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Assistant Vice President- Annuity & Insurance Product Mgmt
Morgan Stanley
New York, NY, United States
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Description
Position Summary:
Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities Group (ISG), Wealth Management, and Investment Management (MSIM). MS’s network includes more than 15,000 financial representatives (“Financial Advisors” or “FAs”) and client assets of approximately $2.3 trillion as of October 31st, 2017.
Morgan Stanley Wealth Management’s Annuity & Insurance Services [AIS] Associate Product Manager’s [APM] responsibility will be to support the AIS team in the product due diligence processes, as well as assist in the business development of AIS product and platform initiatives. The APM will function as an additional contact to many of our key stakeholders including insurance carrier partners, Platform, Technology and Risk partners.
Success to the role will be consistent to that of the broader organization which includes expanding penetration across FA/client population while executing on initiatives designed to truncate the sales process and ultimately lower asset acquisition fees. Currently, Annuities & Insurance Group is executing on a strategy that seeks to invest in department infrastructure, broaden insured solutions across both brokerage and advisory platforms and diversify our product mix beyond general-account backed solutions. The effect will include the broadening of products to a larger dispersion of FA’s/clients and improving our partner firm’s ROI on writing business at Morgan Stanley vs. our peer group.
Responsibilities:
1. Due Diligence Product Management:
1. Support the AIS due diligence process and prepare product recommendations for delivery to senior management and/or the Global Products Committee. Provide technical subject matter expertise, case design and analysis/rationale behind each recommendation.
2. Team with Legal, Compliance, Finance, Marketing and National Operations to ensure product offering complies with Firm and industry standards.
3. Assist in managing and prioritizing product distribution in coordination with operations and sales organizations
4. Partner with insurance carriers to package and support the distribution of annuity and insurance solutions
2. Sales & Marketing Campaign Management:
1. Manage the annuity and insurance marketing material review process
2. Coordinate Sales & Marketing campaigns alongside internal and external partners
3. Prepare and deliver PowerPoint presentations to executive and sales management.
4. Update disclosure documents for new business opportunities and alignment with current regulatory framework.
3. Support Competitive Intelligence Activities
1. Leverage industry intelligence [i.e. industry metrics and trending economic variables] in becoming an industry/product expert and providing strategic insight on growth opportunities.
2. Identify carrier capabilities that can be leveraged cross product activities and/or strategies
3. Provide feedback to Platform Management team on new initiatives and opportunities
Qualifications
Experience
• Minimum of 3 years of experience at wealth management firm, insurance company, private/commercial bank.
• Functional experience in annuities and insurances sales/product management, project management, sales, strategy, marketing, communications, data analytics/metrics.
• B.A. degree required. MBA preferred.
• Expected to maintain or complete Life Insurance and Series 7 within 6 months of position enrollment.
Skills/Abilities
• Strong Annuity/Insurance product knowledge preferred.
• Proven people and project management skills.
• Demonstrate positive initiative and comfort working in a fast paced environment.
• Possess excellent oral and written communication skills. Exceptional presentation skills. Ability to communicate product and sales strategies effectively to Senior Management, product areas and sales teams.
• Strong interpersonal collaboration and team skills including working with cross-functional teams.
• Strong analytical skills, performance and metrics tracking.