Reserving Actuary

Job Description

The jobholder will be an ambitious actuary who wants to work as part of a Reserving team, providing a wide range of actuarial reserving services for non-Lloyd’s entities. A key part of the role will be working on quarterly reserving and assisting on a variety of Reserving Projects.

Responsibilities

Some of the key areas of responsibility are as follows:

• Lead the analysis of the technical reserves on a quarterly basis for multiple lines of business.
• Lead reserving projects, such as automation of current processes and modelling of specific lines of business.
• Lead reporting for SCOR UK and SCOR Europe boards and other governance bodies as required.
• Lead improvements of certain models, visualisation tools and dashboards.
• Annual review of the UK portfolio and contribute to the actuarial report for the various UK and European legal entities.
• Carry out regular or ad hoc studies for specific segments.
• Work closely with claims team, finance team, underwriters, underwriting management, and other members of the actuarial team to develop, review, and maintain appropriate tools and methodologies.
• Communicate with external actuaries, auditors, and external regulators when required. Be able to respond to auditor queries and undertake audit defence to UK audit standards.
• Help enhance management information and reporting for the PRA and ACPR.
• Communicate key movement/trends/events to the business on a quarterly basis.
• Mentor, grow, and develop junior members of the team.

Qualifications

• Post qualified i.e. Fellow of the Institute and Faculty of Actuaries FIA (or equivalent being FCAS, FIAA) with at least 7 years’ experience within a Lloyd’s/London Market reserving role.
• Established, strong knowledge of GAAP, Solvency II, and Solvency UK.
• IFRS17 knowledge.
• Knowledge of regulatory requirements and an understanding of how they impact the business.
• Strong knowledge and delivery of professional standard requirements.
• Strong understanding of P&C (re)insurance and reserving practices and products.
• Significant experience in understanding, explaining, and analysing financial impacts and drivers of change.
• Experience managing projects and effectively representing your department.
• Demonstrated ability to identify and implement departmental processes and controls and ensure that these are appropriately documented.
• Proficient in actuarial software, database, and reporting tools including ResQ.
• Demonstrated ability to understand complex actuarial models.
• Advanced proficiency in Microsoft Office Suite (Excel, Word, PowerPoint).
• Desired ability to code in VBA, SQL, Python, and use Gen AI.

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. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.

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, reflecting the input of employees at all levels of the Group. 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.