Senior Valuation Actuary, L&H Reserving, APAC

Job Summary

As Senior Actuary, APAC L&H Reserving, you will be responsible for supporting L&H group reserving activities (covering IFRS4, IFRS17, and Solvency II) as well as Singapore statutory reporting. You will also support in the annual assumption update process for L&H business in Asia Pacific, reviewing the experience analysis and setting best estimate assumption, in conjunction with other APAC L&H Reserving leaders.

You will provide actuarial leadership on key projects in the region and will have a high degree of responsibility and autonomy.

You will regularly deputise for the Head of L&H Reserving on various transversal Life & Health topics.

About the Department: APAC L&H Reserving

The APAC Reserving team is based in SCOR’s offices in Singapore, Sydney, Beijing and Seoul, and covers the Life & Health business. This includes business written in c.30 countries and 13 legal entities in the region. We are a diverse and engaged team, providing expert actuarial analysis and insight for our stakeholders. The department is led by the Head of L&H Reserving, Asia Pacific.

Responsibilities

Group Reporting

• Support the production of L&H reserves for Group results (IFRS 4, IFRS 17, SII) each quarter, participating in the landing process and ensuring the results are robust.
• Provide value adding insight on the drivers of financial performance, movements in IFRS and SII results, experience emergence, and recommendations for management actions.
• Support the annual assumption update process, reviewing the experience analysis produced by the business and leveraging the analysis to set the best estimate assumptions, working in conjunction with the other APAC L&H actuarial team leaders.
• Lead the expense assumption review for APAC L&H each year.
• Provide guidance to other APAC L&H actuarial teams on issues of methodology, appropriate techniques, and expert judgement
• Lead the external audits and relationships with local auditors in relation to actuarial topics
• Lead the standardisation and continuous improvement of reserving processes, analyses and controls across the APAC L&H actuarial teams

Statutory Reporting

• Lead all Singapore statutory reporting for both the Singapore branch and for the Korea branch of SRAP, producing quarterly and annual RBC2 results, Industry Wide Stress Testing, and supplying stress tests & analysis for the Own Risk and Solvency Assessment
• Work with the Capital Management team to provide accurate insurance risks forecasts to manage capital within the comfort range for these entities
• Liaise closely with Pricing teams on the capital and reserving implications of new deals for these entities

Projects & Modelling

• Be the overall lead for all Covea reporting work in the region
• Provide support in the implementation of new regulatory & reporting regimes
• Provide support in the implementation of new regimes – such as IFRS17 – across the L&H actuarial teams
• Provide actuarial leadership on key projects as required

Relationships

• Establish good working relations with Group and regional teams on Life & Health actuarial matters in APAC
• Communication of actuarial issues to other Finance teams in the context of earnings, capital, liquidity, etc.
• WorkcloselywithotherteamswithinAPAC, including the L&H business unit, the CFOs of the branches, other colleagues in the wider Finance team,Pricing, andRiskmanagement,toshare common knowledge and commonpurpose.

Management & Leadership

• Support the growth and development of talent in the APAC Reserving team
• As a senior leader in the APAC Reserving team, be a role model for the wider team

Qualifications

Experience:

• Fellow of international actuarial bodies (FSA, FIA, FIAA or equivalent)
• Experience in relevant technical areas: IFRS4, IFRS17, Solvency II, experience analysis, or local statutory reporting. Prophet experience would be advantageous
• Minimum of 10 years relevant experience
• Experience leading tasks/projects and small teams

Personal Competences:

• Enjoys working at pace, in a collaborative and open environment
• Promotes continuous improvement and development
• Highly organised and proactive, with the ability to manage multiple competing priorities
• Excellent analytical and conceptual skills, with a solution-focused mindset
• Strong interpersonal and intercultural competencies, including with respect to cultural differences in different markets
• Proactive and expert at stakeholder management
• Creates a supportive environment within the team, and when working with colleagues in the wider business
• Interest in career and skill development – of self and others
• Able to provide effective challenge to other seniorleaders

About us

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.