Actuary - Pricing

About SCOR

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.

SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.

Job Summary

The Actuary - Pricing is responsible for supporting the timely completion of the pricing process according to SCOR methods and key controls for all assigned deals. Key transactional processes include assumption development, actuarial model development, model runs and sensitivities, the generation of thorough documentation, performing peer reviews, and developing good working relationships with the business deal team (Client Solutions, Underwriting, and Experience Analysis).

Responsibilities

• Assess and develop pricing assumptions focused on mortality, persistency, sales mix, and net amount at risk.
• Consider potential risks inherent in proposed transactions and assumptions and help determine risk mitigation strategies.
• Develop actuarial models, including liability population cells, data tables, and other structures essential for the proper pricing of life reinsurance.
• Generate model runs and sensitivities; verify the accuracy and reasonability of metrics; analyze and quantify the impact of changes in assumptions, methodologies, reserve requirements, product features, premium structures, etc.
• Create clear assumption and reasoning documentation for review with deal owners and/or marketing team.
• Ensure pricing work follows the SCOR General Life and Health Underwriting and Pricing Guidelines, meets accuracy requirements and profitability goals, and that ICS processes and controls are followed and documented as necessary.
• Complete deal close out activities for accepted deals including communication and hand-off to valuation/modeling teams, SQP, Salesforce, and CART updates.
• Drive continuous improvement in the pricing area by sharing thought leadership and leading/participating in project related efforts on technical topics related to pricing standards, processes, methodologies, and assumptions.
• Establish good working relationships with marketing actuaries.
• Own at least one area of pricing expertise; serve as team subject matter expert.
• May perform other duties as required.

Desired Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Data Analytics, Finance, Economics, or related areas
• Fellow of the Society of Actuaries with current CPD compliance; career ASAs considered
• At least 3 years of life actuarial experience; reinsurance industry experience preferred
• Experience pricing life insurance products including valuing life insurance liabilities under US Statutory, GAAP, and/or International Accounting Standards (IFRS17)
• Up-to-date knowledge of life insurance laws, regulations, insurance products, and emerging underwriting practices
• Skilled in analyzing experience studies using statistical techniques and predictive models to develop mortality and lapse assumptions
• Proficiency in one or more life actuarial pricing systems with AXIS or Prophet preferred
• Familiarity with AI and basic knowledge of statistical programming languages (Python experience preferred)
• Solid mathematical analysis skills with strong problem-solving ability
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