Group Pricing Specialist (Group Risk)

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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

The Group Pricing Specialist plays a pivotal role in supporting profitable growth and retention within Old Mutual Group Risk by delivering technically sound, market-competitive pricing for new business tenders and renewals of existing schemes.

The role requires strong understanding of group risk themes and market dynamics, comfort in engaging and influencing senior stakeholders, and a self-starter mindset with the ability to work independently (owning deliverables end-to-end) while collaborating effectively within cross-functional teams.

Key Result Areas:

Pricing Delivery (New Business & Renewals)

• Screen and analyse new business tenders/quotations and renewal (review) requests; gather, validate and interrogate scheme information to support accurate and defendable pricing decisions.

• Price large and complex group risk arrangements, ensuring retention of profitable business and that new business is written on a competitive yet financially sound basis (including appropriate margins, expenses and profit targets).

• Prepare clear pricing recommendations and supporting rationale, aligned to governance and delegated authority frameworks.

Experience Analysis & Pricing Basis

• Compile, analyse and monitor claims experience for new and existing schemes; maintain and refine experience-rating methodology, assumptions and bases in line with emerging experience and market themes.

• Identify drivers of claims and profitability and translate insights into pricing actions, underwriting inputs and portfolio recommendations.

Tools, Data & Automation

• Develop, enhance and maintain pricing tools/models and supporting documentation to improve accuracy, efficiency and control; automate repeatable workflows where feasible.

• Extract, validate and manipulate member and scheme data from relevant systems; maintain accurate records for reporting/MI and contribute to identifying data and process enhancements.

Stakeholder Engagement, Governance & Commercial Impact

• Engage with internal stakeholders, intermediaries, reinsurers and other partners, including influencing and challenging senior stakeholders where required.

• Manage profitability and volatility considerations of the portfolio, including reinsurance structures and referrals where applicable, and contribute to pricing governance forums and sign-off processes.

• Drive continuous improvement of pricing and business processes to support service delivery (including turnaround times/SLA adherence), quality control and effective stakeholder communication.

• Ensure compliance with pricing, model risk and governance requirements (including audit trail and documentation) and support Treating Customers Fairly (TCF) through appropriate terms, conditions and decision rationale.

Skills, Knowledge, Qualifications and Experience required:

Qualifications & Experience

• Relevant degree (Actuarial Science, Mathematics, Statistics, Finance/Commerce) and/or actuarial student making good progress with actuarial exams (exceptional candidates who don’t meet this requirement may be considered).

• Minimum 5 years’ experience in an insurance/employee benefits environment; group risk pricing/tenders/revisions experience is strongly preferred.

• Strong exposure to group risk products and pricing concepts (e.g., disability, life, funeral, critical illness where applicable).

• Advanced Excel skills; VBA/SQL/MS Access (or similar data tooling) is an advantage.

• Self-starter with the ability to plan and execute tasks/projects within agreed timelines with limited guidance, while working effectively within a broader team.

• Strong communication and stakeholder management skills; comfortable engaging, challenging and influencing senior stakeholders, intermediaries and cross-functional teams.

Competencies:

• Business and commercial acumen

• Pricing expertise and analytical judgement

• Stakeholder influence and communication (incl. senior stakeholders)

• Accountability and delivery focus (self-managed)

• Collaboration and teamwork

• Continuous improvement, innovation and automation mindset

Skills

Computer Literacy, Data Compilation, Data Controls, Executing Plans, Information Management, Insurance Product Management, Insurance Sales, Legal Practices, Numerical Aptitude, Risk Management

Competencies

Action Oriented

Balances Stakeholders

Builds Networks

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

14 May 2026 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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