Senior Actuarial Analyst

Job title:

Senior Actuarial Analyst

Company

SCOR

Job description

Job Description:SCOR is a Tier-1 leading global reinsurer in P&C and L&H, executing an underwriting policy focused on profitability, developing value-added services, and adhering to a cautious financial policy in order to meet the expectations of their clients in terms of security. The Group has a global reach allowing it to serve the interests of all its clients as effectively as possible. The P&C and L&H sectors provide a diversification benefit and contribute in equal measure to the Group’s success, providing it with stability and lowering volatility.The Senior Actuarial Analyst will serve as a key member of the Americas P&C Actuarial Reserving team inside the global P&C Reserving department in the Finance domain. The global department manages and oversees the worldwide P&C Reserving activities in all its dimensions (Reserving and resilience strategy, modelling excellence and risk assessment cycles, quarterly performance analysis, governance and regulatory activities, feedback loop with P&C stakeholders, Reserving quarterly and annual process reengineering, Reserving community coordination, RECP and global initiatives). The department works very closely with the rest of the Finance Economic and Capital performance functions, the other finance teams (Accounting, Reporting, ALM, Investors relations, Risks partnerships), Group Actuarial and Risk Management as well as P&C Business functions (Pricing and Modelling, Claims, Underwriting).The team is responsible for the P&C book of the Americas hub covers the geographic region of North, Central, and South Americas. It consists of 15 offices that represent SCOR as legal entities, branches, and representative/marketing offices and 800+ employees.SCOR Reinsurance Company is the principal US Property & Casualty reinsurance subsidiary of the SCOR Group with approximately $2.6B in annual gross written premium and $1.4B of surplus. Primary US affiliate companies include General Security National Insurance Company (Direct) and General Security Indemnity Company of Arizona (Surplus Lines).SCOR Canada Reinsurance Company is the principal Canadian Property & Casualty reinsurance subsidiary of the SCOR Group with approximately CAD$500M in annual gross written premium and CAD$300M of surplus. Canadian business is also written in the Canadian Branch of SCOR UK Company Limited.The Senior Actuarial Analyst will provide insightful projections of reserve balances in a collaborative environment. They will work closely with Finance, Claims, Pricing, and Underwriting business partners to deliver best-in-class reserve estimates and associated insights. They will ensure accuracy in the quarter close balances under all applicable accounting standards (US STAT, Solvency II, IFRS17) and will seek to assist in driving process improvements and efficiencies.Responsibilities:

• Support the quarter close process to ensure accuracy of booked results under all applicable accounting standards.
• Perform reserving analyses for selected lines of business to include analysis of reserving assumptions (LDFs, ELRs), selection of best estimate indication, development of the reasonable range, and documentation of key assumptions.
• Partner with Accounting and Technical Closing, Underwriting, Claims, and Actuarial Pricing to develop / deliver well-rounded reserve estimates that provide business and the SCOR independent Boards of Directors with actionable business insights.
• Support the Appointed Actuaries of SCOR US and SCOR Canada with the preparation of various regulatory schedules,
• Collaborate with P&C Reserving or other peers outside of the Americas and with SCOR Group Actuarial to improve actuarial practices within the Global P&C Reserving community
• Collaborate to the different transformation and simplification, operational, technology and data initiatives
• Perform “deep dive” risk analyses / line of business studies as required.

Qualifications:

• Bachelors degree, preferably in Actuarial Science, Mathematics, Statistics, or similar.
• 5+ years of experience in pricing or reserving in an actuarial department of an insurance / reinsurance / consulting company.
• Successful completion of 3+ exams of the Casualty Actuarial Society, or equivalent.
• Exposure to US/Canada Statutory (re)insurance accounting. Knowledge of / experience with IFRS 17 and statutory/regulatory work (Actuarial Opinion, US Schedule P) is a plus.

Personal Competences:

• Experience with (re)insurance concepts with a preference to commercial lines of business.
• Demonstrated ability to present results to internal and external audiences.
• Ability to develop / maintain professional relationships across functional areas such as Claims, Underwriting, Financial Accounting, Actuarial Pricing.
• Demonstrated ability to understand numbers, analyze drivers of change, and develop actionable insights for business partners.
• Passionate about process enhancement with an eagerness to implement new approaches that improve the overall reserving product and drive efficiencies.
• Enjoys being a team player, sharing knowledge and collaborating to achieve team “wins”
• Advanced Microsoft Office skills, especially Excel and PowerPoint.
• Exposure to programming tools and languages such as VBA, R, or Python as well as AI.
• Exposure to Tableau or other data visualization tools is a plus.
• Knowledge of ResQ and SAP BusinessObjects is a plus.
• French speaker is a plus.

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.

Expected salary

Location

Toronto, ON

Job date

Wed, 18 Dec 2024 04:25:16 GMT

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