Associate Actuary - U.S. Reserving
This position is part of the U.S. Reserving Team, which is responsible for actuarial activites associated with SCOR's US Life resinurance business, including the following: .• Quarterly valuation processes for IFRS and US Statutory/regulatory reserves, DAC, and VOBA. • Reserve reporting under multiple regulatory bases. • Analysis of actual versus expected business performance. • Required regulatory reporting (annual statements, X-factor testing). • Support Appointed Actuary in development of Actuarial Opinion Memorandum. • Support internal/external audits.
SCOR is an independent global reinsurance company, aiming to develop its Life and P&C business lines, to provide its clients with value-added solutions and to pursue an underwriting policy based on profitability, through effective risk management and a cautious investment policy. In this way, SCOR offers its clients an optimal level of security (AA- rating from S&P and Fitch and Aa3 rating from Moody’s) and creates value for its shareholders. The Group’s strategy is based on a development model driven by three entities: the P&C entity, the Life entity and the Asset Management division.
Key duties and responsibilities
• Assist in the preparation of quarterly financial information relating to seriatim and bulk life reinsurance business in accordance with IFRS, Statutory, US GAAP, and Tax principles. • Develops analyses as needed of financial results. Communicates insights to management on profitability by client, duration, etc. Provides other insights regarding financial results regarding statutory, GAAP, IFRS and tax methodology impacts and other factors. • Prepares actuarial information for entry into Everest/Omega and reconciles actuarial results to Everest/Omega (i.e. Everest Cubes, Omega Trial Balance, Actual to Plan analysis, LAT) using tools such as Recube and Business Objects. • Provides support to other areas such as accounting, FP&A, data management, etc. • Ensure that appropriate and auditable controls, reconciliations and documentation are maintained with respect to valuation. • Utilize technology to perform job functions more efficiently and to further automate the reserving processes. • Mentor and coach associates to provide knowledge and growth opportunities. • Complete special assignments and projects for the department as necessary.
Required experience and Education
• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Economics or related field with demonstrated record of academic excellence • Must have ASA designation • Must have 3+ year’s experience in a financial valuation environment. • Will participate in Actuarial Student Program until FSA is obtained. • Solid mathematical analysis skills with strong problem solving ability. • Excellent verbal & written communication skills. • Highly motivated/self-starter. • Must be able to work effectively independently & as part of a team. • Proficiency in windows-based software (Excel, Access, etc.) • Regular attendance and ability to work extended hours as necessary to meet deadlines. • Strong computer skills including learning new software and Microsoft Office Products.