Job Summary
This role provides key support to the Australia Chief Financial Officer, Appointed Actuary and ANZ Head of Reserving in financial reporting, capital management and assumption setting responsibilities on the local statutory basis.
The position is permanent full-time based in Sydney.
Financial Reporting
Report quarterly the Australia legal entity insurance liabilities to the regulator APRA File local entity APRA regulatory returns Support preparation of the company's annual financial condition report Support preparation of the company's financial statements Respond to queries from internal/external reviewers and auditors Investigate what manual adjustments are necessary to the accounting system outputs and determine their impacts on the actuarial valuation Verify the consistency, completeness and reliability of the insurance policy and claim data used in the valuation Identify areas of risk and weakness in technical reserves and develop resolution plans Develop specific internal control processes for local financial reporting Adapt the group IFRS17 solution to improve local IFRS17 financial reporting processes Deliver meaningful business insight of valuation results to senior management and other stakeholders including underwriting, claims, pricing and marketing teams Capital Management
Calculate regulatory capital Report quarterly the Australia legal entity capital position to the regulator APRA File local entity APRA regulatory returns Develop and improve the model for capital monitoring and forecasting Evaluate capital impacts of various strategic business decisions including business plans, retrocession arrangements, new and modifications of existing deals Assist the CRO and CFO in the preparation of the Internal Capital Adequacy Assessment Process (ICAAP) report such as producing projections and scenario analyses Determine strategies for more efficient capital usage Assumption Setting
Propose reserving assumptions for valuation of policy liabilities and capital requirements Estimate financial impacts of assumption changes Apply actuarial judgement to observed past experience and sparse data in forming views of likely future experience Take reasonable steps to verify the consistency, completeness and reliability of the data used in and methodology of experience investigations Consult with others in the business to gain qualitative insight into drivers of experience and potential future developments Prophet Modelling and Other Projects
Setup and run Prophet cashflow projection models for local IFRS17 calculations Perform user acceptance testing of model changes as required Supporting Helios project to align with group data platform and transition to new processes Experience
Fully qualified actuary of Actuaries Institute of Australia or equivalent professional body, with minimum 5 years post qualification work experience in reserving Expert knowledge of APRA regulatory standards and guidelines Superior understanding of IFRS17 Strong time management skills and ability to work collaboratively to tight deadlines Prior experience in capital modelling Reinsurance experience, exposure to group insurance desirable Highly proficient user (coding not required) of Prophet actuarial projection system Advanced use of Excel Experience with SQL and Python programming languages desirable Competencies
Agile, resilient and comfortable with handling ambiguity, shifting priorities, adapts quickly to new information and requirements Meet tight reporting deadlines Inquisitive and analytical mindset knowing links between data, systems and processes Mindset of balancing precision and materiality Superior actuarial, problem solving, time management skills Advanced written and verbal communication skills Enthusiastic, "can do" attitude approach to fast-paced work Manage the reasonable expectations of stakeholders Work collaboratively with teams in multiple geographic SCOR locations Advanced influencing and negotiation skills Ability to work independently and to work within a team As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk.
Applying "The Art & Science of Risk," SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.
Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by "The SCOR Way." Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group.
We care about clients, people, and societies.
We perform with integrity.
We act with courage.
We encourage open minds.
And we thrive through collaboration.
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