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.
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.
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 APRAFile local entity APRA regulatory returnsSupport preparation of the company's annual financial condition reportSupport preparation of the company's financial statementsRespond to queries from internal/external reviewers and auditorsInvestigate what manual adjustments are necessary to the accounting system outputs and determine their impacts on the actuarial valuationVerify the consistency, completeness and reliability of the insurance policy and claim data used in the valuationIdentify areas of risk and weakness in technical reserves and develop resolution plansDevelop specific internal control processes for local financial reportingAdapt the group IFRS17 solution to improve local IFRS17 financial reporting processesDeliver meaningful business insight of valuation results to senior management and other stakeholders including underwriting, claims, pricing and marketing teamsCapital Management Calculate regulatory capitalReport quarterly the Australia legal entity capital position to the regulator APRAFile local entity APRA regulatory returnsDevelop and improve the model for capital monitoring and forecastingEvaluate capital impacts of various strategic business decisions including business plans, retrocession arrangements, new and modifications of existing dealsAssist the CRO and CFO in the preparation of the Internal Capital Adequacy Assessment Process (ICAAP) report such as producing projections and scenario analysesDetermine strategies for more efficient capital usageAssumption Setting Propose reserving assumptions for valuation of policy liabilities and capital requirementsEstimate financial impacts of assumption changesApply actuarial judgement to observed past experience and sparse data in forming views of likely future experienceTake reasonable steps to verify the consistency, completeness and reliability of the data used in and methodology of experience investigationsConsult with others in the business to gain qualitative insight into drivers of experience and potential future developmentsProphet Modelling and Other Projects Setup and run Prophet cashflow projection models for local IFRS17 calculationsPerform user acceptance testing of model changes as requiredSupporting Helios project to align with group data platform and transition to new processesExperience Fully qualified actuary of Actuaries Institute of Australia or equivalent professional body, with minimum 5 years post qualification work experience in reservingExpert knowledge of APRA regulatory standards and guidelinesSuperior understanding of IFRS17Strong time management skills and ability to work collaboratively to tight deadlinesPrior experience in capital modellingReinsurance experience, exposure to group insurance desirableHighly proficient user (coding not required) of Prophet actuarial projection systemAdvanced use of ExcelExperience with SQL and Python programming languages desirableCompetencies Agile, resilient and comfortable with handling ambiguity, shifting priorities, adapts quickly to new information and requirementsMeet tight reporting deadlinesInquisitive and analytical mindset knowing links between data, systems and processesMindset of balancing precision and materialitySuperior actuarial, problem solving, time management skillsAdvanced written and verbal communication skillsEnthusiastic, "can do" attitude approach to fast-paced workManage the reasonable expectations of stakeholdersWork collaboratively with teams in multiple geographic SCOR locationsAdvanced influencing and negotiation skillsAbility to work independently and to work within a team #J-18808-Ljbffr