Chief Executive Officer (Metropolitan Retail) MMH261002-14

Role Purpose

Reporting directly to the Group Chief Executive Officer (GCEO), this role is a critical senior Executive appointment with group-wide strategic influence and accountability. The CEO of Metropolitan Life will operate beyond the scope of leading the business unit. In addition to shaping and delivering the strategy and performance of Metropolitan Life, this executive will be expected to make a meaningful contribution to the overall strategic direction, competitiveness, and future performance of Momentum Group. As a formal member of the Group Executive Committee (Group Exco), the CEO of Metropolitan Life will play an active role in shaping the Group’s strategic agenda, influencing Group level financial outcomes, and bringing forward industry insights that strengthen Momentum Group’s long-term positioning. This CEO will therefore need to operate at a highly strategic, enterprise-wide level, balancing the stewardship of their business unit with the broader responsibilities of Group executive leadership and Momentum Group Board engagement.

Within the Metropolitan Life business, the CEO is responsible for providing strategic and operational leadership to the business, with accountability for defining and executing the business strategy, delivering sustainable growth and performance across the full value chain. This includes driving innovation, elevating operational excellence, strengthening market leadership, and accelerating long-term profitable growth. The executive will champion a high performance, client centric, digitally enabled business that delivers exceptional stakeholder value, strengthens governance, and remains responsive to changing client expectations and industry dynamics.

The successful candidate will bring strong commercial judgement, deep knowledge of the South African financial services industry, and the ability to lead a complex business while contributing meaningfully across a federated financial services Group, positioning Metropolitan Life as an industry leader.

Requirements

• A postgraduate qualification in Business management, Insurance or related field.
• Professional qualification i.e. qualified Actuary, CA (SA), MBA would be advantageous.
• At least 10 years’ executive leadership experience, including accountability for significant commercial and operational outcomes.
• A strong track record in the South African financial services or insurance advice and distribution market.
• Deep understanding of the South African insurance industry and its regulatory environment, with a particular emphasis on the relevant advice environments.
• Experience across adviser-led and associated digital distribution models.
• Deep understanding of the strategic challenges facing the advice industry in South Africa.
• Proven accountability for strategy, sales growth, financial performance and business transformation.
• Experience leading a large, complex and regulated business.
• Experience contributing to enterprise-level strategy as a member of an executive committee would be advantageous.

Duties and Responsibilities

Drive the product development, sales, distribution and servicing of retail clients

• Drive continuous enhancement and rigorous management of the product portfolio, ensuring solutions remain competitive and relevant to evolving client needs.
• Oversee cost optimisation initiatives and robust profitability analysis to maximise value creation while maintaining product integrity and market alignment.
• Proactively identify opportunities for innovation and improvement, implementing strategies that balance operational efficiency with exceptional client outcomes.
• Steer cross-functional collaboration to deliver products that anticipate market trends and exceed stakeholder expectations.
• Oversee the creation, implementation and maintenance of Client Value Propositions (CVPs), products and solutions in order to diversify the product offering and profitability.
• Keep abreast of best practices and competitor landscape in order to inform the development of strategies and tactics that enhances Metropolitan Life’s position in its industry.
• Oversee product development and the management of products and solutions based on the CVP and Momentum Group’s purpose.
• Develop and oversee the implementation of competitive pricing strategies to drive short-term profitability and long-term business growth and shareholder value.
• Drive the continuous compliance to organisational policies, practices and procedures in order to ensure compliance to relevant legislation and statutory regulations.
• Drive the optimisation of operational strategies in order to eliminate inefficiencies and streamline operations in to ensure clients receive optimal service.
• Identify opportunities to leverage strategic relationships and alliances to build new channel, distribution or growth opportunities.
• Drive the achievement of sales targets and implement tactics to optimise cross- and up-selling
• Identify and explore new channels, opportunities to expand existing channels and business development opportunities, and align the marketing programmes closely with sales and business objectives.
• Oversee the creation and maintenance of a client engagement strategy that optimally engages with and provides services to clients.
• Implement and manage practices that continuously grow the market and position the message through the correct mediums and channels.
• Oversee marketing and communication initiatives that position Metropolitan Life products in the market.
• Lead functional leaders in developing operational targets in support of tactical delivery plans and organisational strategic objectives.

Drive client centricity

• Deliver an integrated and innovative client experience, keeping the entire value chain in mind – including impactful client journeys and aligning offerings with evolving needs.
• Promote a culture of client obsession and excellence.
• Define service delivery operational standards, measures and targets in line with client requirements.
• Oversee the implementation of client-centric claims and service processes that enhance the client experience.
• Assess service delivery gaps and challenges and implement remedial strategies.
• Maintain a competitive edge through active networking, benchmarking and thought leadership across industry forums.
• Drive the effectiveness of channels and distribution by regularly evaluating and refining multi-channel strategies, ensuring seamless integration between direct, intermediary, and digital distribution routes.
• Collaborate with key partners to expand market reach, optimise channel performance, and adapt to shifting client preferences.
• Leverage data-driven insights to identify new distribution opportunities and ensure that all channels align with the organisation’s value proposition and customer experience objectives.
• Renew the strategy, operational business model and execution plan to win market share and improve VNB.

Drive sound financial and corporate governance practices

• Drive the achievement of sales targets across products and market channels to achieve set strategic financial goals.
• Ensure that the functional strategy is adequately budgeted for through the development and implementation of a fit-for-purpose budget.
• Influence pricing models across product sets and service solutions in line with profitability targets and optimisation initiatives.
• Monitor and track expenditure and pricing models to maximise cost-benefit ratios in the context of own functional value chain.
• Drive the development and implementation of governance, compliance, integrity and ethics frameworks throughout the functional area.
• Ensure knowledge of alignment to and compliance with King V.
• Influence the consolidation of the risk profile for own functional area, manage critical risks and ensure resolution feedback to all parties.
• Influence the implementation of effective financial control, management of costs and corporate governance in functional area of accountability.
• Monitor legislative and regulatory changes and drive the alignment of own function's operating model.

Market and stakeholder leadership

• Establish strong, trust-based relationships with key internal and external stakeholders to foster strategic alignment and drive long-term value creation.
• Ensure success through stakeholder satisfaction, strategic partnership growth and the effectiveness of stakeholder communications.
• Engage actively in industry forums and regulatory bodies (e.g. ASISA) to protect the company’s reputation and license to operate.
• Position Metropolitan Life as a trusted leader in the financial advice and distribution ecosystem.
• Represent the organisation in relevant industry, regulatory and stakeholder forums.
• Build trusted relationships with the Board, Group Exco, regulators, industry bodies, business partners and other key stakeholders.

Digital and technology enablement

• Identify and drive critical digital and technology initiatives and investments that will innovate the business value chain and deliver essential efficiencies.
• Champion the adoption of emerging technologies to streamline operations, enhance the efficiency of claims processes, enhance client experience, and reinforce Metropolitan Life’s position as an industry leader.
• Collaborate with cross-functional teams to ensure technology strategies are aligned with overall business objectives and support sustainable growth, with a specific focus on the integration of artificial intelligence to manage the cost base of the business and enhance processes.

Governance and risk

• Ensure that the business operates within applicable legal, regulatory, governance and risk-management requirements.
• Maintain effective oversight of material business, conduct and operational risks.
• Promote ethical leadership, sound judgement and transparent decision-making.
• Protect the organisation’s reputation and licence to operate.

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