David Nix Email & Phone Number

Waltham, Massachusetts, United States

Responsible for Fixed Annuity Strategy and Product Development. Design, develop, and implement lifetime income solutions to ensure financial security to and through retirement.Developed 360 feedback loop with Sales and Distribution partners to help them position our products against competitors and ensure that product development was in line with the evolving lifetime income needs of our clients.Partnered with Pricing Actuaries during the product development process to help design products that were priced appropriately to be supportable but still appealing to the market. Monitored Competitor products and rates and provided summaries to Leadership reflecting key features of new products, enhancements to existing products, and rate changes.

Waltham, Ma

Responsible for analyzing, developing, and implementing sales and product concepts for the Life Insurance Organization. Serve as liaison between the Marketing and Product organizations to ensure that new products are developed that are profitable and appealing to the market.Negotiate and manage contracts with external vendors and distribution partners.Support Operations areas by providing guidance related to complicated regulatory, tax, and Compliance rules.

Led a business unit of 20 professionals responsible for all Financial, Compliance, Operational, Systems, and Case Management functions related to Corporate Owned Life Insurance (COLI), Bank Owned Life Insurance (BOLI), and High Net Worth Private Placement business with $9B in Assets under Management.Oversaw the day-to-day Operations, including Client Services, Accounting and Financial Reporting, Compliance, Investments, and Vendor Management.Achieved record growth of 46% by policy count and 79% in Cash Value during this period Increased Business Unit ROE by 200 basis points by negotiating and maintaining cost effective business partnerships internally and externally. Included negotiation of pricing and Service Level agreements with new arrangements and monitoring of existing relationships with regard to performance and cost. Developed Strategic Plan to ensure Operational and Client support for previously underperforming product with sales goal of $75M in premium. Sales goal was exceeded by 33% post implementation. Designed workflow modifications that allowed seamless integration of new product management while fully supporting existing $9B block of business.Mediated redefinition of Participation Agreements to mitigate risk while allowing reasonable rates of return for clients.

Corporate Markets Developed and maintained relationships with key producers generating annual product sales in excess of $240 Million, including eight successive record-breaking sales quarters for Corporate MarketsExceeded sales goal targets each quarter for COLI and BOLI DistributionDeveloped and redesigned product promotion and launch materials to successfully market all new and existing products.Formulated new illustration reporting methodology to facilitate and streamline case issuance process. Increased time from client acceptance to case issuance by 20%.Created educational materials and training seminars for Distribution partners related to Community Bank Private Placement productProvided on-site field training and support for COLI and BOLI products and the illustration system.

Corporate MarketsCreated and managed independent accounting unit for Corporate Markets, responsible for all Statutory and Regulatory Financial reporting as well as building accounting and cash flow structures tailored for COLI and BOLI casesDevised appropriate accounting for unique policy features, including Experience Rated Refunds, surrenders with Cash Value Enhancements, and Intercompany ReinsuranceCreated account reconciliation process that the brought reconciled account percentage to over 99%Streamlined commission system to improve payment turnaround time to next day for premium commission and within two weeks of quarter end for asset based commissionsCollaborated with Internal and External auditors, State Regulators, OSFI, and the IRS on all financial inquiries related to Corporate Markets activity

Constructed and launched Operations and Customer Service Departments for the newly created Individual Insurance Variable Universal Life productDesigned and refined a trade and reporting system for the daily cash flow activity. Created workflows and provided training to staff on all aspects of the business, from Accounting to Investments to Variable Life products.Developed and enhanced Distribution relationships and provided product training for Distribution partners

Restructured and Managed Individual Insurance Division Tax department Improved Department productivity performance from 40% to 98% according to Corporate Standards within the first six months Increased accuracy to 99% eliminating rework and improving the overall quality of the Service provided.Facilitated development of automated process for creation, monitoring, and distribution of appropriate year-end tax forms preventing filing fees and penalties from the IRS.

Bachelor'S Degree, Business Administration, Management And Operations

Bachelor'S Degree, English