Closing Date:
28/10/2024
Job Type:Permanent - Full Time
Location:Sydney office
Job Category:Shared Services
Job DescriptionThe Senior Actuary – Corporate will be a key role in the NobleOak actuarial team.
This role will have key involvement in the development and implementation of actuarial disciplines in a fast-growing team, with a particular focus on driving valuation and corporate actuarial activities.
This role will be responsible for the delivery of quality financial information in conjunction with the Head of Actuarial, other Senior Actuaries, CFO and Finance Team, ensuring that best estimate assumptions and future projections support strategic and operational planning.
Key AccountabilitiesValuation:Lead the actuarial components of the product financials in valuation exercises, and integrating the actuarial function into financial reporting, capital planning, asset and liability management and tax processes.
Drive continued uplift and improvements in the underlying models used by the team.
Reporting & Reviews:Support the Head of Actuarial in the development and production of accurate management reporting to enable better understanding of critical business indicators and as a basis for relevant decision making.
Ensure the Actuarial Valuation Report and Financial Condition Report are prepared annually by the Appointed Actuary and ensuring these are submitted to APRA.
Deliver the annual best estimate assumption reviews, considering internal experience and industry data.
Strategy and Delivery:Assist in the development of strategy and business direction by contributing to financial planning, forecasting revenue, determining levels of provisions and reserves, and other activities to support the implementation of NOL strategic goals.
Data Management, Processing and Validation:Support the management and validation of policy and claims data to support its accuracy and integrity.
Risk Assessment and Mitigation:Support the actuarial function in assessing and mitigating insurance and financial risks associated with NobleOak's products, identifying actuarial risk and compliance issues and reporting relevant matters.
Support a focus on model and data risk across the team, ensuring control frameworks are kept up to date and that they are implemented effectively.
Stakeholder Engagement:Collaborate with cross-functional teams, including products, underwriting, claims, finance, and data.
Contributing in key projects and forums where actuarial input is required.
Key ResponsibilitiesLeadership – Lead by example, displaying clear accountability for results.
Build on a team culture of collaboration, engagement and high performance across the actuarial team, providing direction to individuals on development strategies and proactively addressing areas of underperformance.
Manage and drive positive team meetings, ensuring regular effective two way communication with the team.High Quality and Accurate Communication – Communication with internal and external stakeholders, monitoring information and providing support across the Product, Actuarial and Finance teams when required.Process Improvement – Contribute to drive process improvement and automation in the Actuarial department.
Planning and Execution – Provide input to company-wide planning and issues resolution and help drive the execution of our NobleOak operational plan, including key business initiatives.
Quality Control – Operate as an important quality controller for the business, ensuring all product project processes are delivered in a timely manner ensuring continued high satisfaction rates.
Delivery focus – Understanding and striving to meet or exceed all metrics and KPIs while providing excellent consistent customer service.
Culture Champion – Like all NobleOak roles, this role must be a strong ambassador and champion of the NobleOak high-performance culture and brand values.
Always displaying positivity, energy and integrity, taking responsibility for actions and building on a positive and engaging diverse team dynamic.
Our values and culture are outlined on the back page of this document.
Desired Skills and ExperienceCapabilitiesExpert understanding of life insurance actuarial and valuation concepts, including AASB17.
Strong understanding of Australian Life insurance industry and market, including competitors' products in the direct life insurance market.
Good understanding of the legal and compliance environment of the Australian Life insurance industry.
Strong numerical skills and experience with Excel and actuarial modelling tools.
Strong ability to interpret and analyse relevant data to diagnose issues, trends, and emerging problems.
Good problem-solving capabilities, including lateral thinking, to provide advice and recommended solutions to the issues raised.
Ability to present proposals and solutions at a strategic level.
Good communication skills, both written and verbal with demonstrated management skills and interpersonal skills.
Positive, team-focused and self-motivated.
Experience & Qualifications10+ years' experience in retail life insurance and corporate actuarial roles, ideally with 5+ in valuation specific roles.
Fellow/Associate of the Institute of Actuaries Australia, or equivalent overseas association.
Strong experience in and knowledge of retail life insurance, ideally within the Australian marketplace.
Strong communication and presentation skills and experience working with senior stakeholders.
Strong understanding of the principles of life insurance from first principles and inclination to get involved in commercial decision-making process.#J-18808-Ljbffr
