Manager: Group Governance & Product Management needed at Santam Insurance

JOB DESCRIPTION

• This role will be responsible to develop and implement a framework for insurance products management throughout the product lifecycle with due consideration of existing governance policies and relevant legislation.
• The framework will include, but not be limited to, designing, developing, delivering, maintaining and monitoring, in collaboration with and support of Group business units, timeous, relevant and suitable product solutions within a framework of strategic direction and product management best practice.
• The role will further be responsible to enhance, manage, and oversee the product management framework relating to new products, existing products and material changes to existing products.
• The role will also support and drive the creation and development innovative insurance products in order to bridge the gap between existing insurance offerings and capabilities and the insurance opportunities that exist, ensuring that Group business units implement the most efficient and effective products tailored to their unique markets.  

KEY ACCOUNTABILITIES

• Accountable to ensure adherence to product management framework and capabilities being product strategy, product planning, product development and product portfolio management.
• In collaboration with key stakeholders, manage the end-to-end product lifecycle, from conceptualization to launch, for key initiatives within our product portfolio.
• Ensure that relevant marketing strategies and plans are in place for products to achieve overall competitive advantage and profitability.
• Conduct market research, competitive analysis, and customer feedback to identify opportunities and inform product decisions.
• Provide insights to drive marketing and product usage campaigns and the product and partner strategy.
• Ensure business tracks performance of all sales and marketing campaigns to ensure ROI and work with the sales and distribution teams to improve sales, by providing customer insights and input into marketing strategy including sales scripts.
• Ensure execution with the agreed product strategy to ensure brand objectives are met.
• Enhance the product and distribution channels as well as identify new opportunities to grow the existing product.
• Support business in achieving growth and profit targets for the products by enhancing communication channels between the stakeholders to maximize business requirements, processes and efficiencies.
• Responsible for monthly and quarterly product management and governance reporting.
• Ensure compliance by business with the relevant legislation (e.g. Insurance Act, STIA, FAIS, CPA, POPI, NCA, FICA, Competition Act etc.) and keep up to date with legislative changes.
• Ensure effective communication strategies are implemented and aligned to the product plan with the policy holders [i.e. customers].

QUALIFICATIONS AND EXPERIENCE

• Relevant Commerce Bachelor’s or similar degree required. Post-graduate or Master’s degree in a related field preferred.
• Minimum of 5 years’ governance and insurance risk management experience.
• 7-10 years’ professional experience with experience at an insurance product development and product management in insurance and or other relevant digital insurance product enabling business
• Rewards experience beneficial.

SKILLS

• Proficient computer literacy (MS Office package: Word, Excel, PowerPoint, Internet researching skills).
• Astute Customer Market Awareness 
• Training in Agile delivery
• Strong knowledge of fintech, financial services and mobile money
• Experience with African and emerging market consumers, and multicultural sensitivity
• Advanced insurance product knowledge and/or subject matter expertise in applications (including but not limited to specialist lines such as marine, engineering, specialist liability, corporate business, sectional title, aviation). 
• Teamwork, support, collaboration and cooperation.
• Producing creative solutions.
• Analytical thinking and structured thinker with strong business acumen.
• Proven problem-solving skills.
• Proven ability to influence cross-functional teams without formal authority.
• Demonstrate excellent ability to define and implement successful products.