Pricing Actuary (Expert)

Job Description

The role covers all aspects of:

• Pricing markets within Paris & MEA area, as well as GCU contracts
• Leading the development of pricing methods and tools
• Leading the development of market benchmarks
• Encouraging team engagement and fostering opportunities for team members to expand their market knowledge and deal-specific information through close collaboration with underwriters
• Identifying key drivers impacting the portfolio performance to support underwriting in decision-making and drive company growth in the region
• Providing technical guidance and training of junior staff and interns

Serving as a subject matter expert in specific markets and lines of business, mentoring emerging actuaries or cat modelers, and spearheading various projects and studies.

Responsibilities

Key duties and responsibilities

Drive Transactional Pricing: The individual in this role will execute tasks independently and with expertise, provide technical leadership, guide others in the team, and drive continuous improvement in processes and methodologies:

• Provide risk assessment of contracts and offer technical support to Underwriting teams through transactional pricing and modelling.
• Deliver ad-hoc services for Underwriting and external clients as needed.
• Contribute to the calibration of pricing parameters in xAct, under the guidance of the Central Pricing Team (CPT).
• Drive performance and profitability analyses in collaboration with the portfolio monitoring team.
• Assist in R&D activities to improve SCOR’s view of risks and the pricing and modelling models, in close collaboration with P&C operations.
• Participate in the development and sharing of knowledge across teams.

Business Partner to Underwriting: Work alongside underwriting colleagues to analyse and price reinsurance contracts in accordance with guidelines and deadlines, identify and communicate key risk loss drivers, and provide advice on pricing issues.

• Proactively provide insights for and participate in the planning process.
• Regularly participate in client meetings to better understand client/market risks, skilled at giving structural advice and new ideas, driving demand-based product innovation.

Influence decision-making: Influence business decisions by providing pricing recommendations and participating in strategic committees on planning and performance steering for the region.

P&M activities, processes and methods improvement: Participate in the evaluation and enhancement of the P&M processes, workflows, methods, tools, identifying opportunities for automation, standardisation and streamlining to gain efficiency, focusing on the creation of innovative and tailor-made solutions adapted to the change in portfolio mix.

P&M Tactical Initiative follow up and enhancement: Lead the development of new insurance products and manage product consulting services to generate new business.

Projects: Participate in projects, interacting closely with other regions and working with P&C Operations and other stakeholders. Be a key contributor to cross-functional, global projects, to shape the risk view philosophy of SCOR.

Cross-functional communication: Participate in the feedback loops with underwriting, claims, reserving, finance, accumulations to ensure accurate and timely information exchange, resolve issues and support business objectives.

Compliance and Governance: Ensure adequate compliance through internal controls over the pricing and modelling activities in your region. Ensure a robust governance process between P&M, Central Pricing and Underwriting.

Guidelines and Frameworks: Ensure the adequate application of RI & MGA Pricing Guidelines and Best Practice; participate in its development and contribute to the improvement of P&M framework and methodologies.

Qualifications

Required experience & competencies

Experience

• Work experience in the financial services industry, preferably in reinsurance/insurance with a focus on analytical and/or actuarial work, for instance the development and structuring of reinsurance products, financial instruments, and pricing tools.
• Strong mathematical, modelling, technical background.
• Knowledge in P&C lines of business and reinsurance underwriting is an advantage.
• At least 10 years’ experience in leading actuarial topics; experience in managing large projects across multiple teams in different locations is considered a plus.

Leadership and Expertise Skills

• Providing subject matter expertise, and pushing the boundary to technical innovation, being a reference for the team, advising managers.
• Ability to drive engagement via leading topics or projects.
• Collaborative, establishing excellent relationships and bringing people closer together.
• Delivering tangible results that drive organizational success.
• Proven decision and problem-solving skills.
• Strong interpersonal skills with the ability to work effectively with team members and a wide range of stakeholders.

Personal Competences

• Highly motivated and driven individual who has the maturity to work with a diverse group of personalities.
• Strong work ethics and ability to work in a rapidly changing and complex environment.
• Strong organizational and time management skills.
• Exceptional communication and collaboration skills with effective interpersonal verbal and written skills to communicate with non-technical colleagues.
• Exceptional analytical and problem-solving skills.
• Excellent business acumen – synthesizes analytical skill with business insight.
• Creative initiative-taker, dynamic and driven, who formulates new concepts and challenges the status quo.
• Strategic thinker, self-starter who finds creative solutions and brings a positive attitude to address challenges.
• Willingness to travel in the region.

Required Education

• Excellent academic qualifications including a minimum of a bachelor’s degree in mathematics, actuarial science, other scientific discipline (statistics, physics, natural science), economics or finance.
• An advanced degree (master’s or PhD) would be a plus.
• Insurance qualification or actuarial credentials are strongly preferred.

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.

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.” This serves to build momentum that drives the Group forward and as a compass to guide our actions and choices, anchored by five core values: 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.