Senior Global Pricing Actuary (Financial Solutions Lead)

Job Description

The Chief Pricing and Underwriting Office (CPUO) is organized around four main activities: Global and Regional Pricing, Underwriting Management, Medical Underwriting & Claims, and Experience Analysis and Biometric and Behavioural Modelling. We work together based on communities around outcomes.

The Global Pricing team is composed of experienced pricing actuaries responsible for the pricing framework and standards within the CPUO. The team’s responsibilities include setting pricing and assumptions methodology, sharing expertise, ensuring good practices and quality controls, and supporting wider business unit strategy.

We provide support and controls to the pricing actuaries of Life markets and work closely with Underwriting and Medical Underwriting and Claims teams, contributing to Business Acceptance decisions.

We are responsible for producing an opinion on the deals referred to us, typically the larger and more complex transactions that exceed local authorities.

The role doesn’t have direct people management responsibilities. However, it requires strong coordination and organizational skills to manage several stakeholders during the referrals and the Business Evaluation reviews and their governance within limited timelines.

This can also apply to organizing pricing workshops and managing the pricing actuaries’ community through events and forums. Moreover, accepting management responsibility is expected of all team members at times on a project-by-project basis.

Responsibilities

In respect of the primary role related to the referred pricing cases, it includes:

• Supporting the organization and optimization of the Global Referral process for Financial Solutions referrals and, when delegated by the Head of Referrals, leading the Pricing review by putting in place the pricing squad (if needed) and forming the official opinion of the Pricing Function on deals referred to the global level.
• Review of Best Estimates, with the support of the BRM team, if required.
• Review of Modelling, KPIs, and capital calculations, ensuring deal structuring is adequately reflected.
• Ensuring appropriate understanding and communication of the expert judgement decisions taken when evaluating the deal.
• Deal documentation should describe the best estimate, tools and processes used, expert judgement, and sign-off process.
• For Financial Solutions referrals and when delegated by the Head of Referrals, coordinating the Business Acceptance review of the LCTT deals referred to the global level, working together with Risk Management and the Regional Business Acceptance Heads.
• Actively supporting the implementation of the business acceptance framework, including review of the guidelines, deals’ models, and assessing the adequacy of the controls’ environment.
• Ensuring strong communication between the pricing teams and Head of Referral, Chief Pricing Actuary, and Head of CPUO, including timely escalation of any material issues identified by the teams.
• Leading or participating in wider projects, such as the quarterly negative EVA project and annual NPET profitability adequacy assessment cycle and reporting.
• Leading or participating in the pricing workstream when involved in a cross review of the business acceptance process of a local entity.
• Participation in the animation of the Referral Community by sharing best practices and learnings and providing updates on developments related to referral processes and activities.
• Participating in the animation of the Pricing Function Community in terms of news communication, best practice sharing, and know-how transfer.
• Following up on the publication of new methodology, with support on implementation to local teams.
• Occasionally participating in client meetings, deals due diligence, and negotiations.

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:

• To collect and share pricing expertise.
• Ensure good practices and quality of pricing processes.
• Set appropriate pricing methodology.
• Support wider business acceptance considerations.
• Support framework for assumption derivations and pricing guidelines.
• Facilitate SCOR L&H vision and strategy from a pricing perspective.
• Support development of processes to reduce operational risk in pricing.
• Provide expertise and support for large and complex deals.

All team members may be required to assist in the above areas from time to time, even where outside of their core responsibilities.

Qualifications

• Extensive experience in the international Insurance/Reinsurance industry, with significant experience in a Pricing role.
• Strong experience in RBC regulatory context(s) such as Solvency II.
• Management/project management experience.
• Experience of multiple markets and products would be an advantage.
• Strong appetite and proven ability to work in an international context with cross-team collaboration.
• Familiarity with actuarial modelling tools is a plus.
• Open-minded and result-oriented, working in an autonomous, organized, and rigorous manner with proven communication skills, especially in a complex context.
• Qualified Actuary.

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.” It 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.