Specialist Pricing at Innovation Group South Africa

Description    

• The Pricing Specialist is responsible for researching, analysing, updating, and monitoring all information and data relevant to Service and Maintenance plans, as well as other non-regulated product pricing. The role aims to ensure all products are priced competitively and profitable

Minimum Requirements:
Education
Essential

• Bachelor's degree in mechanical engineering or Statistics, Finance, Economics or similar Equivalent NQF Level 7 Qualification

Preferred

• A Technical qualification in Automative Motor Mechanic or similar field

Experience
Essential

• A minimum of 3 years of experience in product cost estimation and analysis within a pricing environment or a similar role, preferably in the Automotive or Short-term Insurance Industry
• Strong analytical and quantitative skills.
• Proficient in data analysis and pricing software or tools.

Preferred

• Financial modelling and analytical skills
• Proficiency in SQL and BI tools (e.g., Power BI)
• Knowledge of techniques used or modern technology tools for analysing data and implementing pricing initiatives

Key Responsibilities    

• Finance
• Develop, maintain and implement optimal pricing models
• Determine and set pricing for all Service and Maintenance and other non-regulated products to ensure accuracy, competitiveness, and profitability.
• Evaluate the cause of loss ratios and other relevant factors to provide recommendations and assumptions for pricing models.
• Maintain and update pricing methodologies for different scenarios.
• Obtain and research relevant information to be incorporated into pricing strategies.
• Present data analytics and provide recommendations to management.
• Support and assist in various ad-hoc projects as needed

Risk and compliance

• Identify, assess, and mitigate risks associated with pricing strategies and models.
• Ensure that all pricing decisions comply with internal risk management policies and procedures
• Ensure all pricing activities comply with relevant regulations and standards.
• Stay updated on regulatory changes and incorporate them into pricing strategies and methodologies.

Customer

• Understand the overall business and drive a customer service culture within the organization.
• Support and drive the new business process in alignment with internal and external requirements.
• Ensure deliverables are met as agreed in SLAs
• Adhere to and promote a positive customer experience for both internal and external customers

People

• Create a culture of ownership and accountability throughout the organisation in support of our company values