Legacy Portfolio Actuary

Are you committed to bringing your best to life every day?

In 2025, MLC Life Insurance is embracing a new brand identity: Acenda.

Under this new brand, we're taking our long-standing heritage into a new era, empowering a brighter future with security and confidence.

Our values-driven business strives for high performance and growth as we look towards the future. As part of the global Nippon Life Group, we will enhance our capabilities and further strengthen our enduring commitment to putting customers at the heart of everything we do. And to support our partners to do the same.

We believe that when people have the support, clarity, and confidence they need, they can do their best work and build a future they're proud of. We encourage our people to take life on – inside and outside of work – to grow and make a real impact for our customers, partners, and each other.

The role

We currently have an opportunity to join our Retirement and Legacy team as a Legacy Portfolio Actuary in a permanent position. This opportunity is open to work from Melbourne in conjunction with our hybrid work from home options.

This role sits within the Retirement & Off-Sale team, which is responsible for managing a diverse range of off-sale and legacy product portfolios, including PPP/LCS, Protectionfirst, Bancassurance & Direct (B&D), Mature, traditional, UL/CG, and unit-linked products.

The team also oversees pricing for the legacy portfolio and Acenda's retirement solutions. As part of this team, you will contribute to the strategic management of Acenda's legacy product portfolio, helping to deliver initiatives that enhance its sustainability and alignment with broader business objectives.

You will also support the development of retirement product and value propositions, playing a key role in shaping solutions that meet customer needs and drive long-term value.

Your responsibilities will include:

Legacy Products (Annuities, Unit-Linked, Capital Guarantee and Traditional)

• Regular reporting to the Unit Pricing Management Committee
• Surrender value verification and special calculations for Traditional business
• Development and maintenance of calculations for use in Acenda's systems and calculators
• Regular maintenance of reference data for system calculations
• Monitoring of compliance of surrender values with Life Insurance Act requirements
• Proactively manage risk; meet all policy and compliance requirements; perform controls; adhere to Process and Procedures pertinent to role; and escalate events, issues or breaches as they are identified (risk accountability forms part of all roles, as everyone is responsible for managing risk and compliance).

Retirement Solution

• To carry out all assigned duties in a professional and ethical manner by ensuring compliance with external legislation and internal operating policies and procedures relevant to the position
• Develop pricing tools and databases to provide analysis and reporting for strategic decision making and maintain profitability within the
• Retirement Solutions Product.
• Maintain the pricing processes and infrastructure required to manage the financial, actuarial and operating risks arising from Retirement Solutions Product
• Technical support and mentoring of junior Analysts in the team
• Run smaller ad-hoc pricing projects and initiatives.

About you

• Near qualified or newly qualified actuary with 1yr experience working in life insurance.
• Expert in Microsoft Excel, VBA, and R/other statistical software skill preferable
• Ability to explain technical results to business stakeholders.
• Developing analytical and problem-solving skills
• Good interpersonal skills to influence stakeholders and resolve issues
• Ability to work as part of a team and autonomously, in order to achieve planned goals and objectives
• Ability to work under pressure whilst continuing to make effective decisions
• Ability to build and maintain relationships with internal and external stakeholders
• Ability to work in a fast-paced environment
• Good verbal, written and presentation skills

Bringing our best to life - why join us?

• We do work that makes a genuine difference to our customers, partners and community.
• We have a supportive, inclusive and flexible team culture, including hybrid working.
• We support your growth and development, and careers across our business units and teams that are as unique as our people.
• We reward and celebrate our successes, through our incentive and recognition programs.
• We offer tools, resources and benefits to support your wellbeing, including additional lifestyle leave.
• We connect and celebrate our diversity at work through our social committees and employee groups, and we contribute to our community with paid volunteer leave and through our Reconciliation Action Plan and sustainability commitments.

We celebrate the diversity of our customers and community, and we embed diversity, equity, inclusion, and belonging into how we do business. We encourage applications from people of all backgrounds, cultures, experiences, and identities.

Should an applicant be the preferred candidate, background checks (including Federal Police Checks, Employment checks, ASIC banned and disqualified persons and Bankruptcy checks) will be completed prior to the candidate's employment being confirmed. The outcomes of the background checks do not automatically bar candidates, however they will be assessed against the inherent requirements of the position.