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Actuarial, Commerce and Finance Graduates
Location: Sydney & Melbourne
At IAG it's more than a job, it's a passion we have. Believing that the power of progress will make peoples' lives safer and better. And we've proudly led both economic and social change, whether it was advocating for child safety restraints in cars or developing technology to detect and alert people to rising flood waters. This is just the beginning as IAG develops new and innovative ways of doing things to set a new standard in our industry.
We encourage you to explore your potential and will provide you with the tools and support to help you achieve your career aspirations and goals.
The 18-month Graduate Program is structured with rotations across multiple divisions in Sydney and Melbourne. Giving you the opportunity to explore different projects, teams and ways of working.
We also offer study assistance initiatives if you wish to continue your education with flexible work arrangements such as working from home and leave options. The Graduate Program will help you develop skills and experience that will see you grow in new ways for your career to reach new heights.
This year we are looking for graduates with the following backgrounds and related disciplines:
Group Actuarial is an internal function supporting the Chief Actuary, Executive and Senior Business leaders across the Group in understanding and managing the Group’s consolidated risk and providing pragmatic advice on maximising enterprise value. As well as determining provisions in respect of both outstanding claims and premium liabilities, as well as providing insight and advice on emerging trends in claims.
Product & Pricing
As part of the Australia Division, we ensure both our pricing and underwriting capability, processes and systems meet the needs of our customers as well as manage our response to the regulatory changes underway in our CTP markets.
We aim to simplify, optimise and harmonise our pricing and product suites across our brands, while providing support for our NRMA/RACV, Commercial, Complex and Speciality and Partner Brands segments. We're all different, and the cover our customers need is constantly changing, therefore, we design and price our products to reflect the risks faced by our customers and to help them recover from unexpected loss.
Finance is responsible for all the finance, analytical and accounting functions that are provided across IAG to support its businesses. We provide financial analysis and insight to the market, our operating businesses, our Group Executive and our Board. We also play a role in helping the Group to meet reporting requirements to various statutory authorities.
The Finance function at IAG includes: Business Advisory, Financial Control & Operations (Financial Planning & Analysis, Financial Accounting and Statutory Reporting) and Group Accounting Policy & Advisory.
Satellite has been established to house challenger brands in an independent business model within IAG. Using a bold and different approach, our operating model will be relentlessly low cost and deliver value and choice to Australia’s fastest growing customer segments. Our brands include Coles Insurance, SGIO, SGIC and Berkshire Hathaway Personal Lines.
As a growth engine for the Group, we serve fast-growing, price-driven customer segments. Our best-in-class, low-cost operating model and solution-focused culture delivers affordability, value and choice for our customers and enterprise value to shareholders. We will find ways to attract new customers and if a customer’s need cannot be met by another IAG brand, we play a role to keep them in the family.
Group Risk oversees IAG’s approach to risk management with reference to roles and responsibilities, frameworks and policies and the risk governance relationship between the Board, board committees and senior management.
Instilling a strong risk culture at IAG and creating an environment of mutual trust between people, policyholders, regulators, creditors and shareholders is integral to achieve sustainable business growth through meeting the insurance needs of IAG customers.
In brief, Risk Management is a process of thinking systematically about all possible risks, problems or disasters before they happen, and then setting up procedures that will avoid the risk, minimise its impact, or cope with its consequences. Risk management begins with three basic questions:
- What can go wrong?
- What will we do to prevent it?
- What will we do if it happens?
Deliver key strategic programs and build capability to enable us to continue to deliver our best for our customers and drive sustainable value for IAG. Operational Partnering deliver enhanced customer experiences through leveraging global partnership skillsets & uplift productivity through the implementation programs, applications of process improvement, knowledge management and Robotics. The rotations as part of Operational Partnering can range from Business Operations to Procurement and Property.
Short Tail Claims
Within the STC team our purpose is your unique contribution is to proactively and effectively manage the customer/member through the claim process to deliver an effortless claim experience, so they can face the future with confidence and security. The teams across STC start from the inception of handling claims across all our production and around the clock support to our customers. All the way through to the Supply Chain which design and refine the frameworks that leverage IAG scale, to deliver optimal customer outcomes, quality of service and commercial outcomes.
You will be entitled to:
- A structured induction and ongoing development program
- Competitive base + 13% super + performance-based bonus up to 10% + great benefits
- A dedicated coach/mentor and a buddy for support throughout the program
- AND the security of knowing you are a fulltime, permanent IAG employee from Day 1
The Graduate Program will begin in February 2020 and throughout the program you will participate in courses, site visits and key projects across a number of business areas. As you work through the program you will become a champion in:
- Formal presentations
- Persuading and influencing
- Developing and maintaining relationships
- Leadership of self and others
- Planning and organizing
- Business acumen
As an IAG graduate your performance will be rewarded with a competitive base salary and the potential to earn a 10% Short Term Incentive bonus each year. You will also have access to tailored benefits offered to IAG employees, including:
- 50% discount on insurance products
- Various corporate partner discounts
- Flexible work arrangements and leave options
- Employee Assistance Program and Return to Work Program
To be eligible for the IAG Graduate Program you must have:
- Australian permanent residency or Australian or New Zealand citizenship
- Degree qualification or higher within the past 3 years for 2020 program (2017, 2018, 2019)
- Applicants must have a credit average (65%) or higher
Here's the process we are following for this year's program: