Head of Customer Value Proposition: Group RiskHead of Customer Value Proposition: Group RiskApply locations Pinelands Johannesburg time type Full time posted on Posted 2 Days Ago job requisition id JR-60526Let's Write Africa's Story Together!Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.Job DescriptionRole OverviewA 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 AreasDevelop and implement GAP's product strategyPerform market research & competitor analysis to inform product strategyDevelop & implement GAP's product strategy geared towards sustainable growth in the small & medium segment of the SA marketLiaise with the OM Corporate Customer Office to develop customer journeysDevelop and implement a framework for performing regular product reviewsLeading 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 decisionsManage relationship with Product legal and prioritise legal deliverablesProvide technical oversight and support, i.t.o. group risk products to operational areas and the broader value chainManage agile delivery teams to ensure system optimization & enhancement of operational infrastructureDrive the design of the new operating model between GAP and OM SuperFund umbrella, as well as relevant product development initiativesAnalyse valuation data and results or group risk products to gain a deeper understanding and insight into business results and emerging trendsAutomation of models and business processesDevelopment and maintenance of tools to analyse actuarial data, in order to enhance management reporting & business intelligenceDevelop and enhance product marketing functionEstablish inventory of forms, brochures, electronic & other marketing materialDevelop a framework for reviewing & updating content regularlyUpdating of website, accreditation & other training materialsDevelop content for one-pagers/articles to keep GAP top of mind for clients & intermediariesInternational pooling proposals & managing GAP's relationship with our pooling partnersSupport the Head of Customer Engagement with client engagements (new and existing clients) - regular interaction & presentations to trustee boards, intermediaries & clientsManage GAP's strategic partnershipsSetting up & maintaining binder agreements, including due diligence & operational oversightDevelopment of tools, processes & other infrastructure to support binders & other strategic relationshipsEngage with relevant legal & compliance departments to ensure compliance of binders, outsourcing arrangements and other commercial agreementsStructuring of large group risk arrangements in collaboration with OM Corporate Business Development teamDevelop GAP's wellness strategy and implement through strategic partnersOngoing review & enhancement of value-added services, including development of marketing collateralEnsure compliance with relevant regulation and internal governanceIdentify, manage and mitigate risks in the business relating to group assurance products & reporting thereof to the relevant governing committeesOML Product Expert for group risk, providing sign-off on new developments in accordance with the OML Product Monitoring PolicyGive input into board reports, eg customer report, market conduct reportEnsure compliance with relevant regulation eg PPR, TCF, Market Conduct, COFI, AML, unclaimed benefitsEnsure compliance with relevant OML policies, eg Product Monitoring, Insurance & ReinsuranceDesign and execution of key controlsReinsuranceSet reinsurance strategy for group risk and manage relationships with reinsurersManaging 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 arrangementsReview inwards reinsurance treaties including ratesManagement of relationships with OM Africa Regions teamsManagement of Group Risk CVP teamTraining & development of actuarial studentsOccasional pricing support on large and complex group risk arrangements, both for South African and OM Africa Regions clientsQualifications and Experience requiredQualified actuaryAt least 15 years of actuarial experience; of which at least 10 is with group risk products or reinsuranceExposure to product or pricing roles would be an advantageExperience in managing actuarial teamsStrong business acumenAbility to run projects independentlyThe ability to manage several projects and priorities at the same timeStrong communication skillsAbility to work across teams and collaborate with various stakeholdersAbility to think differently in developing client-centric solutions and build relationships with clientsCompetenciesExecutionLeading with InfluenceCustomer FirstStrategyCollaborationInnovationPersonal MasteryThe 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.SkillsEducationFellow Of Actuarial Society Of South Africa (FASSA): Actuarial Science (Required)Closing Date25 November 2024The 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.The Old Mutual Story!
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