Job DescriptionThe key purpose of this newly created role is lead the end to end actuarial processes for the Home portfolio of products and the geospa.....
Job Description
The key purpose of this newly created role is lead the end to end actuarial processes for the Home portfolio of products and the geospatial and natural perils capability. This includes overseeing and reviewing technical rate reviews and providing actuarial support to the wider team. The position will coordinate and present findings in detailed reports to Senior Management. To be successful in this role, you should have solid technical skills and an ability to lead a technical team.
Ultimately, the GM will help the team to manage its key processes to ensure ongoing profitability while minimising financial risks, and fostering a data driven culture that focus' on continuous improvement.
Key activities:
Overarching
• Strategically and operationally lead the Home Pricing team, including the Geospatial & Natural Perils team, to deliver high quality actuarial and pricing processes to ensure a holistic management of their portfolio of products and alignment with strategic pricing philosophies to ensure sustainable business performance and influence future business direction.
• Foster collaboration between all teams within Pricing, role modelling appropriate behaviour
• Managing technical pricing, setting priorities and pathways for continuous improvement and providing any other actuarial advice to the wider business.
• Approve and manage pricing releases for products
• Provide valuable advice to the business on pricing performance
• Manage policies and procedures for end-to-end pricing practices
Risk Rating
• Oversee the end-to-end rate review process, including data, modelling, review, implementation and monitoring
• Review and provide quality feedback on risk cost models
• Review and enable effective decisions / selections for risk rating
• Identify and develop processes that provides for continuous improvements to risk rating data and processes
• Understand and communicate changes and expected impact of rate reviews to GMs, Directors and Committees
• Identify, consider and evaluate alternative data sources for risk rating, including rating for natural perils
Rating Engine
• Advise on the best approach to implement complex rating changes
• Oversee the ratebook generation process for delegated products, including release timing, communication and identify potential conflicts
• Identify and develop systems and processes that provides for continuous improvements to the rating engine
Pricing Queries/BAU
• Develop governance and safeguards to mitigate risk of pricing errors
• Appropriately manage changes to pricing in order to reduce volume of pricing queries and mitigate risk of pricing errors
• Oversee monthly reporting and identify opportunities to enhance and automate reporting processes
Other
• Prepare and effectively present complex papers for presentation to Directors or the PUWC
• Engage/communicate with necessary stakeholders for future pricing changes
• Define requirements and manage complex IT changes for Pricing
• Manage and sign-off testing for all business-wide IT changes that impact pricing
• Oversee the automation of commonly used data assets used in the pricing team (e.g. risk extracts, log processing) and enhance the value and utilisation of EDW for pricing
• Contribute to the development of Actuarial Capability for the organisation, including recruiting, training and continual professional development to ensure continuity and minimise key person risk.
What you bring with you
• Experienced Actuary (FIAA or equivalent), with 10+ years of experience in General Insurance pricing
• Clear understanding of statistical modelling techniques, particularly predictive modelling
• Familiarity with Emblem, SAS, R, SQL is advantageous
• People leader
• Strategic and commercial mindset
• Innovative, customer led solution focused
• Strong track record in building teams
• High level knowledge of legislative frameworks
Overseas candidates are encouraged to apply for the role and consideration will be given to visa and relocation support.