Job Details
Time Type: Full time
Worker Type: Employee
Position: Head of Model Use (Capital Modelling)
Location: London / Leeds (Hybrid)
Employment: Permanent
About QBE
At QBE, we get to the heart of what matters for our customers. We are an international insurer with over 13,000 people working across 26 countries, and we are building momentum towards our vision to become the most consistent and innovative risk partner. It’s an exciting time for our team and we welcome passionate, talented and kind individuals to make a real impact.
The Opportunity
We are hiring a Head of Model Use (Capital Modelling) who will lead and enhance strategic model use within the EO Capital Modelling function. This highly visible role will embed the Economic Capital Model (ECM) at the core of decision‑making, risk management, and business partnering across the division. You will shape how capital insights inform business planning, major transactions and reinsurance decisions, while leading a high‑performing team.
Key Responsibilities
- Oversee and maintain the EO management view of the ECM, ensuring it reflects the latest risk profile of the business.
- Promote effective use of the ECM to enhance decision‑making and consistency in risk assessment processes.
- Utilise the ECM to support business planning ahead of Sub1 and Sub2 submissions, including analysis of earnings volatility, portfolio optimisation and capital intensity ratios.
- Lead strategic capital management activities across the QBE Division, including capital structure optimisation and assessment of capital impacts from strategic projects at EO and Group level.
- Oversee a robust capital allocation methodology, increasing awareness and technical understanding of capital allocation and return on allocated capital (RoAC) across stakeholders.
- Assess capital implications for business transactions such as Loss Portfolio Transfers (LPTs), acquisitions, disposals, commutations, reinsurance optimisation and the QBE reinsurance purchase process using the capital model.
- Produce regulatory capital forecasts to support capital and remittance planning, and drive ongoing development of capital forecasting methodologies.
- Apply a robust risk management framework and peer‑review processes across model use activities.
- Lead the FAL monthly Model Use Working Group, ensuring delivery of key activities and contributing to future model use strategy.
- Build and maintain strong, collaborative relationships with key stakeholders across the QBE Division and wider Group.
- Motivate, develop, and lead team members, ensuring high performance standards and ongoing personal development.
Qualifications
Must‑haves
- Tertiary degree or equivalent combination of education and relevant work experience.
- Relevant actuarial society certification, such as Fellow of the Institute and Faculty of Actuaries (FIA) or Fellow of the Casualty Actuarial Society (FCAS).
Experience & Capability
- Fully qualified actuary with significant General Insurance experience.
- Strong background in capital modelling or capital management within the General Insurance industry.
- Proven experience in team leadership and senior stakeholder engagement.
- Highly skilled in data analysis, with strong proficiency in Excel, PowerPoint, SQL, VBA and capital modelling software (Igloo preferred).
- Commercially aware, collaborative and able to influence strategic decision‑making.
- Experience leading operational processes and delivering high‑quality technical analysis and insights.
- Strong analytical and problem‑solving skills, with clear written and verbal communication abilities.
- Comfortable working with senior management and industry professionals in complex environments.
Benefits
- 30 days holiday a year with the option to buy up to 2 additional days.
- Flexible working arrangements, including part‑time, job share and compressed hours.
- Automatic enrolment in the QBE pension plan with employer contributions of 10% of basic salary.
- Fully comprehensive private medical cover for you and your family.
- Family‑friendly policies including 26 weeks leave at full pay regardless of personal circumstances.
- Short‑term remote work abroad – up to 20 days per year from approved locations.
- Support for sustainable investing and a pension strategy aligned with net‑zero goals.
- Cycle‑to‑Work benefit – up to £5,000 value for bike purchase or accessories.
Equal Employment Opportunity
QBE is an equal opportunity employer and is required to comply with equal employment opportunity legislation in each jurisdiction it operates. We are an international insurer and reinsurer offering a diverse portfolio of commercial, personal and specialty products, as well as risk management solutions. Our product portfolio includes property, motor, crop, energy, marine and aviation. We employ a team of about 13,000 people in 26 countries around the world.
