Job Detail

     EMEA     

Zurich Switzerland (CH) 

|

(Senior) Reserving 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 Summary

The core function of the Non-Life Reserving team and the role of a Reserving Actuary is the estimation of the reserve adequacy of SCOR Switzerland and Italy for different legal entities while developing contribution to multi-functional projects within P&C Reserving beyond the Hub.

Key duties and responsibilities

• support the quarter close process, with responsibility for selected lines of business


• manage explanation of results and preparation of reports for selected lines of business, liaising with the technical controlling team


• lead the reserving of a global specialty line of business, manage quarterly communication to P&C BUs Finance, Claims, Underwriting and Pricing and coordinate with local reserving managers across P&C Reserving


• perform the annual analysis relating to SCOR Switzerland and Italy (Best Estimate, Payment patterns, Coefficient of variation)


• work closely with underwriting, claims, actuarial pricing and technical accounting/controlling to answer queries or address cross functional issues


• support the Appointed Actuary of SCOR Switzerland with the review of the internally assumed business and other related matters


• interact with reserving teams from other Hubs of P&C BU, in particular through worldwide working groups to improve actuarial practices within the P&C Business Unit and separately to gain understanding of the internally assumed business to SCOR Switzerland


• support other team members with implementation of new methodologies, automation and new IT tools related directly or indirectly to reserving tools (e.g. ResQ, stochastic methodologies, BO reports)


• support the P&C Business on other tasks (e.g.: ADC, LPT, improvement of existing processes…)


• participate in global projects - this might involve but is not limited to Global P&C reserving projects


• contribute to the training, knowhow transfer and development of the more junior members within the team

Required experience & competencies

Experience:

• Around 5 to 7 years practical working experience in Reserving or Pricing in an Actuarial department of an Insurance / Reinsurance/ Consulting company

Personal Competences:

• Strong communication skills – written and oral


• Good social skills required, enjoys working in a team environment and sharing knowledge


• Good analytical skills with the ability to understand numbers and analyze drivers of changes in results


• A proactive personality with a solution-oriented approach and capable of working efficiently across cultural boundaries


• Knowledge of reinsurance 


• Knowledge of finance and accounting, ideally familiarity with IFRS 17


• Knowledge in data science and experience with large datasets and databases would be an advantage


• Computer skills
  
  
  
  • Advanced Microsoft office skills in particular Excel and Word
  
  
  • Knowledge of programming languages such as VBA, R or Python
  
  
  • Knowledge of Tableau or other data visualisation tools
  
  

• Knowledge of the reserving tool ResQ © and Business Objects would be an advantage

Education & Language requirements

• University degree preferably in Actuarial Science, Mathematics/Statistics or discipline with focus on quantitative Finance 


• Fully qualified Actuary (i.e. SAV, ACAS, FCAS or FIA)


• Business proficiency in English, both written and spoken (near to native speaker level); good conversational skills in German desired

Important note:

• Priorization is given to Swiss based candidates with valid work permit for Switzerland


• Recruitment Agency applications are only accepted through official agency portal  and by preferred suppliers (not on behalf of candidate)


• Start date: as of 1 December 2020 or upon agreement