Manager: Product Development

Description

Duties & Responsibilities:
**Manage and oversee optimal system accuracy and performance from a values and functionality perspective**
- Provide guidance to IT team on programs used to administer business
- Implement and test automation of system programs for correctness and conduct audits on the administration system
- Assist with automation and integration of other Assupol Group divisions on the administration system
- Provide accurate and easily accessible information for optimal client servicing

**Contribute to Product Development**
- Research product feasibility from an administration system perspective
- Check compatibility with business ethics
- Contribute to in-house pricing of individual and group products
- Research of new market developments and generation of product ideas.
- Compare pricing & design of products with competitors
- Examine the terms & conditions of master policies
- Test quotation packages for new products (and product reviews)

**Manage reinsurance treaties**
- Research risk rates and reinsurance terms available in the market
- Monitor treaty monthly and recommend changes
- Manage and oversee that data and information are provided to reinsurers for special projects
- Manage and oversee reinsurance data and premiums are compiled and submitted to reinsurers on a monthly basis
- Manage profit-share payouts from reinsurers
- Maintain relationship with current and potential future reinsurers

**Management of actuarial valuation data**
- Monitor the correctness of actuarial valuation data
- Assist IT in the preparation of systems that generate actuarial valuation data
- Interpret actuarial report
- Discuss with management (actuarial committee)
- Manage the implementation of Valuation Report recommendations

**Provide professional input & support to the Group (amendments & general advice)**
- Provide input on client queries of a technical nature that was escalated by staff members
- Provide input on and monitor ombudsman queries of a technical nature
- Manage and oversee amendments to policies where actuarial support is required
- Manage values and product related queries from other Assupol departments (letters to be written, values queries and tax directive management

**Manage and oversee the updating of financial transactions**
- Manage and maintain the implementation of investment portfolio returns on the administration system
- Manage and oversee rebalancing reporting of the assets held against unit accounts
- Manage and oversee reporting to Investments Department

**Monitoring of in-force business**
- Monitor and analyse in-force data
- Manage, oversee and provide input on experience analyses of in-force business (e.g. to confirm lapse assumptions, mortality/morbidity assumptions, etc.)

**Manage the administration of Assupol retail pension funds**
- Manage and ensure the annual contribution certificates are completed for mailing to clients
- Manage the correctness and submission of tax directives to SARS on claims
- Manage and oversee the compilation and submission of documents and monitoring of Section 14 transfers
- Oversee the submission of SARS, SARB and other regulatory reports and compilation of the report for the quarterly Trustee Meetings
- Oversee that Finance are assisted with fund financial statements and assist Fund Valuator with fund valuations

**Requirements**:
**Formal Education**

B Degree Actuarial Sciences

Passed CT 1- 9

**Experience**

3 - 5 years’ experience in long term insurance

Work Level

Management

Job Type

Permanent

Salary

Market Related

EE Position

Yes

Location

Menlyn