FirstRand is seeking a dynamic and commercially astute Product Manager to join its Employee Benefits division at FNB in Johannesburg. This is an exciting opportunity for an actuarial professional looking to leverage their technical expertise to shape and optimise a diverse range of employee benefit solutions. The role demands a blend of actuarial prowess, product management acumen, and marketing insight to drive innovation and sustainable growth within Group Risk, Fund Administration, and Umbrella Investments.

About the Role

This position is central to the strategic direction of FNB's Employee Benefits portfolio. You will be the recognised actuarial specialist, translating complex actuarial findings into tangible, customer-centric product offerings. Your responsibilities will span product pricing, profitability management, and the development of new and enhanced solutions. By applying strategic insight and commercial acumen, you will identify growth opportunities, optimise portfolio performance, and ensure FNB remains at the forefront of the employee benefits landscape.

The role requires a proactive individual who can not only analyse data and understand intricate actuarial concepts but also effectively communicate these to various stakeholders, including non-technical teams, to inform strategic decision-making and drive business success. Collaboration with internal departments such as Distribution and Marketing, as well as external partners, will be crucial in developing compelling value propositions and supporting sales initiatives.

As a Product Manager within the Employee Benefits team, your key responsibilities will include:

• Providing in-depth actuarial support and insights for product strategy formulation, pricing philosophies, and overall portfolio optimisation.
• Leading and championing product development and innovation initiatives across the entire Employee Benefits spectrum.
• Identifying potential growth avenues and recommending strategic actions to enhance portfolio performance and market competitiveness.
• Conducting thorough analyses of portfolio profitability, customer outcomes, and overall business performance to guide strategic choices.
• Assisting with critical analyses related to reinsurance, capital management, and risk optimisation.
• Serving as the primary actuarial subject matter expert, offering specialist guidance and advice to business units.
• Defining and overseeing the execution of technical marketing strategies for Employee Benefits solutions.
• Collaborating closely with Distribution, Marketing, and Segment teams to craft effective value propositions, support sales efforts, and boost campaign efficacy.
• Developing technical marketing materials, translating complex actuarial concepts into clear and understandable messaging for both customers and intermediaries.
• Monitoring, measuring, and reporting on product performance, providing insightful analysis of variances and emerging market trends.
• Undertaking market and competitor analysis to inform product enhancements and maintain a sustainable competitive edge.
• Cultivating and maintaining strong, strategic relationships with both internal and external stakeholders to achieve business objectives.
• Presenting product, operational, and business performance reports to governance and executive forums, influencing decision-making.
• Providing technical leadership and mentorship to team members, fostering a culture of continuous improvement and innovation.

What They're Looking For

To be successful in this role, candidates will need:

• A Bachelor's Degree in Actuarial Science (NQF Level 7).
• Demonstrated progress towards professional qualification with the Actuarial Society of South Africa (ASSA) or a comparable international body. A postgraduate actuarial qualification is considered advantageous.
• Advanced proficiency in actuarial modelling, data analysis, and interpretation.
• A minimum of 5 years of relevant experience in an actuarial, product management, product development, or Employee Benefits capacity.
• Experience within the Employee Benefits sector, including Group Risk, Life Insurance, Retirement Funds, or the broader Financial Services industry.
• Proven experience in actuarial pricing, profitability analysis, portfolio management, and product development.
• A track record of translating actuarial insights into actionable business, product, and commercial strategies.
• Substantial experience in engaging with senior stakeholders and influencing strategic decision-making processes.
• Experience supporting distribution channels through technical expertise, proposition development, and stakeholder engagement.
• Strong actuarial and analytical capabilities, coupled with commercial acumen and strategic thinking.
• Expertise in product development and portfolio management.
• Excellent stakeholder relationship management skills and a customer-centric approach.
• The ability to drive innovation and contribute to business growth.
• Advanced problem-solving skills and superior communication and presentation abilities.
• The capacity to simplify complex technical information for diverse audiences.
• A digital mindset and a data-led approach to decision-making.
• Advanced proficiency in Excel and experience with actuarial and analytical tools such as Python, R, or equivalent.
• Strong collaboration and influencing skills, along with adaptability, resilience, and self-awareness.

This role offers a stimulating environment within a progressive and agile organisation, with ample opportunities for networking, collaboration, and innovation where initiative is encouraged and ownership is supported end-to-end.

In South Africa, roles of this nature, requiring actuarial expertise and product management responsibilities in financial services, typically command competitive remuneration packages. Employers often include major banks, insurance companies, and large financial services groups. Career progression can lead to more senior product leadership, strategic planning roles, or specialised actuarial management positions within the employee benefits sphere.

Qualifications

• Bachelor's Degree in Actuarial Science (NQF Level 7).
• Progress towards professional qualification with the Actuarial Society of South Africa (ASSA) or an equivalent internationally recognised actuarial body.
• Postgraduate actuarial qualification advantageous.
• Advanced proficiency in actuarial modelling, analysis and interpretation of data.

Experience

• Minimum 5 years' experience in an actuarial, product management, product development or Employee Benefits environment.
• Experience within Employee Benefits, Group Risk, Life Insurance, Retirement Funds or broader Financial Services sectors.
• Demonstrated experience in actuarial pricing, profitability analysis, portfolio management and product development.
• Experience translating actuarial insights into business, product and commercial strategies.
• Experience engaging with senior stakeholders and influencing strategic decision-making.
• Experience supporting distribution channels through technical expertise, proposition development and stakeholder engagement.

Skills and Competencies

• Strong actuarial and analytical capability.
• Commercial acumen and strategic thinking.
• Product development and portfolio management expertise.
• Stakeholder relationship management.
• Client and customer centricity.
• Ability to drive innovation and business growth.
• Advanced problem-solving capability.
• Strong communication and presentation skills.
• Ability to simplify complex technical concepts for non-technical audiences.
• Digital mindset and data-led decision making.
• Advanced Excel skills.
• Experience with actuarial and analytical tools such as Python, R or equivalent.
• Collaboration and influencing capability.
• Adaptability and resilience.
• Self-awareness and personal leadership.
   

You will have access to:

• Opportunities to network and collaborate
• A challenging working environment that is progressive and agile
• Opportunities to innovate where initiative is taken and owned end to end
   

We can be a match if you are:

• Adaptable and curious
• Analyse complex data sets
• Thrive in a collaborative environment
   

Apply now if you are interested in taking the next step. We look forward to engaging with you!

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Important Closing Date Note

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.