AVP, Senior Reserving Actuary

The position is responsible to support the activities of the SVP, Americas P&C Chief Reserving Actuary on the US entities and Brazil entities and UW perimeters with a focus on the Casualty exposure.

The standards covered are the IFRS 17, Solvency II and baseline on a contributive basis and the US STAT on a stand-alone basis for the US entities. The position is expected to demonstrate analytic leadership across the US legal entity portfolio, including close coordination with Pricing, local Finance, Claims, Underwriting, and the Americas management teams. 

The position will also assist the SVP, Americas P&C Chief Reserving Actuary in reporting to the US Board of Directors and other stakeholders such as regulators, auditors, and peer reviewers. 

The AVP, Senior Reserving actuary will be expected to build and foster productive business relationships, mentor less experienced team members, assist in attracting talent as needed, and be an active participant in global reserving initiatives.

The position is also expected to be a key contributor and champion to P&C Reserving department’s initiatives.

• Quarterly / Annual Reserve Reviews: Coordinate and contribute to the quarterly roll-forward and annual reserve reviews for all US legal entities across all standards, notably baseline, Solvency II, US STAT, and IFRS 17.

• Quarterly Reserving Reporting and Compliance: Produce and present quarterly loss reserve results to the SVP Reserving P&C Americas as well as the committees / boards of the relevant legal entities

• Performance cycle and business dialog: Collaborate with P&C BU and R&P counterparts to ensure a robust Feedback-loop and contribute to the portfolio analyses and quarterly performance reviews on the assigned portfolios.

• Compliance Third Party Management: Respond to reserving related queries from, and maintain good working relationships with, all relevant supervisory bodies, auditors, peer reviewers, and the like

• Reserving Process Enhancements: Work closely with department R&P Regional and Central peers to develop, maintain, and enhance data foundations, reserving tools and diagnostics. Investigate novel reserving  approaches / methodologies where appropriate.

• Actuarial Opinion Support: Assist the US P&C Appointed Actuary in the completion of the annual actuarial opinion summary and opinion report. Maintain currency with regulatory developments relevant to loss reserves. Coordinate with Risk Group Actuarial, internal/external auditors, regulators, peer reviewers, and other regulatory stakeholders.

• Staff Development / Recruiting Support: Mentor and develop less experienced actuarial talent. Participate in recruiting new talent to fill open position.

Key Deliverables / Activities

• Manage quarterly roll-forward and annual detailed reserve reviews for business written on the US legal entities.

• Coordinate quarterly feedback loop meetings to solicit qualitative feedback for inclusion in the reserve analysis and enable periodic cross-functional discussions of business performance

• Participate in the management of peer reviewers, internal / external auditors, regulators, and other third parties for reviews specific to insurance reserves

• Participate in the development / enhancement of reserving tools, diagnostics, and reporting in close cooperation with the Central P&C Reserving team and other reserving colleagues

• Maintain and complete quarterly internal SCOR ICS controls related to the insurance reserves for the US legal entities

• Support the required regulatory deliverables including the actuarial opinion, Schedule P, and other reserving inputs to the overall statutory deliverables

• Support analyses of the business plans and the ORSA process for the US legal entities

• Assist with talent development, mentoring and recruiting for open positions.

• Qualified actuary (FCAS preferred) with minimum 10 years of relevant non-life insurance work experience in the US market with demonstrated strong expertise in casualty exposures.

• Comprehensive understanding of US regulatory requirements, US STAT / GAAP, and familiarity with IFRS17 and Solvency II

• International insurance experience is a plus

• Excellent interpersonal skills and proven ability to present complex issues to non-actuaries and to be comfortable and credible in terms of meeting with senior management and the Board(s).
• Exceptional analytical and problem-solving skills 
• Innovative mindset with ability to drive transformation and adapt to changing environments. 

Relocation assistance within the U.S. is available for this position. 

Candidates must have valid authorization to work in the U.S. without the need for employer sponsorship now or in the future.

Hybrid Work Policy: SCOR is committed to an "in office" culture where people can collaborate, exchange ideas, and establish stronger working relationships while still providing flexibility. To support employee work-life balance and increase opportunities for employees to excel every day, SCOR operates with a hybrid working arrangement. SCOR employees work 3 days per week in an office with the flexibility to work 2 days per week remotely.
Pay Range for roles performed in IL: $162,500-$220,000 NY: $176,000-$239,000 base salary per year. Actual salaries may vary based on various factors including but not limited to location, experience, role and performance.  The range listed is just one component of SCOR's total compensation package for employees. Other rewards may include annual bonuses, short- and long term incentives. In addition, we provide a variety of benefits to employees, including health insurance coverage, life and disability insurance, a retirement saving plan, paid holidays and paid time off.

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.