Product Specialist needed at Momentum
Momentum’s job vacancy, Career and Recruitment
Job title : Product Specialist jobs in Western Cape
Job Location : Western Cape, Cape Town
Deadline : September 12, 2022
Quick Recommended Links
Role Purpose
The above-mentioned position is currently available in the Structured Solutions team within Momentum Corporate. The candidate will be responsible for assisting in the management of discretionary participation and/or structured solutions. The role focuses on the investment side of Actuarial Science and will include involvement in the ongoing management of smoothed bonus and conventional with profit products
Requirements
- Actuarial Science degree preferred but not critical;
- Completed all Core Principles (ïA100 & A200′) subjects. Completion of A311 preferred but not critical;
- At least 3 (three) years working experience preferred;
- Experience with RiskAgility FM preferred;
- Knowledge of discretionary participation (smoothed bonus & conventional with profit products) and/or structured solutions preferred but not critical;
Duties & Responsibilities
Incumbent will be part of the ïStructured Solutions’ team, and will be co-responsible for the following:
- Ongoing management of discretionary participation and/or structured solutions, including but not limited to the oversight, system extraction, evaluation and projection of assets and liabilities;
- In close collaboration with Product Specialist Leader and segment/channel, plan for and take joint accountability for the development and implementation of discretionary participation and/or structured solutions in response to the segments’ strategies and the market needs;
- Recommendation of interim and final bonus rates (split between vested and non-vested where applicable) for smoothed bonus business at least half yearly;
- Recommendation of reversionary and/or terminal bonus rates for conventional with-profit business at least half yearly;
- Managing the implementation of statutory and contractual requirements for discretionary participation and/or structured solutions;
- Developing discretionary participation and/or structured solutions through conducting solution research, stakeholder engagement, compiling detailed product specifications and product approval documentation to ensure the achievement of MMH strategic objectives;
- Reviewing and proposing changes to discretionary participation business management actions;
- Building or updating appropriate models in order to quantify financial impacts appropriately;
- Reviewing and proposing changes to the segment Principles and Practices of Financial Management (PPFM);
- Continually evaluating discretionary participation and/or structured solutions to identify improvements in the solutions or the way in which they are managed, and to ensure they are still relevant;
- Ensuring proper system implementation of newly developed or revamped discretionary participation and/or structured solutions;
- Mitigating financial, legal, reputational and other pertinent business risks by ensuring administration systems are continuously rigorously tested for adherence to contractual obligations;
- Mitigating operational risks by reviewing and optimising processes;
- Ensuring asset and liability administration platforms adhere to product specifications, process documentation, contracts and the PPFM (where applicable);
- Calculating market value adjustments to be provided to external and/or internal stakeholders on an ongoing basis;
- Reviewing legal documentation (for example, client contracts, counterparty agreements, etc.);
- Actuarial and performance reporting for discretionary participation and/or structured solutions;
- Establishing and maintaining strong relationships with various internal and external stakeholders and assisting them in analysing, supplying and translating information on discretionary participation and/or structured solutions;
- Undertaking ad-hoc actuarial tasks including the resolution of technical queries; and
- Offering specialized assistance on projects.
- Provide input into the risk identification processes and communicate recommendations in the appropriate forum.
Competencies
- Ability to work accurately under pressure;
- High attention to detail and quality orientation;
- Strong analytical and problem solving skills;
- Good written and verbal communication skills;
- Good time management skills; and
- Ability to work in a team as well as independently.
How to Apply for this Offer
Interested and Qualified candidates should Click here to Apply online