Role Overview
The Old Mutual Structured Solutions team is looking for a talented individual to join a dynamic team responsible for the development and ongoing management of Old Mutual’s guaranteed and structured fund offerings.
The role will focus on product management and maintenance as well as development and will provide the opportunity to develop in-depth knowledge of Old Mutual’s guaranteed and structured funds. The successful candidate will be responsible for a range of technical deliveries, requiring a high level of numerical proficiency and analytical ability. The successful candidate will own several product management processes, with a mandate to continually review and improve existing methods and reduce the risk inherent in them.
The role offers exposure to the full product cycle: from the initial idea generation, research and innovation, through to the implementation and launch stage; the ongoing maintenance, review and refinement stage; and finally, where necessary the product or fund closure stage.
The role provides an opportunity to collaborate and engage with stakeholders across Old Mutual, including Customer Segments, Finance, Balance Sheet Management and Old Mutual Investment Group.
Role Description
- Ownership of investment unit pricing process for guaranteed and structured funds.
- Provide input into and support towards the development, maintenance and enhancement of guaranteed and structured funds
- Technical support and calculations relating to BAU/ operational management of funds.
- In the PF Retail and OM Wealth space, this will include calculation of prices, developing and maintaining pricing formulae, investment hedges, and investment asset allocations.
- General - monitoring guarantee levels on guaranteed funds and implementing the appropriate process when a guarantee bites.
- Monitoring product financial experience – compare actual vs expected experience, reporting on product metrics and fees.
- Provide input and support to systems development team – create development aids and assist with testing of delivered functionality.
- Process analysis and management – manage and improve existing business processes.
- Management information (MI) reporting - sourcing and combining data from multiple systems, building MI reports and creating tools to streamline MI reporting.
Take ownership of technical analysis required to aid new product development and enhancement of existing products, e.g:
- Pricing and profit testing
- Stress testing, stochastic modelling
- Asset and liability management
- Calculation of investment guarantees
- Ad hoc analyses
- Fund reviews
- Competitor research.
- Being part of a broader team, which develops and manages annuity products, there is the scope to enjoy participation in technical work relating to annuities.
Role Requirements: Skills, Qualifications &Experience
- Making good progress towards qualifying as an Actuary
- In case of an exam lag, significant relevant experience will also be considered.
- At least 3 years relevant actuarial experience preferably in Financial Services.
- Experience in an, investment support or financial services product management area is preferred.
- Firm understanding of actuarial principles and calculations.
- Knowledge of hedging and derivatives is a distinct advantage
- Knowledge of investment and pensions regulations that have an impact on product development is advantageous
- Strong numerical, analytical and technical ability, particularly firm understanding of financial mathematics (compound interest calculations)
- Ability to perform complex analysis and modelling.
Role Competencies
- Strategy
- Innovation
- Leading with Influence
- Collaboration
- Customer First
- Execution
- Personal Mastery
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