Senior Actuary (P&C Reserving)

Within SCOR's Group Actuarial Department the P&C Reserving team supports the activity of the Group Chief Actuary.

You will support the Head of Group P&C Reserving Department in their core function of providing an independent assurance on SCOR Group IFRS 17 and SII reserves adequacy. This includes independent reserving review, validation of model changes, validation and calibration of P&C reserving input to internal model. The Department is in charge of defining overarching governance in term of methodology, standards and guidelines.

The Department supports the Actuarial Function holder in the production of the Actuarial Function Report and other related documents and reports, for both Group and local entities. The P&C Reserving Team interacts with various teams within SCOR including Model Analysis, Finance P&C Reserving Actuaries, Underwriting, IT, Investors Relations, and outside of SCOR including external auditors, financial analysts, rating agencies.

Responsibilities

• You perform annually or on demand independent actuarial studies on the segments under your responsibility, leading to a structured and synthetic report. This document, written in English, leads to a set of recommendations subject to your follow up.
• You improve, innovate and develop your own analysis, methods, process and tools when assessing your segments’ reserve adequacy.
• You ensure that the reserves of the segments under your review are assessed using adequate methods in a consistent way with a strong audit trail.
• You follow up on a quarterly basis that the assumptions and results of the yearly analysis are correctly reflected in booked reserves.
• You participate to the production of the Actuarial Function report, by taking the lead or supporting the parts that are allocated to you.
• You participate in the Group Internal Model independent validation, especially by reviewing development patterns and Coefficient of Variation for reserves. You develop the capacity to present the validation results to the Validation Advisory Committee in the framework of the overall internal model validation governance.
• You participate in Group specific analysis and investigations. This includes but is not limited to, analysis of volatility, review of estimations of mean time to payment and payout and incurred patterns provided by the local reserving teams. You participate in developing and improving tools and methods used to conduct these studies.
• You can take the lead on various transversal projects such as in improvements of our visualization tools and communication channels.
• You participate in developing and consistently improving reserving tools and methods. You are able to take the lead on corresponding projects.
• On demand, you participate to ad hoc studies on special deals (Loss Portfolio Transfer, alternative solutions deals, etc)

Qualifications

• Strong knowledge of, and excellent technical capabilities in, P&C reserving - minimum of 8 years of experience
• Broad understanding of the (re)insurance industry gained in either a (re)insurance company or consultancy
• Expert in the use of ResQ is strongly preferred
• IT Development experience would be an advantage (VBA, Python, R)
• Knowledge in data science would be an advantage
• Like to work in a collaborative way, share knowledge and information
• Full proficiency in English (written and spoken)

Required Education

• College graduate preferably in Actuarial Science, Mathematics/Statistics, Computing Science, data Science, Physics, Engineering.
• Preferably fully qualified actuary (i.e: Institut des Actuaires SAV, ACAS, FCAS or FIA). Candidates with associate level, advanced students or professional shifting to an actuarial position can be considered as well.
• A dual academic background such as engineer degree plus actuarial qualification would be an asset.

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.

In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.

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.