Head of Actuarial Function (SGRI & SI)

Job Description

The HoAF is a key leadership role within Group Actuarial and provides an exciting opportunity to be part of an expert team working in a dynamic and fast-paced environment. A key element of the HoAF role is to influence and assess the data, methods, models, and assumptions used to calculate the Group’s and legal entities’ Life and health SII technical provisions. This includes carrying out the wider role of the actuarial function as it relates to Underwriting, Retrocession, ORSA, and contribution to Risk Management.

This is a PCF48 role.

Responsibilities

The following are some of the key responsibilities for the Head of Actuarial Function for SCOR Ireland (SI) and SCOR Global Reinsurance Ireland (SGRI):

• Coordinate & oversee the calculation of technical provisions.
• Ensure the appropriateness of the methodologies and underlying models used, as well as the assumptions made in the calculation of technical provisions.
• Assess the sufficiency and quality of the data used in the calculation of technical provisions.
• Compare best estimates against experience.
• Inform the administrative, management, or supervisory body of the reliability and adequacy of the calculation of technical provisions.
• Express an opinion on the overall underwriting policy.
• Express an opinion on the adequacy of reinsurance arrangements.
• Contribute to the effective implementation of the risk-management system, particularly with respect to the risk modeling underlying the calculation of capital requirements through participation in Independent Validation.
• Express an opinion on the ORSA.
• Ensure compliance with the requirements of the CBI’s Domestic Actuarial Regime (DAR).
• Coordinate with the P&C Actuarial Function of SGRI/SI and with the Group Actuarial Function.

Coordinate and manage other Actuarial Function activities for the Group, including:

• Review of Life and Health Technical Provisions in relation to non-SGRI/SI portfolios.
• Review of Life and Health Underwriting Policy in relation to non-SGRI/SI portfolios.
• Review of Life and Health Retrocession Arrangements in relation to non-SGRI/SI portfolios.
• Close coordination with Group Actuarial Function.

Support other Life and health reserving activities for the Group, including:

• Review of IFRS17 reserves for the Life and Health portfolio of the Group.
• Maintain and develop guidelines and controls over the Life and Health cashflow modeling process and ensure implementation of appropriate governance.
• Provide value-adding insights to senior management on key drivers and risks relating to Solvency II and IFRS 17 results.

Qualifications

Required experience & competencies

• Qualified Actuary, ideally 10 years PQE.
• Extensive relevant re/insurance experience, particularly in:
• Modeling and valuation of insurance and reinsurance contracts.
• Detailed review of biometric and policyholder assumptions and evaluation of expert judgment.
• Application of relevant Solvency 2 regulation for the evaluation of S2 technical provisions.
• Relevant Solvency 2 regulation for ORSA, underwriting, and retrocession.
• Evaluation of the appropriateness of governance and control frameworks.
• Ability to anticipate internal and/or external challenges and manage complex interactions with all stakeholders involved.
• Ability to manage timely provision of HoAF deliverables to boards.
• Ability to carry out or lead in-depth analyses of complex issues and communicate complex topics to boards and senior management.
• Experience of managing actuarial projects.
• Experience of managing engagement with regulators.
• Strong professional ethic.

Required Education

• Actuarial degree or equivalent.

About us

As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.

Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.

As an international company, our common culture is defined by “The SCOR Way.” The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.

SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.