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Actuarial Analyst, Pricing and Reserving

2 months ago

Sydney, Australia Australian Reinsurance Pool Corporation Full time

**ARPC Position Description**

**Function**:Chief Financial Office **Classification broadband**:ARPC Classification 5/6

**Location**:Sydney **Security clearance**:Baseline

**Role Reports to **(role title)**:Head of Actuarial

**Direct Reports **(role titles)**:0

**Purpose of the role **(Why the role exists; how the role contributes to the ARPC’s strategic objectives)
This role will deliver actuarial pricing, reserving and capital management analysis to support the achievement
of ARPC’s strategic objectives.

**Key Accountabilities** (Key activities, tasks and outcomes to be achieved)***

Pricing and Reserving
- Implement, maintain, and continually enhance actuarial processes under the guidance of the

Actuarial Manager and Head of Actuarial
***
- Design and deliver analysis that supports pricing reviews, liability valuation reports and financial

outlook reports
- Analyse Pool experience to test adequacy of premium rates and appropriateness of risk relativities on

an ongoing basis
- Support the development of new pricing algorithms and premium rates for the insurance industry
- Support in the maintenance and review liability valuation models used to perform outstanding claims
- reserving consistent with actuarial professional standards, and analyse results and outputs.- Provide analysis that supports refinement to the Cyclone Reinsurance Pool design incorporating
- feedback from insurers, external scheme reviews and the reviewing actuary- Utilise ARPC’s unique industry datasets to enhance understanding of natural peril risk in Australia,
- including development of catastrophe models- Provide analysis of mitigation impacts on cyclone costs to assist ARPC achieving pool objectives of
- promoting mitigation and reducing the long-term cost of natural perils in Australia- Develop statistical models to derive insights from cyclone claims events
- Provide actuarial and analytical support to internal ARPC functions such as underwriting, claims, IT
- Maintain ARPC’s premium rating algorithm and premium raters

Risk Management
- Help to ensure sound Risk Management principles and systems are in place within pricing and

reserving practices
- Proactively identify risks, implement mitigating actions and improvements and monitoring outcomes

Other
- Participate in ARPC Corporate projects as and when opportunities arise
- Role model ARPC’s Values and Code of Conduct and capabilities set out in the ARPC’s Capability

Framework

***

**Working Relationships **(Key stakeholders, clients, customers, suppliers, providers, consultants, etc.)***
**Internal Relationships**
- Build and maintain strong relationships with all members of the ARPC team
- Work with senior management and present findings to senior executives

**External Relationships**
- Build relationships with Australian Government Actuary, external actuaries, and external audit
- Develop relationships with catastrophe modellers and government departments
- Support insurers to onboard into the Cyclone Reinsurance Pool and provide ongoing liaison with key

contacts in industry

**Person specification**

**Qualifications and experience**
**Qualifications **(indicate whether mandatory or desired)

of Actuaries of Australia
_Desired_
- Tertiary qualification in Economics, Actuarial Studies, Finance, Statistics or Commerce _Mandatory_

**Experience **(minimum type and level of experience required to perform the role)
- 1-5 years’ experience in the reinsurance, insurance industry or finance sector _Desired_
- Working knowledge of financial services_ (_insurance, reinsurance and/or banking) _Desired_

**Regulatory Responsibilities**

**Public Interest Disclosure Act 2013 (PID Act)**
- ARPC staff must assist the ARPC CEO (or delegate) and/ or the Commonwealth Ombudsman in the

conduct of a PID investigation.

**Privacy Act 1988**
- ARPC staff must adhere to the Australian Privacy Principles and the ARPC Privacy Policy and report

any privacy breaches by any employee or contractor to the Privacy Officer (CFO) and/ or Privacy
Champion (COO) as soon as they become aware of them.

**Freedom of Information Act 1982 (FOI Act)**
- ARPC staff are responsible for notifying and supporting the Information Public Scheme (IPS) Team to
- ensure published website Information is accurate, up‑to‑date and complete.- ARPC ‘owners’ of website content are required to review content on their page(s) at least annually.

**Technical Capabilities **(skills, knowledge, technical or specialist capabilities)
- Experience with a programming language such as SQL, SAS, R, Python
- Knowledge of visualisation tools such as Power BI
- Strong knowledge of the MS Office suite including Word, Powerpoint and Excel
- Strong written and verbal communication skills
- Strong analytical skills with the ability to derive simple insights from complex data
- Strong interpersonal skills with the ability to effectively negotiate and influence
- Ability to build strong relationships with various s

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