Head of Rewards at Old Mutual South Africa

Job Description

• Ownership of the strategic relationship across OM Bank and Group to establish a partnership, deliver strategic financial services and information, optimise the financial performance of the segment related to the Rewards Programme.

KEY RESULT AREAS

Rewards: 

• Design and implementation of the OM Bank rewards program
• Managing and working with the OM Group rewards team
• Documenting key requirements to inform RFP process and to conclude that process
• Engage with potential Reward partners for commercial agreements
• Engage with technology and solution partners for the rewards capability build (as required)
• Evaluate program performance and identify opportunities for optimization post-launch
• Develop new program features, initiatives and campaigns to support the desired customer and business outcomes
• Develop and maintain appropriate program KPIs
• Working with Value Management to ensure reward commercials are sound
• Compiling a BRD and conducting the rewards system RFP and ultimately selection
•  Balances own priorities with directing and motivating others.
•  Creates a climate for optimal performance.

Bank Launch 

• Collaborate across the organisation and lead a team of SMEs (including external advisors) in the development of a financial model, economic business case and a full business plan for the bank.
• Use technical and industry experts to validate the pricing assumptions against current pricing by other financial institutions for similar business to confirm feasibility.
• Assist with the design of new differentiated functionality and products and convert these into inputs for the overall financial model
• Assist with the SME CVP design and related product constructs
• Design and execute ecosystem and partnerships management framework and strategies to achieve Old Mutual Bank commercial and brand objectives.
• Develop and maintain an opportunity assessment framework to guide the identification, promotion and development of new markets, services or capabilities through partnerships and/or ecosystem engagements.
• Continuously evaluate and refine the ecosystem business model, with due regard to partner capabilities and culture to promote strategic collaboration.
• Build and influence internal and external stakeholder relationships to position Old Mutual and the Bank as a trusted, collaborator of innovative financial services.
• Promote the diffusion of innovation across the markets that Old Mutual operates in, assuring effective learning and collaboration across the various Old Mutual and partner delivery teams.

ROLE REQUIREMENTS 

• Matric
• Bachelor’s Degree in Information Technology or a related field is preferred.
• Master's degree in Information Technology (IT) (advantageous)
• Proven Fintech/Banking Experience (advantageous)
• Subject matter expert in the design of rewards programs
• Strong commercial understanding of rewards program economics
• Strong understanding of rewards metrics and analytics drivers to drive program optimization
• Understanding of behavioural models
• Strong communication, analytical and inter-personal skills (written and verbal)
• Proactive problem solver
• Excellent project management skills
• Ability to establish and build business relationships
• Ability to operate in cross-functional teams to deliver outcomes
• Ability to proactively identify opportunities and take initiative in a fast paced environment
• Negotiating and working with external partners
• Passionate about delivering meaningful/exceptional customer experiences