries about application status will not be addressed.


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