Actuarial Advisor (Life Insurance)

APRA Career Site; Sydney; On-site; AUD 140,000 - 190,000; Full time

Job summary

APRA is seeking a Life Insurance specialist to contribute to prudential supervision in our Sydney or Melbourne office. You will apply actuarial judgement to assess financial condition, capital adequacy, and sustainability of life insurers, and provide challenging, clear actuarial counsel to regulators and stakeholders.

You'll join APRA’s Life Insurance actuarial team, supporting supervision, policy development and regulatory decision-making on core life insurance issues while potentially

Qualifications

• Strong actuarial understanding of Life Insurance.
• Ability to apply actuarial judgement to complex prudential issues.
• Clear communication with technical and non-technical audiences.
• Willing to learn and adapt in a dynamic environment.
• Candidate should hold actuarial qualifications or be progressing toward qualification.

Responsibilities

• Provide specialist actuarial advice and challenge on insurance liabilities, financial condition, capital and industry matters.
• Assess effectiveness of insurers’ actuarial governance and the Appointed Actuary role.
• Analyse actuarial reports, financial information and industry developments to identify risks.
• Contribute actuarial expertise to APRA’s prudential framework interpretation and application.
• Engage with supervision teams and stakeholders to deliver quality actuarial advice.

Skills

Actuarial judgement

Analytical skills

Communication skills

Interpersonal skills

Education

Actuarial qualifications in progress

Job description

The role

As a Life Insurance specialist in our Sydney or Melbourne office at APRA, you will have the opportunity to contribute to the prudential supervision of the life insurance industry and help protect the interests of policyholders. You will apply your actuarial expertise and judgement to assess the financial condition, capital adequacy and sustainability of life insurers, and provide advice and challenge on a range of complex prudential matters.

Working as part of APRA’s broader actuarial function, you will support supervision, policy development and regulatory decision-making. You may also contribute to actuarial work across other APRA-regulated insurance industries as priorities and emerging risks require. This is a fixed term contract until the end of November 2027.

The team

The actuarial function provides specialist actuarial advice and challenge to support prudential supervision, policy development and regulatory decision-making across APRA. The Life Insurance actuarial team has primary responsibility for actuarial matters affecting life insurers and friendly societies, while operating as part of a broader actuarial function covering life insurance, general insurance and private health insurance.

The function works closely with supervision teams and other risk specialists, with work priorities and resources flexed across teams in response to emerging prudential risks and organisational priorities. Its work includes assessing insurer financial condition, insurance liabilities, capital adequacy, pricing sustainability, reinsurance, asset-liability management and the effectiveness of actuarial governance and advice.

Key responsibilities

• Provide specialist actuarial advice and challenge on insurance liabilities, financial condition, capital and a range of technical and industry matters;
• Assess the effectiveness of insurers’ actuarial governance, including the operation of the Appointed Actuary role and actuarial advice frameworks;
• Analyse actuarial reports, financial information and industry developments to identify emerging risks and vulnerabilities;
• Contribute actuarial expertise to the development, interpretation and application of APRA’s prudential framework; and
• Engage with supervision teams, regulated entities and other stakeholders to develop and deliver quality actuarial advice and support effective regulatory decision‑making.

About you

This role is ideal for someone with a strong actuarial understanding of Life Insurance or who is making strong progress towards developing their experience in this area. You will be comfortable applying actuarial judgement to complex issues, working with a degree of autonomy and communicating clearly with technical and non-technical audiences. You will also have strong interpersonal skills and the ability to build trust and rapport with your stakeholders.

• Have strong analytical, investigative and problem-solving skills;
• Be able to apply industry and actuarial knowledge and judgement to complex prudential and industry issues;
• Have well-developed communication and interpersonal skills, including the ability to provide constructive advice and challenge;
• Be able to manage competing priorities and deliver high-quality work with appropriate autonomy;
• Have a keen interest in life insurance industry developments and the prudential and regulatory environment;
• Be open to learning and adapting in a dynamic environment;
• Have a supportive and inclusive working style be willing to contribute flexibly across APRA’s broader actuarial function; and
• Candidates should hold actuarial qualifications or have made substantial progress towards qualification.

To work with us, you need to be an Australian citizen with eligibility to obtain and maintain Australian Government Security clearance.

About APRA

The Australian Prudential Regulation Authority (APRA) places you at the heart of Australia’s financial services industry. APRA serves the Australian community by helping to ensure that financial institutions deliver on the financial commitments they make, within a stable, efficient and competitive financial system.

At APRA, we’re committed to providing an inclusive workplace where everyone belongs, feels valued and respected. We aspire to attract and foster diversity of background, thought and experience, recognising that a broad range of perspectives, approaches and ideas makes us stronger, and better enables us to meet our obligation to protect the financial wellbeing of the Australian community. When applying, please inform us of any adjustments you may need during the interview process.