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AVP/VP Senior Pricing Actuary

Chicago, IL, United States

Job Description

The pricing exercise is a complex analytical process requiring technical expertise and judgement. Cedent loss history, modelled results, market knowledge and individual account characteristics must be weighed and a final range of outcomes and point estimate of account profitability are arrived upon.

This process is ideally a collaboration between the pricer and the underwriter to establish a consistent and wholistic view of the client and the reinsurance contract and how it fits into the overall reinsurance portfolio. In addition, the individual will participate in projects to help shape and define the company's view of risk in the region. This will involve research and analysis around the topics of economic trends, social inflation, portfolio profitability monitoring, etc. This will be done collaboratively with experts in the team and stakeholders throughout the company including the Cat pricing team, reserving, underwriting, business analytics and more.

Responsibilities

Key duties and responsibilities

Participate in the renewal pricing workflow process and ensure stakeholder needs (underwriters, business analysts, retro, accumulation) are met accurately and efficiently

Perform individual reinsurance deal pricing analyses and collaborate with underwriters to understand the client and form a view of risk

Meet with clients and brokers. Participate in underwriting audits. Communicate SCOR's view of risk to internal and external stakeholders

Complete annual parameter studies and updates for Global pricing models

Monitor profitability of the portfolio. Adjust parameters and methodologies accordingly

Complete segment analyses, industry studies, and other various actuarial related projects and studies as needed.

Collaborate closely with the natural catastrophe pricing team on topics of common interest, in particular pricing provisions and methodologies for convective storm and hurricane losses

Work with stakeholders globally to design automated and semi-automated processes to deliver our work product more efficiently

Define appropriate experience rating and cedent-specific model adjustment methodologies to tailor treaty loss analyses to the specific risk

Implement tools, methods, and processes to allow low/medium risk reinsurance treaties to be priced and analyzed in a streamlined way

Qualifications

Required experience & competencies

Minimum of 10 years of P&C actuarial experience

Reinsurance or large account pricing experience

Knowledge of US property business including, homeowners, commercial property, inland marine, industrial and energy exposures

Familiarity with CAT modelling principles and data structures

Good communication skills, able to structure an argument and ability to explain complex issues simply

Experience managing pricing for a property portfolio a plus

Team player interested in sharing expertise

Strong technical and problem-solving skills

Strong background in statistical analysis a plus

Strong Excel skills required

Able to learn new data and digital tools as needed

Understand data capture, storage and analysis techniques, e.g. SQL, Python, R

Required Education

Minimum BS in Actuarial Science, Mathematics or Statistics

Master's Degree in Actuarial Science, Mathematics or Statistics preferred

Fellow of the Casualty Actuarial Society or equivalent

About Us

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. Leveraging experience and expertise to deliver "The Art & Science of Risk", SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk - from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.

In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.

At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR's success.

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