Senior Pricing Analyst/Pricing Actuary

Location:Sydney
Job Type:Full Time

Senior Pricing Analyst/Pricing Actuary

  • On-site free gym
  • Flexible work options available

    Welcome to This Australian Life.

    From the millions of Australians we protect, to those that make it happen every day at TAL, people really are what we’re all about.

    TAL needs people who represent our diverse Australian community. People who embrace our spirit and inspire confidence in their colleagues, customers and community. People who are passionate about making the most of the choices and options we provide. People who do what’s right, aim high, and work smart.

    About the Opportunity

    This is a very unique opportunity to be part of TAL’s Commercial Management pricing team supporting and leading a number of key strategic pricing initiatives across TAL’s Retail, Direct, Consumer and Alliances channels. This role will contribute to the successful pricing design and delivery of initiatives for new business and inforce business. The role provides immense exposure and learning opportunities at the largest provider of Individual Risk insurance in Australia.

    This role involves working in a highly collaborative environment with various part of the business by supporting the technical pricing and analysis of business opportunities. This will include articulating design solutions, performing data analysis, pricing model development, and working with both internal and external partners to grow business capabilities.

    The role will be well suited to a senior analyst with experience in the Australian market, or a newly qualified Actuary looking for the next challenge

    In this role you will be responsible for:

  • Lead and drive pricing analysis and insight across a range of propositions for new and existing customers, ensuring that TAL’s Individual Risk products maintain the appropriate balance of market attractiveness, customer benefit and target profitability metrics
  • Development of more advanced pricing techniques to complement existing processes, including regression modelling, clustering and a range of other data science approaches using both internal capabilities and external partners to support capability uplift
  • Deliver on pricing initiatives across the Retail, Direct, Consumer and Alliances channels by:
    • developing and maintaining pricing models, including their incorporation into Valuation processes;
    • preparing actuarial pricing reports and support of LPS320 advice where required; and
    • performing the actuarial testing of the implementation (UAT) of new product and pricing initiatives on the Individual Life administration and quotation systems.
  • Obtain data from multiple sources to support research and the provision of pricing analysis, including external market information, business experts (medical and health officers, claims personnel etc.) and internal data
  • Analyse claims, lapse and sales data in the setting of assumptions and premium rates and to assist with producing business insights design of business initiatives
  • Conduct the financial analysis of potential market/product opportunities including the development of business cases in assessing commercial initiatives

    About You

    To be successful in this role you will have:

  • Ability to solve complex problems and a natural desire to think laterally
  • Minimum 3 years working experience in Life insurance in Australia (or overseas markets with similar products), with experience in either pricing or valuation
  • Strong modelling capabilities and analytical skills
  • Experience with a range of tools and applications including Prophet (strong skills preferable), R, SQL and VBA
  • Completion of Part I and Part II Institute of Actuaries course (or equivalent) and currently undertaking Part III working towards full qualification. Newly qualified actuaries are also considered.
  • Ability to think creatively and innovatively to deal with technical challenges

Ability to work and communicate effectively with others and manage stakeholders, including less technical colleagues

Work is a big part of this Australian life, and we work hard to make it one of the best parts. We want our employees to work in ways that suits their life and the nature of their role, so they feel able to meet their work life commitments and support their wellbeing. Everyone’s welcome to work for us – regardless of their age, ethnicity, religion, sexual orientation, gender identity, intersex status or any disabilities they might be living with.

We know it’s the people we work with and experiences we share that make work meaningful and fulfilling, and we’d love for you to be part of it.

You don’t have to be an artist, adventurer, doer or dreamer, but it really helps.

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