Bermuda

Associate

Qualified

Investments

Property & Casualty

Reserving

Reporting

Risk

Modelling

Pricing

Capital

Excel

QBE Insurance Group Limited, established in 1886, has evolved into a renowned international insurer and reinsurer. Headquartered in Sydney, Australia, QBE has a significant local presence in 27 countries, showcasing its global reach. The company began as a marine insurance firm, rapidly expanding its operations to various countries including London, Hong Kong, and Singapore, and later extending to Thailand, Vietnam, Malaysia, India, China, Sri Lanka, Burma, and more. In 1924, QBE established an office in New York, marking a significant expansion in its international operations.QBE's growth continued through strategic acquisitions and mergers. Notably, in 1959, QBE and the Bankers’ and Traders’ Insurance Company (B&T) acquired The Equitable Probate and General Insurance Company. In 1973, QBE and B&T merged, forming QBE Insurance, with the name derived from Queensland Insurance, Bankers' and Traders', and The Equitable Probate and General Insurance Company.Today, QBE is a global insurance leader, offering a diverse range of products and risk management solutions in commercial, personal, and specialty lines. The company is structured into several divisions, including International, Australia Pacific, and North America. These divisions collectively offer comprehensive insurance solutions across commercial, personal, and specialty lines, catering to a wide range of customer needs.With its focus on enabling a more resilient future, QBE leverages deep expertise and insights to help people and businesses manage risks, build strength, and embrace change to their advantage. The company is driven by its purpose of enabling a more resilient future, which is evident in its commitment to sustainability, diversity, and inclusion, and its active participation in various global markets.For actuarial professionals, a career at QBE offers the opportunity to be part of a dynamic, global insurance company with a rich history and a forward-looking approach to insurance and risk management.

Time Type: Full timeWorker Type: EmployeeAssist the capital modelling function at Equator Re and Blue Ocean Re, managing and promoting the use of the economic capital model for decision making, risk management and regulatory purposes.Primary Responsibilities include:<ul><li>Manage and maintain the Economic Capital Model (ECM), ensuring updates to reflect the risk profile of the business</li><li>Production and validation of capital modelling submissions for internal uses and regulatory purposes (CISSA, Group ICAAP)</li><li>Support QBE reinsurance purchase process, including use of capital model for reinsurance optimization</li><li>Contribute to strategic thinking and analysis regarding use of Equator for capital management purposes for the QBE Group</li><li>Promote the use of the ECM to support decision making and enhance consistency with other risk assessment processes across the business.</li></ul>Requirements:Experience:<ul><li>Nearly/newly qualified in a recognized actuarial designation</li><li>5+ years relevant experience, including capital modelling experience within General Insurance</li></ul>Skills:<ul><li>Relationship management and influencing skills</li><li>Communicate information in a clear, well-organized, and professional manner</li><li>Excellent verbal and written communication skills</li><li>Able to communicate complex statistical techniques to a non-mathematical audience</li><li>Persuade and influence at all levels within an organization</li><li>Competent user of Excel, Access and other MS Office software</li><li>Ability and willingness to support with other actuarial disciplines (i.e. pricing and reserving as required)</li><li>Able to produce detailed reports at various levels with high degree of 1st time accuracy</li><li>Proactive & execution mindset</li><li>Customer focused</li></ul>Knowledge:<ul><li>Understanding of industry best practice in capital management and reinsurance</li><li>Strong understanding of industry business processes</li><li>Good understanding of compliance issues</li><li>Good understanding of Bermudian or broadly equivalent (i.e. Solvency II) regulatory regime</li><li>Working knowledge of other regulatory requirements</li></ul>Equal Employment Opportunity:QBE is an equal opportunity employer and is required to comply with equal employment opportunity legislation in each jurisdiction it operates.

The OpportunityFacilitate a robust and transparent reserving process within Equator Re in line with Group, Regulatory and Professional standards and to enable the effective management of reserve related risk.Primary Responsibilities<ul><li>Ensure reserves comply with relevant regulatory standards</li><li>Meet all internal and external reporting requirements (i.e. actuarial, risk and finance)</li><li>Provide expert support to the capital modelling, business planning and technical pricing processes</li><li>Timely provision of robust reserve estimates</li><li>Appropriate application of standard reserving techniques (i.e. Chain Ladder &amp; Borneutter-Ferguson) as well as stochastic claims reserving (i.e. Bootstrap) methodologies to derive reserve risk distributions</li><li>Remain consistent with assumptions between reserving, business planning, capital modelling and technical pricing</li><li>Support management in ensuring all key processes and policies are appropriately documented</li><li>Liaise with key stakeholders to ensure the reserving process reflects the specific features of underlying contracts and open claims</li><li>Support the development of an Economic Balance Sheet as required by regulatory standards</li><li>Participate in the analysis and review of large individual claims / loss events</li><li>Maintain Knowledge of existing and developing domestic and global accounting standards including GAAPs and IFRS</li><li>Appropriate application of actuarial judgment based on changes in macro-economic and claims environment</li><li>Prepare best estimate reserves on all required bases including Underwriting Year, GAAP, discounted and undiscounted</li><li>Manage budgeted resources by anticipating expenditures, accurately forecasting resource needs/costs and properly accounting for expenses to meet requirements and achieve fiscal responsibility</li></ul>Required EducationBachelor's Degree or equivalent combination of education and work experienceRequired Experience5 years relevant experienceRequired Licenses/CertificationsNearly / Newly qualified in a recognized actuarial designationPreferred Competencies/Skills<ul><li>Persuade and influence both directly and indirectly at all levels within an organization</li><li>Expert user in Excel and other analytical tools</li><li>Produce detailed reports at various levels with high degree of 1st time accuracy</li><li>Work within defined procedures</li><li>Apply, document and justify areas of actuarial judgment throughout reserving process</li><li>Communicate complex statistical techniques to a non-mathematical audience</li><li>Identify and evaluate emerging techniques as they relate to reserving</li><li>Organize own work to meet deadlines</li><li>Ability and willingness to support with other actuarial disciplines (i.e. reserving as required)</li></ul>Preferred Education SpecificsDegree in Mathematics, Applied Mathematics, Statistics, Operations Research, or Actuarial SciencePreferred ExperienceSenior reserving role within the Non-Life Reinsurance industryPreferred Knowledge<ul><li>Strong understanding of industry business processes</li><li>Strong understanding of product lines including key exclusions, material terms and conditions, policy limits and exclusions</li><li>Good understanding of compliance issues</li><li>Good understanding of Bermudian or broadly equivalent (i.e. Solvency II) regulatory regime</li><li>Working knowledge of other regulatory requirements (i.e. Australia)</li><li>Awareness of macro claims and economic environment to the extent that it may impact reserve estimates</li></ul>About QBEWe can never really predict what’s around the corner, but at QBE we’re asking the right questions to enable a more resilient future by helping those around us build strength and embrace change to their advantage.We’re an international insurer that’s building momentum towards realizing our vision of becoming the most consistent and innovative risk partner.And our people will be at the center of our success. We’re proud to work together, and encourage each other to enable resilience for our customers, our environment, our economies and our communities.With more than 12,000 people working across 27 countries, we’re big enough to make a real impact, but small enough to provide a friendly workplace, where people are down-to-earth, passionate, and kind.We believe this is our moment: What if it was yours too?How to Apply:To submit your application, click "Apply now" and follow the step by step process.Equal Employment Opportunity:QBE is an equal opportunity employer and is required to comply with equal employment opportunity legislation in each jurisdiction it operates.

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