Job Description
Company DescriptionWelcome 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. We want to grow with you. Achieve with you. And support you to do your best work. That's why we're focused on developing leadership, promoting diversity, rewarding excellence and retaining great talent.We're always looking for people who want to go further with us. People who do what's right, aim high, and work smart. Why not see where we can go?Job DescriptionThis role requires a highly versatile individual who has the technical breadth and solid understanding of relevant life insurance business processes particularly in relation to Reinsurance arrangements, Claims, Underwriting, Policy alterations, Operations, Accounting and Actuarial reserving. The successful individual will apply a holistic approach and sound decision making to ensure fair and balanced outcomes for our reinsurers, our shareholder and the business when it comes to operational reinsurance matters.This role is responsible for the administration of TAL's reinsurance arrangements. This includes the leadership and team management of reinsurance analysts in all aspects of their work.The primary accountability of the role is to ensure that TAL complies with its contractual and organisational requirements as they relate to the calculation and payment of reinsurance premium to its reinsurers, and the calculation and recovery of all reinsurance recoveries due to TAL.Other key responsibilities of the role include close liaison with reinsurers and with colleagues within TAL and the Dai-ichi Group acting as a Reinsurance Subject Matter Expert on all matters related to reinsurance, change management, remediation, change, process improvement and risk management.With the TAL reinsurance portfolio exceeding $2bn in premiums administered, this is a high profile opportunity providing exposure to senior management and a wide range of stakeholders across all business units and functions whilst also having an impact on TAL's balance sheet. Individuals will require excellent communication skills to build strong relationships with key stakeholders and have the courage to challenge the status quo.Key Accountabilities:Proactive management of claim recovery and premium payment process to ensure timely settlements with ongoing monitoring of outstanding balances and issuesManaging and mitigating reinsurance operational risk by overseeing all system related matters and downstream impacts while supporting change stemming from other areas within the TAL businessProactively engaging reinsurers and internal TAL teams (Claims, Underwriting, Legal and Actuarial etc) to settle complex cases and disputes to ensure fair outcomes are achieved.Continuous review and identification of operational risk and process enhancement across the business e.g. Claims, Underwriting, Policy alterations, reinstatements, etc.Reviewing and monitoring the reinsurance transactions in the general ledger to ensure issues are identified, categorised and escalated on a timely manner to the Financial Control teamRepresenting Reinsurance on internal and external TAL projects as a Subject Matter Expert to ensure potential risks and issues are identified, quantified, managed and escalated where appropriate internally and externally (with reinsurers)Support Senior Reinsurance Treaty Manager, Head of Reinsurance, Head of Reinsurance Operational Excellence & Change, GM and Line 1 and Lin 2 Risk teams in respect of operational matters including treaty implementation, process review and investigationProvide reinsurance insight and assistance to the Products, Underwriting, Claims and Technology teams in respect of product, pricing or other ad hoc requestsPreparation of monthly operations reports and provision of reinsurance insights and assistance to the Actuarial, Financial Control and other TAL teams for the purposes of completing and analysing valuation and profit resultsTeam management and developmentMentoring and supporting Reinsurance Analysts in respect of complex operational tasks and issues, e.g. disputed claims and policies, legacy treaties and products, system issues and defects, policy alteration and transfers etc.Take an active role in developing team members to achieve company and development goalsProvide coaching and regular performance related feedback to Reinsurance team membersEnsure that the calibre and level of Reinsurance talent and skill available to the business meets the business need and is maintained at optimum levelsEnsure that members of the Reinsurance Operations team are kept informed of key company knowledge, events and updatesOther responsibilitiesAlignment of TAL, ex-ALSL and TLIS processesProvision of key stakeholder input on projects as required, including the upcoming TAL/TLIS Part 9 processUndertake system audits and risk & control reviews in respect of reinsurance data producedOngoing management of Reinsurance Secure Transfer Portal and Treaty RepositoryQualificationsMinimum 5 years working experience in a Reinsurance Operational teamExcellent knowledge of life insurance product range, underwriting, operations and claim processStrong knowledge and understanding of the life insurance industry and strong awareness of life insurance/reinsurance and accounting principlesStrong analytical and numerical skills with high level of attention to detail and ability to enhance controls and checking processesProven leadership skills, ability to effectively delegate tasks, prioritise work, manage and monitor direct reports to deliver team objectivesExcellent communication ability (written and verbal) and effective stakeholder managementAdditional InformationAt TAL we value diversity in all its forms and are committed to fostering an inclusive and equitable culture for all our people. We encourage Aboriginal and Torres Strait Islander people, individuals from all backgrounds, including those with caring responsibilities, people living with disability, and individuals from the CALD and LGBTQI+ communities to apply. Even if you don't check every box in the criteria above, we encourage you to apply today or get in touch with usTo provide you with the best experience, we can accommodate you at any stage of the recruitment process. Simply inform our Recruitment team at any time.TAL is recognised by the Workplace Gender Equality Agency as an Employer of Choice. We are proud to be a member of Diversity Council Australia and the Australian Network on Disability. For information on our reconciliation journey, take a look at ourWe acknowledge the Traditional Custodians of the Land in which our Head Office is based, the land of the Gadigal people of the Eora Nation, and recognise their deep connections to the land, sea, and culture.We extend this acknowledgment to the many Traditional Lands that we operate across and pay our respects to Elders past, present, and emerging.Everyone at TAL has a responsibility to do the right thing and is accountable for the way they conduct themselves. Our expectations are that you follow the principles set out in our Code of Conduct when you come to work every day. Risk management is everyone's responsibility.If you are already a TAL employee please apply via the SmartRecruiters button in Workday and navigate to the Employee Portal. This is important to ensure that your application is recorded accurately.TAL
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