Executive: Rewards

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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
Old Mutual is seeking an exceptional business leader to own and evolve the Old Mutual Rewards Programme; a strategic, Group-wide value engine. This is a true P&L leadership role, accountable for the full commercial performance, strategic direction, and operational delivery of Old Mutual’s rewards programmes.
The Executive: Rewards sits at the intersection of commercial strategy, product innovation, and operational excellence, leading a multi-functional team and managing a complex stakeholder ecosystem to deliver a sustainable programme that delivers on business objectives.
What the Role Owns
The successful candidate will hold end-to-end accountability for the Rewards P&L, including revenue growth, cost control, and margin optimisation. They will define and deliver the rewards strategy, proposition, and competitive positioning; own the programme roadmap and innovation agenda; and lead the partnership ecosystem and shared-value model. Critically, they will ensure clear alignment to broader business objectives and measurable ROI.
The Ideal Candidate
Rewards Industry Experience
The candidate must bring deep rewards expertise spanning both banking and insurance, understanding the distinct customer behaviours, regulatory environments, and commercial dynamics of each sector. They will have a proven track record of building and managing competitive customer value propositions in rewards environments.
Commercial Leadership & P&L Accountability
This is fundamentally a commercial role. The candidate must have been directly accountable for a P&L, with hands-on experience in revenue growth, cost management, margin optimisation, and business case development. They should be comfortable operating as a business owner, not simply a functional leader.
From Concept to Run
A critical requirement is demonstrated experience taking a product or business from concept through to operational maturity, navigating the full lifecycle from ideation, business case, build, and launch through to scaled, sustainable operation. The ability to think in terms of both entrepreneurial ambition and disciplined execution is essential.
Multi-Functional Team Leadership
The candidate must have led sizeable, diverse teams across multiple disciplines, with clear evidence of mobilising people behind a shared vision. They should be known for their ability to build culture, develop capability, and drive performance in complex organisational environments.
Complex Stakeholder Management
The candidate must demonstrate a track record of navigating and influencing complex stakeholder environments within large, matrixed organisations. This includes managing executive-level relationships, aligning diverse business units behind shared objectives, and sustaining credibility and momentum across competing priorities and agendas.
Resilience in Changing Organisations
Old Mutual operates in a dynamic and evolving environment. The candidate must show clear evidence of having led and delivered through significant organisational change restructures, strategic pivots, cultural transformation, or market disruption. The ability to stay the course, maintain team morale, and drive outcomes amid ambiguity is essential.
Given the scope of this role, candidates must have meaningful exposure to and confidence across the following functions:

• Product – roadmap ownership, feature development, innovation
• Operations – customer support, service quality, operational efficiency
• Fraud – fraud prevention strategy and management
• Risk – programme and operational risk management
• Governance – policy, standards, and business unit-level governance frameworks
• Value Management – value attribution, economic modelling, partner ecosystem optimisation.

What You Need to Bring:

• A 3 year Business qualification, MBA preferred
• 10-15 years + senior leadership professional
• End to end P&L, commercial product leadership, strategy development and financial services background
• Large scale investment in partner ecosystems, long term business performance
• Deep leadership experience – proven track record leading multi-functional teams in senior roles
• Rewards experience – substantive expertise in loyalty or rewards, across both banking and insurance
• Commercial experience – direct P&L accountability and a demonstrable commercial track record
• Product development experience – having taken a digital product or business from concept through to operational maturity.

Why You need to Join Us:
In addition to our competitive comprehensive pay and benefits; this role brings a rare opportunity to lead a Group-wide programme with genuine strategic influence, real commercial accountability, and the scope to shape how millions of South Africans experience rewards. The role offers the platform to build, innovate, and leave a lasting imprint on one of the country's leading financial services organisations.
Skills
Action Planning, Adaptive Mindset, Building Rapport, Campaign Management, Customer and Market Analysis, Customer Feedback Analysis, Customer Segmentation Analysis, Data Management, Identifying Customer Needs, Knows the Buying Influences, Manages Buyer Indifference, Manages Resistance, Market Research Data Analysis, Media Management, People-Focused Approach, Planning and organisational skills, Presenting Solutions, Strategic Planning, Target Market Identification, Verbal Communications
Competencies
Balances Stakeholders
Builds Effective Teams
Business Insight
Collaborates
Communicates Effectively
Customer Focus
Drives Vision and Purpose
Ensures Accountability
Education
NQF Level 9 – Masters: Business (Required)
Closing Date
18 September 2026 , 23:59
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
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