Insurance Product Responsible (Sr. Analyst)

Insurance Product Responsible (Sr. Analyst)Country: Spain

IT STARTS HERE

Santander (www.santander.com) is evolving from a global, high-impact brand into a technology-driven organization, and our people are at the heart of this journey. Together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible.

This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference.

Our mission is to contribute to help more people and businesses prosper. We embrace a strong risk culture and all our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

Openbank focuses on business development related to consumer finance products, sales channels and commercial agreements with dealers, vehicle manufacturers or retail distribution establishments, as well as commercial functions associated with direct sales (branches, call centers or digital channels) and indirect sales (through third parties) of consumer finance products.

THE DIFFERENCE YOU MAKE

OPENBANK is looking for an Insurance Product Responsible based in our Boadilla del Monte (Madrid) office.

We’re shaping the way we work through innovation, cutting-edge technology, collaboration and the freedom to explore new ideas. To succeed in this role, you will be responsible for:

• Ensure fast time-to-market for new products and product changes, with adequate processes both internally and in our insurance partners.
• Coordinate product approval process and product launching across all markets.
• Define insurance product policies, procedures and minimum standards, taking into account customer needs, market practices, business opportunities and insurance rules and regulations.
• Lead Product Oversight Governance activities, monitoring products throughout their lifecycle, ensuring adequacy and compiling the required evidence of analysis and decisions.
• Ensure the product offer and distribution schemes are aligned with local applicable regulation, anticipating legal or regulatory changes affecting all distribution channels
• Ensure the proper product delivery by insurance companies, challenging pricing, Customer Value, expected profitability and product features. Deep analysis of economics for Openbank as a distributor.
• Support tender processes, partner selection and product negotiations when new insurance products or insurance partners are required by the business.

WHAT YOU’LL BRING

Our people are our greatest strength. Every individual contributes unique perspectives that make us stronger as a team and as an organization. We’re enabling teams to go beyond by valuing who they are and empowering what they bring.

The following requirements represent the knowledge, skills, and abilities essential for success in this role. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Professional Experience

• 6+ years of actuarial experience in insurance product management, bancassurance, insurance company, broker, consulting, environments. (Required)
• Experience in HQ, regional, multi-country or highly transversal roles, with proven ability to coordinate countries and influence stakeholders without hierarchical authority. (Preferred)
• International experience is a plus (Preferred)

Education

• University Dregree in business administration, economics, actuarial science, mathematics, engineering, law or similar (Required)
• Insurance Mediation certificate level 1 or 2 or commitment to obtain it in less than 12 months (Required)
• An actuarial degree is a plus but not a must-have (Preferred)

Languages

• Fluent English and Spanish (Required)
• Other European languages will be considered as a plus (Preferred)

Hard Skills

• Strong understanding of life and non-life insurance products and distribution models, especially products connected to digital banking, consumer credit, motor finance, GAP, CPI, payment protection, warranty, mobility and ancillary insurance. (Required)
• Knowledge of technical and actuarial product characteristics, sales processes, operations, and product economics. (Required)
• Knowledge of insurance regulation, including IDD, POG and mediation requirements, with continuous updating of regulatory developments across markets. (Required)
• Knowledge of market trends, competitors, insurance distribution practices and product governance standards. (Required)
• Knowledge of data analytics, automation or AI tools applied to product management, customer journeys or process optimization (Preferred)

Soft Skills

• Strong organization, analytical skills and ability to translate KPIs into clear business recommendations XXX
• Capacity to lead initiatives end-to-end with high autonomy and ownership.
• Strong stakeholder management, teamwork and ability to influence across countries, functions and seniority levels.
• Coordination with different areas, including countries, insurance partners, IT, legal, compliance, operations, business and digital channels.
• Ability to challenge insurance partners and local teams XXX

WE VALUE YOUR IMPACT

Your contribution matters, and it’s recognized. You can expect a fair, competitive reward package that reflects the impact you create and the value you deliver. But we know rewards go beyond numbers.

• We’re enable our teams to go beyond through global opportunities and broad career paths.
• Flexibility that works. Enjoy a hybrid working models—some days remote, some days onsite with your team—along with flexible hours.
• Learning for life. Access hundreds of courses on our platforms, including exclusive access to our global learning space: Santander Open Academy (www.santanderopenacademy.com)
• Competitive rewards. Receive a highly competitive salary with performance-based bonuses, motivating you to keep growing with us.
• Financial advantages. Benefit from preferential banking terms, special interest rates on loans, life insurance, and more.
• Your health is our priority. Through BeHealthy, our global wellness programme, we promote Holistic wellbeing.
• We know family is everything. That’s why we offer childcare support and family-friendly programmes tailored to each life stage.
• Always by your side. Get access to Santander Contigo, our program for employees and their families offering legal, emotional, and administrative advisory services.
• Extra benefits. Gym/WellHub membership, medical centers in some of our facilities, meal subsidy, parking, shuttle service from various points in Madrid, as well as exclusive discounts and offers for Santander employees. And that’s only the beginning—we’ll tell you more when you join!

We’re here to keep you motivated, help you reach your goals, and celebrate your progress, every step of the way.

LOCAL COMPLIANCE

Santander is proud of being an organization where there are equal opportunities regardless of age, gender, disability, civil status, race, religion or sexual orientation. We are committed to providing an inclusive and accessible application process for all candidates.

WHAT TO DO NEXT

If this sounds like a role you are interested in, then please apply.

READY TO TAKE THE NEXT STEP IN YOUR JOURNEY?