Product Manager – Employee Benefits (Actuarial)

About the role

FirstRand is seeking a dynamic and commercially astute Product Manager to join its Employee Benefits division at FNB in Johannesburg. The role blends actuarial expertise, product management and marketing insight to drive innovation and sustainable growth across Group Risk, Fund Administration and Umbrella Investments.

Key responsibilities

• Provide actuarial support and insights for product strategy, pricing philosophies and portfolio optimisation.
• Lead product development and innovation initiatives across the Employee Benefits spectrum.
• Identify growth opportunities and recommend strategic actions to enhance portfolio performance.
• Analyse portfolio profitability, customer outcomes and overall business performance.
• Assist with reinsurance, capital management and risk optimisation analyses.
• Serve as the primary actuarial subject‑matter expert for business units.
• Define and oversee technical marketing strategies for Employee Benefits solutions.
• Collaborate with Distribution, Marketing and Segment teams to craft value propositions and support sales.

Required profile

• Bachelor's degree in Actuarial Science (NQF Level 7) with progress towards ASSA qualification.
• Minimum 5 years of experience in actuarial, product management or Employee Benefits roles.
• Proven experience in actuarial pricing, profitability analysis, portfolio management and product development.
• Strong stakeholder engagement skills and ability to influence senior decision‑makers.
• Commercial acumen, strategic thinking and a customer‑centric approach.

Required skills

• Python
• R
• Excel
• Actuarial modelling
• Data analysis