Actuary - Pricing

Job description

Americas

Charlotte United States (US)

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Actuary - Pricing

Permanent

Actuarial

About SCOR

SCOR is the 4th largest Reinsurance Company worldwide, following a profit-driven underwriting policy and practising selectively across all branches of reinsurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
The Group’s strategy is based on a development model driven by three entities: SCOR Global P&C (Property and Casualty reinsurance), SCOR Global Life (Life reinsurance), and SCOR Global Investments (asset management).

Job Summary

The Actuarial- Pricing is responsible for timely completion of key transactional processes associated with pricing a deal within the approved pricing authority limit, assisting other team members with larger and more complex deals, completing peer review of assumptions, models, results and reporting, developing and maintaining strong relationships with the business deal team.

Key Duties and Responsibilities

· Key transactional pricing accountabilities for deals within approved authority limits include:
· Client experience and mortality assessment
· Pricing assumption setting
· Identification and quantification of risks in the proposed transaction and identification of mitigating structures or strategies
· Creating actuarial numeric data models, including liability population cells / data tables / other structures needed to properly price business.
· Generating model runs and sensitivities; verifying results are accurate; completing analysis to quantify changes in assumptions, methods, required reserves, product features and premiums, etc
· Presenting at Business Review meetings
· Working to gain approval from the Regional/Global referral teams for deals above local authority limits
· Completing documentation and reporting as required, ie SQP, CART, SalesForce
· Completing analysis and providing information required for potential internal retrocession
· Completing deal communication and hand-off to valuation/modeling teams for final, accepted deals
· All work is to be completed within the established Price Reinsurance Process and Pricing Guidelines
· Work collaboratively with other team members to complete pricing efforts for deals above approved authority limit.
· Work with Actuarial Pricing Team to deliver a quality and timely priced product to meet SGL and customer needs.
· Complete necessary analysis required for client requested treaty amendments, make recommendation on acceptance of proposed change.
· Develop and maintain strong partnership with marketing actuaries and account executives
· Work with Corporate Actuarial staff and counterparts to continually improve data modeling, establish valuation numbers, and hand off controls.
· Assist other departments on various corporate projection work (e.g., budget projections, VNB, etc.)
· Continue ongoing enhancements to performance management capabilities.
· Assist on various projects involving Life Solutions initiatives as they arise.
· Research technical topics, share knowledge, provide informed opinion of best course of action, and implement decision in the pricing process and models.
· Own at least one area of pricing expertise; serve as team subject matter expert

Required Experience & Education

· At least 5 years of life actuarial experience, including two years or more in a pricing and product development role; reinsurance industry experience preferred
· AXIS experience
· Solid mathematical analysis skills with strong problem solving ability.
· Excellent verbal & written communication skills.
· Highly motivated/self-starter.
· Must be able to work effectively independently & as part of a team.
· Proficiency in windows-based software (Excel, Access, etc.)
· Project experience desirable
· Proficiency in one or more life actuarial pricing systems
· Strong computer skills including learning new software and Microsoft Office Products.
· Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, Economics or related field with demonstrated record of academic excellence