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Actuary - Annuity Systems Lead

Date: Jun 5, 2021

Location: London, GB

Company: SCOR

     EMEA     

London United Kingdom (GB) 

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Actuary - Annuity Systems Lead 

Permanent 

Business Support 

 

 

          About SCOR         

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. Using its experience and expertise, “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

 

Role Overview

SCOR are seeking an Actuary (or equivalent) to take over leadership of a newly built actuarial data/benefit modelling system for our Longevity (annuities) business line.
This opportunity could suit an actuarial coder (or equivalent) who is looking to quickly progress their career into full system ownership/management or a candidate with prior data system ownership experience.

The candidate will be responsible for:
•    Creating new annuity cashflow models (including ensuring best practice methodology), initially personally but within 12 months by also managing others within the Onboarding Team
•    Maintenance of existing cashflow models, initially personally but within 12 months by also managing others within the Onboarding Team
•    Identifying and specifying future system enhancements (including integration with SCOR’s evolving wider systems and processes) and working with IT and Operations to deliver.
•    Upwards stakeholder management
•    Within a year of appointment, the candidate will be seen as the go-to authority/leader on the system

The Suite has three elements 

 

ETL
•    Transforms incoming data formats (dates, genders, alive status of pensioners etc) into a common data structure used by the Data Processing Application


Data Processing Application
•    Cashflow (benefit) modelling - calculates key financial amounts relating to each benefit for each policyholder, for any given point of time.
•    Calculates historic over/under payments caused by late reported alive status or corrected data errors.
 

Data Extraction Tool
•    Extracts data from the Data Processing Application database, in a format ready for use by the downstream systems used by SCOR’s Actuarial and Accounting teams.

Leadership of these systems will require an Agile mindset, and a keenness to embrace and explore new technologies such as data analytics and data visualization.

 

Profile 

We are ideally looking for a candidate who is an Actuary or  has euivalent knowledge & capabilities

 

Experience
Mandatory:

•    Detailed knowledge and understanding of UK annuities & benefit profiles 
•    Experienced SQL (or similar) user
•    Ability to decipher complex nested formulae from Excel


Preferred (at outset or soon after):
•    Excel macros
•    Data Analytics
•    Project Management

 

Competencies
Mandatory:

•    Excellent technical and analytical skills
•    Creative and innovative with respect to problem solving
•    Excellent communication (English) and interpersonal skills  
•    Attention to detail
•    Motivated to learn and share best practices and learnings
•    Good team-working and collaboration skills
•    Ability to work to hard milestones and deadlines
•    Ability to adjust to varying or unexpected changing conditions and priorities


Preferred (at outset or soon after):
•    Team Leadership
•    Product Ownership
•    Upwards Stakeholder Management
•    Setting and Maintaining Documentation and Audit standards
•    Appreciation of Data Security Requirements
•    Driver of Tool/System Enhancement
 

If you are interested in this position please submit your details to us via our recruitment portal.