Product Development Actuary

Introduction

Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.

We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms the Momentum Group provides practical financial solutions for people, communities and businesses.

Disclaimer

As an applicant, please verify the legitimacy of this job advert on our company career page.

Role Purpose

Design, develop, price, and manage life insurance products end-to-end, providing actuarial insight that drives product strategy, commercial performance, and customer outcomes.

Requirements

• Qualified Actuary (e.g. FASSA, FIA, etc)
• Minimum 3 - 5 years actuarial experience, preferably in life insurance
• Experience with the development and maintenance of life insurance actuarial models
• Proficiency in MS Office, SQL, and working with large datasets
• Strong communication, storytelling and stakeholder engagement skills

Duties & Responsibilities Internal Process

• Contribute to and support the full product lifecycle: ideation, design, pricing, launch, and ongoing management
• Develop and maintain pricing and profit-testing models, including assumptions and sensitivities
• Define product structures, benefits, and rules aligned to target market needs
• Support the translation of business requirements into clear system specifications for implementation
• Monitor product performance and recommend enhancements based on experience, trends, and feedback
• Conduct competitor analysis to inform product positioning and pricing strategies
• Support and contribute to product governance forums (e.g. product approval committee)
• Support compliance with statutory and regulatory requirements, including actuarial reporting standards
• Identify and manage product-related risks, including pricing, experience variances, and operational risks

Stakeholder

• Collaborate effectively across Product, IT, Operations, Distribution, Finance, Corporate Actuarial and Risk teams
• Translate technical product design into clear value propositions for advisers and clients
• Support distribution teams with technical product positioning and competitor comparisons
• Contribute to improving customer outcomes and ensuring fair treatment of clients (TCF)
• Contribute to a culture of innovation, continuous improvement and influence business transformation

Finance

• Take accountability for product profitability and financial performance
• Provide input into business cases for new products and enhancements
• Ensure pricing and product structure support capital efficiency and financial reporting frameworks (e.g., SAM, IFRS)
• Identify opportunities to improve operational efficiency and cost-effectiveness

Competencies

This role represents a shift from actuarial support towards product ownership, combining technical actuarial expertise with commercial, customer, and strategic accountability across the product lifecycle.