Business Owner: OM Rewards

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Job Description

As the Business Owner for our Old Mutual Rewards offering, you will hold ultimate accountability for the end-to-end delivery of the Old Mutual Rewards programme. Your primary purpose will be to empower and reward customers for taking positive steps to improve their financial wellness.

This role demands a visionary leader who can develop the vision and strategy of the Old Mutual Rewards Programme and oversee every aspect of the rewards lifecycle and drive it towards achieving its strategic goal of increasing customers lifetime value while improving customer financial wellbeing.

This role reports to the Executive Head: OM GRID. OM GRiD is a portfolio within Old Mutual. Our aim is to make our customers financial wellness journey accessible, practical and joyful. We will do this by providing tailored guidance and rewarding consumers when they take appropriate steps to improve their financial wellness.

• Strategic Planning and Vision:
• Develop a clear vision and strategy for Old Mutual Rewards in alignment with the Old Mutual IFS Strategy and its definition of financial wellness.
• Develop the Rewards proposition and manage the program economics to ensure that its financial contribution objectives are in line with the agreed purpose.
• Manage stakeholders to ensure strategic alignment of stakeholder interest with the overall vision and objectives of Old Mutual Rewards
• Identify market trends, customer needs, advisor needs and competitive landscape to inform strategic decision-making.
• Stay abreast of industry developments, emerging technologies, and best practices related to rewards programs.
• End-to-End Ownership:
• Design, builds and run the OM Rewards Program
• Manage the Rewards Programs economics and articulate the funding model.
• Access funding to run the Rewards Program
• End to end accountability of the OM Rewards Program value chain.
• Owns the rewards architecture.
• Design, build and runs the earn proposition.
• Design, build and runs the usage proposition.
• Ensure the commercial success of the OM Rewards Program
• Partnership Management
• Customer Engagement and Satisfaction:
• Champion customer-centricity by understanding and addressing the needs and pain points of our users.
• Implement mechanisms (NPS and SUS) to gather feedback and measure customer satisfaction, iterating the program accordingly.
• Team Leadership and Collaboration:
• Build and lead a cross-functional team responsible for bringing the Rewards vision to life.
• Foster a collaborative and innovative work culture, empowering team members to excel in their respective roles.
• Drive Cultural Transformation required for the digital transformation of Old Mutual Limited
• Risk Management and Compliance:
• Ensure the program complies with relevant regulations and industry standards, particularly regarding data privacy, Inducement, and financial security.
• Proactively identify and mitigate risks that may impact the program performance or reputation.
• Ensure the Rewards Legal Entity is managed appropriately and fulfills its obligations

Minimum Requirements

• Bachelor's degree in business administration, finance, actuarial or a related field (MBA preferred).
• 10+ years experience in rewards/product management or related field.
• Proven track record of successfully launching and scaling rewards programs, preferably in the financial services sector.
• Strong business acumen with a deep understanding of products and consumer behaviour.
• Proficiency in Agile frameworks, with a minimum of 3 years experience in Agile Delivery.
• Exceptional leadership abilities with experience leading cross-functional teams and driving collaboration.
• Excellent communication and interpersonal skills, with the ability to articulate complex ideas and influence stakeholders at all levels.
• Strategic thinker with a results-oriented mindset and a passion for driving innovation and positive change.
• Analytical mindset with proficiency in data analysis and interpretation, leveraging insights to inform decision-making.

Skills

Education

MBA (Required)

Closing Date

27 April 2024

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.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutuals Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

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