Job Overview & Organization Mission

Direct Internal Capital Adequacy Assessment Process (ICAAP), balance sheet stress testing, and regulatory capital compliance for IAG.

IAG is recruiting a Senior Capital Adequacy & ICAAP Specialist based at Darling Park, Sydney. You will be responsible for evaluating group capital adequacy under APRA GPS 110 prudential standards, running severe macroeconomic stress scenarios, and optimizing capital efficiency across general insurance underwriting operations.

As a key member of the team at IAG (Insurance Australia Group) in Sydney, NSW, you will play a central role in driving excellence, upholding top-tier Australian industry standards, and contributing directly to the strategic milestones of one of the nation’s premier employers.

Key Duties & Core Responsibilities

In this critical role, your operational duties and key performance responsibilities will encompass:

• Author the: Author the annual Group Internal Capital Adequacy Assessment Process (ICAAP) summary statement.
• Perform dynamic: Perform dynamic macroeconomic and catastrophic weather stress testing simulating severe claims events.
• Monitor Prescribed: Monitor Prescribed Capital Amount (PCA) coverage ratios and minimum regulatory capital buffers.
• Evaluate capital: Evaluate capital impacts of reinsurance treaty structures and major portfolio acquisitions.
• Present capital: Present capital risk appetite metrics to the Group Asset & Liability Committee (ALCO) and APRA.

Required Qualifications, Licenses & Experience

To be successful in this position at IAG (Insurance Australia Group), candidates are expected to satisfy the following essential selection criteria:

• Mandatory Qualification: Bachelor of Commerce / Economics / Actuarial Studies & CFA / PRM.
• Relevant Experience: Minimum 5+ Years of verified industry experience in Australia or recognized overseas equivalence.
• Degree in Finance, Actuarial Studies, Economics, or Mathematics.
• 5+ years capital management, treasury, or prudential risk experience in insurance or banking.
• Thorough knowledge of APRA capital standards (GPS 110, APS 110).
• Strong quantitative financial modeling and executive writing skills.

Core Competencies & Key Technical Proficiencies

The successful applicant will possess demonstrated capabilities across the following domain skill sets:

Salary, Compensation & Employee Benefits

At IAG (Insurance Australia Group), we understand that our people drive our achievements. An outstanding remuneration and wellbeing package is provided in line with Australian benchmarks:

• Competitive Remuneration: AU$150,000 – AU$185,000 per year + standard Australian Superannuation (11.5%).
• Remuneration $150,000 – $185,000 + 11.5% super + performance incentives.
• Darling Park prime waterside office location with flexible work options.
• Up to 50% discount on NRMA and CGU home and motor insurance products.
• Leave Entitlements: 4 weeks annual leave (with 17.5% annual leave loading where applicable) plus 10 days paid personal/carer’s leave.
• Flexible Work: Progressive work-life balance options with supportive corporate culture and leadership development pathways.

About the Employer: IAG (Insurance Australia Group)

IAG is the largest general insurance company in Australia and New Zealand, with leading brands including NRMA Insurance and CGU.

IAG (Insurance Australia Group) is deeply committed to building diverse, equitable, and culturally inclusive work environments. We proudly celebrate diversity and welcome applications from all qualified individuals including First Nations Australians, people with disabilities, and candidates from culturally and linguistically diverse backgrounds.

Application Process & Next Steps

Applications for this position are currently open and being reviewed on a rolling basis. Suitable candidates are encouraged to apply as early as possible before the published closing date.

Please prepare an updated Curriculum Vitae (CV) and a tailored Cover Letter highlighting your relevant experience against the key selection criteria outlined above.

To proceed with your application, click the Apply on Employer Site button to access the official IAG (Insurance Australia Group) careers gateway.