About NobleOak:
We’re a challenger brand, with a strong culture and a long history. We’re values driven, successful, fast growing, and have lots of future opportunities. We’re an award-winning, high performing business who invest in our people.
At NobleOak, you’ll be more than just an employee.
Join a close-knit group of motivated and passionate people. We work as one team, support each other and do the right thing by our customers, with nobility at the core of our culture. You will feel truly valued here at NobleOak. We provide regular recognition, the opportunity to develop, and a fun atmosphere where we celebrate our wins together. If this sounds like the workplace and role for you, apply now!
For more information, please visit: https://www.nobleoak.com.au/about-us/working-at-nobleoak/
About the role:
The Senior Actuary – Pricing will be a key role in the NobleOak actuarial team. This role will have critical involvement in the development and implementation of actuarial disciplines in a fast-growing team, with a particular focus on developing and maintaining pricing strategies, models, and frameworks to ensure the profitability and sustainability of NobleOak’s products. This role will be responsible for the delivery of quality actuarial insights to support product development, risk assessment and strategic decision making whilst ensuring regulatory compliance. The Senior Actuary will work closely with the Head of Actuarial, other Senior Actuaries, CFO and Finance Team, and the Product & Insurance team, ensuring that best estimate assumptions and future projections support strategic and operational planning.
Key Accountabilities
- Pricing Strategy and Delivery:
- Drive development of pricing and product strategies.
- Oversee and conduct ongoing reviews of product and pricing of all products to ensure market competitiveness and target profitability are achieved, regulatory requirements are met, and always prioritising member interests.
- Reviewing and approving product pricing and product development.
- Modelling:
- Build, maintain, and monitor pricing models (as required), ensuring documentation of modelling results and changes are kept up to date.
- Conduct other financial modelling (e.g. Embedded Value) work as required.
- Product Development & Enhancement:
- Provide actuarial insights into product development, modifications, and pricing initiatives to ensure NobleOak’s competitive placement in the market.
- Provide recommendations to senior stakeholders to optimise product profitability, customer value, and sustainable business growth.
- Data Management, Processing and Validation:
- Support the management and validation of policy and claims data to support its accuracy and integrity.
- Risk Assessment and Mitigation:
- Support the actuarial function in assessing and mitigating insurance and financial risks associated with NobleOak’s products, identifying actuarial risk and compliance issues and reporting relevant matters.
- Regulatory & Compliance Oversight:
- Drive governance and actuarial advice for product and pricing, with a strong focus on ensuring members interests are forefront.
- Ensure all pricing models that are efficiently and compliantly in-housed.
- Stakeholder Engagement:
- Collaborate with cross-functional teams, including products, underwriting, claims, finance, and data. Contributing in key projects and forums where actuarial input is required.
- Collaborate closely with NobleOak’s reinsurers and partners, assisting with negotiations and other reinsurance liaison as required.
Key Responsibilities
- Pricing – responsible for the quality and accuracy of NobleOak’s pricing processes.
- Leadership – Lead by example, displaying clear accountability for results. Build on a team culture of collaboration, engagement and high performance across the actuarial team, providing direction to individuals on development strategies and proactively addressing areas of underperformance. Manage and drive positive team meetings, ensuring regular effective two way communication with the team.
- High quality and accurate communication – Communication with internal and external stakeholders, monitoring information and providing support across the Product, Actuarial and Finance teams when required.
- Process improvement – Contribute to drive process improvement and automation in the Actuarial department.
- Quality control – Operate as an important quality controller for the business, ensuring all product project processes are delivered in a timely manner ensuring continued high satisfaction rates.
- Delivery focus – Understanding and striving to meet or exceed all metrics and KPIs while providing excellent consistent customer service.
- Culture champion – Like all NobleOak roles, this role must be a strong ambassador and champion of the NobleOak high-performance culture and brand values. Always displaying positivity, energy and integrity, taking responsibility for actions and building on a positive and engaging diverse team dynamic.