Product Development Director

Job Description

Job Purpose

The Product Development Director leads the strategic planning, development, and management of innovative life insurance products. This role emphasizes people management, requiring the leadership of a team of product development experts and senior experts. The director ensures alignment of product strategies with the company's objectives, oversees stakeholder collaboration, and maintains compliance with regulatory standards, particularly in coordination with Vietnam's Ministry of Finance.

Main Responsibilities

• Strategic Leadership

- Develop and implement a comprehensive product development strategy that aligns with the company's vision and market demands.

- Analyze market trends and competitor activities to identify opportunities for product innovation and differentiation.

• Team Management

- Lead, mentor, and manage a team of product development professionals, fostering a culture of creativity and high performance.

- Oversee the recruitment, training, and professional development of team members.

• Regulatory Compliance

- Ensure all products comply with local regulatory requirements, working closely with the Ministry of Finance in Vietnam.

- Stay abreast of regulatory changes and adjust product strategies accordingly.

• Stakeholder Engagement

- Collaborate with internal departments, including actuarial, legal, marketing, and sales, to ensure cohesive product development and implementation.

- Engage with external partners and regulatory bodies to facilitate product approvals and successful market entry.

• Product Lifecycle Management

- Oversee the entire product lifecycle, from ideation and development to launch and post-launch evaluation.

- Implement processes for continuous product improvement based on market feedback and performance metrics.

Job Requirement

Qualifications and Experience

• Education

- Bachelor's degree in Business Administration, Finance, Insurance, or a related field. A Master's degree is preferred.

• Experience

- Minimum of 10 years in life insurance product development, with at least 5 years in a leadership role.

- Proven experience working with Vietnam's Ministry of Finance on product approvals and regulatory compliance.

• Skills

- Strong leadership and people management skills, with the ability to inspire and guide a diverse team.

- In-depth knowledge of life insurance products and the regulatory environment in Vietnam.

- Excellent strategic thinking and problem-solving abilities.

- Exceptional communication and interpersonal skills, adept at managing stakeholder relationships.

- Proficiency in project management and the ability to oversee multiple projects simultaneously.

This role is pivotal in driving the company's product innovation and ensuring that offerings meet both market needs and regulatory standards, thereby securing a competitive position in the life insurance industry.