Published on
20Sep16
Americas
Charlotte NC or Leawood KS
United States (USA)

Pricing Actuary

Job offer
Actuarial
Life

The Pricing Actuary is responsible for completing the key transactional processes associated with pricing a deal, developing and maintaining strong relationships with the deal team, and completing the peer review associated with pricing a deal, including pricing model reviews and reviews of assumptions set by other Pricing Actuaries.

About SCOR

SCOR is the 4th largest Reinsurance Company worldwide, following a profit-driven underwriting policy and practising selectively across all branches of reinsurance. 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.
The Group’s strategy is based on a development model driven by three entities: SCOR Global P&C (Property and Casualty reinsurance), SCOR Global Life (Life reinsurance), and SCOR Global Investments (asset management).
 

Key duties and responsibilities

Key duties and responsibilities
 
• Key transactional pricing accountabilities include: 
• Client experience and mortality assessment 
• Pricing assumption setting 
• Optimal product and deal structure 
• Identification and quantification of risks in the proposed transaction and identification of mitigating structures or strategies 
• Model projections 
• Present and obtain approval at Assumption Review and Business Review meetings 
• Interface with client to understand information sent as part of the RFP package and request additional information 
• Develop and maintain strong partnership with marketing actuary, account executive, and client 
• Own at least one area of retail product pricing expertise to assist with knowledge management and client support 
• Participate in or lead project assignments such as assumption revisions, new legal entity and deal structures, and product development. 
• Support basic research around automated underwriting utilizing electronic data. 
• Peer review of pricing analyst, technician, and assistant pricing actuary workflows which includes: 
• Model and assumptions used for new business quotes. 
• All supporting materials and studies used in Pricing Committee and Business Review packages 
• Project and analytical studies to support pricing assumptions 
• Peer review of assumptions and documentation prepared by other Pricing Actuaries 
• Assist other departments on various corporate projection work (e.g., budget projections, VNB, etc.) 
• Communicate effectively with pricing, marketing, product and senior management staff on deal status, expectations, strategy, and pricing assumptions. 
• Prepare and maintain workflow and pricing assumption documentation to satisfy all customers of the pricing process (Sales, Actuarial, Financial, Operations) 
• Work with Life Pricing Team, Product Area and Sales Team to continually improve pricing processes with respect to both quality and efficiency 
• May perform other duties as required
 

Required experience and Education

Experience: 
• At least 5 years of life actuarial experience, including two years or more in a pricing and product development role; reinsurance industry experience preferred
• Solid analytical skills with strong problem solving ability.
• Excellent verbal and written communication skills. 
• Highly motivated self-starter
• Project experience desirable
• Must be able to work effectively independently and as part of a team.
• Proficiency in one or more life actuarial pricing systems 
 
 
Personal Competencies:
Creativity/Innovation - Proposes/develops new solutions and new functioning modes.
Awareness of Market Evolutions - Is connected to his/her market/field of expertise, to his/her business evolutions and/or new technologies.
Problem Solving - Identifies and analyses issues, proposes and rolls out relevant solutions after appropriate approvals.
Communication - Knows how and when to develop/sustain a message and/or an idea (speaking and writing), uses the right tools to present information.
Resilience - Demonstrates an ability to step back when facing difficult situations and to bounce back after a failure.
Decision Making - Makes decisions and/or rolls out the decisions taking into account all available information.
Accountability - Alerts, raises the critical points when needed, shoulders and corrects his/her decisions and shows responsibility regarding cost management.
Reliability - Checks his/her work, challenges the solution before submitting it on time and identifies/corrects the mistakes if needed.
Commitment - Makes effort to bring his/her skills and uses his/her expertise to contribute to the success of the Group.
Open Mindedness - Is interested in projects and activities beyond his/her classical scope.
Curiosity - Demonstrates an appetite for learning and developing his/her-self in his/her field of expertise, can develop new practices and methods in relation with his/her day-to-day work.
Leadership - Demonstrates a capacity to drive positively, to convince, to federate around common purpose and to move the teams forward and acts as a role model.
Team Spirit - Helps his/her colleagues and facilitates working relationships seeking the consensus.
Feedback - Gives and takes into consideration constructive remarks, with his/her management, peers, clients and employees.
Flexibility - Adapts to change and shows reactivity to make the best of it.
 
Required Education:
• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Finance or Accounting or equivalent combination of education and experience.
• FSA and/or FCIA designation required

 

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