Senior Capital Actuary

Job Description

Drive the Capital Team in the provision of actuarial services to SCOR Managing Agency and Syndicate 2015 (hereafter collectively referred to as “SMA”), focusing on capital modelling and supporting business planning, exposure management and outwards reinsurance analysis.

Responsibilities

• Take early ownership of the BAU running of the Internal Capital model, parameterisation and maintenance of the model.
• Work with stakeholders across the business to parameterise and validate inputs to the internal model.
• Implement internal model changes as required in line with the Capital Modelling Plan.
• Deliver a regular capital report to SCOR stakeholders and the Internal Model Steering Group explaining results, key movements and key assumptions/uncertainties relating to the Lloyd’s Capital Return (LCR) submission.
• Update the LCR and supplementary forms in line with the Lloyd’s capital timetable.
• Perform first line model validation and assist with the validation report.
• Perform the quarterly Lloyd’s Catastrophe Model (LCM) process.
• Contribute to business planning, outwards reinsurance purchase and technical provisions processes.
• Update the standard formula and Internal Model Output (IMO) templates annually.
• Manage SCOR Internal Model requests to enhance integration with the SCOR Group model.
• Support the business to gain insights from the use of the capital model.
• Maintain model documentation and write new documentation as required.
• Stay abreast of best practice to ensure that all actuarial work is of the highest standard and SMA continues to meet the tests and standards of the Solvency II Directive, and to maintain SMA’s rating against the Lloyd’s Principles for Doing Business.

Qualifications

Experience

• Experience in general insurance capital modelling working in a Lloyd’s syndicate or London Market.
• Knowledge of Tyche, SQL, RMS, Economic Scenarios Generators would be an advantage.
• Advanced Excel skills/Python and with a good working knowledge of VBA.
• Good actuarial exams progress with the Institute and Faculty of Actuaries or equivalent.
• Knowledge of Lloyd’s requirements and understanding of how they affect the business.
• Preferred Solvency II regulatory understanding.

Personal Competencies

• Confidence to take on the responsibility and ownership of the day to day running of the model at an early stage, including the presentation of the results at the key stakeholders across the business.
• Be comfortable working through technical problems at a granular level.
• Excellent interpersonal verbal and written skills that enable the candidate to communicate effectively with colleagues and capital committees.
• Integrity: be honest and professional in all dealings with colleagues.
• An independent thinker with an analytical mindset.
• Flexibility: the ability to manage workload and prioritise different tasks.
• Ability to work collaboratively with others in the Capital Team.

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.” Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is 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.