Head of Customer Value Proposition: Group Risk
Head of Customer Value Proposition: Group Risk
Apply locations Pinelands Johannesburg time type Full time posted on Posted 2 Days Ago job requisition id JR-60526
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Job Description
Role Overview
A vacancy exists for a senior actuary in Group Assurance to support the General Manager: Corporate Protection. The incumbent will be responsible to develop and drive the implementation of the product strategy for group risk through a cross-functional team.
The role is a senior GAP management role with representation on its executive committee – thereby ensuring that the incumbent is in a strong position to influence the strategy of Old Mutual’s group assurance business. The incumbent will be expected to interact with clients and stakeholders at all levels, and will drive the current and future product strategy.
Key Result Areas
Develop and implement GAP’s product strategy
Perform market research & competitor analysis to inform product strategy
Develop & implement GAP’s product strategy geared towards sustainable growth in the small & medium segment of the SA market
Liaise with the OM Corporate Customer Office to develop customer journeys
Develop and implement a framework for performing regular product reviews
Leading development of new products and enhancements to the existing group range for South Africa and OM Africa Regions (supported by Product Legal)
Balances complex business trade-offs in product design and makes appropriate decisions
Manage relationship with Product legal and prioritise legal deliverables
Provide technical oversight and support, i.t.o. group risk products to operational areas and the broader value chain
Manage agile delivery teams to ensure system optimization & enhancement of operational infrastructure
Drive the design of the new operating model between GAP and OM SuperFund umbrella, as well as relevant product development initiatives
Analyse valuation data and results or group risk products to gain a deeper understanding and insight into business results and emerging trends
Automation of models and business processes
Development and maintenance of tools to analyse actuarial data, in order to enhance management reporting & business intelligence
Develop and enhance product marketing function
Establish inventory of forms, brochures, electronic & other marketing material
Develop a framework for reviewing & updating content regularly
Updating of website, accreditation & other training materials
Develop content for one-pagers/articles to keep GAP top of mind for clients & intermediaries
International pooling proposals & managing GAP’s relationship with our pooling partners
Support the Head of Customer Engagement with client engagements (new and existing clients) - regular interaction & presentations to trustee boards, intermediaries & clients
Manage GAP’s strategic partnerships
Setting up & maintaining binder agreements, including due diligence & operational oversight
Development of tools, processes & other infrastructure to support binders & other strategic relationships
Engage with relevant legal & compliance departments to ensure compliance of binders, outsourcing arrangements and other commercial agreements
Structuring of large group risk arrangements in collaboration with OM Corporate Business Development team
Develop GAP’s wellness strategy and implement through strategic partners
Ongoing review & enhancement of value-added services, including development of marketing collateral
Ensure compliance with relevant regulation and internal governance
Identify, manage and mitigate risks in the business relating to group assurance products & reporting thereof to the relevant governing committees
OML Product Expert for group risk, providing sign-off on new developments in accordance with the OML Product Monitoring Policy
Give input into board reports, eg customer report, market conduct report
Ensure compliance with relevant regulation eg PPR, TCF, Market Conduct, COFI, AML, unclaimed benefits
Ensure compliance with relevant OML policies, eg Product Monitoring, Insurance & Reinsurance
Design and execution of key controls
Reinsurance
Set reinsurance strategy for group risk and manage relationships with reinsurers
Managing of and reporting on both the inwards and outwards reinsurance requirements for the group risk products for GAP; including (inter alia) auto-treaty, facultative and international pooling arrangements
Review inwards reinsurance treaties including rates
Management of relationships with OM Africa Regions teams
Management of Group Risk CVP team
Training & development of actuarial students
Occasional pricing support on large and complex group risk arrangements, both for South African and OM Africa Regions clients
Qualifications and Experience required
Qualified actuary
At least 15 years of actuarial experience; of which at least 10 is with group risk products or reinsurance
Exposure to product or pricing roles would be an advantage
Experience in managing actuarial teams
Strong business acumen
Ability to run projects independently
The ability to manage several projects and priorities at the same time
Strong communication skills
Ability to work across teams and collaborate with various stakeholders
Ability to think differently in developing client-centric solutions and build relationships with clients
Competencies
Execution
Leading with Influence
Customer First
Strategy
Collaboration
Innovation
Personal Mastery
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
Skills
Education
Fellow Of Actuarial Society Of South Africa (FASSA): Actuarial Science (Required)
Closing Date
25 November 2024
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.
All prospective employees are required to disclose their vaccination status as part of the recruitment process.
Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.
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