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Stage - Group Cost Controlling & Budgeting H/F

Date: Jul 22, 2021

Location: Paris, FR

Company: SCOR

     EMEA     

Paris France (FR) 

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Stage - Group Cost Controlling & Budgeting H/F 

Internship 

Finance & Accounting 

 

 

          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.

 

Group Cost Controlling & Budgeting

 

The Group Cost Controlling & Budgeting department (“GCCB”) is a key function with regards to the management and analysis of SCOR’s Management expenses (e.g. Planning & Actuals). It is a key partner to COMEX members, Business units (Life, non-Life, Investments, Corporate), and Group functions (IT, HR, Group Projects Office, Group Legal…), in France and abroad. GCCB reports directly to the Group COO and closely works with Group CFO / Finance Teams.

The GCCB’s mandate focuses on monitoring, controlling, reporting, and planning SCOR management expenses. Key responsibilities encompass all areas related to the management of expenses within a financial service / reinsurance organization:

  • The management of the overall costing model and cost allocation & recharges process for the Group
  • Quarterly closing and reporting, costs and variances analysis
  • Ad-Hoc costs & performance analysis
  • Annual budgeting process, and tri-annual strategy planning
  • Supervision of expenses initiation and governance through the management of the Procure-to-Pay policies, processes, and systems

 

 

Key Responsabilities

 

This role will provide the candidate with a holistic overview of the management expenses whilst focusing on analytics.

Within the “Group Cost Controlling & Budgeting” team, the financial controller will actively participate in the development of the activities of this department.

A new costing model has been implemented Group-wide since January 1st, 2021. This model ensures that all allocations / costing / recharges rely upon group-wide harmonized cost model and cost accounting rules, providing a solid ground for cost transparency, analysis, and optimization, as well as reporting automation for the Group and all its entities. The trainee will receive a training on this model and will be involved in its application with the GCCB Team.

The trainee will be involved in various Controlling matters, including:

    • Participating in the annual budget process
    • Supporting the quarterly closing / landing process, contributing to performance / variances analysis
    • Participating in control activities related to Solvency 2 Data Quality aspects 
    • Supporting Hub controllers / Business Units for calibrating inputs / drivers needed for the allocation & recharge of management expenses
    • Contributing to the design and the documentation of the newly developed or updated processes and associated controls in the wake of the new costing model and the implementation of the SAP PaPM tool:
  • Participating in the elaboration of functional documentation
  • Coordinating inputs, reviews, and validations.
  • Liaising with key stakeholders in the GCCB team and Hub controllers / Local entities to roll out group processes.
  • Participate in the set-up of a governance framework to keep costing processes up to date fostering a continuous improvement culture and regular review sessions until maturity is reached
  • Supporting GCCB team in the implementation of the new IFRS 17 standard– Insurance contracts
  • Supporting the GCCB team in Procure-to-Pay support

    This role will provide the candidate with a holistic overview of the management expenses whilst focusing on analytics.

    Within the “Group Cost Controlling & Budgeting” team, the financial controller will actively participate in the development of the activities of this department.

    A new costing model has been implemented Group-wide since January 1st, 2021. This model ensures that all allocations / costing / recharges rely upon group-wide harmonized cost model and cost accounting rules, providing a solid ground for cost transparency, analysis, and optimization, as well as reporting automation for the Group and all its entities. The trainee will receive a training on this model and will be involved in its application with the GCCB Team.

    The trainee will be involved in various Controlling matters, including:

    • Participating in the annual budget process
    • Supporting the quarterly closing / landing process, contributing to performance / variances analysis
    • Participating in control activities related to Solvency 2 Data Quality aspects 
    • Supporting Hub controllers / Business Units for calibrating inputs / drivers needed for the allocation & recharge of management expenses
    • Contributing to the design and the documentation of the newly developed or updated processes and associated controls in the wake of the new costing model and the implementation of the SAP PaPM tool:
  • Participating in the elaboration of functional documentation
  • Coordinating inputs, reviews, and validations.
  • Liaising with key stakeholders in the GCCB team and Hub controllers / Local entities to roll out group processes.
  • Participate in the set-up of a governance framework to keep costing processes up to date fostering a continuous improvement culture and regular review sessions until maturity is reached
  • Supporting GCCB team in the implementation of the new IFRS 17 standard– Insurance contracts
  • Supporting the GCCB team in Procure-to-Pay support

 

Profile

 

Currently following or completing an advanced curriculum (Master, Business or Engineering School), with a major in finance / accounting / controlling, you have acquired a solid basis in business finance matters and are strongly motivated to see them applied in practice.

Rigorous, you are also curious, humble, at ease with numbers, their analysis and their presentation. Excellent knowledge of Excel is required for this internship.

The position requires the following:

  • Team Player – open-minded, contributing efficiently to teamwork, listening, and proposing ideas
  • Problem Solving - identifies and analyses issues, proposes and rolls out relevant solutions after appropriate approvals
  • Sense of service - good understanding and listening skills to provide support and assistance to the end-user
  • Communication - knows how and when to develop/sustain a message and/or an idea (orally or in writing), and uses the right tools to present information
  • Accountability - raises critical points when needed, shoulders and corrects his/her decisions
  • Reliability - checks his/her work, challenges the solution before submitting it on time and identifies/corrects the mistakes if needed
  • Technical Skills:
    • Masters the basic functions of the Office Pack (Word, Excel, Power Point)
    • Well-acquainted with collaborative tools (Outlook, Teams, Sharepoint, etc.)
  • Language skills: fluently communicates orally and in writing in French and in English, the daily working languages of the GCCB Team.