Do work that matters
The Group Insurance Team is part of Group Financial Risk within Risk Management. Group Insurance is responsible for recommending, sourcing and managing the insurance program for the Group, as well as managing the operation of the Group’s Captive insurance subsidiary. Our purpose is to lead the delivery of optimised risk transfer and risk financing solutions, aligned to the Group’s risk appetite, and provide exceptional insurance advice and service for our stakeholders.
See yourself in the team
As a key member of the Group Insurance team, you will drive the strategic direction of the Group’s Captive insurance subsidiary and effective oversight of its day-to-day activities across risk, compliance, legal and financial management. You will also actively participate in the management and renewal of the Group’s insurance arrangements to enhance shareholder value.
Your day could look like but not limited to:
Directing the Captive’s underwriting and claims activities and investigating further business opportunities
Ensuring the Captive’s activities adhere to CBA policies and that risks and controls are managed in accordance with Risk Management Framework requirements
Preparing agenda items and papers for Captive board meetings
Oversight of the Captive’s financial statements, payment approvals and investment management
Oversight of the Captive’s compliance with regulatory, taxation, legal and other obligations
Oversight of third party Captive manager’s activities and performance, and engagement of other third party providers (e.g. auditor, tax agent)
Participating in broader Group insurance renewal and/or claims management activities
Engaging with stakeholders to understand requirements and meet or exceed expectations
Other special projects that may arise from time to time.
We're interested in hearing from people who have:
Significant experience in managing corporate insurance programs and/or Captive insurance subsidiaries, preferably within the financial services industry
Excellent project management and organizational skills to deliver across multiple competing and time-bound priorities
A proven track record in managing third party service provider relationships and performance
Excellent verbal and written communication skills
Strong financial skills and attention to detail
Sound understanding of risk and policy frameworks and their application
Strong relationship management and stakeholder engagement skills, including experience in dealing with senior management.
Working at CommBank
At CommBank, we support our people with the flexibility to balance where work is done with at least half their time each month connecting in office. We also have many other flexible working options available including changing start and finish times, part-time arrangements and job share to name a few. Talk to us about how these arrangements might work in the role you’re interested in.
If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.
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Skills Required
- Significant experience managing corporate insurance programs and/or captive insurance subsidiaries
- Experience within the financial services industry
- Excellent project management and organizational skills
- Proven track record managing third-party service provider relationships and performance
- Excellent verbal and written communication skills
- Strong financial skills and attention to detail
- Sound understanding of risk and policy frameworks and their application
- Strong relationship management and stakeholder engagement skills, including experience dealing with senior management
Commonwealth Bank Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Commonwealth Bank and has not been reviewed or approved by Commonwealth Bank.
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Leave & Time Off Breadth — The bank offers additional Life Leave, the option to purchase up to four extra weeks, pet leave, and paid volunteering leave alongside flexible-working options. Public materials indicate these leave features compare well within Australian banking.
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Parental & Family Support — Permanent employees can access up to 18 weeks of paid parental leave, and superannuation is paid for up to 34 weeks of unpaid parental leave. These provisions extend support for new parents beyond standard settings.
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Wellbeing & Lifestyle Benefits — Access includes CBHS Health Fund, Fitness Passport, a 24/7 wellbeing platform with telehealth, an Employee Assistance Program, and employer‑paid income protection for up to two years, alongside staff banking perks and share plans. This combination provides day‑to‑day value across health, protection, and financial perks.
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What We Do
Australia’s leading provider of financial services including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and sharebroking products and services. We are a business with more than 800,000 shareholders and over 52,000 employees. We offer a full range of financial services to help all Australians build and manage their finances.
