Head Employee Benefits Consulting

Role Purpose

To enable the Momentum Consultants and Actuaries' Employee Benefits Consulting and Actuarial business growth strategy through ongoing client and consultant engagement. To take a leading role in creating and participating in direct business development initiatives and the development of the overall consulting strategy applied nationally. To drive cost efficiencies and growth, through refined Client Value Propositions CVP for the overall growth of the business. To embrace and promote the group's vision to build and protect our clients' financial dreams.

Requirements

• Relevant Bachelor's Degree
• Professional qualification CFP, CA, Actuary, CFA, legal etc
• RE1 and RE5
• At least 10 years' experience within an employee benefits environment of which at least 5 must be in a management oversight role
• Relevant retirement fund and/or employer solutions experience
• In depth understanding of local financial laws, practices and regulatory requirements.

Duties & Responsibilities

STRATEGIC

• Provide strategic direction to the business and the team to drive the digital transformation agenda of the business, delivering fit-for-purpose and future-fit solutions.
• Drive the development of a comprehensive employee benefits consulting and actuarial consulting strategy that will enable and grow the Employee benefits consulting and actuarial business.
• As a Key Individual, oversight of governance issues as required by the FAIS Act and FIC Act and participation in the KI Forum and support the implementation of the Risk Management Compliance Programme.
• Ensure execution on the strategy that will include inter alia the following:
  • Oversight of the technical forums for continuous improvement and training of employees.
  • Oversight of the development of standard agendas for umbrella and stand-alone clients covering all the relevant topics.
  • Driving the development of a comprehensive consulting matrix in order to have a single view on all clients and relevant consulting matters and ensuring quality service delivery.
  • Driving the research required to enable best practices in a consulting environment.
  • Participating in driving innovation in terms of digital experience and delivery of employee benefits practices on a digital basis.
  • Driving quality, setting standards and ensuring measurement of services delivered to clients.
• Collaborate with internal and external stakeholders to ensure the effective conceptualisation, design, development and execution of the CVP.
• Support collaboration and innovation initiatives across the various segments, channels and product houses in order to address the needs of employees and that of their clients.
• Work hand in hand with Principal Consultants to enable them to effectively advise all clients of any relevant legislative and/or compliance related requirements and developments, as well as to assist with clients' risk and compliance management needs.
• Embedding legislation and regulatory changes by ensuring that clients' rules, practices, processes and policies are implemented to ensure compliance with relevant legislation.
• Ensuring the maintenance of rules, or special rules in the case of an umbrella fund, of our retirement fund clients, including drafting of rule amendments and submission to relevant authorities, as and when required.
• Conducting all liaisons of a legal or compliance nature with the relevant regulatory authorities for and on behalf of our retirement fund clients.
• Assisting with drafting of complex responses to adjudicator claims.
• Retain and build a portfolio of clients.
• Contribute to the process of negotiating objective and realistic service level agreements with internal and external stakeholders, monitor appropriateness and recommend adjustments in order to achieve client centricity.
• Make recommendations to improve client service and fair treatment of clients and their employees within the area of responsibility.
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.
• Oversee the assessment and analysis of service delivery gaps and challenges and implement remedial action strategies.
• Manage the development and implementation of quality management processes which ensure service delivery is line with the client and their employee's expectations and requirements.
• Develop effective short, medium and long-term operating strategies and plans in order to retain clients and grow market share.
• Actively promote the Momentum Consultants and Actuaries brand by participating in conferences, writing articles and partaking in interviews with media representatives.
• Contribute to sustaining a competitive edge through external networking and benchmarking and representation on related forums.
• Manage the delivery on financial objectives in area of responsibility.

CLIENTS

• Build and maintain effective business relationships with all key stakeholders through regular interactions, fostering strong partnerships and collaboration across the organisation.
• Stay updated on trends, legislation, and best practices in the Employee Benefits space ensuring compliance with current and effective practices that support business needs.
• Assess service delivery through regular interactions with stakeholders, evaluating effectiveness, and identifying areas for improvement to enhance service delivery and stakeholder satisfaction.
• Build and maintain relationships with clients and stakeholders that promote cross delivery practice solutions.
• Contribute to sustaining a competitive edge through external networking and benchmarking and representation on related forums.
• Provide authoritative, expertise and advice to clients and stakeholders.

PEOPLE

• Drive an enabling culture that fosters inclusivity, entrepreneurial thinking and prioritising the human experience.
• Promote a culture that enables agile and embraces experimentation, learning, and innovation while promoting continuous improvement.
• Champion an enabling culture that focuses on the employee experience as the most promising competitive advantage the organisation can create, ensuring that all initiatives contribute to cultivating high engagement and performance to achieve the organisations' purpose and strategy.
• Demonstrate exemplary leadership behaviour, through personal involvement, commitment, and dedication in support of organisational values.
• Select and recruit suitably qualified talent in line with Employment Equity principles and MMH values.
• Lead by example by being an advocate for change and highlighting its benefits for important stakeholders and employees.

FINANCE

• Optimise utilisation of competitive advantages in resources, assets, product, solutions and market leadership to promote prospects for business acquisition and retention.
• Identify solutions to enhance cost effectiveness and increase operational efficiency.
• Implement and manage financial risk methodologies, techniques and systems and use it to monitor and report on financial activities.
• Optimally utilise the budget for area, including the authorisation of expenditures and implementation of financial regulations.
• Implement and provide feedback on the effectiveness of risk management, financial, governance and compliance policies, practice and procedures preventing illegal, unethical or improper conduct and manage governance and risk exposure liability.
• Investigate reported willful acts of non-compliance to organisation policy and practice and report on findings

Competencies

• Commercial awareness and financial acumen
• Strong market and product understanding
• Ability to match solutions with client needs
• Developing strategies
• Creative thinking and analytical capability
• Networking skills
• Negotiating skills
• Ability to collaborate both internally and externally
• Client relationship mindset