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- Company: Old Mutual Kenya
- Location: Kenya
- State: Nairobi
- Job type: Full-Time
- Job category: - - Administrative/Secretarial Jobs in KenyaOld Mutual Jobs in KenyaProject Management Jobs in Kenya
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Job Description
Old Mutual Kenya is based in Nairobi and is part of a larger group that offers solutions in long-term savings, asset management and investment. We offer solutions to individuals and corporates underpinned by our core values which are: Respect, Integrity, Accountability and Pushing beyond boundaries.
Responsibilities:
Strategy development and execution
- Developing the predominately retail and corporate Life Product strategy for the region/countries, in support of the region/country’s business strategy.
- Responsibility for innovative new product development and the management of the existing book of products ensuring the business meets both customer and shareholder expectations
- Where relevant, assist with the design, development and implementation of customer Rewards schemes and product development and management supporting Integrated Financial Services aspirations and implementation.
- Ensuring robust governance of all Life Product development, enhancement and management.
- Track performance and take up of new or revamped products.
- Assisting regions/countries develop business cases supporting new products and sign off.
- Implementing new products or product amendments by clarifying business requirements to ensure IT implementations
- Potentially owning multiple high-priority product developments simultaneously.
- Determine country integrated product set profitability, taking into account entire value chain and propose initiatives to improve
- The role needs to ensure that product experience is continuously reviewed compared to assumptions and perform rate reviews where required.
- Needs to ensure product remains relevant and robust in terms of product features, underwriting and claims practices.
- Need a clear understanding of product profitability and the various profit levers to advise exco on business decisions.
- Drive the product thinking behind integration of products (INCL NON-LIFE) wrt Integrated Financial Services strategy
Stakeholder Management
- Being the “design authority” (in conjunction with the value chain partners – Service, IT, Customer, Digital, Distribution and Marketing) of the end to end life product solution.
- Working with all stakeholders to determine the country-by-country life product roll-out plan.
- Engage regularly with RoA Life Business Partner and RoA Life Lob Executive
- Engaging where required with industry bodies, regulators and the media
- Present product performance report to Regional/country Exco at least quarterly.
Best practice
- Global and local market research regarding all in country product propositions and technical detail
- Continually reviewing, identifying and promoting best practices and opportunities for improvement to the processes and organisation based on observation and lessons learned.
- Spend sufficient time in Region if not bases in Region in order to stay abreast of local nuances and product uptake behaviour.
People Management
- Managing and leading life product resources across geographies.
- Operating in a multi-located team environment and development of a community of life product resources, across geographies.
- Developing skills and competencies of life product resources.
- Working with centers of excellence in South African-based Customer Solutions in terms of support and development of skills and competencies.
Requirements:
- Qualified actuary.
- 10+ years’ product development/management or related experience in the insurance industry.
- Experience in operating with multiple project teams.
- Experience in owning the development and management of complex, multi-disciplined projects
- Broad insurance and financial product knowledge is essential.
- Commercial business experience will be advantageous
- Strong working knowledge of systems, applications, business processes and operations of products will be an advantage.
- Excellent communication skills and stakeholder management with strong influencing skills.
- Analytical problem solver.
- Travel, as required, across the region and to and from South Africa
Skills
- Business Decisions
- Business Processes
- Product Development
- Product Strategies
- Profitability
- Strategy Development
- Taking Initiative
Education
- Fellow Of The Institute Of Actuaries: Actuarial Science (Required)
