Product Manager

firstrand; Johannesburg; On-site; ZAR 1,200,000 - 1,800,000; Full time

Job summary

First National Bank (FNB) is seeking an analytical and commercially minded Product Manager with actuarial expertise to lead Employee Benefits initiatives. You will shape pricing, profitability and portfolio development across Group Risk, Fund Administration and Umbrella Investments, translating complex actuarial insights into customer propositions.

As a senior actuarial and product leader, you will collaborate with stakeholders to drive growth, support distribution channels with technical

Qualifications

• Bachelor's degree in Actuarial Science or equivalent.
• Progress towards professional ASSA qualification or international equivalent.
• Postgraduate actuarial qualification is advantageous.
• Advanced proficiency in actuarial modelling, analysis and data interpretation.

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.

Skills

Actuarial science

Product management

Portfolio management

Pricing

Stakeholder management

Education

Bachelor's Degree in Actuarial Science

Progress towards ASSA qualification

Postgraduate actuarial qualification advantageous

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 c