Commercial Business Partner (Insurance) Mr Price Money at Mr Price Group

Job Description

• Are you passionate about driving innovation and creating impactful solutions within the insurance industry? Join our Financial Services team at Mr Price Money as a Commercial Business Partner, where you’ll play a critical role in product development, optimizing distribution channels, and improving product profitability.

Responsibilities

Business Partnering

• Act as a key partner across business units to drive performance and profitability for insurance products.
• Collaborate with the Commercial Manager to execute strategic initiatives, ensuring alignment with business objectives.
• Work with the Marketing, Operations, and BI teams to enhance omni-channel sales performance and optimize customer acquisition across distribution channels.
• Build and maintain relationships with external partners and suppliers, ensuring mutually beneficial agreements.
• Partner with Finance to develop cost of acquisition models, reconcile sales, and support budgeting and forecasting processes.
• Collaborate with IT and BI teams to streamline reporting, enhance automation, and provide actionable insights.
• Engage with HR and Training teams to ensure product-related training materials are effective and up to date.

Product Development & Performance Management

• Monitor product profitability and customer segment performance, implementing improvements as needed.
• Support the design and execution of commercial models and forecasts for new product development.
• Formulate and present business cases for product enhancements and innovations that align with customer needs and market opportunities.
• Identify and act on revenue growth opportunities through market research and trend analysis.

Distribution Channel Optimization

• Assess and recommend enhancements to distribution channels to drive profitability and customer engagement.
• Collaborate with internal teams to optimize omni-channel strategies, focusing on cost-effective and scalable solutions.
• Track the effectiveness of channel deployment strategies to improve product reach and impact.

Compliance and Risk Management

• Work closely with Legal and Compliance teams to ensure adherence to FAIS, and other regulatory requirements.
• Support quarterly compliance reporting for insurance submissions.
• Monitor and manage the implementation of financial and operational controls.

Project Leadership

• Lead and support projects aimed at improving product and process performance across the business.
• Assist in the migration to scalable technology platforms, ensuring alignment with strategic goals and compliance standards.

Cross-Functional Collaboration

• Act as a liaison between various teams, including Marketing, Finance, Operations, and IT, to ensure cohesive execution of business initiatives.
• Provide support and insights to the Commercial Manager to facilitate data-driven decision-making.

Qualifications

• Educational Background: Bachelor’s degree in finance, Accounting, Business Management, or related fields. Newly qualified CA(SA) preferred.
• Industry Experience: Minimum 3 years in financial services, with a focus on insurance and retail finance. Experience in product development and distribution optimization is advantageous.
• Technical Proficiency: Advanced skills in Microsoft Office Suite (Excel, Word, PowerPoint). Familiarity with financial modeling and forecasting tools.

Core Competencies:

• Strong analytical and commercial acumen.
• Exceptional communication and interpersonal skills.
• Proven project management capabilities.
• Ability to manage multiple priorities in a fast-paced environment.
• Regulatory Knowledge: Familiarity with FAIS.
• Entrepreneurial Flair: Demonstrated ability to identify and capitalize on growth opportunities.