Senior Pricing Actuary (Global Best Estimate)

The Global Pricing team provides support and controls to the pricing functions of SCOR L&H macro-markets. The team’s responsibilities include setting pricing and assumption methodology, sharing expertise, ensuring good practices and quality controls and supporting wider Business Unit strategy. Global Pricing work closely with UW Risk management and Med Underwriting and Claims teams contributing to Business Acceptance decisions.

Global Pricing have the final responsibility for approval of the best estimate assumptions used in pricing and for the guidelines followed by local teams. This means supporting research work and providing a view of its appropriateness for live pricing. This represents the key expected contribution from the holder of this role.

The role holder would also support local pricing teams with expert advice and contribute to the review of referred pricing for deals that exceed local authorities.

Global Pricing is a senior team of experienced pricing actuaries. The role doesn’t have direct people management responsibilities. However, accepting management responsibility is expected of all team members at times on a project-by-project basis.

Responsibilities

There are a large number of pricing guidelines and core pricing assumptions covering multiple risks in multiple markets. There is a rolling need to keep assumptions and guidelines up to date and fit for purpose which requires coordination and prioritization as well as technical input.

In respect of the primary assumption and guideline review responsibilities, you will:

• Prioritize updates of best estimate assumption reviews based on market needs and taking a risk based view on the need for updates. Play a role in coordinating the update, including mobilizing research and local teams where needed.
• Engage with the local and research teams during the review itself providing technical input – checking for reasonableness and adequacy of approach and forming the documented pricing view on the reviewed assumption. Challenge the approach where needed.
• Share experience of other reviews and connect people to ensure a coordinated and best practice approach to assumption and guideline review between markets.
• Work with IT and associated teams to manage the guideline platform (‘xWiki’) to maintain guidelines and manage signoffs.

In addition, you may be called upon to support local teams with review of referred pricing cases and to contribute to the overall Global Pricing objectives:

• Help form the official opinion of the Pricing Function on deals referred to the global level and contribute with Underwriting Risk management to form a business acceptance view.
• Participate in the organization and optimization of the Global Referral process, in coordination with Underwriting Risk Management.
• Participate in the animation of the Referral Community in coordination with Life UW Risk Management, by sharing best practice and learnings and provide updates on the developments related to referral processes and activities.
• Lead or participate in the cross-review pricing workstream as required.
• Participate in the animation of the Pricing Function Community (~130 Pricing Actuaries worldwide) in terms of news communication, best practice sharing, know how transfer, etc. Due to its global nature and perspective, Global Pricing team is in the best position to analyse and spread original ideas within the organisation.
• Aide with regular updates of the Pricing methodology to align with strategic plans and market needs. Follow up the publication on new methodology, with support on implementation to local teams.

Global Pricing Mandate

All members of the Global Pricing team are expected to further the wider objectives of the team. The mandates of the Global Pricing team are:

1. To collect and share pricing expertise
2. Ensure good practices and quality of pricing processes
3. Set appropriate pricing methodology
4. Support wider business acceptance considerations
5. Support framework for assumption derivations and pricing guidelines
6. Facilitate SCOR L&H vision and strategy from a pricing perspective
7. Support development of processes to reduce operational risk in pricing
8. Provide expertise and support for large and complex deals
9. All team members may be required to assist in above areas from time to time, even where outside of their core responsibilities.

Qualifications

Experiences

• Extensive experience in the international Insurance/Reinsurance industry, with significant experience in a research or technical pricing role
• Management/project management experience
• Experience of multiple markets and products would be an advantage, especially pricing of Longevity or Financial Solutions deals
• Strong appetite and proven ability to work in an international context with cross-team collaboration.

Competencies

• Open-minded
• Result oriented
• Autonomous, organized and rigorous
• Communication skills (especially in a complex context)

Education

• Actuarial qualification and certification up to date, or equivalence
• Data science experience is a plus
• Knowledge of Python is a plus

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.