SCOR is a tier one leading global reinsurer in Property & Casualty (P&C) and Life & Health (L&H), executing an underwriting policy focused on profitability, developing value-added services, and adhering to a cautious financial policy in order to meet the expectations of their clients in terms of security. The Group has a global reach allowing it to serve the interests of all its clients as effectively as possible. The P&C and L&H sectors provide a diversification benefit and contribute in equal measure to the Group's success, providing it with stability and lowering volatility.
The Actuarial Analyst will serve as a member of the APAC P&C Actuarial Reserving team and part of the Global P&C Reserving department within the Finance domain.
The Global P&C Reserving department manages and oversees activities in all its dimensions (Reserving and resilience strategy, modelling excellence and risk assessment cycles, quarterly performance analysis, governance and regulatory activities, feedback loop with P&C stakeholders, Reserving quarterly and annual process reengineering, Reserving community coordination, RECP and global initiatives). The department works closely with the broader Finance functions, Group Actuarial, Risk Management and the P&C Business functions (Pricing and Modelling, Claims, Underwriting).
The APAC P&C Reserving team is based in SCOR’s offices in Singapore, Sydney and Beijing and Seoul covers Property & Casualty Reinsurance and Specialty Business Solutions insurance business. This includes business written in c.30 countries and 7 legal entities in the region. We are a diverse and engaged team, providing expert actuarial analysis and insight for our stakeholders. The department is lead by the Head of P&C Actuarial for Asia Pacific.
The Actuarial Analyst will provide insightful projections of reserve balances in a collaborative environment. They will work closely with Finance, Claims, Pricing, and Underwriting business partners to deliver best-in-class reserve estimates and associated insights. They will ensure accuracy in the quarter close balances under all applicable accounting standards (Local GAAP, Solvency II, IFRS17) and will seek to assist in driving process improvements and efficiencies.
Key duties and responsibilities
- Support the quarterly reserving process, including the review of current internal processes and assessment of required improvements to gain efficiency.
- Assist the team with the annual reserve review and other reserving related tasks, such as CoVs and risk margins calculations.
- Assist with the preparation of regulatory reports.
- Data reviews and harmonisation and creation of ad hoc reports as required by the team/business.
- Supporting the team to execute on the implementation of new models and technologies.
- Collaborate with Accounting and Technical Closing, Underwriting, Claims, and Actuarial Pricing to develop / deliver well-rounded reserve estimates that provide business insights.
- Collaborate with the global P&C Reserving department and with SCOR Group Actuarial to improve actuarial practices within the Global P&C Reserving community
- Perform “deep dive” risk analyses / line of business studies as required.
Required experience & competencies
- A least 2 years of experience in pricing or reserving in an actuarial department of a Property & Casualty insurance / reinsurance / consulting company.
- Bachelors degree, preferably in Actuarial Science, Mathematics, Statistics, or similar
- Knowledge of / experience with IFRS 17 and statutory/regulatory work in Asia-Pacific is a plus.
- Knowledge of ResQ and IBM Business Object is a plus.
- Experience with (re)insurance concepts with a preference to commercial lines of business.
- Demonstrated ability to present results to internal and external audiences.
- Ability to develop / maintain professional relationships across functional areas such as Claims, Underwriting, Financial Accounting, Actuarial Pricing.
- Demonstrated ability to understand numbers, analyze drivers of change, and develop actionable insights for business partners.
- Passionate about process enhancement with an eagerness to implement new approaches that improve the overall reserving product and drive efficiencies.
- Enjoys being a team player, sharing knowledge and collaborating to achieve team goals.
- Advanced Microsoft Office skills, especially Excel and PowerPoint
- Exposure to programming tools and languages such as VBA, R, or Python as well as AI
- Exposure to Tableau or other data visualisation tools is a plus
