Job Specifications
Career Opportunity
Role Title
Product Analyst
Purpose of role
The Product Analyst supports product development (new product and existing products) for US and Canadian products by analyzing, developing, designing, solutioning and supporting the product management function. The product analyst develops, maintains, implements and manages product specifications, rules, rates and training for new and existing products, enhancements and related functions including projects and day to day operations. This is a Hybrid position and requires a minimum of two (2) days a week in the office.
Job Description
Key Responsibilities
Research, draft and refine insurance contracts and regulatory forms, including applications, to ensure compliance, clarity and consistency with product plan design and regulatory requirements
Use product and regulatory knowledge to support regulatory filings and approval functions including review of filings, objections and interpretation of regulatory requirements. This includes seeking opinions/assistance from several levels of management, business, legal and/or peers
Support product initiatives and enhancements by evaluating and applying industry and Foresters specific knowledge and industry best practices within the Product Development life cycle
Use product, regulatory and process knowledge to support projects, enhancements, day to day operations, inquiries related to product rules and process and improving processes and procedures, while ensuring product integrity and regulatory compliance are met
Participate in various stages of quality assurance testing of the product rules including review of test criteria, contract content and data validation, processes and system changes
Collaborate with key stakeholders, subject matter experts and project team members in defining functional, and business process improvements and providing recommendations to allow key stakeholders to make sound decisions
Key Qualifications & Skills
Education (minimum required): University degree or college diploma
LOMA designation or other industry accreditation
Paralegal background an asset
Experience (minimum required): 5-10 years' experience in operations, actuarial, product, or business analysis roles
Strong life insurance background and technical writing or legal background an asset
Attention to detail and strong analytical, writing, and communication skills are essential
Knowledge of US and/or Canadian life insurance and annuity products and regulations. A broad understanding of Foresters products, functions and systems are an asset
Functional knowledge of the product development life cycle (such as product concepts/definition, planning, estimating, requirement gathering, analysis and testing) from plan conception to product launch and post launch
Strong knowledge of building and maintaining products on the administration system, including contracts, calculations, product rules and rate structures
Ability to multi-task and prioritize to meet deadlines in a demanding, fast-paced environment
Excellent facilitation and interpersonal skills with the ability to work independently
Commitment to a strong culture of ethics, compliance and risk identification and management
Willingness to learn new concepts and technologies, adapt to changes and demands as it relates to product design, development and implementation
Ability to assess impacts on business processes and product development/management processes
requires minimum two (2) days a week onsite.
Equal Opportunity Employment and Inclusion – at Foresters Financial, we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion, Diversity and Equity (IDE) as a core strategic objective for building strong, innovative teams in which all our employees can show up wholly and authentically as themselves.
Foresters Financial strives to provide an accessible candidate experience for prospective employees with different abilities. If you anticipate needing any type of accommodations during the recruitment process, please email accommodations@foresters.com in advance of your appointment.
Thank you for choosing Foresters. Only those candidates who will be selected for further consideration will be contacted by our Talent Acquisition Team.
About the Company
Foresters Financial is redefining the life insurance and individual savings industry across the U.S., Canada and UK by enriching the lives, communities, and overall well-being of its members. Agents and members alike appreciate the turnkey-decisioned product offerings and end-to-end digitized processes that make it easy to get life insurance without traditional medical exams. State-of-the-art mobile tools help agents deliver tailored plans to prospective and current members. Dedicated to its members' well-being, Foresters of...
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