Associate Actuary

1 month ago

New York, United States Scor Full time
Job Description

The Associate Actuary will serve as a key member of the Americas P&C Actuarial Reserving team, providing insightful projections of reserve balances in a collaborative environment. She/he will work closely with Finance, Claims, Pricing, and Underwriting business partners to deliver best-in-class reserve estimates and associated insights. She/he will ensure accuracy in the quarter close balances under all applicable accounting standards (US STAT, SII, IFRS17) and will seek to drive process improvements and efficiencies.

In addition to the above, the Associate Actuary will work closely with the Sr. Reserving Actuary to develop materials for internal meetings too detail and communicate reserving indications. The incumbent will also support the Chief Actuary, SCOR US to develop materials for SCOR's independent Board of Directors, provide support for the annual Statement of Actuarial Opinion, and assist with audit compliance.

Responsibilities

Key Duties and Responsibilities
  • Perform reserving analyses for selected lines of business to include analysis of reserving assumptions (LDFs, ELRs), selection of best estimate indication, development of the reasonable range, and documentation of key assumptions / rationale
  • Partner with Financial Accounting and Closing, Underwriting, Claims, and Actuarial Pricing to develop / deliver well-rounded reserve estimates that provide business colleagues and the SCOR US independent Board of Directors with actionable business insights
  • Support the quarter close process to ensure accuracy of booked results under all applicable accounting standards
  • Collaborate with reserving teams outside of the Americas and with SCOR Group Reserving to improve actuarial practices / drive efficiencies within the Global P&C Reserving community
  • Support the statutory filing process including the annual Statement of Actuarial Opinion and associated exhibits / schedules
  • Collaborate with auditors, ensuring timely responses to requests and adherence to regulatory compliance
  • Perform "deep dive" risk analyses / line of business studies as required


Qualifications

Required Experience & Competencies
  • 5+ years of experience in pricing or reserving in an actuarial department of an insurance / reinsurance / consulting company.
  • Successful completion of 5+ exams of the Casualty Actuarial Society, or equivalent
  • Exposure to (re)insurance concepts with a preference towards commercial lines of business.
  • Strong communication skills with the ability to present results to internal and external audiences.
  • Experience with US Statutory Reserve Opinions and associated statutory schedules is a plus
  • Exposure to US Statutory (re)insurance accounting. Knowledge of / experience with Solvency II and IFRS 17 is a plus.
  • 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, suggesting new approaches / techniques to improve the overall reserving product, and drive efficiencies
  • Enjoys being a team player, sharing knowledge, and collaborating to achieve team "wins"
  • Advanced Microsoft office/Office 365 skills, especially Excel
  • Exposure to programming tools such as VBA, R or Python
  • Exposure to Tableau or other data visualization tools
  • Knowledge of ResQ and SAP BusinessObjects is a plus
  • French speaker is a plus


About Us

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver "The Art & Science of Risk", SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk - from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.

In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.

At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR's success.

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