Product Owner: Annuity Strategy - Pineland at Old Mutual South Africa

Job Description:

• Provide input into the appropriate strategy and helping to build the relevant roadmaps to execute on the delivery thereof, whilst representing the customer and vision of the business.
• Take responsibility to lead an Agile team and work with other teams to execute on agreed plans.
• The Annuity Strategy proposition encompasses two key aspects: an appropriate products offering and a customer friendly engagement model. This role encompasses both these aspects.
• Being part of a broader team which develops and manages annuity products, there will be the scope to enjoy participation in technical work relating to annuities as well as the involvement in product delivery and support to the Old Mutual businesses on the African continent.
• Undertakes the specialist functions of planning and coordinating the execution of market-/ competitor-/customer focused- research, interpreting findings and giving input into the creation of the product strategy.  
• Facilitates the design and development of product propositions, including the planning and management of the feasibility, prototyping, testing, refinement, and changes.  
• Develops and defines a business case for the product development/build. 
• Undertakes effective ongoing stakeholder engagement and collaboration through all the stages of the product development.  
• Defines and develops the product CVP; and manages the final product testing and build with various business partners and stakeholders within an Agile environment.   
• Undertakes the functions of (giving input into, as well as dealing with, more complex aspects of the following): rendering specialist product support, management of the book; product enhancements; and product performance tracking and reporting.

Key Results Area:

Agile

• Lead an Agile delivery team.
• Active involvement in Agile ceremonies as necessary.
• Translates strategy and roadmaps into features and stories to help guide the team and align stakeholders.
• Understand and be actively involved in removing impediments to team performance that are raised by either the Scrum Master or team.
• Communicating risks effectively to stakeholders.
• Make day to day decisions that will guide the team delivery.
• Maintaining and prioritizing a team product backlog.
• Make decisions at a team level in helping to support the achievement of the agreed outcomes.

Product Development

Defines and develops a robust business case for new product developments

• Facilitates idea generation, product concept definition and evaluation processes with stakeholders.
• Integrates the digital imperatives identified into the product development process.
• Interrogates research results and distills findings and conclusions that will enable the creation of the product customer value proposition (CVP).
• Manages the implementation of effective knowledge management through the establishment of robust processes and procedures
• Plans and manages the execution of market/competitor customer focused research and interprets findings.
• Plans, co-ordinates and interrogates the model/prototype development, testing, reporting and changes.
• Plans, co-ordinates and manages the final product testing /validation /changes and co-ordinates with various business partners to ensure a smooth product build.
• Undertakes feasibility testing and ongoing collaboration, communication and alignment with stakeholders.

Product Management

• Receives, investigates and proposes solutions for requests from the business for tactical interventions/ possible customisations of New Business.  
• Reviews and evaluates existing products, investigates changes and implements these through the correct protocols and processes.
• Undertakes escalations, technical input and decision making/authorisations relating to special quotes, changes, waivers and error corrections.
• Undertakes periodic product experience reviews, recommends and drives changes; and undertakes monthly financial reporting.

Requirements:

• University graduate with a degree majoring in actuarial, finance, statistics, mathematics, investments or similar. Honours degree will be advantageous.
• Possibly pursuing actuarial/ CFA professional qualifications or attained these qualifications.
• Minimum 5 years of relevant financial services experience (of which 3 years is management experience, if leading a team). Relevant experience in the retirement fund industry including value-chain project implementation and/or financial services product management is preferred.
• Knowledge and experience of Agile methodology and frameworks like Scrum, Kanban, Scaled Agile (SAFe) etc.
• Leadership and strong stakeholder management experience.
• Strong numerical, analytical and technical ability, particularly firm understanding of financial mathematics (compound interest calculations).
• An understanding of actuarial principles and calculations will be advantageous.
• Ability to perform complex analysis and modelling.
• Knowledge of pensions regulations that have an impact on product development.
• Experience with Microsoft Office suite, with advanced Excel Skills. VBA experience will be beneficial.
• Excellent interpersonal and communication skills (both written and verbal). Ability to work in a team and with a wide variety of stakeholders.
• Motivated self-starter, who shows initiative, looks for ways to improve existing processes and is able to complete tasks within agreed timelines with minimal guidance.
• Strong sense of ownership and accountability. Willing to learn and grow
• Comfortable with ambiguity. Quick learner with ability to plan and prioritise.

Competencies:

• Execution
• Strategic
• Personal Mastery
• Collaboration
• Leading with Influence
• Innovation
• Customer First