Product Manager - Income Solutions - Americas

| Chicago
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The Group: The Products group is the home of manufacturing and innovation at Morningstar. The individuals in this group transform our high-quality data, independent research, and technological expertise into well-designed products that delight our clients. The group's product management, product development, and service teams collaborate with our Client Solutions group to help provide clients with relevant products and bundled solutions.
The Role : The Advisor Client Experience (ACE) Products team seeks an enthusiastic, results-driven Product Manager to drive the commercial success of Morningstar's Income Solutions in the Americas, including Annuities and Structured Products (e.g. Income Protection, Buffered Notes, etc.). This role will closely collaborate with teams in data collection, quantitative analysis, Enterprise Components, and Advisor Workstation Americas commercial product management, respectively. The role collaborates with our product development, sales, marketing, and service teams. You will be a key player in defining and documenting priorities based on outside-in market problems. You will collaborate with marketing to launch new products, drive demand, generate leads, and influence sales pipeline for new prospects as well as existing clients. You will work closely with sales and service on contract negotiations for new and existing business as well as renewal risk forecasting.
Impact will be measured by new revenue growth, client retention, client satisfaction (NPS), increased sales pipeline and closed business conversion rates globally, shortened sales cycles, and market share growth over time. This role reports to the Sr Product Manager of Enterprise Components Americas and is a member of the commercial product team within Advisor Client Experience Software Products.
Responsibilities:
  • Act as both the Product Owner and Product Manager, which includes managing and grooming our development backlog based on highest business value, planning the quarterly program increments, documenting stories, and providing the development team with direction
  • Partner with sales to drive new revenue opportunities for seat and capability growth in new and existing clients.
  • Effectively liaise with Client Solutions Consultants, Support and other operations teams to maximize renewal rates, and implement price increase strategies.
  • Reduce churn, improve client satisfaction, and improve client engagement across top 150 enterprise clients in the U.S.
  • Lead and drive cadence on renewals with Sales and CSM team to proactively lower risk and improve accuracy of financial forecasts
  • Actively partner with marketing, sales, service and development on key go to market activities.
  • Lead on market problem refinement, definition, and commercial sizing to drive product build priorities for future annuity and income solutions on ACE platforms.
  • Conduct ongoing market surveillance to stay abreast of industry trends and how they create opportunities or threats to the Morningstar Annuity Intelligence business
  • Analyze and understand our clients' needs, the competitive landscape, and how we can match those needs to annuity and guaranteed income solutions.
  • Be part of the Advisor Client Experience (ACE) commercial product manager team to drive revenue growth for our income solutions in the Americas by collaborating and communicating the commercial strategy. Effectively engage with sales, client solutions consultants, marketing, global product teams, and senior management to execute on that strategy
  • Drive our renewal risk forecasting cycles to proactively take actions early with sales and service with timely risk forecasting.
  • Partner with Advisor Client Experience core product, delivery, and sales teams to ensure contracts and SOWs are aligned on pricing, scope and timing.
  • Evaluate potential demand and revenue impact of new solutions and assist in the prioritization of the Income Solutions development roadmap through effective capture of market and client. Create and evaluate the business case for new opportunities and capability expansion.
  • Support sales and operations teams in expanding the use of Income Solutions within existing accounts, leveraging Product Marketing, Product Roadmaps, and workflow analysis to drive expansion.

Qualifications:
  • Must be data-driven and understand how to translate metrics into opportunities for action.
  • Self-starter and passion for "doing the impossible;" committed to testing, learning, and iterating.
  • Previous experience partnering closely with sales teams to deliver sales enablement assets/training and having accountability for influencing sales pipeline development and participating in client engagements.
  • Knowledge of Morningstar products and workflows by various advisor segments such as banks, insurance broker dealers, independent broker dealers, hybrid RIAs, etc.
  • Strong communication and interpersonal skills, with the ability to articulate product positioning to a range of business users across our client segments
  • A minimum of two years of relevant work experience as an Associate Product Manager, or 3 years of work experience as a Project Manager
  • Ability to manage multiple, concurrent projects
  • Excellent presentation skills to all types of audiences, including executive leadership, clients, and partners.
  • Certifications and/or experience working in an Agile environment and using Jira, Tableau, Google Analytics, wikis, and Yammer, or similar.
  • Bachelor's degree in a related field

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Location

22 W. Washington , Chicago, IL 60602

An Insider's view of Morningstar

What does your typical day look like?

Every day is a little different. Our team is focused on POC (Proof of Concepts). My work involves problem-solving, development and software design. I work on the Data collections team, currently most of this involves, on a high level, automating the process currently used to collect data from raw sources through Machine Learning.

Upasna

Software Engineer, Data Collections - AI R&D

How does the company support your career growth?

We believe in promoting from within, based on previous impact to the team. Whenever possible, we will stretch our employees to take on expanded roles that aligns with the career progression they are interested in.

Jeff

Head of Technology and Product

What are Morningstar Perks + Benefits

Morningstar Benefits Overview

At Morningstar, your contributions have meaning and can drive change. Across our 27 offices worldwide, we’ve invested in fostering a community where talented, driven people can grow. Our entrepreneurial spirit and uncompromising ethics guide everything we do. It’s all in the name of empowering investors. Morningstar is proud to offer a comprehensive benefits package to eligible, full-time employees in the United States who work a minimum of 30 hours per week. Our benefits are designed to invest in your -- and your family's well-being, including investments in your health and financial future.

Culture
Volunteer in local community
Morningstar encourages our colleagues to become involved in their communities, by providing paid time off for volunteer activities.
Partners with Nonprofits
Friends outside of work
Eat lunch together
Intracompany committees
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Unconscious bias training
Morningstar encourages unconscious bias training for all employees, especially managers and hiring personal. We believe that by raising awareness of bias we can decrease its effects.
Diversity manifesto
Someone's primary function is managing the company’s diversity and inclusion initiatives
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Morningstar offers two Flexible Spending Accounts (FSA)— one for healthcare expenses and one for dependent care expenses. You may enroll in both $ determine the contribution amount.
Disability Insurance
Dental Benefits
Our dental plan covers 100% of preventive services, 80% of basic services, and 50% of major services.
Vision Benefits
With Morningstar's vision benefits you can get an annual eye exam with an in-network provider with just a $10 copay.
Health Insurance Benefits
Morningstar continues to offer the choice of two medical plans—the Savings Plan and the Classic Plan. Both are administered by Blue Cross and Blue Shield of Illinois (BCBS).
Life Insurance
Morningstar offers 4 tiers of life insurance that offer varying benefits. Basic Life insurance is equal to 1 times an employee's annual salary.
Wellness Programs
Mental Health Benefits
Our insurance covers 80% on in-network mental health services. Our Employee Assistance Program provides no-cost, confidential, 24-hour counseling on a wide variety of issues.
Retirement & Stock Options Benefits
401(K)
Take advantage of a number of Morningstar tools to help you manage your 401(k) account and your finances, including Morningstar Retirement Manager, available to you at no cost.
401(K) Matching
Morningstar provides employees with a 401(k) matching plan managed. We match $0.75 for every dollar contributed, up to a maximum of 7% of employee pay contributed to the plan each pay period.
Company Equity
Morningstar’s global employee equity benefit, Shared Ownership, enables you to take a portion of your bonus payout and exchange it for RSUs, with Morningstar providing an additional 50% match.
Employee Stock Purchase Plan
Colleagues who exceed their performance goals substantially may be eligible for Impact RSU Awards as an additional reward on top of their cash bonus/commission award.
Performance Bonus
Match charitable contributions
Morningstar's Matching GIfts program will match your charitable giving up to the local currency equivalent of $500 USD per calendar year.
Child Care & Parental Leave Benefits
Child Care Benefits
Morningstar offers the option of in-home child and elder care, in addition to the existing day care center back-up care benefit.
Generous Parental Leave
Morningstar has a global minimum of 6 weeks paid time-off to bond with new family members. This benefit applies to all individuals equally, including birth mothers, fathers, adoptive parents.
Flexible Work Schedule
Morningstar provides employees with a flexible work schedule that includes Summer hours, Work from home, Flexible start and end times.
Remote Work Program
The safety of our employees is very important to us. We have been operating remotely due to COVID-19.
Family Medical Leave
Eligible employees may take up to 12 weeks of job-protected, unpaid leave per year for certain specified reasons, and up to a total of 26 workweeks of leave to care for a family member.
Adoption Assistance
We reimburse up to 80% for eligible adoption expenses, up to $4,000 per adoption, in addition to a minimum of 6 weeks paid time off.
Return-to-work program post parental leave
Company sponsored family events
Morningstar sponsors family oriented events Annually.
Vacation & Time Off Benefits
Unlimited Vacation Policy
Generous PTO
Paid Volunteer Time
Our employees receive 2 days per year of paid volunteer time.
Sabbatical
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
Company Outings
Some Meals Provided
Happy Hours
Parking
Recreational Clubs
Fitness Subsidies
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Continuing Education stipend
Time allotted for learning
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

Compensation at Morningstar is more than a salary. It’s about making positive contributions to both life and work. We give our diverse workforce the choice and flexibility they need to maintain their health, retirement plans, time, and professional growth.

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