About Us
Established in 1988, Rest is one of Australia’s largest profit-to-member superannuation funds.
We support nearly two million members, with around $75 billion of funds under management and are recognised as a responsible investment leader*. We believe when members understand and engage with their super, they’re more likely to get a better retirement outcome.
Everything we do at Rest is underpinned by our values and behaviours, we want to Be Daring, Keep it Simple, Take Action and Have Grit. To put it simply we want our people to thrive and love the work they do.
About the Job
The responsibility of this role is to support the Senior Manager, Actuarial Services and General Manager, Actuarial Services in carrying out actuarial valuations, business planning, advice and insights to drive intelligent, commercial outcomes for Rest’s Insurance Group. Reporting to the Senior Manager or General Manager, Actuarial Services this role will support the provision of strategic analytical advice and support relating to negotiations and decision making in the group insurance pricing under the Premium Adjustment Model (i.e. profit-sharing group insurance), Insurance Reserve monitoring and forecasting.
- Overall responsibility for supporting financial management of the insurance premium costs and insurance reserving. You will be responsible for analyzing and interpreting financial data related to insurance premiums and reserves, as well as identifying trends and opportunities for improvement.
- Supporting the Premium Adjustment Model process. Prepare independent loss ratio analysis, validate insurer’s loss ratio assumptions, methodology, negotiate with insurer on forward adjustments for best estimate pricing and review annual APA calculations on an annual basis.
- Quarterly loss ratio reporting. The results are presented at Product Impact Forum (PIF) to Rest senior leaders.
- Monitoring insurance reserving including forecasting balances based on prevailing claims and premium experience. The results are presented at Product Impact Forum (PIF) to Rest senior leaders.
- Monitoring and reviewing group insurance pricing assumptions, actual claims expense and premiums
- Data analytics using database including R and/or SQL
- Developing trend analysis for claims expenses and premium based on prior experience
- Developing appropriate monitoring and reporting framework for financial aspects of groups insurance expense
- Assisting with members best financial interest analysis for insurance expenditure
- Support decision making on insurance premium pricing and terms with Groups external insurer including for corporate tenders
- Assess and review exposure under the Premium Adjustment Model adopted by the Group. As a responsible and accountable member of the team, your role would involve not only conducting assessments and reviews under the Premium Adjustment Model, but also providing recommendations for any necessary adjustments to be made based on your findings. You would be expected to communicate these recommendations clearly to relevant stakeholders, and work collaboratively with others to ensure that any necessary actions are taken in a timely and effective manner. Ultimately, the outcome of your assessment and review would have a significant impact on the overall financial performance of the Group,
- Build strong working relations with key internal and external stakeholders to ensure business objectives are met.
