Product Legal Specialist

-Introduction
Role Purpose

To provide specialist product advice to ensure the legal soundness of operations and products within the Momentum Corporate employee benefits team. Play a dual role of product expert and legal specialist within the FundsAtWork and Group Insurance Product Solutions team
Requirements
- Actuarial degree
- LLB Law/Legal degree or equivalent preferred.
- At least 5 years' experience in Employee Benefits (retirement funds and/or group insurance).
- Relevant experience in a product development role and/or legal role within the employee benefit or insurance landscape.
Duties & Responsibilities
- Extensive knowledge of the Pension Funds Act, FSR, PPR, RDR, Insurance Act, POPIA is required.
- Monitoring and advising on legislative and regulatory changes. Engage with the Legal and Compliance department within Momentum Corporate.
- Providing legal support to FundsAtWork and Group Insurance in its delivery of retirement and insurance products, from a product perspective. Providing written and oral legal input on issues relating to employee benefits, retirement funds and group insurance.
- Understanding group insurance and retirement fund benefits and bridging the gap between the product house and the legal landscape.
- Knowledge transfer and upskilling of the wider Product Solutions team.
- Work within the FundsAtWork and Group Insurance actuarial product support area.
- Partner with the Compliance team to drive initiatives such as PPR (Policyholder Protection Rules) compliance from a product management perspective.
- Provide input into the risk identification processes and communicate recommendations in the appropriate forum.
- Client engagement and stakeholder management. Work collaboratively with teams across the business to strive towards an excellent client experience with our products. This will include IT, Marketing, Legal, Client Service, Product and Pricing.
- Communicate legal aspects in plain language to clients and stakeholders.
- Update member benefit statements to clearly communicate their benefits, rules and limitations in a client-friendly and clear format.
- Build tools and models to better serve clients and internal stakeholders, help with the understanding of our products and equip the business to resolve client queries.
- Ideate on new and innovative ways of enhancing existing products and services to better meet client needs. Investigate product feature differences and drive alignment between Group Insurance and FundsAtWork. Contribute to continuous innovation through the development, sharing and implementation of new ideas.
- Update and maintain Group Insurance and FundsAtWork product specification documents, policy documents, tender documents, technical guides and technical marketing wording.
- Update learning material for Learning & Development and technical product guides.
- Identify solutions to enhance cost effectiveness and increase operational efficiencies.
- Make recommendations to improve client service and fair treatment of clients within area of responsibility.
- Support internal stakeholders on product-related queries and client requests. Provide authoritative expertise to clients and stakeholders to help with product understanding and education.
- Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.
- Continuously develop own expertise in terms of professional, industry and legislation knowledge. Participate in knowledge sharing and upskilling initiatives within the team.
Competencies
- Analytical and problem-solving ability
- Good communication and presentation skills
- Interpersonal skills
- Well-developed legal research skills
- Understanding of insurance principles and business acumen
- Time management
- Commitment towards client and stakeholder experience
- Self-motivated
- Work independently and as part of a larger team
- Attention to detail

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.