AVP/VP Senior Pricing Actuary

2 months ago

Chicago, United States Scor Full time
Job Description

The pricing exercise is a complex analytical process requiring technical expertise and judgement. Cedent loss history, modelled results, market knowledge and individual account characteristics must be weighed and a final range of outcomes and point estimate of account profitability are arrived upon.

This process is ideally a collaboration between the pricer and the underwriter to establish a consistent and wholistic view of the client and the reinsurance contract and how it fits into the overall reinsurance portfolio. In addition, the individual will participate in projects to help shape and define the company's view of risk in the region. This will involve research and analysis around the topics of economic trends, social inflation, portfolio profitability monitoring, etc. This will be done collaboratively with experts in the team and stakeholders throughout the company including the Cat pricing team, reserving, underwriting, business analytics and more.

Responsibilities

  • Participate in the renewal pricing workflow process and ensure stakeholder needs (underwriters, business analysts, retro, accumulation) are met accurately and efficiently
  • Perform individual reinsurance deal pricing analyses and collaborate with underwriters to understand the client and form a view of risk
  • Meet with clients and brokers. Participate in underwriting audits. Communicate SCOR's view of risk to internal and external stakeholders
  • Complete annual parameter studies and updates for Global pricing models
  • Monitor profitability of the portfolio. Adjust parameters and methodologies accordingly
  • Complete segment analyses, industry studies, and other various actuarial related projects and studies as needed.
  • Collaborate closely with the natural catastrophe pricing team on topics of common interest, in particular pricing provisions and methodologies for convective storm and hurricane losses
  • Work with stakeholders globally to design automated and semi-automated processes to deliver our work product more efficiently
  • Define appropriate experience rating and cedent-specific model adjustment methodologies to tailor treaty loss analyses to the specific risk
  • Implement tools, methods, and processes to allow low/medium risk reinsurance treaties to be priced and analyzed in a streamlined way


Qualifications

Required experience & competencies
  • Minimum of 10 years of P&C actuarial experience
  • Reinsurance or large account pricing experience
  • Knowledge of US property business including, homeowners, commercial property, inland marine, industrial and energy exposures
  • Familiarity with CAT modelling principles and data structures
  • Good communication skills, able to structure an argument and ability to explain complex issues simply
  • Experience managing pricing for a property portfolio a plus
  • Team player interested in sharing expertise
  • Strong technical and problem-solving skills
  • Strong background in statistical analysis a plus
  • Strong Excel skills required
  • Able to learn new data and digital tools as needed
  • Understand data capture, storage and analysis techniques, e.g. SQL, Python, R

Required Education
  • Minimum BS in Actuarial Science, Mathematics or Statistics
  • Master's Degree in Actuarial Science, Mathematics or Statistics preferred
  • Fellow of the Casualty Actuarial Society or equivalent


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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