Job Opportunities at Old Mutual South Africa

Responsibilities:

Strategy development and execution

• Developing the predominately retail and corporate Life Product strategy for the region/countries, in support of the region/country’s business strategy.
• Responsibility for innovative new product development and the management of the existing book of products ensuring the business meets both customer and shareholder expectations
• Where relevant, assist with the design, development and implementation of customer Rewards schemes and product development and management supporting Integrated Financial Services aspirations and implementation.
• Ensuring robust governance of all Life Product development, enhancement and management.
• Track performance and take up of new or revamped products.
• Assisting regions/countries develop business cases supporting new products and sign off.
• Implementing new products or product amendments by clarifying business requirements to ensure IT implementations
• Potentially owning multiple high-priority product developments simultaneously.
• Determine country integrated product set profitability, taking into account entire value chain and propose initiatives to improve
• The role needs to ensure that product experience is continuously reviewed compared to assumptions and perform rate reviews where required.
• Needs to ensure product remains relevant and robust in terms of product features, underwriting and claims practices.
• Need a clear understanding of product profitability and the various profit levers to advise exco on business decisions.
• Drive the product thinking behind integration of products (INCL NON-LIFE) wrt Integrated Financial Services strategy

Stakeholder Management

• Being the “design authority” (in conjunction with the value chain partners - Service, IT, Customer, Digital, Distribution and Marketing) of the end to end life product solution.
• Working with all stakeholders to determine the country-by-country life product roll-out plan.
• Engage regularly with RoA Life Business Partner and RoA Life Lob Executive
• Engaging where required with industry bodies, regulators and the media
• Present product performance report to Regional/country Exco at least quarterly.

Best practice

• Global and local market research regarding all in country product propositions and technical detail
• Continually reviewing, identifying and promoting best practices and opportunities for improvement to the processes and organisation based on observation and lessons learned.
• Spend sufficient time in Region if not bases in Region in order to stay abreast of local nuances and product uptake behaviour.

People Management

• Managing and leading life product resources across geographies.
• Operating in a multi-located team environment and development of a community of life product resources, across geographies.
• Developing skills and competencies of life product resources.
• Working with centers of excellence in South African-based Customer Solutions in terms of support and development of skills and competencies.

Requirements:

• Qualified actuary.
• 10+ years’ product development/management or related experience in the insurance industry.
• Experience in operating with multiple project teams.
• Experience in owning the development and management of complex, multi-disciplined projects
• Broad insurance and financial product knowledge is essential.
• Commercial business experience will be advantageous
• Strong working knowledge of systems, applications, business processes and operations of products will be an advantage.
• Excellent communication skills and stakeholder management with strong influencing skills.
• Analytical problem solver.
• Travel, as required, across the region and to and from South Africa

Skills

• Business Decisions, Business Processes, Communication, Product Development, Product Strategies, Profitability, Stakeholder Management, Strategy Development, Taking Initiative

Education

• Fellow Of The Institute Of Actuaries: Actuarial Science (Required)

Closing Date

22 April 2023