Product Development Specialist

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Date: 20-Nov-2020

Location: Johannesburg, Gauteng, South Africa

Company: Sanlam Group

Who are we?

Sanlam Developing Markets (SDM) (a wholly-owned subsidiary of Sanlam Life Limited) is one of the top financial services providers in the South African entry-level and emerging middle market. It aims to understand the unique requirements of clients and offers a wide range of simple and affordable financial solutions that cover needs such as funeral insurance, savings for education, life cover and personal accident plans. In terms of the Sanlam Group Governance Policy, SDM is managed by the SA Retail Mass cluster, which is part of the Sanlam Life and Savings cluster within the Sanlam Group. There are four businesses within the SA Retail Mass cluster, namely; Group Benefits, Individual Life, Safrican Insurance and African Rainbow Life.

What will you do?
  • The role will be limited to Capitec Funeral product, Savings products (including RA) and non-funeral related Risk products and any other products management might allocate to the role.
  • Product design and product pricing to assist with the approval of new products, including Prophet coding / modelling
  • Provide support to the system development team in implementing new products and other required changes on the admin system.
  • Develop and maintain strong and supportive relationship with distribution channel heads, product houses and any other stakeholders with a view to assist in their efforts to meet business objectives. 
  • Perform and Interpret experience investigations and product management exercises to inform and/or influence business decisions.
  • Provide  ongoing Actuarial/technical support to the rest of business through, but not limited to
  • Model building to assist broader business decision making.
  • Setting up management tools for assessing viability and ongoing suitability of products.
  • Assisting Business Development projects, regulatory impacts on the business and ad-hoc projects.
  • Provide effective management and leadership to the direct reports.
What will make you successful in this role?
  • Matric
  • Actuarial Degree
  • At least 5 years Actuarial working experience.
  • Good progress with Actuarial exams. Preferably, CT equivalent exams complete
  • Proficiency in Excel.
  • Relevant experience in Life Insurance will be required.
  • Knowledge of Prophet and DCS will be a prerequisite.
  • Product development experience will be an advantage.
  • People management skills.
Qualification and Experience
Degree with 4 to 5 years related experience.
Knowledge and Skills
Actuarial Problem Solving
Issues management
Attention to detail and accuracy
Personal Attributes
Self-development - Contributing independently
Interpersonal savvy - Contributing independently
Nimble learning - Contributing independently
Tech savvy - Contributing independently
Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping  our employees to realise their worth. Through its business clusters – Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate, Santam, Miway, as well as the Group Office – the group provides many opportunities for growth and development.

Core Competencies
Cultivates innovation - Contributing independently
Customer focus - Contributing independently
Drives results - Contributing independently
Collaborates - Contributing independently
Being resilient - Contributing independently
Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. 

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.