This is an actuarial analyst role working mainly within a reserving team in QBE’s central Actuarial department, which is a respected and experienced team with strong links to other areas of the business. The department has significant involvement with reserving, business planning, portfolio analysis, commutations pricing and collaboration with pricing actuaries. This provides an excellent opportunity to work on interesting and unusual classes to gain specialist expertise working alongside a large group of experienced actuaries.

The Actuarial department maintains close working relationships with the Underwriting divisions, and Claims, Reinsurance and Finance in order gain a thorough understanding of the portfolios and their drivers of profitability. The successful candidate would be assisting the actuary responsible for portfolios of business and would work closely with other departments to maintain the appropriate knowledge.

The department strives for continuous improvement. We are supported by a dedicated combined in-house development team for database and system maintenance and development. This enables the reserving teams to spend less time processing data and more time on analytical thinking.

General Description

• Producing reserve assessments for various classes of business using a wide range of actuarial techniques on a half-yearly basis
• Creating models for bespoke reserving, portfolio analysis and monitoring
• Communicating with stakeholders inside and outside the department, in particular with the Underwriting, Claims, Reinsurance and Finance teams, to gain and share knowledge and insights 
• Planning execution of reserving and other processes for assigned classes of business and to support the wider actuarial team in cross-department projects
• Monitoring reserve assessments with interim analyses including actual vs expected, large loss reporting, business planning, and special projects
• Reporting and verifying results within the business, to Group in Australia, to Lloyd’s and external parties such as external actuaries and regulators
• Learning and using software such as ResQ reserving software, Excel, Access, TM1 financial management and claims/reinsurance management systems, to produce efficient and higher quality output
• Maintaining high standards of risk management including reconciliations, sense checks, clear audit trails
• Self-development, including studying the actuarial examinations and attending Lunch and Learns and industry presentations, whilst developing general insurance knowledge and actuarial techniques.

Essential Requirements

General Insurance knowledge and experience is advantageous but this role may also suit a strong graduate who is prepared to work hard to accelerate their learning and development.

The key qualities sought are:

• Excellent interpersonal skills: ability to build positive relationships within and external to the team
• Strong analytical and creative problem solving skills
• Enthusiasm and personal drive to continually achieve higher standards
• Ability to learn quickly and grow knowledge of general insurance and actuarial reserving techniques
• Adaptability to changing priorities and timescales
• Commitment to succeed in actuarial examinations
• Confident user of MS Excel spreadsheets