Senior Actuary (12 Month Contract)

Job Description

Duration: 12 months

You will support the Head of L&H Actuarial in developing the actuarial resources in North Asia, coaching junior colleagues and managing tasks and projects in the team. You will have a high degree of responsibility and autonomy.

You will also help to manage the annual assumption update process for North Asia L&H business in Asia Pacific, reviewing the experience analysis produced by the Korea L&H market team and setting best estimate assumptions.

You will provide leadership on key projects in the North Asia actuarial team, and will be responsible for driving improvements in the valuation modelling, processes and controls.

You will be a key point of contract for Group and regional teams on North Asia actuarial matters, and responsible for communication of actuarial issues to other Finance teams in the context of earnings, capital, liquidity, etc.

Responsibilities

Group Reporting

• Alongside the Head of L&H Actuarial, manage the production of North Asia L&H reserves for Group results (IFRS 4, IFRS 17, SII) each quarter, participating in the landing process and ensuring the results are robust.
• Provide value adding insight on the drivers of financial performance, movements in IFRS and SII results, experience emergence, and recommendations for management actions.
• Produce the actuarial narrative on North Asia L&H business to support FP&A teams. Participate in the annual Operating Plan process
• Undertake continuous improvement of reserving processes, analyses and controls in the North Asia L&H actuarial team
• Help to manage the annual assumption update process, reviewing the experience analysis produced by the business and leveraging the analysis to set the best estimate assumptions, working in conjunction with the regional L&H Actuarial team for Asia Pacific.
• Provide support & guidance to the North Asia actuarial team on issues of methodology, appropriate techniques, and applying expert judgement. Review the work of team members
• Support the local actuarial external audits and relationships with Korea auditors in relation to actuarial topics

Statutory Reporting

• Undertake statutory reporting for the Korea branch, producing quarterly and annual L&H IFRS17 and K-ICS results, including the calculation of insurance risk capital for the L&H business as required
• Provide support to the external Appointed Actuary for the Korea Branch in fulfilling their requirements as laid out in the Korean regulations
• Work with the Capital Management team to provide accurate insurance risks forecasts to manage K-ICS capital within the comfort range, and assess the impact of any changes to the business or retrocession
• Liaise closely with Pricing teams on the capital and reserving implications of new deals

Projects & Modelling

• Provide support in the implementation of new regulatory & reporting regimes
• Provide actuarial leadership on key projects as required
• Provide support and guidance on the topic of actuarial Prophet modelling in North Asia, particularly with respect to the transition to seriatim modelling

Relationships

• Be a key point of contact for Group and regional teams on Life & Health actuarial matters in North Asia
• Communication of actuarial issues to other Finance teams in the context of earnings, capital, liquidity, etc
• Work closely with other teams within APAC, including the L&H business unit, other colleagues in the wider Finance team, Pricing, and Risk management, to share common knowledge and common purpose

• Support and encourage the growth and development of talent within the North Asia Actuarial team. Act as a role model within the team
• Deputise for the Head of L&H Actuarial, North Asia, as required

Qualifications

Required experience & competencies

Experience:

• Desirable: Fellow of international actuarial bodies (FSA, FIA, FIAA or equivalent)
• Experience in relevant technical areas: IFRS4, IFRS17, Solvency II, experience analysis, or K-ICS statutory reporting. Prophet experience would be advantageous
• Minimum of 8-10 years relevant experience
• Experience leading tasks/projects or small teams
• An interest in assuming appointed actuary responsibilities in the future, including a willingness to obtain FSS certification, would be an advantage but is not required

Personal Competences:

• Enjoys working at pace, in a collaborative and open environment
• Promotes continuous improvement and development
• Proactive and experienced at stakeholder management
• Strong technical skill set
• Excellent communication and interpersonal skills. Fluent English speaker.
• Creates a supportive environment when coaching junior team members, and when working with colleagues in the wider business
• Interest in career and skill development – of self and others
• Able to provide effective challenge to senior leaders

About us

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.

In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.

At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.