Head of PDS Product Management at Momentum

Overseeing the PDS Product Management team for Legacy Solutions at MMH Head Office in Centurion. This will involve prioritising work and providing guidance, technical support and management of their team members.

• Overseeing the team's main focuses which are:
• The product management (i.e. multi-faceted functioning of the product to meet priced objectives and client outcomes) of all the legacy products housed on the PDS system by adequately balancing the objectives of the different stakeholders and by taking into account changing client and market needs;
• Profitability management of legacy products on PDS;
• Identify system errors, propose the most appropriate way to fix these and ensure the successful implementation;
• Ensure that clients are treated fairly through product design, communication and advice, and address any areas where improvement in this respect is required;
• Consolidation of legacy products where appropriate;
• Extraction of maximum value of legacy products on PDS through various reinsurance optimisation and other initiatives.
• (Co-)create the appropriate product enhancements/changes to be made on PDS legacy products together with other product specialists and segment managers:
• Propose the appropriate enhancements/changes to existing PDS policies;
• Model the effect on profitability of these enhancements/changes;
• Monitor the experience of important actuarial basis items (e.g. mortality, morbidity, persistency) and propose and/or implement rectifying actions where appropriate;
• Analysis of earnings and other financial metrics against budget, strategic plan or pricing.
• Providing the business requirements and supporting the implementation of:
• Improving client value;
• Enhancing early termination values where appropriate;
• Understanding maturity and death guarantees;
• Smooth bonus rate updates;
• Monitoring unit prices and ensure that errors are fixed and dealt with appropriately from a communication perspective;
• Legal and compliance requirements;
• Management of contractual obligation of PDS legacy products e.g. fee reviews;
• Product, process and data improvements.
• Documenting and reviewing all existing product bases.
• Providing support to the service areas in terms of product content.
• Managing own performance and development.
• Ensuring effective and consistent service delivery and support to both internal and external clients
• Managing the team effectively towards the outcome of high performance output, as per the MMH and Legacy people principles and policies

Competencies required

• Management skills
• Excellent verbal and written communication skills
• Strong interpersonal skills
• Delivering results and meeting expectations
• Coping with pressure and setbacks
• Adhering to principles and values
• Analytical thinking
• Self-motivated
• Achievement orientation
• Client service orientation

Experience and Qualifications

• Matric/Grade 12;
• A fully qualified actuary;
• The following experience is essential:
• Extensive experience in the (individual) Life Insurance industry
• At least 5 years’ experience in specifically the Product Management or Product Development areas of Life insurance,
• Previous experience with legacy products is highly advantageous,
• At least 2 years’ experience in team management.