Actuarial Specialist (Reserving)

About the role

In this role, you’ll play a crucial part in shaping the future of Youi through its CTP reserving and profitability. This strategic advice will help drive business decisions made by management and company owners.

Joining a dynamic and growing company like Youi offers you ample opportunities for career progression. This isn’t just about maintaining the status quo; you’ll be instrumental in building our CTP reserving function from the ground up. Success in this role will require you to be 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’ll need strong stakeholder management skills to navigate and influence various parts of the business effectively. We’re looking for a doer—someone who thrives in a supportive environment where innovation and impact are encouraged. At Youi, you’ll find the perfect setting to make a real difference and advance your career in an exciting and collaborative atmosphere.

Ways of working

We welcome candidates based in Sydney (Pitt Street), Brisbane (Fortitude Valley) or the Sunshine Coast. Our hybrid model requires office presence from Tuesday to Thursday.

Key priorities

• 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

For general enquiries, please contact Laura Wood (Head of Reinsurance) or Bec Sparkes (Talent Acquisition Partner). 

Applications will close on Friday, 20 September 2024.