Employee Benefits: Actuarial Product Specialist II/ III at FNB South Africa

Job Summary

• To provide actuarial and product leadership across the Employee Benefits portfolio through the application of actuarial expertise, commercial acumen and strategic insight. The role is responsible for product pricing, profitability management, product development, technical marketing and portfolio optimisation across Group Risk, Fund Administration and Umbrella Investment solutions.
• The incumbent acts as the recognised actuarial specialist for the business area while fulfilling a strategic product management role, providing expert guidance on product performance, customer outcomes, risk considerations and market opportunities.
• Through collaboration with key internal and external stakeholders, the role translates complex actuarial and technical concepts into compelling customer propositions, enabling informed decision-making, driving sales effectiveness and supporting the achievement of strategic growth objectives.

Responsibilities

• Provide insight and support in respect of the product strategy, pricing philosophy and portfolio optimisation.
• Lead major product development and innovation initiatives.
• Be involved in identifying the growth opportunities and recommend strategic interventions.
• Analyse portfolio profitability, customer outcomes and business performance. Monitor, measure and report on the performance of solutions to ensure products are managed relative to their defined/ desired outcomes.
• Assist with the analysis and explanation of product performance variances and where required provide the required analytics/ insights.
• Assist with reinsurance, capital and risk optimisation analyses.
• Perform complex analysis independently. Being a trusted professional that can be relied upon for expertise in specialised areas.
• Demonstrate expertise as a subject matter expert, with opinions and insights sought by peers and stakeholders for peer- to-peer reviews and strategic initiatives.
• Demonstrate advanced technical expertise in a specific domain and basic/intermediate proficiency in various other areas.
• Be familiar and comfortable with technology to ensure the business makes use of optimal tools to deliver on our product aspirations.
• To define, support and drive execution of the technical marketing capability for Employee Benefits. Including the development of technical marketing collateral and translating complex concepts into clear customer (consumer and/ or intermediary) messaging to help drive Sales targets (and Campaign performance).
• Encourage, establish and maintain strategic relationships (internally and externally) across multiple functional areas to enable collaboration and knowledge sharing across the function. Collaborate with key stakeholders to enable technology, marketing and creative teams to drive desired outcomes.
• As a member of the Product team, the candidate will play a role in the design and delivery of customer service solutions, systems and interactions aligned to organisational values and service standards that build the brand. This includes identifying, driving and implementing ideas, policies, procedures, standards and frameworks to enhance sales and increase profit and manage future fit practice.
• In collaboration with the segments (ie market segments as defined by the Bank) provide expertise and develop marketing collateral in support of initiatives that will ensure a focus on delivering outcomes that are compelling and relevant.
• Influence decision-making at governance and executive forums.
• Complete competitor analysis to assess the strengths and weaknesses of current and potential competitors. Evaluate and monitor competitor activities and channel these insights into the marketing initiatives. Keep abreast of the external environment.
• Use ongoing research to make recommendations regarding the appropriate improvements on solutions to ensure market dynamics are considered and effectively applied.
• Make use of latest technology to effectively deliver marketing messaging to target audiences, including mobile, video and social media.
• Work with Distribution teams to execute, track and drive campaigns.
• Compile relevant reports (eg operational, project execution, financial review, product development, etc.)
• Lead/ assist in query resolution.
• Manage own development.
• Mentor specialists and provide technical leadership across the team.

Qualifications

• NQF 7 or a Relevant Degree (eg bachelor’s degree in actuarial science and/ or Finance)
• Completion or good progress towards the professional qualification with the Actuarial Society of South Africa (ASSA) or an equivalent internationally recognised professional body.

Experience, Skills and Competencies

• At least 5+ years’ experience in an actuarial, product management, product development or Employee Benefits environment
• Experience within the Employee Benefits, Group Risk and/ or Retirement Funds is preferable
• Demonstrated experience in actuarial pricing, profitability analysis, portfolio management and product development
• Experience in engaging with senior stakeholders and influencing strategic decision-making
• Experience supporting distribution channels through technical expertise, proposition development and stakeholder engagement is preferable
• Business acumen and strategic thinking, and aptitude to drive results
• Advanced problem-solving capability
• Strong actuarial and analytical capability, ideally with experience in analysing data
• Digital mindset and data-led decision making
• Client and customer centricity mindset
• Ability to drive innovation and business growth, and comfortable to lead change and innovation
• Ability to build strong relationships
• Be proficient with key software packages, eg Excel, Word, PowerPoint and similar tools
• Preferably with advanced Excel skills
• Experience with actuarial and analytical tools such as Python, R or equivalent
• Adaptable, flexible and resilient
• Strong communication and presentation skills
• Ability to simplify complex technical concepts for non-technical audiences
• Collaboration and influencing capability
• Impactful and influential
• Self-awareness and personal leadership

Skills and Competencies

• Strong actuarial and analytical capability.
• Commercial acumen and strategic thinking.
• Product development and portfolio management expertise.
• Stakeholder relationship management.
• Client and customer centricity.
• Ability to drive innovation and business growth.
• Advanced problem-solving capability.
• Strong communication and presentation skills.
• Ability to simplify complex technical concepts for non-technical audiences.
• Digital mindset and data-led decision making.
• Advanced Excel skills.
• Experience with actuarial and analytical tools such as Python, R or equivalent.
• Collaboration and influencing capability.
• Adaptability and resilience.
• Self-awareness and personal leadership.

You will have access to:

• Opportunities to network and collaborate
• A challenging working environment that is progressive and agile
• Opportunities to innovate where initiative is taken and owned end to end

We can be a match if you are:

• Adaptable and curious
• Analyse complex data sets
• Thrive in a collaborative environment

End Date: September 16, 2026