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VP, Defined Benefit Product Lead | Prudential | Hartford, CT
The Defined Benefit Product Lead will have ultimate accountability for Prudential Retirement's Full-Service Defined Benefit business, including direct oversight of earnings, net asset flows, cost structure, value proposition, distribution strategy and pricing policy. This position reports to the SVP, Retirement Strategies & Solutions. The responsibilities for this role include: - Develop and drive the strategic and operational business plans for the Defined Benefit team, consistent with the strategic intent of the business, and organizing periodic reviews with senior management.
- Manage the Defined Benefit financial levers to ensure profitability and competitiveness.
- Set standard pricing terms and principles and define the budget for each product within the Full-Service Defined Benefit portfolio.
- Select, negotiate and manage all external alliance providers' fees and terms. Will also be charged with hiring and overseeing a trust and custody provider.
- Represents the company in its relationships with complex clients, government agencies, suppliers, external intermediaries, competitors and the media.
- Remediate the current book of business through the definition of appropriate service models, pricing policies and marketing positioning.
- Champion innovation and continuous improvement within the Defined Benefit business team, providing feedback to members and facilitating ongoing effectiveness assessments.
Prudential and its affiliates, Newark, New Jersey are Equal Opportunity/Affirmative Action Employers and are committed to diversity in our workforce.
The ideal candidate will possess the following skills and credentials: - 15+ years of business management experience within the financial services industry, including P&L oversight and a proven track record of competitively superior results.
- BA required, MBA or equivalent business experience preferred.
- FINRA series 6 or 7 required.
- Strong knowledge of trust and custody capabilities for Defined Benefit plans, along with in-depth understanding of the operational aspects of such plans.
- While not required, a pension actuarial background will be seen as a significant advantage.
- Broad retirement industry knowledge and expertise, including a firm understanding of the regulatory and legislative landscape.
- Product ideation, development and management experience.
- Investment management knowledge.
- Strong communication skills.
- Organizational awareness.
- Strong leadership skills, including:
- Demonstrates a strong moral compass
- Establishes a clear vision and strategy
- Has a talent mindset
- Focuses externally
- Takes intelligent risks
- Collaborates to seize opportunities
- Transforms strategy into action
Any applicant selected for this position will be required to submit to an extensive background screening and a credit check. Failure to comply will eliminate an applicant from consideration for this position. Any negative information obtained as a result of the background screening may result in the disqualification of the applicant from this and any other position in Prudential, including their current position if they are an internal applicant.

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