Job Summary
This role provides key support to the Australia Chief Financial Officer, Appointed Actuary and ANZ Head of Reserving in financial reporting, capital management and assumption setting responsibilities on the local statutory basis.
The position is permanent full-time based in Sydney.
Financial Reporting
Report quarterly the Australia legal entity insurance liabilities to the regulator APRA
File local entity APRA regulatory returns
Support preparation of the company's annual financial condition report
Support preparation of the company's financial statements
Respond to queries from internal/external reviewers and auditors
Investigate what manual adjustments are necessary to the accounting system outputs and determine their impacts on the actuarial valuation
Verify the consistency, completeness and reliability of the insurance policy and claim data used in the valuation
Identify areas of risk and weakness in technical reserves and develop resolution plans
Develop specific internal control processes for local financial reporting
Adapt the group IFRS17 solution to improve local IFRS17 financial reporting processes
Deliver meaningful business insight of valuation results to senior management and other stakeholders including underwriting, claims, pricing and marketing teams
Capital Management
Calculate regulatory capital
Report quarterly the Australia legal entity capital position to the regulator APRA
File local entity APRA regulatory returns
Develop and improve the model for capital monitoring and forecasting
Evaluate capital impacts of various strategic business decisions including business plans, retrocession arrangements, new and modifications of existing deals
Assist the CRO and CFO in the preparation of the Internal Capital Adequacy Assessment Process (ICAAP) report such as producing projections and scenario analyses
Determine strategies for more efficient capital usage
Assumption Setting
Propose reserving assumptions for valuation of policy liabilities and capital requirements
Estimate financial impacts of assumption changes
Apply actuarial judgement to observed past experience and sparse data in forming views of likely future experience
Take reasonable steps to verify the consistency, completeness and reliability of the data used in and methodology of experience investigations
Consult with others in the business to gain qualitative insight into drivers of experience and potential future developments
Prophet Modelling and Other Projects
Setup and run Prophet cashflow projection models for local IFRS17 calculations
Perform user acceptance testing of model changes as required
Supporting Helios project to align with group data platform and transition to new processes
Experience
Fully qualified actuary of Actuaries Institute of Australia or equivalent professional body, with minimum 5 years post qualification work experience in reserving
Expert knowledge of APRA regulatory standards and guidelines
Superior understanding of IFRS17
Strong time management skills and ability to work collaboratively to tight deadlines
Prior experience in capital modelling
Reinsurance experience, exposure to group insurance desirable
Highly proficient user (coding not required) of Prophet actuarial projection system
Advanced use of Excel
Experience with SQL and Python programming languages desirable
Competencies
Agile, resilient and comfortable with handling ambiguity, shifting priorities, adapts quickly to new information and requirements
Meet tight reporting deadlines
Inquisitive and analytical mindset knowing links between data, systems and processes
Mindset of balancing precision and materiality
Superior actuarial, problem solving, time management skills
Advanced written and verbal communication skills
Enthusiastic, "can do" attitude approach to fast-paced work
Manage the reasonable expectations of stakeholders
Work collaboratively with teams in multiple geographic SCOR locations
Advanced influencing and negotiation skills
Ability to work independently and to work within a team
#J-18808-Ljbffr