Job Summary
The position is responsible for the Actuarial reserving processes for SCOR’s P&C business written on SCOR Canada and SCOR UK, Canadian Branch legal entities ( Relevant Entities ) as well as select Americas reserving segments covering exposures across the Americas.
In particular, the position is responsible for all required regulatory duties associated with insurance reserves for the Relevant Entities including the Appointed Actuary’s Report ( AAR ) and Financial Conditions Testing ( FCT ).
The position will manage the quarterly and annual reserving processes under all GAAPs, notably IFRS17.
The position is expected to demonstrate analytic leadership across the Canadian portfolio, including close coordination with Pricing, Finance, the Canadian and Americas management teams, the Canadian Board of Directors, and other stakeholders (regulators, auditors, peer reviewers, etc.
The successful candidate will be expected to build and foster productive business relationships and mentor less experienced team members.
Key duties and responsibilities
Serve as the Appointed Actuary for SCOR Canada and SCOR UK, Canadian Branch. Complete annual actuarial opinion and AAR in accordance with OSFI, AMF, and CIA guidelines.
Complete annual FCTs. Keep abreast of regulatory developments relevant to loss reserves. Liaise with auditors, regulators, peer reviewers, and other regulatory stakeholders.
Complete the quarterly and annual reserving processes for all Relevant Entities in all GAAPs with a specific focus on IFRS 17.
Produce and present quarterly reserving results to the Americas Chief Reserving Actuary as well as the relevant committees / boards of the Relevant Entities
- Collaborate with Underwriting, Claims, Pricing, Capital Modelling, Retrocession, and Risk teams to ensure a robust feedback loop across assigned reserving segments and Relevant Entities
- Respond to reserving related queries and foster good working relationships with all relevant supervisory bodies, auditors, peer reviewers, and the like
- Work closely with other group and local reserving teams to develop, review and maintain appropriate reserving tools, diagnostics, and methodologies
- Enhance management information and reporting to improve efficiency and business insight
- Mentor and develop less experienced actuarial talent
- Participate in strategic or transversal projects as requested.
Key Deliverables / Activities
- Complete required regulatory deliverables including the AAR and FCTs for all Relevant Entities
- Manage the engagement with peer reviewers and auditors for reviews specific to insurance reserves
- Complete quarterly internal SCOR ICS controls related to the insurance reserves for the Relevant Entities
- Complete quarterly reserve roll-forwards and annual details reserve reviews for business written on the Relevant Entities and other assigned reserving segments
- Coordinate quarterly feedback loop meetings to solicit qualitative feedback for inclusion in the reserve analysis and enable periodic cross-functional discussions of business performance
- Support analyses of the business plans for the Relevant Entities
- Support input into the ORSA process for the Relevant Entities, including but not limited to central scenario inputs to balance sheets and reserving-related adverse scenarios
Required Education and Qualification
- Qualified actuary (FCIA preferred) with minimum 12 years of relevant non-life insurance work experience, with at least 6 years of experience in the Canadian market
- Comprehensive understanding of Canadian (OSFI) regulatory requirements and IFRS17
- International insurance experience is a plus
French language skills are a plus
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