This position within a leading Reinsurer is an opportunity to join an actuarial team with a key role regarding the strategy of the company.
With over 40 offices worldwide and business involvement in more than 150 countries, SCOR (2,581 employees, €13 billion annual turnover) is the leading French reinsurer and the 5th largest reinsurance company worldwide.
SCOR is active in three main areas: Property and Casualty reinsurance, Life reinsurance and Asset Management.
In a competitive environment and with top level skills, SCOR promotes profitability, sustainability, empowerment, expertise and operational excellence.
The P&C Paris Reserving Team is composed of 2 Departments: Operational Reserving and Transversal Reserving. Within the Operational Department of the P&C Paris Reserving team, this position will give you the chance to develop from a core actuarial role into wider strategy areas and to work within the framework of a multi-cultural environment specific to such a worldwide company.
The Paris Operational Reserving team manages €3.4b Gross reserves (~30% of SCOR Global P&C stock as at Q2 2017).
Missions et responsabilités
A key part of the role will be to perform actuarial reserving studies, carry out the quarterly closings, participate in developing reserving tools and contribute to multi-functional projects.
The main tasks are:
- Carry out the quarterly technical closing (both IFRS and EBS)
- Perform the annual analysis relating to P&C Paris Technical Reserves (Best Estimate, Payment patterns, Coefficients of variation)
- Develop reserving studies including specific methodologies for complex segments
- Enhancement of current studies (French Medical Malpractice, French Motor Liability, Non-proportional Decennial, Latent Claims)
- Conduct studies of commutations and loss portfolio transfers
- Development of new studies in collaboration with pricing, underwriting and Claims (Non-proportional Casualty, Other Motor portfolios, Credit & Surety, Facultative Decennial…
- Ensure the timely completion of quality reserve analyses and actuarial reserve reports to management and auditors, commenting on adequacy of non-life reserves. This includes consideration of use of external actuarial consultants
- Provide with reserving inputs to the internal model team within the framework of Solvency II for Paris P&C reserves
- Work closely with the other reserving teams, IT and Division on the development and maintenance of tools and systems, being proactive in matters of methodology and new I.T. developments
- Make presentations about technical reserving topics (specific studies, new methodologies, technical results, tools…)
- Participate in developing internal collaboration with other functions including Finance, Actuarial pricing, Underwriting, Claims, local Accounting and external relations (local auditors)
- Participate to worldwide working groups within the Division to improve actuarial assumptions, parameters, methods and processes
Expérience requise et Formation
You have a master degree and are an Actuary from IA.
- You have 3/4 years of (re)insurance experience in an actuarial role.
- A first experience in a consulting firm would be an advantage.
Required competencies (Knowledge/Personality/Behaviour)
- Strong knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Access).
- VBA experience required.
- ResQ software knowledge would be an advantage.
- Excellent analytical skills.
- Excellent communication skills in both French and English.
- Strong aptitude, personality, and intellect; common sense and sound basic judgment.
- Broad intellectual capabilities, an outgoing nature, and the willingness to utilize, maximize and share resources across local organizations and the global operating structure as a whole.
- A personality capable of working efficiently across cultural boundaries.