Product Management Sr. Advisor - CIGNA - Hybrid

This is a HYBRID position that requires on-site presence at times in our Bloomfield, CT location.

Only local applicants will be considered.

POSITION SUMMARY

Our Corporate Owned Life Insurance (COLI) organization is looking for a Product Management Senior Advisor which will be responsible for overall custody account management and partnering with COLI’s external custodian across their internal teams to support the pricing and trading infrastructure needs and all investment related changes for COLI’s variable insurance clients.  Lead product development initiatives with technology vendor and internal process development and documentation.  Responsible for leading or supporting identified projects within COLI working with internal and external business partners.  May also provide technical/business support to Client Services team.

ESSENTIAL FUNCTIONS

Responsible for overall custody account management and partnering with COLI’s external custodian across their internal teams to support the pricing and trading infrastructure needs and all investment related changes for COLI’s variable insurance clients.  Lead product development initiatives with technology vendor and internal process development and documentation.  Responsible for leading or supporting identified projects within COLI working with internal and external business partners.  May also provide technical/business support to Client Services team.

Custodian Operations

Work with custodian to facilitate client transactions and investment platform updates including: reallocations, fund liquidations, new fund offerings, account openings, market entries, etc. and resolve any account/transaction issues identified within custody and administration platforms.

Support testing of infrastructure upgrades impacting COLI’s pricing and trading model, provide feedback and coordinate the implementation of changes to the platform if there is impact to the users in COLI.

Responsible for overall custody account management including:

• Facilitate opening and closing of new account offerings, on-boarding of new investment managers (sub-advised) and mutual funds, system access/connectivity.

• Work with custodian to facilitate asset transfers/liquidations, coordinate with investment managers on expectations, monitor transaction execution, resolve trade issues and reconcile accounts.

• Partner with Client Service team on trades with large impact to investment accounts (e.g., full liquidation of account, partial liquidation of co-mingled strategy, etc.). Determine and facilitate best approach for large dollar trades between strategies. Resolve NAV/AUV issues and overdrafts.

• Work with custodian to move assets from a sub-advised account to a new strategy or close a sub-advised strategy with full liquidation.  

• Determine steps necessary for custodian, cash movement, fund accounting, administration transaction processing, overdrafts and client reporting outcomes.

• Support nightly NAV and AUV pricing.  Provide direction on pricing issues and communicate the impacts to applicable internal/external parties.

• Daily monitoring of account balances, units, cash movements and initiate applicable corrective actions.

Product Management

Establish and maintain relationships with brokers, clients, vendors and other sources to gather competitive information and effectively position products in the marketplace.  Coordinate internal market update reviews and include market intelligence for consideration.  Manage the implementation process for new products or enhancements to existing products, including development of product specifications for illustration software and administration system. 

Work with management and actuarial team to price a new plan and respond to Requests for Proposals (RFPs).  Collaborate with administration and illustration system colleagues to execute new product designs and new client implementation.   

Projects

Responsible for leading or supporting identified projects within COLI, working with internal and external business partners.

Serves as a technical, procedural, or workflow resource on existing and new COLI/BOLI product initiatives. Translates changes to products or customer specific plan design/reporting into technical business requirements for system development as needed.

Support internal investment management infrastructure and/or vendor changes related to COLI.  Ensure all modifications continue to maintain the cohesive structure across custody, fund accounting, reporting and data feeds for accurate client and securities valuation.

QUALIFICATIONS

• Bachelor's degree required;