Corporate Actuary - Corporate Actuarial Canada - Canada

Location: Toronto, ON
Company Name: SCOR

Americas

Montreal Canada (CA)

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Corporate Actuary - Corporate Actuarial Canada

Permanent

Actuarial

About SCOR

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Using its experience and expertise, “ The Art & Science of Risk ”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. 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.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

Job Summary

This position is part of the Canadian Corporate Actuarial Team, which is responsible for actuarial activities associated with SCOR’s Canada Life & Health reinsurance business, including the following:

• Review/maintenance of actuarial models
• Support IFRS 17 Implementation for Group and local reporting
• Quarterly production runs for Best Estimate Liabilities/Projections, IFRS and Canada regulatory reserves, and DAC
• Quarterly valuation processes for IFRS and Canadian regulatory reporting
• Economic reporting production (Development of best estimate assumptions, Analysis of Change and Sensitivities)
• Assessment, implementation and monitoring of stress testing program
• Assessment of own capital requirements and regulatory internal capital targets
• Work with Appointed Actuary - development of Appointed Actuary Report, Dynamic Capital Adequacy Testing and Required Capital Calculations
• Collaborate with the following departments:

• Finance in producing internal and regulatory reports
• Risk Management - ORSA and quarterly risk dashboards
• Operations – quarterly closing processes, data management & analysis for valuation and for mortality study, administer retrocession
• FP&A team - quarterly analysis of actual versus expected business performance and Operating Plan production

• Support internal/external audits
  

- Key duties and responsiblities

• Participate in IFRS 17 program:
  • Perform gap assessment between Group general design and local requirements
  • Design and implement model changes needed to accommodate IFRS 17 reporting
  • Support OSFI quantitative information surveys related to changes to Canadian capital guideline in relation with IFRS 17
  • Testing and reconciling results
  • Design and implement controls for new and updated processes
• Review and/or perform quarterly valuation processes for Group IFRS and Canadian regulatory reporting, including regulatory capital filings
• Review and/or perform economic reporting processes, including review of best estimate assumptions, analysis of changes and sensitivities, production and review of Operating Plan
• Perform and review experience studies and profitability analysis
• Support assessment of regulatory and own capital requirements
• Ensure that appropriate and auditable controls, reconciliations and documentation are maintained with respect to work performed or supervised.
• Utilize technology to perform job functions more efficiently and to further automate the reserving and financial projection processes. Share technology solutions with other associates and work with the IT area to move ad hoc improvements into a controlled production environment.
• Complete special assignments and projects for the department as necessary
• May perform other duties as required
  

- Required experience and Education

• Bachelor’s Degree in Actuarial Science with demonstrated record of academic excellence
• FSA or ASA in pursuit of FSA
• Must have at least 7 years of experience with actuarial valuation.
• Knowledge of AXIS valuation software
• Proficiency in windows-based software (Excel, Access, etc.)
• Strong analytical skills with strong problem-solving ability.
• Excellent verbal & written communication skills.
• Demonstrated ability to understand broader picture and impact of decisions.
• Building and maintaining relationships with colleagues throughout the SCOR Group.
• Demonstrated ability to understand complex models and perform valuation, modeling, and analysis to deliver required results.
• Demonstrated ability to identify and implement departmental processes and controls and ensure appropriately documented.
• Technically astute within the actuarial discipline and industry software applications.