Microinsurance_Executive: Customer & Product

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Job Summary

10 – 15 years in a corporate or commercial banking role, building trusted relationships with internal and external stakeholders. Experience in setting a vision for long-term organisational success at regional business level and proven track-record implementing respective strategic plans
Exposure at an Executive Committee level, contributing to the development and execution of business strategic objectives, plans and policies
Experience engaging internal and external stakeholders at the highest levels, including Board members and senior executives, to build and manage key relationships
Track-record building and maintaining commercial corporate client relationships (corporates, multinationals, global) across multiple sectors and geographies
Has operated within periods of both sustained economic growth and turbulence, in a sector that is highly regulated, competitive and going through transformation.
Develop the product strategy, portfolio shape, commercial agenda and drive the full lifecycle for new and existing microinsurance products and services to deliver a compelling and market competitive value proposition that support the financial inclusion agenda and sustainable growth for Micro Insurance. The role is accountable for end to product ownership while partnering with cross functional teams to build a scalable and customer centric micro insurance business from the ground up.

Job Description

Accountability: Strategy Formulation & Execution  

• Develop the product and proposition management strategy incorporating the use of market analysis and data from product conceptualisation, design, financials, commerciality, development, implementation and go-to-market planning.

• Translate insights into clear product strategy concepts and roadmaps.

• Includes the formation of integrated proposition development incorporating products, services and proposition across product houses and clusters (where required)

• Provide Pricing strategy input & direction

Accountability: Product Design, Customer Primacy & Digital Adoption  

• Drive customer primacy through the formulation and management of compelling micro insurance products product propositions and product offerings.  

• Collaborate with functional and enabling teams to ensure affordability, simplicity, and regulatory compliance.

• Ensure products meet regulatory requirements and customer needs. This includes preparing regulatory submission documents and supporting engagements with FSCA/PA.

• Manage Product performance and customer feedback to ensure delivery against strategic objectives

 Accountability: Operations Management, Sustainability & Good Governance  

• Ensure the operationalisation of existing and new initiatives in a cost-effective, operationally efficient and timely manner to ensure speed to market and commercial viability. 

• Drive Product/position simplification/rationalization to ensure remains relevant and fit for purpose

• Using extensive market data and trend analytics, understand the product make-up mix and offerings that would ensure future sustainability and growth including the explorations of next generation predicts and propositions. 

• Provide steer into effective product management and product life cycle management for sustained   product and customer growth

• Drive governance, risk mitigation and compliance in all phases of product proposition, development, delivery and management including the change process. 

• Ensure adherence with all regulatory requirements and standards in all phases to prevent non-compliance

Accountability: Client Driven Innovation & Change   

• Accountable for the exploration, introduction and implementation of innovative new products and services, through driving of change initiatives through BOW prioritization

• Ensure that Customer experience standards are aligned to the product/proposition

• Drive the conceptualisation, design, build and development of products and propositions to ensure uptake and usage via the digital platforms thus driving digital adoption.

• Define digital requirements for onboarding, policy administration, servicing, and claims for low‑touch micro‑insurance models.

Accountability: Commercial Management & Performance Monitoring

• Monitor product performance across take‑up, loss ratios, persistency, claims behaviour, channel productivity, and customer feedback.

• Identify early‑warning indicators and recommend actions to maintain commercial viability.

• Support budgeting, forecasting, and reporting of product‑level financials.

Accountability: Cross‑Functional Leadership & Stakeholder Collaboration

• Partner with internal and external stakeholders in building internal and external partnerships, including evaluating new partnership opportunities.

• Collaborate across functions and business to ensure product alignment and delivery.

• Manage operational relationships with ecosystem partners to drive adoption and efficiencies.

• Provide subject‑matter expertise in governance forums and contribute to business cases for product enhancements or new propositions.

• Ensure adherence to risk and compliance standards in all product-related activities.

  

Accountability:  Leading Talent & Capability Building

• Coach, mentor and manage team members toward driving business objectives and ensuring colleague development.

• Maintain and drive strong operational and solutioning capabilities within the team to deliver on evolving customer and market requirements.

• Drive colleague experience and stability and create a culture of continuous improvement

• Foster a high-performance culture and talent development within the team including promoting diversity, equity, and inclusion within the team.

• Own people risk management, monitor metrics, and implement corrective actions for the team

• Ensure effective execution of performance development standards.

• Co-develop and resource a learning strategy aligned to business needs.

• Maintain and update succession plans for key roles.

• Embed and meet group transformation objectives.

• Interview and recruit direct reports with People Partner support.

• Review workforce plans and reallocate resources as needed.

• Act on employee survey insights to enhance EVP.

• Support knowledge transfer and coaching of junior team members or cross‑functional partner Contribute to building foundational product management capability within a newly established division.

• Operate flexibly, stepping into multiple functional areas when needed.

Education

Bachelor Honours Degree: Business Management (Required), Master's Degree: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised