Channel Finance Owner at Old Mutual South Africa

Job Description

The role is in the Distribution Economics team within the Mass Foundation Cluster (MFC) of Old Mutual. MFC focuses on sales and distribution to the lower income bracket in South Africa, and Distribution Economics is responsible for maintaining the economic viability of the 10 distribution channels serving this market. The role gives great exposure to the distribution environment, and interaction with the sales force. The incumbent will also need to work closely with actuarial colleagues in the Finance, Valuation and Business Partner areas.

DO YOU WANT TO:

• Experience the MFC Culture – it is one of the ingredients that have made the Mass Market business successful!

• Work with purpose – to help bridge the gap between our customers resources and their financial service needs

• Interact with our sales staff – without them, we would not have a sustainable business

• Give input into the future of MFC via our Business Planning process;

• Be involved in reshaping the MFC business in light of RDR

Key Result Areas:

• Distribution channel modelling (demographic and financial modelling of the costs and benefits of remuneration and reward structures). Suggesting areas for improvement and alignment given business objectives.

• Business Planning and forecasting of sales numbers and distribution expenses.

• Design of remuneration and incentive models for distribution channels aligned with business strategic intent.

• Communication of remuneration and incentive criteria.

• Regular reporting of channel financial metrics to finance and distribution management.

• Provide insight and assistance to sales channels on business management.

• Liaise with finance and actuarial business partners to develop and maintain financial models of the business, with a specific focus on VNB.

Requirements: Skills, Qualifications and Experience required:

• Qualified actuary or a senior actuarial student

• Substantial actuarial experience

• Solution-driven, passionate, energetic and innovative.

• Business acumen and negotiation skills.

• Possess a strong sense of ownership, takes initiative and ability to think on his/her feet.

• Capacity to work under pressure and meet tight deadlines.

• Good interpersonal and communication skills.

Skills

Education

Bachelor of Commerce (BCom): Actuarial Science (Required), Bachelor of Science (BSc): Actuarial Science (Required)