Product Manager

Wesbank; Johannesburg; Hybrid; ZAR 900,000 - 1,200,000; Full time

Job summary

FirstRand is seeking a highly analytical Actuarial Product Manager for its Employee Benefits portfolio within the Group Risk, Fund Administration and Umbrella Investments areas. The role combines actuarial expertise with product management to shape and optimise customer-focused Employee Benefits propositions.

The incumbent translates complex actuarial insights into actionable customer messaging, supports strategic decisions, drives product innovation, and contributes to sustainable business

Qualifications

• Bachelor's Degree in Actuarial Science (NQF Level 7).
• Progress towards professional qualification with the Actuarial Society of SA (ASSA) or equivalent.
• Postgraduate actuarial qualification advantageous.

Responsibilities

• Provide actuarial insight and support in respect of product strategy, pricing philosophy and portfolio optimisation.
• Lead product development and innovation initiatives across the Employee Benefits portfolio.
• Identify growth opportunities and recommend strategic interventions to improve portfolio performance.
• Analyse portfolio profitability, customer outcomes and business performance to support decision-making.
• Partner with Distribution, Marketing and Segment teams to develop value propositions and drive campaigns.

Skills

Actuarial pricing

Product management

Portfolio management

Stakeholder management

Analytical ability

Education

Bachelor's Degree in Actuarial Science

ASSA qualification progress

Postgraduate actuarial qualification (advantageous)

Tools

Python

R

Excel

Job description

Job Description Provide clear direction and oversee the creative process within a specialist team to deliver high-quality products. Ensure alignment with project objectives by managing workflows, guiding team deliverables, and maintaining standards throughout the development cycle.

Hello Future Product Manager - Employee Benefits Welcome to FNB, the home of the #Changeables. We are looking for a highly analytical and commercially minded actuarial professional to join our Employee Benefits Product team.

As a Product Manager, you will combine actuarial expertise, product management and technical marketing capabilities to shape and optimise Employee Benefits solutions across Group Risk, Fund Administration and Umbrella Investments. You will be responsible for translating complex actuarial insights into customer-focused propositions, supporting strategic decision-making, driving product innovation and enabling sustainable business growth. If you are passionate about applying actuarial expertise to influence product strategy, customer outcomes and commercial performance, then this opportunity is for you.

Job Summary

To provide actuarial and product leadership across the Employee Benefits portfolio through the application of actuarial expertise, commercial acumen and strategic insight. The role is responsible for product pricing, profitability management, product development, technical marketing and portfolio optimisation across Group Risk, Fund Administration and Umbrella Investment solutions. The incumbent acts as the recognised actuarial specialist for the business area while fulfilling a strategic product management role, providing expert guidance on product performance, customer outcomes, risk considerations and market opportunities. Through collaboration with key internal and external stakeholders, the role translates complex actuarial and technical concepts into compelling customer propositions, enabling informed decision-making, driving sales effectiveness and supporting the achievement of strategic growth objectives.

Responsibilities

• Provide actuarial insight and support in respect of product strategy, pricing philosophy and portfolio optimisation.
• Lead product development and innovation initiatives across the Employee Benefits portfolio.
• Identify growth opportunities and recommend strategic interventions to improve portfolio performance.
• Analyse portfolio profitability, customer outcomes and business performance to support strategic decision-making.
• Assist with reinsurance, capital and risk optimisation analyses.
• Act as the actuarial subject matter expert and provide specialist guidance across the business.
• Define and support the execution of the technical marketing capability for Employee Benefits solutions.
• Partner with Distribution, Marketing and Segment teams to develop value propositions, support sales initiatives and drive campaign performance.
• Develop technical marketing collateral and translate complex actuarial concepts into clear customer and intermediary messaging.
• Monitor, measure and report on product performance and provide insights into performance variances and market trends.
• Conduct market and competitor analysis and recommend enhancements to maintain a competitive and sustainable product offering.
• Build and maintain strategic relationships with internal and external stakeholders to support business objectives.
• Influence decision-making at governance and executive forums.
• Compile and present product, operational and business performance reports.
• Provide technical leadership, mentor team members and contribute to a culture of continuous improvement and innovation.

Qualifications

• Bachelor's Degree in Actuarial Science (NQF Level 7).
• Progress towards professional qualification with the Actuarial Society of South Africa (ASSA) or an equivalent internationally recognised actuarial body.
• Postgraduate actuarial qualification advantageous.
• Advanced proficiency in actuarial modelling, analysis and interpretation of data.
• Experience Minimum 5 years' experience in an actuarial, product management, product development or Employee Benefits environment.
• Experience within Employee Benefits, Group Risk, Life Insurance, Retirement Funds or broader Financial Services sectors.
• Demonstrated experience in actuarial pricing, profitability analysis, portfolio management and product development.
• Experience translating actuarial insights into business, product and commercial strategies.
• Experience engaging with senior stakeholders and influencing strategic decision-making.
• Experience supporting distribution channels through technical expertise, proposition development and stakeholder engagement.

Skills and Competencies

• Strong actuarial and analytical capability.
• Commercial acumen and strategic thinking.
• Product development and portfolio management expertise.
• Stakeholder relationship management.
• Client and customer centricity.
• Ability to drive innovation and business growth.
• Advanced problem-solving capability.
• Strong communication and presentation skills.
• Ability to simplify complex technical concepts for non-technical audiences.
• Digital mindset and data-led decision making.
• Advanced Excel skills.
• Experience with actuarial and analytical tools such as Python, R or equivalent.
• Collaboration and influencing capability.
• Adaptability and resilience.
• Self-awareness and personal leadership.

You will have access to

• Opportunities to network and collaborate
• A challenging working environment that is progressive and agile
• Opportunities to innovate where initiative is taken and owned end to end

We can be a match if you are

• Adaptable and curious
• Analyse complex data sets
• Thrive in a collaborative environment

Important Closing Date Note

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

11/09/26

All appointments will be made in line with FirstRand Group’s Employment Equity plan.

The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfil this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

FirstRand provides a comprehensive range of financial services in South Africa and certain markets in broader Africa. The group also offers certain niche products and services in the UK and India. Listed on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX), FirstRand Limited is the largest financial institution by market capitalisation in Africa.

The group follows a multi-branding approach. Its portfolio of financial services businesses includes FNB, RMB, WesBank, Ashburton Investments, Aldermore, MotoNovo and DirectAxis. Many are leaders in their respective segments and markets, offering transactional, lending, investment and insurance products and services.

The FirstRand Corporate Centre houses many of the critical functions required by a large and complex financial services group.

The group's track record of delivering superior returns to shareholders has been achieved through a combination of organic growth, acquisitions, innovation and the creation of completely new businesses.

The group’s purpose of delivering Shared Prosperity provides many opportunities for employees to innovate to address social and environmental challenges in our markets.

All of our businesses have successful Volunteering programmes which also allow employees to adopt and support causes close to their hearts.