Senior Pricing Actuary

Job Summary

The role covers all aspects of

• Independently performing P&C treaty/MGA portfolio pricing

• Regularly contributing to the development of pricing methods and tools

• Participate actively in the development of market benchmarks

• Working closely with underwriters to deepen market knowledge and gather specific deal information

• Experienced in identifying key drivers impacting the portfolio performance to support the underwriting in the decision-making and drive company growth in the region

• Starting to provide technical guidance and training of junior staff and interns

• Starting to lead market and actuarial projects

Key duties and responsibilities

• Drive Transactional Pricing:
  The individual in this role will independently execute the following tasks with a high level of expertise:

  • Provide risk assessment of contracts and offer technical support to Underwriting teams through transactional pricing and modelling and provide peer review for programs up to the D risk level
  • Deliver ad-hoc services for Underwriting and external clients as needed
  • Contribute to the calibration of pricing parameters in xAct, under the guidance of the Central Pricing Team (CPT)
  • Drive performance and profitability analyses in collaboration with the portfolio monitoring team
  • Assist in R&D activities to improve SCOR’s view of risks and the pricing and modelling models, in close collaboration with P&C operations (Non-Cat R&D)
  • Participate in the development and sharing of knowledge across teams
• Business Partner to Underwriting:
  Work alongside underwriting colleagues to analyse and price reinsurance contracts in accordance with guidelines and deadlines, identify and communicate key risk loss drivers, and provide advice on pricing issues
  • Provide insights for and participate in the planning process
  • Regularly participate in client meetings to better understand client/market risks, giving structural advice and new ideas, drive demand-based product innovation
• Influence decision-making:
  Influence business decisions by providing pricing recommendations and participating in strategic committees on planning and performance steering for the region
• P&M activities, processes and methods improvement:
  Participate in the evaluation and enhancement of the P&M processes, workflows, methods, tools (xAct, vendor models, new tools, ...), identifying opportunities for automation, standardisation and streamlining to gain efficiency, focus on the creation of innovative and tailor-made solutions adapted to the change in portfolio mix
• Projects:
  Participate in projects, interacting closely with other regions and working with P&C Operations and other stakeholders

Experience

• At least 5 years’ work experience in the financial services industry, preferably in reinsurance/insurance with a focus on analytical and/or actuarial work, for instance the development and structuring of reinsurance products, financial instruments, and pricing tools
• Strong mathematical, modelling, technical background
• Knowledge in P&C lines of business and reinsurance underwriting is an advantage

Personal Competences

• Highly motivated and driven individual who has the maturity to work with a diverse group of personalities

• Strong work ethics and ability to work in a rapidly changing and complex environment

• Strong organizational and time management skills

• Advanced communication and collaboration skills with effective interpersonal verbal and written skills to communicate with non-technical colleagues

• Advanced analytical and problem-solving skills

• Good business acumen – synthesizes analytical skill with business insight

• Creative initiative-taker, dynamic and driven, who formulates new concepts, challenges the status quo

• Self-starter who finds creative solutions and brings positive attitude to address challenges

• Willingness to travel in the region

Required Education 

• Excellent academic qualifications including a minimum of a bachelor’s degree in mathematics, actuarial science, other scientific discipline (statistics, physics, natural science), economics or finance

• An advanced degree (master’s or PhD) would be a plus

• Insurance qualification or actuarial credentials are strongly preferred

As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.

Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.

As an international company, our common culture is defined by “The SCOR Way.” Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.

SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.