This role will support all aspects of Deal Management from being part of an execution team for new deals to onboarding those deals and maintaining them on SCOR’s existing platforms. The role holder will work closely with senior actuaries in the continuous improvement of the team’s processes and tools. As part of loading new deals, the role holder will need to model the complex underlying benefits. Strong data analysis skills will therefore be important.
There will be opportunities to work in projects across the wider longevity team, including Business Development and Research. Working across a number of areas within the wider team will help develop a breadth of knowledge and skills of the overall Business as well as the tools and processes used.
The post holder will be expected to support the senior team in front of clients and other stakeholders (internal and external), with the expectation of them taking the lead and building out those relationships themselves over time. Excellent communication skills and a professional and confident presence will therefore also be required.
The role holder will be exposed to a wide range of tasks across the whole team including:
1. Ensure treaties are adhered to, resolving breaches where necessary in a client focused way.
2. Build, adapt and sign-off complex calculation tools for modelling claims and premiums.
3. Use various tools to calculate collateral exposures of SCOR and SCOR’s clients under the terms of the reinsurance arrangement.
4. Work with senior actuaries to build out and maintain a framework for managing, and frequently monitoring the appropriateness of collateral exposures of SCOR and SCOR’s clients under the terms of the reinsurance arrangements
5. Play an active part in building and maintaining relationships across the pension de-risking community of our market both in the UK and overseas.
6. Take an active role in project managing in-force projects such as basis reviews, novations and trivial commutations, and help to draw in internal and external stakeholders as appropriate.
7. Perform analyses of in-force deals for the purpose of setting future valuation assumptions, refining future pricing bases and spotting potential treaty breaches and irregularities.
8. Work across the team to continue to helpto standardise and modernise the in-force management processes and tools.
9. Analyse areas within existing processes for automation and implement where appropriate, adopting Agile practices to facilitate change
10. Co-ordinate activities across teams, both UK and non-UK, to help onboard and maintain recently transacted longevity arrangements to SCOR’s existing platforms.
11. Develop and maintain a good understanding of the risks of longevity business.
There will be the requirement to oversee the work of more junior colleagues and to build networks and co-ordinate work across other internal teams both inside and outside the UK.
Experience:
12. Good progress with actuarial exams since leaving University; completed all Core subjects.
13. A few years of post University insurance/pensions/reinsurance/consultancy experience
Necessary Skills:
14. Knowledge and understanding of UK annuities and benefit profiles
15. Ability to model financial products (particularly escalating annuities)
16. Excellent communication (written and oral) and interpersonal skills
17. Strong data analysis skills
18. Attention to detail
19. Motivated to learn and share best practices and learnings
20. Good team-working and collaborative skills
21. Ability to work to hard milestones and deadlines
22. Ability to problem solve
23. Professional and confident presence
Digital Competencies:
24. ‘R’ programming language
25. Microsoft Word (Intermediate), PowerPoint (Intermediate)
26. Prophet
27. Excel (Intermediate)
Education
28. Undergraduate degree – minimum grade 2:1, or equivalent qualifications.