Product Specialist I

Overview

Participates in the design, development, testing, implementation and subsequent maintenance of Lafayette Life's life insurance and annuity products on their administration and illustration system platforms. Coordinates with IT to write detailed requirements to ensure that calculations are accurately performed and kept with the intended and approved product design. Researches and solves product problems. Coordinates programming change request process and supports testing of revised code. This position is expected to be able to work independently and escalate issues appropriately.

Responsibilities

What you will do:

• Independently manages routine maintenance and smaller scale product projects as assigned.
• Supports new product projects through ideation and assessment by assisting in the development of detailed marketing requirements and determination of viable sales levels, product features, risk levels, and profitability.
• Participates in assigned product development execution projects by analyzing issues, recommending solutions, and providing product, illustration, procedural, and testing guidance to project team upon request.
• Assists in the assembly, analysis, and communication of industry and regulatory information on emerging products, services, illustrations and sales systems to be used in the product development process, business planning, and strategic analysis.
• Identifies and documents areas and opportunities for improvement. Coordinates problem resolution with Lafayette, Shared Services, and external personnel.
• Provides support for the development, maintenance and testing of administration systems, illustration systems, transition and rollout plans, product training and educational materials, and operational procedures in a timely manner.
• Participates in the logic and calculation testing of new product coding or updates to coding in both the illustration and administration systems.
• Properly escalates and researches items that arise out of any assigned project that require Lafayette Life signoff and relays those decisions to the project team.
• Liaises with shared services areas for production and operation support, including IT support, business technology, new business, internal wholesaling team, and policy services.
• Supports the testing of programming fixes using Enterprise testing methodologies, ensuring that the fixes are accurate and do not impact other programs already implemented.
• Conducts assigned periodic recurring reporting ensuring that each is delivered correctly and timely. Maintains documentation for all assigned periodic reporting work programs.
• Conducts quality assurance checks upon request, ensuring that product features and calculated values are correct and align with contract language and computation standards. Corrects errors, working with IT and policy services to communicate and, where appropriate, escalate issues.
• Performs other duties as assigned.
• Complies with all policies and standards.

Qualifications

• Bachelor's Degree In math, systems or other technical field or commensurate selection criteria experience. - Required
• Demonstrated product knowledge of life insurance and annuity products. - Required
• Actuarial experience and/or education. - Preferred
• Cites examples of self-motivation and experiences handling high volumes of work and deadlines with limited supervision. - Required
• Cites examples of working in teams to solve complex problems with multiple competing stakeholders. - Required
• Proven strong analytical skills, including demonstrated experience identifying and quantifying problems, and providing effective resolutions for corporate objectives and product issues. - Required
• Strong knowledge of life insurance and annuity sales and compliance systems. - Required
• Cites examples from work experience of grasping new methods and concepts, and determining creative and original solutions or problems. - Required
• Cites examples of using good judgment in dealing with multiple alternatives. - Required
• Demonstrated ability to effectively interact and communicate with peers in cross-functional teams. - Required
• Working knowledge in Excel, including experience with macros and formula features. - Required
• Familiarity with life and annuity administration systems. - Required
• Familiarity with life illustration software. - Required

Work Setting/Position Demands:

• Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
• Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
• Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
• Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
• Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
• Performs substantial movement of wrists, hands, and fingers for continuous computer work.
• Extended hours required during peak workloads or special projects/events.

Travel Requirements:

• None