Product Development Manager at Old Mutual

On Wednesday, December 24th, 2014
Old Mutual plc. is a leading multinational long-term savings, protection and investment group which has been operating for over 169 years. 
It has operations in Africa, Europe, the Americas and Asia, supported by over 56,000 employees serving over 16 million customers. Old Mutual is listed on the London and Johannesburg Stock Exchange.
Old Mutual Kenya comprises of Old Mutual Life Assurance, Old Mutual Investment Group, Old Mutual Investment Services, Old Mutual Securities and Faulu Microfinance Bank.
The company has opportunity for qualified, experienced and talented individual to fill the following position within Actuarial Department.

Product Development Manager – Role Size N

Reporting to the Actuarial Executive, the incumbent will be responsible for overseeing new product development, review of existing products, competitor market intelligence and related initiatives.

The key objectives for this position are: –

  • Responsible for coming up with unique, innovative, cost effective and profitable products.
  • Lead in the review of existing products in liaison with the other stakeholders.
  • Conducting market and competitor products analysis to identify strengths and weaknesses of Old Mutual Kenya products versus competition and Identify opportunities and threats arising from these comparisons.
  • In liaison with the distribution channels and the marketing business unit, support the implementation of the various product related initiatives.
  • Providing feedback from the market to the business on how to enhance the product offerings and marketing of the products.
  • Giving input to the creation of the marketing message to be used for each product.
  • Work with stakeholders to determine business needs and to ensure new products and enhancements are aligned to the business and customer needs.
  • Leadership of the product development team
  • Analysing the competitors by building a database of competitor product offerings
  • Support the distribution channels when called upon in doing products presentations to clients.
  • Any other duties that may be allocated by management from time to time.
Qualifications and Experience
  • University graduate in Actuarial or Mathematics. A Master’s degree will be an added advantage.
  • At least 5 years of relevant experience in Product Development / Actuarial / Product Valuation within the Insurance industry.
  • At least 3 years supervisory experience within product development function.
  • Passed at least 10 actuarial professional exams
  • Innovative, with good presentation skills and attention to details.
  • Strong interest in performing research and be able to synopsize management information.
  • Good command of both written and spoken English
  • Proficiency in Word, Excel and Actuarial Modelling software.
  • Be a self-starter, highly motivated and a team player who works well under pressure with minimal Supervision
  • Good business acumen with sound analytical and negotiation skills
  • Proficiency in Visual Basic will be an added advantage
Interested candidates who meet the above qualifications and experience should apply for the role via by 7th January 2015

Only shortlisted candidates will be contacted.
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