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SII Assumptions Actuary

Date: Apr 30, 2021

Location: London, GB

Company: SCOR

     EMEA     

London United Kingdom (GB) 

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SII Assumptions Actuary 

Permanent 

Actuarial 

 

 

          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.

 

Job Specification
  

  • Contribute to the continued transformation to a best-in-class actuarial department. This will involve using modern data tools to actively implement process improvements and efficiencies across the actuarial modelling, reporting and assumption setting processes.
  • Lead the Best Estimate Assumption Setting process for all UK business
  • Participate in the regular Solvency II reporting work ensuring reports are delivered within deadlines to required standards.
  • Deliver timely and good quality actuarial services to internal and external stakeholders


Principal duties and responsibilities

Process Improvements and Efficiencies:

  • Proactively identify and implement process improvements and efficiencies to reduce manual effort within the corporate reporting team. This includes Prophet model developments, improving controls and documentation/audit trail. 

 

Best Estimate Assumption Setting: 

  • Lead the assumption setting process for expenses, longevity, protection mortality, morbidity and  lapses.


Quarterly and Year End Solvency II reporting

  • Undertake tasks as required to ensure that the quarterly calculations and reports are completed in line with agreed deadlines and to the accuracy levels expected by the users and recipients. Metrics covered include BEL, ANAV and VNB.
  • This includes providing inciteful commentary explaining YTD movements
  • Complete annual sensitivity reporting as required to support the capital model calculations

   
Management of Direct Report

  • Plan work, have regular 121s, set objectives, annual reviews, give constructive feedback, support development.

 

Other

  • Participation in other departmental activities as required for example Internal Model calibration work or audits.
  • Participation as required in wider UK or Group projects, for example IFRS17. 
  • Actively participate and contribute to SCOR’s actuarial community, including relevant ad-hoc actuarial, inter-departmental or Group projects.
  • Keep abreast of the current developments of UK & EU regulatory and financial reporting standards for life insurers.
  • Build and maintain professional relationship with other life functional areas, internal & external auditors and SCOR UK’s business partners.

 

Required education

Essential: 

  • Newly qualified member of UK actuarial profession (or equivalent)


Required experience & competencies
Essential

  • Minimum of 5 years’ experience in the Life (re-)insurance industry
  • Excellent knowledge of Microsoft packages (particularly Excel)
  • Knowledge of the UK protection market
  • Knowledge of Data Science applications such as R, Python or Tableau

 

Desirable

  • Knowledge of UK longevity market
  • Experience of coding in Prophet
  • Proven ability to code in Excel VBA

 

Personal Competences:

  • Excellent technical and analytical skills 
  • Attention to detail
  • Excellent communication skills
  • Strong appetite for driving change
  • Ability to work autonomously
  • Flexible Innovative
  • Team spirit

 

Technical Competencies

 

Python coding    2    (Proficient )                                    
Agile methodology / SCRUM 1 (Novice)                      
Data Science    1   (Novice)                                      
                                                         
      

If you are interested in this opportunity then please submit your CV to us via our recruitment portal.