Reserving Expert

1 month ago

Singapore SCOR Full time

About SCOR

As a leading global reinsurer in Property & Casualty (P&C) and Life & Health (L&H), SCOR executes an underwriting policy focused on profitability, develops value-added services, and adheres to a cautious financial policy to meet client expectations in terms of security. With a global reach, SCOR serves its clients effectively across the globe.

The company's P&C and L&H sectors provide diversification benefits, contributing equally to the Group's success and providing stability while lowering volatility.

Job Description

We are seeking a highly skilled Actuarial Analyst to join our APAC P&C Actuarial Reserving team within the Finance domain. The successful candidate will be part of the Global P&C Reserving department, managing and overseeing activities across all dimensions, including Reserving and resilience strategy, modelling excellence and risk assessment cycles, quarterly performance analysis, governance and regulatory activities, feedback loop with P&C stakeholders, Reserving quarterly and annual process reengineering, Reserving community coordination, RECP and global initiatives.

The APAC P&C Reserving team is based in SCOR's offices in Singapore, Sydney, and Beijing, covering Property & Casualty Reinsurance and Specialty Business Solutions insurance business. This includes business written in approximately 30 countries and 7 legal entities in the region.

As a key member of our team, you will work closely with Finance, Claims, Pricing, and Underwriting business partners to deliver best-in-class reserve estimates and associated insights. You will ensure accuracy in quarter close balances under all applicable accounting standards, such as Local GAAP, Solvency II, and IFRS17, and drive process improvements and efficiencies.

Key Responsibilities

  • Support the quarterly reserving process, reviewing current internal processes and assessing required improvements for efficiency.
  • Assist the team with the annual reserve review and other reserving-related tasks, such as CoVs and risk margins calculations.
  • Prepare regulatory reports.
  • Conduct data reviews and harmonization and create ad hoc reports as required by the team/business.
  • Implement new models and technologies with the team.
  • Collaborate with Accounting and Technical Closing, Underwriting, Claims, and Actuarial Pricing to develop/deliver well-rounded reserve estimates that provide business insights.
  • Improve actuarial practices within the Global P&C Reserving community with the global P&C Reserving department and SCOR Group Actuarial.
  • Perform 'deep dive' risk analyses/line of business studies as required.

Requirements

  • Fresh graduates with a Bachelor's degree in Actuarial Science, Mathematics, Statistics, or similar.
  • Prior internship experience in pricing or reserving in an actuarial department of a Property & Casualty insurance/reinsurance/consulting company is ideal.
  • Knowledge of/experience with IFRS 17 and statutory/regulatory work in Asia-Pacific is a plus.
  • Knowledge of ResQ and IBM Business Object is a plus.
  • Experience with (re)insurance concepts, preferably commercial lines of business.
  • Demonstrated ability to present results to internal and external audiences.
  • Ability to develop/maintain professional relationships across functional areas like 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, eager to implement new approaches improving the overall reserving product and driving efficiencies.
  • A team player who enjoys sharing knowledge and collaborating to achieve team goals.
  • Advanced Microsoft Office skills, especially Excel and PowerPoint.
  • Exposure to programming tools and languages like VBA, R, or Python as well as AI.
  • Exposure to Tableau or other data visualization tools is a plus.

Compensation

The estimated annual salary for this role is $85,000-$110,000, depending on qualifications and experience. We offer a comprehensive benefits package and opportunities for growth and development within our organization.

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