Director I, Banca Product Strategy & Planning

📍 Job Overview

Job Title: Director I, Banca Product Strategy & Planning

Company: AIA

Location: Shanghai, China

Job Type: FULL_TIME

Category: Revenue Operations / Product Strategy

Date Posted: 2026-06-24

Experience Level: 10+ years

🚀 Role Summary

• Spearhead the development and execution of innovative bancassurance product strategies to enhance product competitiveness and market share within the channel.

• Conduct in-depth market research and collaborate with banking partners to identify customer needs, market trends, and competitive landscapes.

• Lead the end-to-end product lifecycle, from conceptualization and design to pricing, implementation, and performance optimization.

• Drive the growth and value creation of AIA's bancassurance business by aligning product offerings with overall business objectives and regulatory requirements.

📝 Enhancement Note: This role is positioned as a strategic leadership function within AIA's bancassurance division. The focus on "Product Strategy & Planning" indicates a requirement for deep market insight, competitive analysis, and the ability to translate these findings into actionable product roadmaps that drive revenue and market share. The title "Director I" suggests a senior individual contributor or a team lead role with significant autonomy and responsibility for strategic initiatives.

📈 Primary Responsibilities

• Market and Channel Research: Systematically research partner banks' business strategies, customer profiles, wealth management needs, product preferences, sales processes, and compliance requirements to build and maintain deep relationships.

• Frontline Engagement: Conduct regular in-depth research within the banking channel through interviews, observations, and surveys to understand the real needs, pain points, customer feedback, and market dynamics of frontline sales personnel, ensuring product design is grounded in frontline realities.

• Competitive & Market Analysis: Continuously track and analyze the bancassurance product strategies, pricing, sales performance, and innovation trends of major competitors, integrating macroeconomic shifts, regulatory policies, and consumer behavior changes to identify opportunities and threats, and to design and implement responsive strategies and solutions.

• Product Strategy Planning: Lead the formulation of annual/medium-term bancassurance product strategy blueprints, defining product positioning, customer segmentation, core value propositions, and competitive advantages based on research and analysis results.

• Product Solution Design: Develop customized value proposition solutions for different bancassurance channel partners; lead new product concept ideation, feature design, policy wording, and pricing strategies, ensuring designs comply with regulations, meet banking channel sales logic and customer needs, and possess strong market competitiveness and sales drive.

• Strategy Implementation: Drive the translation of strategies into specific product design proposals and participate in the preparation of product filing materials.

• Performance Tracking & Optimization: Monitor the sales performance, customer feedback, and market response of bancassurance products post-launch, evaluating strategy effectiveness; conduct regular sales retrospective analysis to monitor key metrics such as premium volume, average premium per policy, channel performance, customer profiles, and lapse rates.

• Strategy Iteration: Dynamically adjust product strategies based on retrospective analysis, propose recommendations for product improvements, upgrades, or adjustments, and drive implementation to establish a closed-loop management system of "design-launch-feedback-optimization."

• Team Building & System Development: Establish and refine a dedicated product management system, workflow, and standardized documentation for the bancassurance channel to enhance team operational efficiency and professional standards.

• Team Capability Enhancement: Elevate the overall capabilities of the bancassurance product team, including product strategy planning, product design, development, and driving initiatives.

📝 Enhancement Note: The responsibilities highlight a strong emphasis on data-driven strategy and continuous improvement. The expectation to "establish and refine a dedicated product management system" and "enhance the overall capabilities of the bancassurance product team" indicates a leadership component that involves process design and team development, crucial for operational efficiency in product management.

🎓 Skills & Qualifications

Education:

• Bachelor's degree or above in Finance, Insurance, Economics, Management, Statistics, or a related field is preferred. Experience:

• Over 10 years of experience in the insurance industry, with at least 8 years focused on product management or actuarial science.

• Extensive experience in bancassurance channel product design, development, or management, with a deep understanding of bancassurance channel operations, sales logic, and customer needs.

• Proven track record of successfully leading from-scratch bancassurance new product development projects that achieved scaled sales is highly preferred. Required Skills:

• Proficiency in insurance product design principles, pricing logic, regulatory frameworks, and compliance requirements.

• Strong market research, data analysis, and business insight capabilities, with proficiency in using data analysis tools such as SQL, Excel, and Business Intelligence (BI) tools for in-depth analysis.

• Familiarity with the characteristics of mainstream bancassurance products, including life insurance, annuities, and health insurance.

• Excellent project management skills, with the ability to effectively manage complex, multi-threaded, cross-departmental projects. Preferred Skills:

• Strategic thinking and business acumen: Ability to distill trends from fragmented information and anticipate market opportunities.

• Exceptional communication and influencing skills: Capable of efficient communication with bank executives, frontline sales staff, and internal functional departments; adept at coordinating multiple stakeholders and facilitating consensus. Strong persuasive and cross-departmental driving abilities.

• Results-oriented and resilient: Maintain strategic focus under multi-party pressure and maintain high efficiency in a fast-paced, high-pressure environment.

• Innovative thinking: Sensitive to market changes and able to proactively propose innovative product solutions.

• Non-hierarchical leadership: Skill in motivating and developing cross-departmental collaborators.

📝 Enhancement Note: The requirement for 8+ years specifically in product management or actuarial science within the 10+ years of insurance experience, coupled with deep bancassurance channel expertise, signifies a highly specialized and senior role. The emphasis on "non-hierarchical leadership" and "influencing skills" suggests that the candidate will need to drive change and achieve outcomes without direct authority over all involved parties, a common characteristic of strategic GTM and product roles.

📊 Process & Systems Portfolio Requirements

Portfolio Essentials:

• Demonstrate a portfolio showcasing successful bancassurance product development lifecycle management, from initial concept to market launch and post-launch optimization.

• Provide case studies detailing market research methodologies, competitive analysis frameworks, and how insights were translated into product features and value propositions.

• Include examples of product designs, pricing models, and policy wordings developed, highlighting adherence to regulatory compliance and market competitiveness.

• Showcase quantitative results of product performance, including premium volume, sales growth, market share impact, and customer satisfaction metrics achieved through product strategy. Process Documentation:

• Exhibit a clear understanding of product development workflows within the insurance and bancassurance context, including stage-gate processes, risk assessment, and regulatory approval steps.

• Present examples of how product strategies were translated into detailed product specifications, operational guidelines, and sales enablement materials.

• Document the process of monitoring product performance, collecting feedback, and implementing iterative improvements to product offerings and strategies.

📝 Enhancement Note: For a Director-level product strategy role, a portfolio is crucial. It should not just list products but demonstrate the strategic thinking, analytical rigor, and execution capabilities behind them. Emphasis should be on the process of strategy development and product lifecycle management, supported by quantifiable results and a clear understanding of the bancassurance ecosystem.

💵 Compensation & Benefits

Salary Range:

• Based on industry research for Director-level Product Strategy roles in Shanghai, China, with over 10 years of experience in the insurance sector, the estimated annual salary range is likely between ¥800,000 to ¥1,500,000 CNY. This range accounts for the seniority, specialized knowledge in bancassurance, and strategic impact expected from this position. Benefits:

• Comprehensive medical insurance coverage, including health, dental, and vision.

• Generous annual leave and paid time off, potentially including additional days for long service.

• Performance-based bonuses and incentives tied to individual, team, and company achievements.

• Retirement savings plans, such as a company-matched provident fund or pension scheme.

• Opportunities for professional development, including training programs, certifications, and attendance at industry conferences.

• Potential for stock options or long-term incentive plans, depending on company policy for Director-level roles. Working Hours:

• Standard full-time engagement, typically 40 hours per week, with potential for extended hours during critical project phases or market initiatives. Flexibility may be offered based on project needs and team agreements.

📝 Enhancement Note: Salary estimation is based on publicly available compensation data for senior finance and product management roles in multinational corporations within Shanghai. Benefits are typical for senior positions in large financial institutions, emphasizing comprehensive coverage and performance-driven rewards.

🎯 Team & Company Context

🏢 Company Culture

Industry: Financial Services - Insurance. AIA is a leading pan-Asian life insurance group, operating in a highly regulated and competitive market. The bancassurance channel is a critical distribution segment, requiring strong partnerships with financial institutions.

Company Size: AIA is a large, multinational corporation with tens of thousands of employees globally, indicating a structured environment with established processes and significant resources.

Founded: AIA was founded in 1919, signifying a long-standing history and deep-rooted expertise in the insurance industry.

Team Structure:

• The role likely sits within a dedicated Bancassurance Product Strategy & Planning team, which may be part of a broader Product Development or Business Development division.

• Reporting likely to a senior executive such as Head of Bancassurance, Chief Product Officer, or Head of Strategy.

• Close collaboration expected with Bancassurance sales teams, actuarial departments, risk and compliance, marketing, and IT, as well as external teams at partner banks. Methodology:

• Data-Driven Strategy: Emphasis on using market research, customer data, and performance analytics to inform product strategy and design decisions.

• Collaborative Product Development: A structured approach to product lifecycle management involving cross-functional teams and external partners to ensure alignment and successful execution.

• Agile Adaptation: While a Director role implies strategic planning, the need for "iterative optimization" suggests an agile mindset to adapt to market changes and performance feedback.

Company Website: https://www.aia.com/

📝 Enhancement Note: AIA's established presence and scale suggest a professional environment with robust operational frameworks. The specific focus on bancassurance implies a need for candidates who can navigate complex partnerships and understand the unique dynamics of this distribution channel within the broader insurance landscape.

📈 Career & Growth Analysis

Operations Career Level: Director I, a senior individual contributor or emerging leader role focused on strategic product planning for a critical revenue channel. This level requires deep domain expertise and the ability to influence strategic direction.

Reporting Structure: Likely reports to a VP or Head of Bancassurance or Product, with significant exposure to senior leadership and key banking partners.

Operations Impact: This role directly impacts revenue generation and market share within the bancassurance channel by shaping product offerings that meet market demands and drive sales performance. Strategic product decisions influence profitability and long-term competitive positioning.

Growth Opportunities:

• Leadership Advancement: Potential to advance to Head of Bancassurance Product Strategy, Chief Product Officer, or similar senior leadership roles within AIA.

• Cross-Functional Expertise: Opportunity to broaden experience across different insurance product lines, distribution channels, or strategic initiatives within AIA.

• Industry Influence: Develop expertise and recognition within the bancassurance and insurance product development sectors, potentially leading to industry speaking engagements or advisory roles.

📝 Enhancement Note: The "Director I" title indicates a significant level of responsibility. Career progression would involve expanding influence, managing larger teams or more complex product portfolios, and taking on broader strategic responsibilities within AIA or the financial services industry.

🌐 Work Environment

Office Type: This role is based in Shanghai, China, at an AIA office. It is likely a modern, professional corporate office environment.

Office Location(s): The provided location is "0986NH01 上海友邦金融中心," which translates to AIA Financial Centre, Shanghai. This suggests a central business district location.

Workspace Context:

• The workspace is expected to be collaborative, requiring frequent interaction with internal teams (product, sales, actuarial, compliance) and external partners (bank representatives).

• Access to standard corporate office technology, including robust IT infrastructure, communication tools, and potentially specialized analytics software.

• Opportunities for informal and formal interactions with colleagues across various departments, fostering knowledge sharing and cross-functional understanding. Work Schedule:

• Standard professional work hours, with an expectation of flexibility to meet project deadlines, attend partner meetings, and manage urgent market developments. This role demands a commitment to achieving strategic objectives, which may require working beyond typical hours.

📝 Enhancement Note: As a Director-level position in a major financial hub like Shanghai, the work environment will likely be professional, demanding, and collaborative, with strong emphasis on performance and stakeholder engagement.

📄 Application & Portfolio Review Process

Interview Process:

• Initial Screening: HR or Recruiter will review applications to assess alignment with minimum experience and qualifications.

• Hiring Manager Interview: Focus on assessing strategic thinking, bancassurance product expertise, and leadership capabilities. Expect questions about past product successes and strategic approaches.

• Panel Interviews: May involve interviews with senior leaders from Product, Bancassurance, and potentially Actuarial or Sales. Focus on cross-functional collaboration, stakeholder management, and problem-solving.

• Case Study/Presentation: Candidates may be asked to prepare and present a strategic analysis of a market scenario or a proposed product strategy, demonstrating analytical skills and communication impact. This is a critical opportunity to showcase portfolio elements.

• Final Round: Discussions with senior executive leadership to assess cultural fit, long-term vision, and overall suitability for the Director I role.

Portfolio Review Tips:

• Quantify Impact: For each project or product in your portfolio, clearly articulate the problem, your strategic solution, your role, and the quantifiable results (e.g., % increase in sales, market share gain, revenue growth, cost savings).

• Highlight Process: Detail the strategic planning, research, design, and optimization processes you employed. Use frameworks and methodologies relevant to product strategy and bancassurance.

• Showcase Collaboration: Emphasize how you worked with different stakeholders (internal and external) to achieve product success.

• Tailor to AIA: Research AIA's current bancassurance strategy and market position. Frame your portfolio examples to demonstrate how your skills and experience align with their goals and challenges.

• Conciseness and Clarity: Present your portfolio in a clear, organized, and concise manner, focusing on the most impactful projects.

Challenge Preparation:

• Be ready to discuss your approach to market analysis, product ideation, pricing strategies, and risk management in the bancassurance context.

• Prepare to articulate how you would develop a product strategy for a specific segment or partner bank, addressing potential challenges and competitive pressures.

• Practice presenting complex information clearly and persuasively, as you may be asked to present your strategic thinking or case studies.

📝 Enhancement Note: Given the strategic nature of this role, expect a rigorous interview process that heavily evaluates strategic thinking, analytical depth, and commercial acumen. The portfolio presentation is likely a significant component, serving as a practical demonstration of your strategic planning and execution capabilities.

🛠 Tools & Technology Stack

Primary Tools:

• Microsoft Excel: Advanced proficiency for financial modeling, data analysis, scenario planning, and reporting.

• SQL: Essential for querying and extracting data from databases to perform in-depth analysis of customer behavior, sales performance, and market trends.

• Business Intelligence (BI) Tools: Experience with platforms like Tableau, Power BI, or similar for creating dashboards, visualizations, and reports to track key performance indicators (KPIs) and communicate insights.

• CRM Systems (e.g., Salesforce, internal AIA systems): Understanding of how CRM data informs customer segmentation, product targeting, and sales performance analysis.

Analytics & Reporting:

• Proficiency in analyzing large datasets to identify trends, opportunities, and risks within the bancassurance channel.

• Experience in developing and monitoring key performance indicators (KPIs) relevant to product strategy, sales, and customer satisfaction.

• Ability to translate complex data analysis into actionable insights and clear recommendations for product development and strategy. CRM & Automation:

• While not a direct operations role, understanding of how product strategy interfaces with sales automation and CRM capabilities is beneficial for effective product launches and sales enablement.

• Familiarity with workflow automation concepts to streamline product development and deployment processes, though direct implementation may not be required.

📝 Enhancement Note: The emphasis on SQL and BI tools indicates a strong need for analytical rigor. While not a pure operations role, understanding how data is managed and utilized within CRM and potentially automated workflows is crucial for effective product strategy and execution.

👥 Team Culture & Values

Operations Values:

• Customer-Centricity: A deep understanding of customer needs and behaviors, driving product development that delivers genuine value to policyholders and banking partners.

• Data-Driven Decision Making: A commitment to using data and analytics to inform strategy, measure performance, and drive continuous improvement in product offerings.

• Collaboration & Partnership: A strong belief in working collaboratively with internal teams and external banking partners to achieve shared goals and drive mutual success.

• Integrity & Compliance: Upholding the highest ethical standards and ensuring all product strategies and designs adhere strictly to regulatory requirements and AIA's internal policies.

• Innovation & Agility: A proactive approach to market changes, fostering a culture of continuous learning, adaptation, and the pursuit of innovative product solutions.

Collaboration Style:

• Cross-functional Integration: Expected to work seamlessly with sales, actuarial, marketing, compliance, and IT departments, fostering open communication and shared ownership of product success.

• External Partnership Management: Building and maintaining strong, trust-based relationships with key stakeholders at partner banks, acting as a strategic advisor and collaborator.

• Knowledge Sharing: Encouraging an environment where insights and best practices are shared openly within the team and across departments to elevate collective expertise.

📝 Enhancement Note: The values emphasize a blend of strategic foresight, analytical discipline, strong interpersonal skills, and ethical conduct, all critical for a senior role influencing product strategy within a regulated industry and complex partnership environment.

⚡ Challenges & Growth Opportunities

Challenges:

• Navigating Regulatory Landscape: Staying abreast of evolving insurance regulations in China and ensuring all product strategies and designs are compliant.

• Balancing Partner Needs: Effectively managing the diverse and sometimes conflicting needs of multiple banking partners while aligning with AIA's strategic objectives.

• Market Volatility: Adapting product strategies quickly to respond to dynamic market conditions, economic shifts, and competitive pressures.

• Driving Innovation: Fostering a culture of innovation within a structured corporate environment and translating novel ideas into viable, compliant products.

Learning & Development Opportunities:

• Deep Dive into Bancassurance: Gaining unparalleled expertise in the intricacies of the bancassurance distribution channel and its strategic importance.

• Executive Exposure: Direct interaction with senior leadership at AIA and partner banks, offering mentorship and strategic development.

• Advanced Analytics & Strategy Workshops: Opportunities to attend industry-leading training on product development, market intelligence, and strategic planning.

• Leadership Development Programs: Participation in AIA's internal leadership development initiatives to hone management and strategic influence skills.

📝 Enhancement Note: The challenges are inherent to a senior, strategic role in a complex financial services environment. The growth opportunities are significant, offering a clear path for professional and leadership development within a leading international insurer.

💡 Interview Preparation

Strategy Questions:

• "Describe your process for developing a new bancassurance product strategy. Walk us through a successful example from your portfolio, highlighting the market insights, strategic choices, and outcomes."

• "How do you balance the need for product innovation with stringent regulatory compliance in the Chinese insurance market?"

• "Given AIA's current market position, what do you see as the biggest opportunities and threats in the bancassurance channel over the next 3-5 years, and how would you position our product strategy accordingly?" Company & Culture Questions:

• "What do you know about AIA's bancassurance strategy and its role within AIA China's overall business objectives?"

• "How would you approach building and maintaining strong, collaborative relationships with senior management at our key banking partners?"

• "Describe a time you had to influence stakeholders with differing opinions to gain alignment on a strategic product decision. What was your approach and the result?" Portfolio Presentation Strategy:

• Structure your presentation: Begin with a high-level overview of your strategic philosophy, then dive into 2-3 key case studies from your portfolio that best represent your skills in bancassurance product strategy.

• Quantify impact: For each case study, clearly state the objective, your strategic approach, key actions taken, challenges overcome, and most importantly, the measurable results (e.g., market share growth, APE increase, profitability metrics).

• Showcase your process: Detail your market research, competitive analysis, product design, pricing, and optimization methodologies. Use visual aids to illustrate complex concepts or data.

• Connect to AIA: Articulate how your experience and strategic approach align with AIA's business goals and the specific requirements of this role.

📝 Enhancement Note: Expect interview questions that probe your strategic thinking, analytical capabilities, understanding of the bancassurance market, and leadership potential. The portfolio presentation is a key opportunity to demonstrate your practical experience and strategic impact.

📌 Application Steps

To apply for this Director I, Banca Product Strategy & Planning position at AIA:

• Submit your application through the provided Workday link.

• Curate Your Portfolio: Select 2-3 of your most impactful bancassurance product strategy or development projects. For each, prepare a concise summary that details the market context, your strategic approach, key design elements, execution plan, and quantified results (e.g., market share growth, sales volume, profitability).

• Optimize Your Resume: Tailor your resume to highlight your 10+ years of insurance experience, with a strong emphasis on the 8+ years in product management or actuarial science, and specific achievements within the bancassurance channel. Use keywords from the job description, such as "bancassurance product strategy," "market research," "pricing strategy," "SQL," and "stakeholder management."

• Prepare for Case Studies: Anticipate being asked to discuss your strategic thinking process, competitive analysis skills, and how you manage product lifecycles. Practice articulating your approach to market challenges and product innovation.

• Research AIA: Thoroughly understand AIA's business, its market position in China, its known bancassurance partnerships, and its overall corporate values. This research will help you tailor your responses and demonstrate your genuine interest.

⚠️ Important Notice: This enhanced job description includes AI-generated insights and operations industry-standard assumptions. All details should be verified directly with the hiring organization before making application decisions.