Pricing Specialist

Pricing Specialist Location: Melbourne, AU-AIA Australia BE THE DIFFERENCE At AIA we don’t simply believe in being ‘the best’. We believe in better – because there’s no limit to how far ‘better’ can take us. Everything we do is driven by our purpose to make a difference by helping people embrace Healthier, Longer, Better Lives. And every one of our people has an important role to play. If you want to make a difference by helping shape a healthier, better-protected Australia, read on. The Opportunity: We have an opportunity available for a Pricing Specialist to join our Group Pricing team. Located in Sydney or Melbourne and reporting to the Senior Manager – Group Pricing, you will play a key role in providing product and pricing terms for a specified portfolio of clients by performing and/or reviewing pricing and profit testing within agreed timelines. This will involve working closely with the Client Development and Partnerships team, Product, Reinsurance and Actuarial teams and reinsurers to deliver effective and sustainable solutions. To do this successfully you will: Ensure all pricing activities follow AIA Pricing Strategy, sign off & governance procedures across Actuarial, Product, Operations, Reinsurance and Group Office guidelines (where applicable) Conduct regular loss ratio analysis reviews to determine profitability and experience Liaise with the Pricing Business Partner and/or Senior Manager for pricing guidance and authorisation outside of delegated authority level Support Product team with due diligence reviews of customer disclosure material Support Operations to ensure efficient policy insurance (and reinsurance) administration Work together with the Strategic Partnership and Client Development teams in managing reinsurance terms for new corporate opportunities (where falling outside treaty referral limits) and new business tenders Ensure pricing meets AIA required profit margins & return on capital measures, while balancing competitiveness with effectively allowing for the costs and profitability of the business being sought Successful applications will demonstrate: Prior experience as a pricing specialist with proven knowledge in group insurance A background in actuarial studies with progress in Actuarial Fellowship qualifications desirable Sound understanding of actuarial concepts, capital, profit and value measures Understanding of the key drivers of the Group Insurance market Strong analytical and problem-solving skills with an understanding of performance targets and measurement Why choose AIA: At AIA, we’ve made a promise to help people live healthier, longer, better lives. And it starts with our own people. Access our training and development to build on your current skills Career development through internal mobility opportunities Work for a business helping millions of Australian’s and make a difference to someone’s life everyday Access additional leave days a year to recharge and refresh yourself Enjoy wonderful Health and Wellbeing initiatives that support you Work with supportive and inclusive managers Flexible working arrangements At AIA Australia, we’re proud to help guide, support and protect the wellbeing of over 3.5 million Australians. As part of the AIA Group - the largest independent publicly listed pan-Asian life insurance group – it is our ambition to engage one billion people to live Healthier, Longer, Better Lives by 2030. Lots of companies like to say they’re different. What makes us truly different at AIA, is the difference we make in people’s lives. We are proud that this difference has been recognised in the 2024 ANZIIF awards by being named Life Insurance Company of the Year AIA is different. Are you? If you want to be part of an organisation that helps people live better every single day, apply via the link. Additional Locations: Sydney, AU-AIA Australia