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Reserving Actuary

QBE Insurance Hamilton, Bermuda
Posted 4 days ago Permanent Competitive
Primary Details
Time Type: Full time

Worker Type: Employee

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
•Prior use of Res-Q preferable

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

QBE Cultural DNA
• Everything we do at QBE is underpinned by our DNA (which interlinks seven cultural elements) - because we know it's not just what we do that matters, it's how we do it that makes the difference. We expect all employees to role model and inspire the right behaviours that link to our cultural elements:
•We are customer-focused
•We are technical experts
•We are inclusive
•We are fast-paced
•We are courageous
•We are accountable
•We are a team
•All employees are expected to adhere to QBE's Code of Ethics and Conduct and apply sound risk management practices

US Only - Travel Frequency
• Infrequent (approximately 1-4 trips annually)

US Only - Physical Demands
• General office jobs: Work is generally performed in an office environment in which there is not substantial exposure to adverse environmental conditions. Must have the ability to remain in a stationary position for extended periods of time. Must be able to operate basic office equipment including telephone, headset and computer. Incumbent must be able to lift basic office equipment up to 20 lbs.

US Only - Disclaimer
• To successfully perform this job, the individual must be able to perform each essential job responsibility satisfactorily. Reasonable accommodations may be made to enable an individual with disabilities to perform the essential job responsibilities.

Job Type
• Individual Contributor

Global Disclaimer
• The duties listed in this job description do not limit the assignment of work. They are not to be construed as a complete list of the duties normally to be performed in the position or those occasionally assigned outside an employee's normal duties. Our Group Code of Ethics and Conduct addresses the responsibilities we all have at QBE to our company, to each other and to our customers, suppliers, communities and governments. It provides clear guidance to help us to make good judgement calls.

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?

Your career at QBE - let's make it happen!

https://www.linkedin.com/company/qbe-north-america/

How to Apply:

To submit your application, click "Apply" 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.
Job ID  315985
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