Old Mutual South Africa

  • Western Cape
  • Old Mutual South Africa
Job Description:

  • Beware of scammers who pose as reprensentatives of genuine employers.

    Old Mutual is an international investment, savings, insurance and banking group. For over 170 years we have been serving the growing insurance and investment needs of our customers, helping them achieve their lifetime financial goals.

    Product Specialist

    SPECIFIC KEY RESULT AREAS

    • Support product actuaries in managing a repository of RMM product rules and product history.
    • Provide input on product technical issues throughout the product lifecycle.
    • Ensure documentation of RMM product enhancements, annual rate reviews and annual savings changes, by creating and distributing sales manuals, product rules, A&P circulars and uploading to internal platforms (GSMobile, Intranet, etc).
    • Provide recommendation on Arbitration complaints and forensic investigations, aligned with the fair treatment of customers.
    • Co-ordinate and chair discretionary meetings, together with half-yearly reports to compliance and business owner.
    • Analyse and provide commentary on RMM complaints, with recommendations for product or process improvements in line with market code of conduct.
    • Create and execute plans that will enhance operational efficiency in non-standard or technical elements of the value chain and deliver excellent service to meet customer requirements.
    • Build and maintain successful relationships with key stakeholders at different levels.
    • Manage the work allocation and pipeline to team capacity.
    • Work with IT to implement systems to enhance processes and productivity, as required.
    • Identify risks and ensure governance and risk mitigation measures are implemented and adhered to.
    • A key product representative at various regulatory and other project implementations.
    • Consult widely across the business to ensure best practice is implemented with the management of products and service to customers.
    • Produce management information to report on target achievements in relation to processes and turn-around times
    • Provide technical support for annual campaigns, e.g. yearly policy updates and South African Retirement Annuity statements.

    GENERIC KEY RESULT AREAS

    Stakeholder Management

    • The roles and responsibilities of the various stakeholders agreed and documented and measures put in place to report on adherence.
    • Build relationships with stakeholders, peers and colleagues that impact across business areas.

    Product

    • Business rules documented, adherence monitored and issues addressed.

    Governance

    • Accountable for governance and compliance at an operational level.

    Process

    • Processes reviewed and documented.
    • Inefficient methods of working rooted out and checks and balances put in place.
    • Production targets set, monitored and reported.

    Technology

    • Current tools upgraded where appropriate.
    • New or additional tools, applications and systems implemented to ensure continuous improvement in methodology.

    Reporting

    • Reporting to stakeholders in line with their roles and responsibilities.
    • Reporting production and business metrics and reporting to the team.

    Operational Efficiency

    • Make innovative and strategic operational recommendations in line with the business strategic direction.
    • Accountable for executing business plans at an operations level.

    Role Qualifications:

    • Matric
    • Preference for relevant tertiary qualification (e.g. Commerce)
    • Five (5) years working experience with ‘old generation’ products
    • Five (5) years working experience in Mass Market
    • Proficient in MS Office
    • Stakeholder management experience
    • Systemic thinker
    • Have the ability to apply complex reasoning in a business context
    • Proven sound analytical and problem solving skills
    • Strong communication skills, both written and verbal
    • Strong relationship building skills
    • Excellent time-management, planning and co-ordination skills
    • Ability to prioritise workflow and work under pressure.
    • Have a strong bias for action.

    Competencies:

    • Aligning Performance for Success
    • Business Awareness
    • Decision Making
    • Gaining Commitment
    • Planning & Organising
    • Ownership
    • Technical Knowledge
  • Aptitude Tests

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