Senior Product Specialist - Centurion at Momentum Metropolitan Holdings Limited

Requirements

• Degree in Actuarial Science.
• Associate or newly qualified actuary.
• 3-year degree in actuarial science.
• Associate or newly qualified actuary.
• 5 to 10 years of experience in financial services with at least 4 years’ experience in a Product Development role.

Duties & Responsibilities

Design and develop product solutions (Internal Process)

• Take the lead in developing and maintaining new products, interventions and products across all markets and segments that Momentum Investments serves.
• Maintain a core role in the implementation of products from a system, marketing, and socialization perspective.
• Develop product strategies to ensure solutions remain future fit and fit for purpose.
• Source information about competitor products and pricing models to analyze the features of these products.
• Report on and present competitor analysis to the actuaries.
• Source and analyse data from internal stakeholders and report on the features of new and existing products in order to assist the actuary to evaluate profitability and financial viability of the products.
• Collect and analyse data in order to assist the actuary to test and review probabilities and assumptions (including Value of New Business (VNB) assumptions) based on client profile and business requirements.
• Assist with client review to check profitability and provide input into rate reviews.
• Research, analyse and interpret market and customer data to provide reporting and information to all stakeholders.
• Present solutions and proposals to governance forums including the product management committee, MANCO, EXCO’s as required.
• Address and resolve pricing queries escalated from the pricing team in line with client centricity.
• Conduct business viability studies and finalize product solution designs.
• Understand regulatory changes and their impact on solutions.
• Analyse and research opportunities in the market to develop new products or streamline existing product offerings.
• Collaborate and build relationships with product development and segment teams across Momentum Investments
• Conduct behavioural and predictive modelling in support of client engagement and retention strategies.
• Perform financial modelling and assess the financial impact of solutions.
• Maintain financial model, including projection of income and expenses, of business across all segments.
• Set key assumptions and measure of these assumptions over time.
• Establish processes to measure the shareholder value generated and the drivers thereof.

Engage with clients in a client centric manner (Client Services)

• Provide authoritative, expertise and advice to clients and stakeholders
• Build and maintain relationships with clients and internal and external stakeholders
• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed
• Make recommendations to improve client service and fair treatment of clients within area of responsibility
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service

Self-management and teamwork (People)

• Develop and maintain productive and collaborative working relationships with peers, clients and stakeholders
• Positively influence and participate in change initiatives
• Continuously develop own expertise in terms of professional, industry and legislation knowledge
• Contribute to continuous innovation through the development, sharing and implementation of new ideas
• Take ownership for driving career development
• Effectively manage time and ensure optimal productivity
• Ensure technical product and legislative knowledge is always current in order to propose the most relevant and innovative client solutions and comply with governance requirements
• Be self-confident, self-motivated and relentlessly pursue targets and goals.

Contribute to financial controls and planning (Finance)

• Identify solutions to enhance cost effectiveness and increase operational efficiency
• Provide input into the risk identification processes and communicate recommendationsin the appropriate forum.

Competencies

Business Acumen

• Understands how the business operates, what the key issues and risks are that drives business success; and how they impact on the commercial viability of potential ventures and the profitability of the Group. 

Client/ Stakeholder Commitment

• Anticipates, meets and exceeds client’s needs by creating long lasting relationships that support the client value proposition, supports their financial wellness and ensures client centricity.

Drive for Results

• Drive a sense of urgency, focus, accountability, agility and execution to deliver business results.

Collaboration

• Prioritises the business interests of MMI and invests in the success of the group by aligning effort across divisions.

Impact and Influence

• Persuades, convinces, influences and inspires others, both within MMI and externally to win support, loyalty and gain commitment to the purpose of MMI.

Self-Awareness and Insight

• Manages self and relationships with others effectively, deals with ambiguity, uncertainty, and pressure, and provides perspective in difficult situations.