Business Development Actuary (Longevity)

This is an exciting opportunity to join a strong and established team providing Longevity Reinsurance to the UK and international market. With an established leadership team and strong ambitions to grow supported by executive level management, the right candidate will see significant opportunity to progress their career within this exciting segment of the life industry.

As the world’s fourth-largest reinsurer, SCOR size and diversification provides an excellent platform for this growth. Our Life and P&C business lines provide the clients with a broad range of reinsurance solutions and independent rating agencies place us among the best-ranked reinsurance companies in the world.

SCOR’s Global Longevity team is already a leader in the market. We have developed expertise in the UK de-risking market over the past 10+ years where we have written longevity protection for bulk annuity providers as well as standalone longevity protection for occupational schemes. We have also developed expertise in the individual annuity market with a focus on the use of medical underwriting and our technical knowhow enables us to price longevity for a range of different health conditions at retirement.

Our success has not been limited to the UK market as we have also played a pioneering role in international territories in Europe and North America. In joining our team, you will be expected to help us grow from this strong foundation and realize the opportunities in this growing market segment.

Responsibilities

• Tailor solutions that are attractive to SCOR and the client
• Work with the Longevity Pricing Team to ensure the accurate and timely delivery of responses to tender requests
• Ensure that key issues/risks are highlighted early and referred to key stakeholders/functions and management as appropriate
• Ensure that all the internal sign-off processes are adhered to for binding quotes
• Support, and eventually lead, contract negotiation and all other internal and external aspects of execution
• Work closely with Internal and External Legal Counsel to optimise commercial terms for every deal
• Ensure the smooth transition of new deals to the Longevity Inforce team.
• Identify and prioritise new business opportunities in line with SCOR’s longevity strategy.
• Develop and maintain close relationships with potential clients and working partners (e.g. pension consultants, insurers, banks etc) to gain a good understanding of the market landscape and maximise the opportunities of writing profitable new business
• Explore and research opportunities in global markets, building and taking a lead on new relationships for SCOR
• Provide input to innovation and the development of SCOR’s product offering and positioning for longevity including supporting the Head of Longevity Pricing on technical pricing aspects.
• Develop clear understanding of client needs and motivations for longevity de-risking
• Seek opportunities to improve the profile of the Longevity team both internally and externally (e.g. marketing strategy; presentations; articles etc)
• Develop and maintain relationships with internal stakeholders (UK and international) to help secure support of delivery of the longevity strategy
• Maintain records of key meetings and email exchanges with clients
• Co-ordinate internal resources to deliver client and internal commitments involving relevant technical experts as needed
• Working with the inforce management team when requested, support resolution of client issues taking accountof scale of issue and overall business relationship
• Maintain a close relationship with inforce clients and work closely with the Longevity Inforce team to support as needed on day-to-day matters as well as projects
• Understand key aspects of longevity pricing and associated research work
• Build a network across the wider team
• Participate in wider longevity and group projects as needed
• Opportunities to become involved in pricing, research or in-force management will be available and encouraged.

Qualifications

• Clear history of strong client and internal stakeholder management
• Ability to focus on detailed treaty points and maintain ‘big picture’ outlook
• Experience in the life and/or pensions industry and understanding of pensions and annuity landscape and motivations for de-risking
• Proven project management skills
• Proven success of business development in life and/or pensions industry in either insurance, reinsurance or consultancy environment (Desirable)
• Life Reinsurance experience (Desirable)
• Longevity treaty experience (Desirable)
• Recent bulk annuity and longevity market experience (Desirable)
• Enthusiasm and willingness to learn
• Excellent communication (including written and verbal presentation) and interpersonal skills
• Excellent commercial awareness combined with sound actuarial judgement to produce saleable longevity reinsurance solutions that meet client needs and SCOR’s requirements
• Strong interest in developing new and innovative solutions
• Client focused and able to communicate effectively in client meetings
• Self-motivated
• Team player
• Evidence of prior academic achievement. Actuarial qualifications useful but not required

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.

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.