THE TEAM

Financial Risk Specialist Teams are APRA’s centre of excellence for financial risk and are set within the Cross-industry Risk Division. The Cross-Industry Risk Division houses all APRA risk specialist teams, bringing together a financial system wide perspective and assessing priority areas for APRA’s prudential response across all APRA’s regulated industries. Further, the division provides advice and collaborates with frontline supervisors to enable them to fulfil their supervisory function.

THE ROLE

As APRA’s Head of Insurance Risk, Financial Risk you will lead a team of insurance risk specialists spanning general insurance, life insurance and private health insurance. You will support APRA’s mission of ensuring Australians’ financial interests are protected and that the financial system is stable, competitive, and efficient. With unparalleled access to insurance risk information and the most senior insurance professionals in APRA regulated entities, your team:

• monitors insurance risk across the Australian financial system to inform APRA action;
• undertakes prudential reviews of regulated entity insurance risk activity in conjunction with APRA supervisors;
• devises insurance risk mitigation strategies where risk is outside prudential tolerances;
• provides insurance risk specialist advice; andsupports the development of APRA prudential standards, practice guides and other insurance risk related prudential policy.

You may also be involved in providing advice to other areas of government, including Treasury and the Department of Health and engage internationally with peer regulators and the International Association of Insurance Supervisors.

KEY RESPONSIBILITIES

• Lead, manage and develop a team of insurance risk specialists to deliver APRA’s insurance risk needs, including on-site insurance risk reviews of regulated entities
• Set strategic direction and business plan of the Insurance Risk team, consistent with the APRA Corporate Plan
• Monitor, assess the insurance risk environment across the Australian financial system for relevant prudential vulnerabilities and, and where appropriate, recommend an APRA balanced but proactive response
• Collaborate with other Cross-Industry Risk Division specialists to provide a cohesive prudential risk view across all risk classes for Australia’s financial system
• Provide specialist technical advice on insurance risk related matters, ensuring the team maintains a deep level of expertise in insurance risk and current and emerging issues in insurance risk management more broadly, both domestically and internationally
• Oversee the development of insurance risk system-wide and relevant entity insights
• Provide specialist input into APRA’s prudential policy, data collections and reporting in relation to insurance risk
• Provide subject matter expertise in support of APRA’s senior leadership, internal governance committees, and other internal and external stakeholders
• Contribute to branch and divisional leadership activities, priorities workflow and manage resources accordingly; and
• Model inclusive leadership behaviours and instilling an open culture where divergent views are shared and respected.