Actuarial Specialist

About the Role

Youi is seeking an experienced Actuarial Specialist to join our team and play a crucial part in shaping the future of our CTP reserving and profitability. As a key member of our actuarial team, you will provide strategic advice to drive business decisions made by management and company owners.

This is an exciting opportunity to join a dynamic and growing company like Youi, where you will have ample opportunities for career progression. You will be instrumental in building our CTP reserving function from the ground up, requiring a self-starter with a proactive and entrepreneurial mindset, backed by actuarial qualifications and hands-on experience in CTP (or long-tail classes) and reserving.

You will need strong stakeholder management skills to navigate and influence various parts of the business effectively. We are looking for a doer who thrives in a supportive environment where innovation and impact are encouraged. At Youi, you will find the perfect setting to make a real difference and advance your career in an exciting and collaborative atmosphere.

Key Responsibilities

• Lead the transition of the CTP reserving function from external consultants to the in-house reserving team.
• Support the Actuarial Manager and Appointed Actuary in preparing key reports, including the annual Actuarial Valuation Report and Financial Condition Report.
• Oversee the monthly liability valuation process and contribute data for quarterly and annual statutory/prudential reporting.
• Assist with the annual update of claims handling and risk margin assumptions for year-end and support external auditors with year-end financial reviews.
• Implement improvements for automation, timeliness, and accuracy in reserving and reporting processes.
• Maintain financial journals in compliance with IFRS 17 standards and update reserving processes annually for new reinsurance terms.
• Ensure smooth execution of the Actuarial Control Cycle and ongoing reviews of CTP claims development.
• Collaborate with cross-functional teams to provide insights that enhance portfolio performance.
• Keep key stakeholders informed on significant reserving matters and foster strong relationships with other departments.

About You

• Fellow (or Associate nearing Fellowship) of the Australian Institute of Actuaries or a similar recognised body.
• Relevant experience in actuarial services within the general insurance industry, focusing on reserving (5+ years is a general indicator).
• Preferably experienced in CTP or long-tail reserving.
• Proficiency in SQL, SAS, and ResQ is advantageous.
• Solid understanding of Australian Financial Services regulatory frameworks.
• Meticulous attention to detail with the ability to perform well under pressure.
• Strong time management skills and capability to manage multiple projects.
• High level of integrity and professional accountability.
• Adaptability to change in a fast-paced environment.
• Proactive in identifying risks and opportunities.
• Effective team player with excellent written and verbal communication skills, including stakeholder management.

How to Apply

We would love the opportunity to get to know you better. Get to know a little more about us at youi.com.au and click to learn more about this exciting opportunity.