Job Description

Closing Date 2024/01/24
Reference Number MMH240116-5
Job Title Senior Product Specialist: Income Solutions
Position Type Permanent
Role Family Actuarial
Cluster Momentum Investments
Remote Opportunity Some of the time
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
Introduction

Through our client-facing brands Metropolitan and Momentum, with Momentum Money (our wellness and lifestyle rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.
We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Metropolitan provides practical financial solutions for people, communities, and businesses.
Role Purpose

Play a leading role in managing the guaranteed annuity and structured product solutions.
Requirements

• Associate or newly qualified actuary

• Minimum 4 years of experience in financial services

• Experience with guaranteed annuity types of products

• Understanding of pricing and valuations of life insurance or annuity products

• Experience with Risk Agility and Power PI will be an advantage

• Attention to detail is a critical skill

• Technical excel and modelling skills are critical

Duties & Responsibilities

Responsibilities and work outputs

• Understand and manage the pricing models for guaranteed annuities and structured solutions.

• Collaborate with the valuations teams to understand and unpack the reserves and value of business for these products.

• Collaborate with the asset manager teams to understand the impact of changing circumstances on pricing models.

• Provide deep insight into all assumptions and models affecting the products.

• Monitor the business mix and actual versus assumed parameters in the pricing models.

• Provide feedback to management on all issues related to these products when relevant.

• Apply judgement in pricing that balances all stakeholders when special quotes are requested.

• Provide support as a subject matter expert to internal and external stakeholders.

• Support the implementation teams for any changes from a system and experience perspective.

• Keep abreast of market and regulatory changes and opportunities afforded by these changes.

• Keep updated on the state of competitor products and pricing models.

• Monitor the experience of existing solutions as an early indicator of success / warning of changes required.

• Ensure the integrity of the data and propose solutions where processes should be updated.

• Provide input into analysis and business insights.

• Present solutions and proposals to governance forums including the product management

committee, Manco, Excos, etc as required.

• Make recommendations for improvement within area of responsibility.

Self-management and teamwork (People)

• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and

promotes excellence.

• Develop and maintain productive and collaborative working relationships with peers, clients and

stakeholders.

• Positively influence and participate in change initiatives.

• Continuously develop own expertise in terms of professional, industry and legislation knowledge.

• Contribute to continuous innovation through the development, sharing and implementation of new

ideas.

• Take ownership for driving career development.

• Effectively manage time and ensure optimal productivity.

• Ensure technical product and legislative knowledge is always current in order to propose the most

relevant and innovative client solutions and comply with governance requirements.

• Be self-confident, self-motivated and relentlessly pursue targets and goals.

Competencies

• Examining Information

• Interpreting Data

• Developing Expertise

• Providing Insights

• Generating Ideas

• Exploring Possibilities

• Articulating Information

• Managing Tasks

Policy

We are committed to Employment Equity, diversity and inclusion when recruiting internally and externally. All appointments are made in alignment to our Employment Equity goals and we encourage people with disabilities to apply.

Momentum Metropolitan