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- Tasks: Lead product development and pricing for St. James's Place, ensuring compliance and client satisfaction.
- Company: Join St. James's Place, a diverse employer committed to the LGBTQ+ community and inclusive practices.
- Benefits: Enjoy a collaborative work culture, mentorship opportunities, and the chance to impact client outcomes.
- Why this job: Be part of innovative projects that shape financial products while supporting your professional growth.
- Qualifications: Must be a Fellow of the Institute and Faculty of Actuaries with relevant experience in product development.
- Other info: UK travel may be required occasionally.
The predicted salary is between 48000 - 72000 £ per year.
This job is with St. James's Place, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community.
The role of Group Products ("the Division") is to develop and lead all aspects of the suite of products and services available to clients of St. James's Place, ensuring they are fairly priced, support business growth and deliver good client outcomes. The main purpose of the role is to provide actuarial expertise to the Divisional Director of Manufactured Products in developing the range of manufactured wrapper products open to new business.
What you'll be doing:
- Ensure that the product design and pricing of SJP products and services open to new business aligns with regulations and legislation, including Consumer Duty.
- Represent the Division on a range of cross-business projects, acting as Subject Matter Expert and monitoring resource to ensure successful implementation.
- In line with corporate objectives and the Division's business plan, contribute to the research, design and development of profitable new products, making recommendations where these will contribute value.
- Provide actuarial support to various team members including the Partnership, third-party administrators and internal teams across business areas including pricing concessions, product functionality, illustrations and other calculations.
- Liaise and maintain relationships with teams across the business and with a range of third party providers.
- Provide figures and analysis to support business decisions.
- Ensure accuracy of illustrations, terms and conditions and product documentation.
- Act as a role model to junior actuaries and actuarial analysts, providing guidance and support.
Who we're looking for:
A superb communicator who values long term relationships, a collaborative and pragmatic approach to finding solutions, a genuine team work ethic with an analytical and mentorship approach to junior members.
Essential Criteria:
- You must be a Fellow of the Institute and Faculty of Actuaries with significant post-qualification experience in product development, pricing, or a commercial function.
- Experience with Key Features Illustrations, charges and costs disclosure requirements, product governance, and other actuarial calculations is essential to ensure accuracy in reporting and decision-making.
- Excellent Excel and IT skills, including the ability to perform detailed financial modelling, data analysis, and pricing calculations.
- The ability to act as a Subject Matter Expert in cross-business projects, particularly in product pricing, product development, and regulatory implementation.
- Demonstrable experience in leading medium-to large-sized divisional projects.
Desirable Criteria:
- A solid understanding of the financial advice landscape in the UK market.
- Excellent written and verbal communication skills or demonstrable experience of writing papers, reports and findings.
Special Requirements:
UK travel will be required on an ad-hoc basis.
Open Products Lead employer: St. James's Place
Contact Detail:
St. James's Place Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Open Products Lead
✨Tip Number 1
Familiarise yourself with the latest regulations and legislation related to product pricing and consumer duty. This knowledge will not only help you in interviews but also demonstrate your commitment to compliance and client outcomes.
✨Tip Number 2
Network with professionals in the actuarial field, especially those who have experience in product development and pricing. Engaging with industry peers can provide insights into the role and may even lead to referrals.
✨Tip Number 3
Prepare to discuss specific examples of your past projects where you acted as a Subject Matter Expert. Highlight your contributions to cross-business initiatives and how they aligned with corporate objectives.
✨Tip Number 4
Brush up on your Excel and IT skills, particularly in financial modelling and data analysis. Being able to showcase your technical proficiency during discussions can set you apart from other candidates.
We think you need these skills to ace Open Products Lead
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in product development and pricing, especially any relevant actuarial qualifications. Use specific examples that demonstrate your expertise and achievements in these areas.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Highlight your communication skills and collaborative approach, as well as your experience with cross-business projects and mentorship.
Showcase Relevant Experience: When detailing your work history, focus on your significant post-qualification experience. Mention specific projects where you acted as a Subject Matter Expert and how you contributed to successful outcomes.
Proofread and Edit: Before submitting your application, carefully proofread your documents. Ensure there are no spelling or grammatical errors, and that your writing is clear and professional. This reflects your attention to detail, which is crucial for the role.
How to prepare for a job interview at St. James's Place
✨Showcase Your Actuarial Expertise
Make sure to highlight your qualifications as a Fellow of the Institute and Faculty of Actuaries. Be prepared to discuss your experience in product development and pricing, as well as any specific projects where you've successfully implemented actuarial principles.
✨Demonstrate Communication Skills
Since the role requires excellent communication skills, practice articulating complex actuarial concepts in simple terms. Prepare examples of how you've effectively communicated with various stakeholders, including junior team members and third-party providers.
✨Prepare for Cross-Business Collaboration Questions
Expect questions about your experience working on cross-business projects. Think of specific instances where you acted as a Subject Matter Expert and how you ensured successful implementation while maintaining relationships across different teams.
✨Familiarise Yourself with Regulatory Requirements
Given the importance of compliance in this role, brush up on current regulations and legislation related to product design and pricing. Be ready to discuss how you've ensured compliance in past roles and how you would approach it at St. James's Place.
