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Chief Business Performance Officer

Date: May 20, 2021

Location: Seoul, KR

Company: SCOR

     APAC     

Seoul Korea (the Republic of) (KR) 

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Chief Business Performance Officer 

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 Summary

Valuation and Local Finance Management

 

Key duties and responsibilities

Valuation Management

  • Oversee the production of the IFRS4, Solvency II and Local GAAP valuation for the North Asia market. 
  • Ensure all financial reporting requirements are met within the scheduled timelines and in line with Group and Business Unit standards.
  • Manage the external actuarial audit process for North Asia and relationships with local auditors on actuarial topics.
  • Manage the assumption setting process, including sign-off, for North Asia (including for VNB and Plan purpose)
  • Manage the development of tools and processes and ensure a strong valuation framework is in place
  • Control the actuarial input for the annual forecasting and ensure management have a full appreciation of potential risks and impacts on company profitability.
  • Drive clear communication with all Business Unit teams on technical valuation topics
  • Manage actuarial valuation reports and documentation under IFRS directive for Japan / Korea.

 

Managerial Accounting & FP&A (including Local GAAP)

  • Reporting on Quarterly Business Closing and Monitoring on local KPIs and recommendation of strategy (including delivery of quarterly memos to SGL Finance)
  • Leading quarterly landing process for the macro-market in close co-operation with SGL Reserving and FP&A
  • Identify actions to be taken in response to emerging experience on in-force business
  • Retrocession Management [ Treaty, information flow, settlement etc ]
  • Preparation of business plans for the macro-market
  • Budget plan, allocation, and monitoring and reporting.
  • TA Dashboard management [ Loss ratio, local reserve monitoring, Settlement status and cash flow management]
  • Capital & Solvency management / monitoring – engagement with Business Unit and Hub finance teams
  • to proactively address open issues and develop forward-looking plans
  • Reconciliation between local GAAP and IFRS
  • Leading financial reporting for SRAP in relation to Korean Branch of SRAP, including analysis of business performance
  • Lead the North Asia market’s contribution to the SCOR Group IFRS17 project, including:
    • Testing and dry run activities in 2021 and 2022
    • Communicating with local management on the financial impacts of the transition to IFRS17
    • Implementation for local reporting in Korea.


Administration / Technical Accounting / Omega (Ensure a proper administration of the Business and the technical Accounting activities)

  • Responsible for the follow-up of treaty administration (assumed & Retro), which means valid entries of terms & conditions in Scor Administration Platform (Omega)
  • Monitor the correct reception of Client Statement of Account / Bordereau and set-up appropriate controls to check the accuracy of financials & proper entries of Technical Accounting in our system
  • Responsible for Cash flows follow-up (settlements)
  • Ensure a proper communication to client when relevant (reminders, confirmation letters)
  • Manage the application of standard Business Rules, guidelines & best practices to Technical Accounting processes
  • Ensure the auditability, security & compliancy of the full Technical Accounting process & answer to Internal & External Auditors questions upon request from them

 

Actively support CEO in management of key issues that arise for North Asia market

Support the Chief of Actuarial Intelligence Officer in the effective management of all inforce business

Management and development of the Business Performance team

Operational Excellence

  • In coordination with Life Competency Centers (Omega, Helios) reach Operationnal Excellence through innovation, Best in Class processes in order to optimize efficiency and minimize risks

Data Gathering

  • Client interaction and management for data gathering
  • Support Helios implementation in the MM
  • Ensure proper usage of Helios for data gathering from clients
  • May perform other duties as required
  • Contribute to group/global projects such as IFRS 17, Helios

 

 

Required experience & competencies

Experience:  

  • Product in direct insurance companies or reinsurance companies

Personal Competences:

  • Must be able to work effectively independently and as part of a team.