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Semester 2, 2020

Commonwealth Superannuation Corporation (CSC)

Due to recent events, we have re-designed and are shifting SIP to virtual learning for Semester 2, 2020, with Commonwealth Superannuation Corporation (CSC) being the client organisation!

IMPORTANT NOTE:

The button above will only be available during the application period, which is from 12.00 AM, Saturday (23rd May 2020) to 11.59 PM, Monday (8th Jun 2020).

UPDATE [4.00 PM, Tuesday (9th Jun 2020)]: We have extended the application deadline to 11.59PM, Sunday (21st Jun 2020)!

HOW TO APPLY:

To apply, you are required to access the application form above to:
  1. Complete Part A. Personal Details

  2. [OPTIONAL] Complete Part B. Resume and Interview Workshop

  3. Complete Part C. Selection Questions

    • One question to be answered using a 3-minute video response.

    • Three questions, with each to be answered using a 1000-character written response.

    • One question for you to rank your skills.

  4. Complete Part D. Declaration

Note that it should take you at least an hour to research, prepare, and complete this application. You can save and continue your application later; you will start right where you left off the next time you access this application form. (This will work as long as you return to this application form on the same computer and on the same web browser, and has not cleared your browser cookies.)

About

For over 30 years, Australian Government employees and members of the Australian Defence Force have been counting on CSC to look after their superannuation.

Our vision is to build, support and protect better retirement outcomes for all our members and their families.

We’re here to be the trusted and valued partner who:

  • achieves long-term investment objectives,
  • guides informed retirement decisions, and
  • gives our members peace of mind that their families and futures are in safe hands.

We're committed to giving our members the retirement that they deserve. And because we understand them like no one else, we can.

For more information, please visit the official website.

Background

SPS 515 – Strategic Planning and Member Outcomes was released in January 2020. This Prudential Standard places responsibility on CSC to ensure quality outcomes for customers, now and into the future.

CSC would like to find a way to measure and predict what ‘quality outcomes’ are, and how to reach them. Quality outcomes in retirement may be influenced by both financial and non-financial factors. For example, a quality retirement outcome might be influenced by a customer's:

  • financial literacy level,
  • capacity to invest in their retirement,
  • health and wellbeing, or
  • engagement level with their superannuation.

Financial: CSC currently uses the ASFA Retirement Standard (ASFA Moderate as a minimum threshold) to measure the financial outcome of our members in retirement.

Non-Financial: CSC currently has no methodology to measure a customer’s non-financial outcomes, such as health and wellbeing and engagement.

What’s the solution?

We see an opportunity to lead the marketplace in delivering a program which engages, guides, and empowers customers to better retirement literacy and outcomes.

Ideally, we would like every customer to have a score on their account that is linked to an algorithm. The score would indicate how each member is tracking to achieve a quality outcome in retirement, both financially and non-financially.

You will be working on designing the algorithm.

Two Business Cases

You will be asked to rank the two business cases in order of your preference during the application process. If successful, you will be assigned to one of the two business cases based on the quality of your responses to the selection questions and the first-in, first-out (FIFO) method.

1st Business Case

Discover the capacity of Australians, and specifically Australian Public Servants and Defence Force Members, to invest in their retirement over the course of their lifetime, assigning a score-based metric which can be tracked.

  1. Research financial and non-financial factors that might influence our customer’s ability to invest in their retirement at different points in their life (e.g. individual and household income, mortgage, employment, children, caring responsibilities, disposable income, study, injury/illness, aged care, etc.).
  2. Do some modelling that outlines the impacts of these factors on both:
    • an individual customer’s capacity to invest in their retirement at any given point in their life, and
    • an age groups general capacity to invest in their retirement at any given point in their life.
  3. Identify the times in a customer’s life when they have the most capacity to invest in retirement, so CSC knows when to encourage them to take action.
  4. Design a methodology so we can assess a customer’s individual capacity to invest in retirement at any time in their life.
  5. Assign a score-based metric to each of these factors to allow capacity to invest in retirement can be tracked either by:
    • a customer survey, and
    • an age group.

2nd Business Case

Research the propensity of Australians, and specifically Australian Public Servants and Defence Force Members, to optimise their retirement outcomes.

  1. Identify:
    • what actions customers can take to optimise their retirement outcome, both financial and non-financial (e.g. consolidating multiple super accounts, making voluntary superannuation contributions, improving financial literacy etc.),
    • which actions make the biggest impact on retirement outcomes, and
    • when is the best time for a customer to take these actions to ensure an optimised retirement outcome.
  2. Research:
    • an individual customer’s propensity to take/not take action at any given point in their life and why,
    • an age groups general propensity to take/not take action at any given point in their life.
  3. Design a methodology so we can assess a customer’s individual propensity to take action at any time in their life.
  4. Assign a score-based metric to each of these actions so we can track propensity to take action either by:
    • a customer survey, and
    • an age group.
  5. Make recommendations on how CSC can use behavioural economics / nudge theory to encourage customers to take the actions that have the biggest impact on their retirement outcomes.

Contact Us

For further information about the CBE Special Industry Project, please contact:

Phone: +61 2 6125 9343
Email: employability.cbe@anu.edu.au

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Updated:   22 May 2020 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team