SVP, Inforce Optimization

1 month ago

Charlotte, United States Scor Full time
Job Description

Key resource for US and Global Executive management with respect to current and future projected performance of US Inforce business, current and future options for remediating poor performing business, market trends as it relates to performance management, and negotiating with clients to come to resolution on actions taken. Leadership role within the US serving as a role model for SCOR Values, helping to shape strategic direction, supporting SCOR's global strategic plans and serving as a resource for both US and Global Executive Management teams.

Responsibilities

  • Oversee monitoring of inforce business performance, with heightened focus on poor performing blocks and those trending negatively.
  • Identify, recommend, drive and oversee performance management actions on US Inforce business, from collaborative engagement with clients to exercising treaty rights with rate actions.
  • Work closely with Legal team to review and assess treaty language, historic pricing , and inforce data to recommend best options to remediate poor performing business.
  • Close collaboration with New Business team to engage in a positive and professional manner with clients to find solutions and engage in routine performance discussions with clients.
  • Work closely with Finance and Actuarial on accounting and valuation considerations and assumptions related to US Inforce business.
  • Serve as a resource for the New Business and Legal teams in new business treaty negotiations that factor in long term performance management considerations and maintaining franchise value.
  • Manage team of actuarial and data professionals supporting company's performance management process.
  • Serve as mentor to actuarial students and junior actuaries on team and help direct performance and careers.
  • Close partnership with Human Resources in managing team, performance of team members, following all required processes for individual and team performance assessments, setting goals, recognizing achievement and addressing concerns within the team.
  • Assure that all databases are maintained and up to date, complete and accurate from which SCOR analyzes performance and bases its management actions and strategic decisions upon.
  • Work with team and other departments to assess effectiveness of tools/systems currently available to team and new options for consideration to improve automation and efficiency of workflow.
  • Partner cross functionally on individual performance management actions, US and Global Projects.
  • Understand the intricacies and implications Solvency II and IFRS 17 on performance management process and impacts.
  • Maintain a deep understanding of optionality (for both SCOR's and our clients' perspectives) contained within the US Inforce business, which factor in long term franchise value.
  • Oversee assessment of performance management actions taken by retrocessionaires and cedents impacting SCOR.
  • Work with local and global teams to address questions and issues raised by regulators, auditors, and consultants, among others, related to performance of US Inforce business, and both prior and future performance management actions.
  • Serve as team lead in close coordination with Legal and Executive team on all disputes arising from performance management actions.
  • Provide comprehensive, timely and reliable information to all stakeholders in order to support the performance management decision-making processes.
  • Assure that all required and appropriate governance processes are followed and documented.
  • Oversee process carried out by team members to validate that management actions are implemented properly by clients.
  • Ensure all required monitoring of negotiated resolutions are carried out, such as experience refund and annual performance trigger assessments.
  • Close coordination with all client facing teams and back office teams, including New Business, Operations, Legal, Finance, Actuarial, Experience Analysis, and Pricing, to ensure clear understanding of performance concerns, client discussions and strategy and related matters.
  • Transparency, clear communication, and coordination with all members of US management and their delegates, and Global management as needed, for development and execution of performance management strategy.


Qualifications

  • Extensive life insurance and/or reinsurance industry experience (15+ years) in pricing, design valuation, rating agency & regulatory capital requirements, and financial analysis of life and health insurance products from both a reinsurer and client perspective.
  • Knowledge of Solvency II, IFRS 17, US GAAP, and US Statutory accounting methodologies.
  • Sound technical financial skills, analytical ability, good judgment and strong operational focus.
  • Wide-ranging leadership / management skills with both technical and non-technical teams.
  • Well-organized and a self-directed individual who is a team player.
  • Intelligent and articulate individual who can relate to people at all levels of an organization.
  • Must possesses strong communication skills.
  • Good educator who is trustworthy and willing to share information and serve as a mentor.
  • Decisive individual who possesses a both big picture strategic perspective and can execute on the task based aspects of the job).
  • Ability to read, analyze and interpret the most complex financial documents, respond effectively to the most sensitive inquiries or complaints, and the ability to make effective and persuasive presentations.
  • Be able to gain, through past successes in SCOR and other quality organizations, immediate credibility as an extremely capable business leader. This individual will challenge existing convention and not settle for the status quo.
  • Work effectively and collaboratively across organizational boundaries and develop strong working relationships with leaders in all business units and functions (Legal, Finance, Actuarial, Experience Analysis, Pricing, Operations, New Business, Risk, etc.) in order to be a highly effective high-performance team.
  • Be willing to take charge and to effectively and persuasively communicate to both technical and business audiences and inspire trust and confidence.
  • Lead by example as an inclusive team player that lives the SCOR Values.
  • Enjoys working in an environment of constant change, high energy and challenge.
  • Bring energy and enthusiasm to the role and the organization.
  • Demonstrate focused drive and strong work ethic.
  • Demonstrate excellent business acumen.
  • Be able to establish precedent and effective processes where none may exist today.
  • A close linkage to strategic account management and deep understanding of or top clients' historical performance, projected future performance, and relationships.


About Us

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.

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