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QBE is hiring a

Reserving Actuary

The Opportunity

Facilitate 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

  • Ensure reserves comply with relevant regulatory standards
  • Meet all internal and external reporting requirements (i.e. actuarial, risk and finance)
  • Provide expert support to the capital modelling, business planning and technical pricing processes
  • Timely provision of robust reserve estimates
  • Appropriate application of standard reserving techniques (i.e. Chain Ladder & Borneutter-Ferguson) as well as stochastic claims reserving (i.e. Bootstrap) methodologies to derive reserve risk distributions
  • Remain consistent with assumptions between reserving, business planning, capital modelling and technical pricing
  • Support management in ensuring all key processes and policies are appropriately documented
  • Liaise with key stakeholders to ensure the reserving process reflects the specific features of underlying contracts and open claims
  • Support the development of an Economic Balance Sheet as required by regulatory standards
  • Participate in the analysis and review of large individual claims / loss events
  • Maintain Knowledge of existing and developing domestic and global accounting standards including GAAPs and IFRS
  • Appropriate application of actuarial judgment based on changes in macro-economic and claims environment
  • Prepare best estimate reserves on all required bases including Underwriting Year, GAAP, discounted and undiscounted
  • Manage budgeted resources by anticipating expenditures, accurately forecasting resource needs/costs and properly accounting for expenses to meet requirements and achieve fiscal responsibility

Required Education

Bachelor's Degree or equivalent combination of education and work experience

Required Experience

5 years relevant experience

Required Licenses/Certifications

Nearly / Newly qualified in a recognized actuarial designation

Preferred Competencies/Skills

  • Persuade and influence both directly and indirectly at all levels within an organization
  • Expert user in Excel and other analytical tools
  • Produce detailed reports at various levels with high degree of 1st time accuracy
  • Work within defined procedures
  • Apply, document and justify areas of actuarial judgment throughout reserving process
  • Communicate complex statistical techniques to a non-mathematical audience
  • Identify and evaluate emerging techniques as they relate to reserving
  • Organize own work to meet deadlines
  • Ability and willingness to support with other actuarial disciplines (i.e. reserving as required)

Preferred Education Specifics

Degree in Mathematics, Applied Mathematics, Statistics, Operations Research, or Actuarial Science

Preferred Experience

Senior reserving role within the Non-Life Reinsurance industry

Preferred Knowledge

  • Strong understanding of industry business processes
  • Strong understanding of product lines including key exclusions, material terms and conditions, policy limits and exclusions
  • Good understanding of compliance issues
  • Good understanding of Bermudian or broadly equivalent (i.e. Solvency II) regulatory regime
  • Working knowledge of other regulatory requirements (i.e. Australia)
  • Awareness of macro claims and economic environment to the extent that it may impact reserve estimates

About QBE

We 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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