VP, Product Management - Annuities

Why USAA?

At USAA, our mission is to empower our members to achieve financial security through highly competitive products, exceptional service and trusted advice. We seek to be the #1 choice for the military community and their families.

Embrace a fulfilling career at USAA, where our core values – honesty, integrity, loyalty and service – define how we treat each other and our members. Be part of what truly makes us special and impactful.

We are proud to support active-duty military spouses. USAA roles may offer remote or hybrid flexibility for active-duty military spouses consistent with applicable policy and business needs.

The Opportunity

The Vice President of Annuity Product Management provides executive oversight and strategic leadership for USAA's annuity product portfolio for both direct and third-party. This role defines the vision, strategy, and roadmap for innovative retirement income and wealth preservation solutions that help members and their families achieve long-term financial security. Leveraging technology, data, market insights, and member needs, the VP leads the development and optimization of annuity products and experiences that deliver guaranteed income, retirement confidence, and financial resilience. The VP is accountable for the end-to-end product lifecycle, including product strategy, development, pricing, positioning, operational execution, risk management, regulatory compliance, and ongoing performance optimization. This leader partners closely with internal stakeholders and external providers to ensure annuity offerings remain competitive, differentiated, and aligned with member needs while driving sustainable growth and profitability.

This role is remote eligible in the continental U.S. with frequent business travel. However, individuals residing within a 60-mile radius of a USAA office will be expected to work on-site 4 days per week.

What You'll Do:

• Leads the Annuities Product Management function, providing executive leadership across multiple disciplines and teams through senior leadership responsible for product strategy, product development, product management, business performance, and innovation initiatives.
• Establishes and executes the long-term strategic vision, product roadmap, and business strategy for the annuity portfolio, ensuring alignment with Association objectives, member retirement needs, and market opportunities.
• Exercises broad decision-making authority for the annuity portfolio, including strategic priorities, product direction, pricing strategy, investment prioritization, operating decisions, and product performance actions, with decisions having significant financial, operational, risk, and member impacts across multiple functions.
• Maintains accountability for the overall health and performance of the annuity portfolio by monitoring business outcomes, product performance, persistency, member satisfaction, profitability, and operational effectiveness.
• Represents the annuity business in senior executive and enterprise governance forums, influencing significant go/no-go decisions regarding product strategy, investments, product launches, risk acceptance, distribution strategy, and strategic partnerships.
• Oversees product governance, pricing strategy, product approvals, and ongoing monitoring to ensure products remain aligned with evolving regulatory requirements, Association standards, and market conditions.
• Assesses market trends, competitive dynamics, member insights, and emerging retirement income solutions to deepen product offerings, grow market share, improve member retention and satisfaction, and maximize profitability.
• Defines and manages the development, design, and ongoing enhancement of annuity products, services, capabilities, and sources of P&L, with a focus on delivering exceptional end-to-end member experiences.
• Leads the design and evolution of innovative retirement income solutions, including fixed, fixed indexed, immediate, deferred, and other guaranteed income products, ensuring competitive positioning and member value.
• Plans, prioritizes, and directs product development efforts related to new annuity products, product enhancements, research initiatives, market assessments, and strategic growth opportunities.
• Provides executive leadership across Actuary, Product, Member Insights, Marketing, Finance, Distribution, Sales, Risk Management, Legal, Compliance, Technology, and Operations to align and execute enterprise-wide annuity strategies that drive profitable growth and differentiated member value.
• Responsible for identifying, implementing, and managing industry-leading strategic capabilities that enhance annuity product management, distribution effectiveness, operational efficiency, risk management, and regulatory compliance.
• Leverages technology, analytics, data, and digital capabilities to inform opportunity assessments, improve product performance, enable personalized member experiences, and drive innovation throughout the annuity lifecycle.
• Identifies, manages, and resolves systemic cross-functional risks, issues, dependencies, and operational challenges impacting the annuity portfolio while maintaining strong governance and risk controls.
• Leads and manages organizational change initiatives related to product strategy, operating models, technology adoption, digital transformation, and process improvements within the annuity business.
• Builds and maintains strong relationships with external insurance carriers, distribution partners, technology providers, and third-party service organizations to ensure seamless product delivery and optimal member outcomes.
• Builds and oversees a high-performing organization through effective recruiting, talent development, coaching, succession planning, retention, performance management, and leadership development activities.
• Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with regulatory requirements, risk management frameworks, and compliance policies and procedures.

What You Have:

• Bachelor's degree required; OR 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
• 10 years of progressive experience in annuity and retirement income product management with increasing levels of leadership responsibility, including product strategy, product innovation, pricing, distribution, and business performance management.
• 8 years of people leadership experience building and developing high-performing teams.
• Demonstrated track record of developing and executing long-term product and business strategies, leading large-scale transformation, and managing significant P&L and financial performance accountability.
• Demonstrated success developing and executing product strategies that drive growth, profitability, market expansion, and exceptional customer/member experiences.
• Deep knowledge of annuity products, retirement income planning, insurance regulations, risk management, product governance, and distribution models with demonstrated experience balancing growth, profitability, member outcomes, regulatory requirements, and risk.
• Strong understanding of product management disciplines, pricing, actuarial concepts, digital transformation, analytics, and financial performance management.
• Proven ability to lead large, complex organizations and influence senior executives across cross-functional teams.
• Exceptional strategic thinking, communication, executive presence, and stakeholder management skills.
• Demonstrated experience establishing and managing partnerships with external carriers, manufacturers, distributors, and technology providers.
• Required active Life license.

What Sets You Apart:

• Deep annuity product expertise with a builder’s mindset, bringing demonstrated experience developing and launching innovative retirement income solutions and evolving a traditional product portfolio beyond core fixed, deferred, and income annuities.
• Comprehensive industry expertise and a deep understanding of the competitive landscape, leveraging market intelligence to shape long-term product strategy, differentiate offerings, and grow market share.
• Proven ability to translate ambitious growth objectives into product and distribution strategy, including expanding product breadth, developing channel and distributor specific products, and positioning an annuity business to materially grow premiums and market presence.
• Track record of accelerating product development and improving speed-to-market, bringing the discipline, cross-functional leadership, and operating rigor needed to move new products from concept through pricing, approval, implementation, and launch more efficiently.
• Strong portfolio and business management orientation, balancing stewardship of a significant in-force book with investment in future growth while maintaining a clear focus on quality of business, profitability, rates of return, member outcomes, and long-term portfolio performance.
• US military experience through military service or a military spouse/domestic partner.

Compensation range: The salary range for this position is: $224,250- $403,650.

USAA does not provide visa sponsorship for this role. Please do not apply for this role if at any time (now or in the future) you will need immigration support (i.e., H-1B, TN, STEM OPT Training Plans, etc.).

Compensation: USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market data of the position.

Employees may be eligible for pay incentives based on overall corporate and individual performance and at the discretion of the USAA Board of Directors.

The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.

Long Term Incentive Plan: Cash payment for Executive level roles only, representing a cash payment which is both time and performance based.

Benefits: At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

For more details on our outstanding benefits, visit our benefits page on USAAjobs.com.

Applications for this position are accepted on an ongoing basis, this posting will remain open until the position is filled. Thus, interested candidates are encouraged to apply the same day they view this posting.

USAA is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.