Schemes Product Manager
Here at Direct Line Group, we recognise the importance of flexibility, not only in our personal lives but also in the way we work. Our mixed model way of working offers a 'best of both worlds' approach combining the best parts of home and office-working, offering flexibility for everyone.
We’ve ditched the daily commute for a virtual first approach. If you do come into the office, there are exciting workspaces and zones you can use, depending on the type of work you are doing.
How much you’ll be in the office depends on your role, and we’ll consider the flexible working options that work best for you. Please get in touch with the team to discuss.
What We’re Looking For:
We have an exciting permanent full-time role for a Schemes Product Manager to lead the profitable development of the schemes account by maximising delivery of existing schemes and supporting the delivery of new scheme opportunities.
You will develop new and existing scheme products, service broker relationships and maintain agreed metrics to monitor the financial performance of each scheme. Good stakeholder management is essential for this role and you will produce PowerPoint presentations in response to scheme proposals and tenders received from the market and ensure all schemes comply with FCA regulatory requirements and Direct Line Group compliance.
This will be a hybrid role, working 2 days per week in the office.
What You’ll be Doing:
- Support the development and delivery of Scheme Strategy and Proposition.
- Scheme Account Management & Delivery:
- Understand the financial performance of each scheme and work with regions to deliver budgeted GWP and Profit.
- Review underperforming schemes. Remodel the P&L with the view to setting specific rating and loss mitigation actions to bring the scheme back into profit.
- Deliver scheme papers as required, for both individual external broker reviews and for NIG regional scheme presentations.
- Review new scheme propositions and assess which schemes are worth pursuing/supporting based on NIG’s agreed performance metrics and appetite.
- Seize opportunities, develop effective schemes pipeline and manage new schemes from concept through to delivery in conjunction with region and other stakeholders.
- Work with our colleagues in other support teams including Agency, Group legal, Sanctions and First/Second Lines of Defence.
- Market and Regional Profile: Lead the growth and profitability of schemes by growing great relationships with new and existing brokers
- Stakeholder Management: Develop effective working relationships with Stakeholders. Hold frequent progress calls/visits with each Region and conduct annual scheme reviews with brokers when due.
- Control and Governance: Ensure Underwriting Guides, Wordings, Scheme Agreements and other related documentation is up-to-date and compliant. Work with stakeholders to ensure that the control environment is satisfactory for all schemes within the port-folio.