Seoul

Qualified

Senior Actuary

Life

Health

Reserving

Reporting

Reinsurance

Risk

Systems

Python

Modelling

Experience Analysis

Prophet

Coding

Valuation

Excel

Contract

Job SummaryAs a key member of the Korea L&H Valuation team, which sits within the APAC Actuarial function, your role will be focused on the production of IFRS and SII results. The role will cover SCOR’s business written in Korea and Japan.This will include preparing the quarterly reserves, uploading these into SCOR's systems, understanding and analysing the results and movements, reviewing the work of other team members, and producing reports. It will also include preparation of settlement statements for an external retrocession and User Acceptance Testing of actuarial model changes.You will have the opportunity to liaise with colleagues across the SCOR group, explaining the results to our stakeholders and participating in strategic projects.About the Department: APAC ActuarialThe APAC Actuarial team is based in SCOR’s offices in Singapore, Sydney, Beijing, and Seoul, covering both Life & Health and Property & Casualty business. This includes business written in approximately 30 countries and 13 legal entities in the region.We are a diverse and engaged team, providing expert actuarial analysis and insight for our stakeholders. The department is led by the Head of L&H Reserving for Asia Pacific.ResponsibilitiesKey duties and responsibilitiesValuation & Closing Process<ul><li>Review and production support of the IFRS 4, IFRS 17, Solvency II, and K-ICS results for the North Asia market.</li><li>Liaise with the local Technical Accounting team to produce IFRS results.</li><li>Support annual non-economic assumption updates.</li><li>Respond to the external actuarial audit process for North Asia and manage relationships with local auditors on actuarial topics.</li><li>Liaise with IT to streamline and automate the valuation process.</li><li>Assist in drafting actuarial valuation reports for IFRS and Solvency II for the North Asia market.</li><li>Perform the annual/half yearly Analysis of Change process on SII and IFRS 17 results.</li><li>Prepare the quarterly settlement statements for Covea retrocession and assist in creating a longer-term solution to automate this process.</li><li>Standardise and continuously improve reserving processes, analysis, and controls.</li><li>Check and review others' work as part of the ‘do, check, review’ process.</li></ul>Modelling<ul><li>Assist with quarterly Prophet User Acceptance Testing.</li><li>Propose improvements on tools and methodology.</li><li>Assist the North Asia market’s contribution to the SCOR Group IFRS 17 project, including testing and dry run activities, Prophet model process enhancements, and communicating with global stakeholders to keep up with progress developments.</li><li>Update the Best Estimate assumptions and other parameters in the Prophet model.</li><li>Contribute to group/global projects.</li></ul>QualificationsExperience:<ul><li>Nearly or newly qualified actuary (FSA, FIA, FIAA, or equivalent).</li><li>4 to 9 years relevant experience in an insurance/reinsurance business or equivalent capabilities.</li><li>Experience in experience analysis and best estimate assumption setting.</li><li>Experience in reserving/valuation – Best estimate liability valuation, and/or IFRS 17 and Solvency II experience preferred.</li><li>Experience in producing and checking future cash flows using actuarial software, preferably with Prophet.</li><li>Experience in reviewing others' work and managing tasks independently.</li></ul>Personal Competences:<ul><li>Fluent Korean speaker with good written and conversational English.</li><li>Enjoys working at pace in a close-knit team.</li><li>Demonstrates curiosity and enthusiasm for continuous improvement.</li><li>Proactive, organized, and adept at stakeholder management.</li><li>Strong technical skill set, including experience in Prophet, SQL, Python, and Excel VBA.</li><li>Excellent communication and interpersonal skills.</li></ul>About usAs 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.” This serves to build momentum that drives the Group forward and acts as a compass to guide our actions and choices, 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.

About the Role<ul><li>Prepare and analyse regulatory returns.</li><li>Responsible for statutory audits.</li><li>Interact and review tasks performed by offshore support hubs.</li><li>Compile and analyse financial information for periodic management reporting.</li><li>Business partnering by understanding business strategies, engaging with relevant stakeholders and provide reliable and accurate quantitative and qualitative information.</li><li>Understand and implement relevant regulatory changes and updates.</li><li>Support SAP enhancement efforts.</li><li>Collaborate with various stakeholders for other financial related operational/compliance matters.</li><li>Specifically focus on IFRS17 Closing and/or K-ICS related tasks depending on expertise.</li></ul>About the TeamThe Finance Team is responsible for all financial matters in the Korea Branch. It is mainly responsible for the closing process and financial reporting of the Branch, covering K-IFRS17 and K-ICS. This team works closely with other departments in both Korea Branch and other functions in Asia, including Actuarial, Technical Accounting, Risk Management, Tax, and Treasury.About You<ul><li>Fully qualified certified accountant or actuary by recognized local or international bodies.</li><li>At least 5 years of relevant Finance experience from an insurance background.</li><li>Strong analytical and critical reasoning skills with an ability to effectively communicate analysis.</li><li>Strong understanding of insurance accounting and insurance business such as key performance ratios and business drivers.</li><li>Strong understanding of local insurance regulatory environment.</li><li>Specialized experience in either IFRS17 (for accountants) or K-ICS (for actuaries).</li><li>Experience with General Ledger SAP system is an added advantage.</li><li>Good presentation skills, with proficient MS skills (Excel, Power Point).</li><li>Proficient in English, written and spoken (preferred, but not required).</li><li>Ethical and attention to detail.</li><li>Ability to work well in a team, both local and cross-border.</li></ul>Additional InformationWe welcome applications from individuals affiliated with accounting/consulting firms who are available for a temporary project-based engagement.About Swiss ReSwiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world.

Job DescriptionDuration: 12 monthsYou will support the Head of L&amp;H Actuarial in developing the actuarial resources in North Asia, coaching junior colleagues and managing tasks and projects in the team. You will have a high degree of responsibility and autonomy.You will also help to manage the annual assumption update process for North Asia L&amp;H business in Asia Pacific, reviewing the experience analysis produced by the Korea L&amp;H market team and setting best estimate assumptions.You will provide leadership on key projects in the North Asia actuarial team, and will be responsible for driving improvements in the valuation modelling, processes and controls. You will be a key point of contract for Group and regional teams on North Asia actuarial matters, and responsible for communication of actuarial issues to other Finance teams in the context of earnings, capital, liquidity, etc. ResponsibilitiesGroup Reporting<ul><li>Alongside the Head of L&amp;H Actuarial, manage the production of North Asia L&amp;H reserves for Group results (IFRS 4, IFRS 17, SII) each quarter, participating in the landing process and ensuring the results are robust.</li><li>Provide value adding insight on the drivers of financial performance, movements in IFRS and SII results, experience emergence, and recommendations for management actions. </li><li>Produce the actuarial narrative on North Asia L&amp;H business to support FP&amp;A teams. Participate in the annual Operating Plan process</li><li>Undertake continuous improvement of reserving processes, analyses and controls in the North Asia L&amp;H actuarial team</li><li>Help to manage the annual assumption update process, reviewing the experience analysis produced by the business and leveraging the analysis to set the best estimate assumptions, working in conjunction with the regional L&amp;H Actuarial team for Asia Pacific.</li><li>Provide support &amp; guidance to the North Asia actuarial team on issues of methodology, appropriate techniques, and applying expert judgement. Review the work of team members</li><li>Support the local actuarial external audits and relationships with Korea auditors in relation to actuarial topics</li></ul>Statutory Reporting<ul><li>Undertake statutory reporting for the Korea branch, producing quarterly and annual L&amp;H IFRS17 and K-ICS results, including the calculation of insurance risk capital for the L&amp;H business as required</li><li>Provide support to the external Appointed Actuary for the Korea Branch in fulfilling their requirements as laid out in the Korean regulations</li><li>Work with the Capital Management team to provide accurate insurance risks forecasts to manage K-ICS capital within the comfort range, and assess the impact of any changes to the business or retrocession</li><li>Liaise closely with Pricing teams on the capital and reserving implications of new deals</li></ul>Projects &amp; Modelling<ul><li>Provide support in the implementation of new regulatory &amp; reporting regimes</li><li>Provide actuarial leadership on key projects as required</li><li>Provide support and guidance on the topic of actuarial Prophet modelling in North Asia, particularly with respect to the transition to seriatim modelling</li></ul>Relationships<ul><li>Be a key point of contact for Group and regional teams on Life &amp; Health actuarial matters in North Asia</li><li>Communication of actuarial issues to other Finance teams in the context of earnings, capital, liquidity, etc</li><li>Work closely with other teams within APAC, including the L&amp;H business unit, other colleagues in the wider Finance team, Pricing, and Risk management, to share common knowledge and common purpose</li></ul><ul><li>Support and encourage the growth and development of talent within the North Asia Actuarial team. Act as a role model within the team</li><li>Deputise for the Head of L&amp;H Actuarial, North Asia, as required</li></ul>QualificationsRequired experience &amp; competenciesExperience:<ul><li>Desirable: Fellow of international actuarial bodies (FSA, FIA, FIAA or equivalent)</li><li>Experience in relevant technical areas: IFRS4, IFRS17, Solvency II, experience analysis, or K-ICS statutory reporting. Prophet experience would be advantageous</li><li>Minimum of 8-10 years relevant experience</li><li>Experience leading tasks/projects or small teams</li><li>An interest in assuming appointed actuary responsibilities in the future, including a willingness to obtain FSS certification, would be an advantage but is not required</li></ul>Personal Competences:<ul><li>Enjoys working at pace, in a collaborative and open environment</li><li>Promotes continuous improvement and development</li><li>Proactive and experienced at stakeholder management </li><li>Strong technical skill set</li><li>Excellent communication and interpersonal skills. Fluent English speaker.</li><li>Creates a supportive environment when coaching junior team members, and when working with colleagues in the wider business</li><li>Interest in career and skill development – of self and others</li><li>Able to provide effective challenge to senior leaders</li></ul>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 &amp; Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life &amp; Health and Property &amp; 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.

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