Actuarial Analyst


Summary

The actuarial analyst will play an integral part in the Modelling stream of Genworth Australia’s IFRS17 project.

Responsibilities

The main responsibilities include supporting actuaries to:

  • Work with internal and external actuaries/consultants in developing models required for Genworth’s IFRS reporting.
  • Work in conjunction with Genworth’s data warehouse and IT team for the design, rationalization and testing of the data required for IFRS project and models.
  • Analyze the impacts of the reported profits from the IFRS17 implementations and update the findings to management.
  • Upkeep stakeholder relationships through communicating and interacting with multiple business departments.
  • Maintain applicable documentation for major assumptions and conclusions reached as a result of IFRS model development.
  • Review work conducted by Genworth’s external actuarial/build consultants
  • Adhere to the compliance obligations relevant to your position; perform your duties in an ethical, lawful and safe manner; undertake training as directed by the Compliance Leader; report and escalate compliance concerns, issues and failures; and disclose potential conflicts of interest

Most Frequent Contacts

In addition to others within the department, this role interfaces with other internal functions, including most frequently:

  • Wider IRFS project team including external actuarial consultants.
  • The wider Australian Finance team including the Chief Financial Officer

This role also interacts regularly with external stakeholders including:

  • Data management office(DMO) and business intelligence team
  • The Australian Risk team including the Chief Risk Officer
  • APRA (insurance regulator in Australia)

Qualifications – Required

The role is expected to be most suitable for a partially qualified actuary working towards full qualification (FIAA or equivalent) and at least 3 years actuarial experience in total. The role will have a significant “hands on” analytics focus. The successful applicant will likely have most, if not all, of the following attributes:

  • An organized and efficient problem solving mindset with the ability to frame a problem in actuarial/mathematical terms and then apply a sound, practical, actuarial approach to a solution
  • Solid understanding of actuarial and capital regulatory framework.
  • Solid understanding of actuarial and insurance data structure.
  • Experience with general insurance reserving (both long and short tail)
  • The ability to work independently, with initiative, as well as integrate within either technical or cross-functional teams
  • A strong desire to produce high quality analysis and develop sound conclusions as well as fully and accurately document your findings in sufficient detail so that someone else could readily replicate your findings if in possession of the data, model and documentation you have used/created.

Qualifications – Preferred

  • Well-developed skills with statistical packages such as SAS and R.
  • Statistical modeling experience (e.g. GLMs, mathematical statistics, simulation techniques)
  • A strong command of English, both written and verbal, and the ability to gauge how best to communicate with a given audience