Accumulations Lead, Casualty

Are you an expert in Property and Casualty risk modelling and aggregation, particularly in US Casualty? Do you have a passion for improving business performance through strategic risk selection and accumulation control? If so, we have an exciting opportunity for you!

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.

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

As team lead you will

• Define scope of use and processes to support SCOR's strategy and improve the performance of the casualty lines of business via both risk selection and accumulation control.
• Support underwriters during client visits as it relates to Casualty exposure data and Accumulation.
• Develop processes ranging from supporting the Global and Legal Entity accumulations of risks to monitoring against limits / capacities
• Contribute to the event response process as it relates to Casualty lines.
• Enhance, harmonize and maintain the tools and systems to support the risk accumulation process
• Expertise in Property and Casualty risk modelling and aggregation, in particular US Casualty is essential. The job also requires significant internal interaction with stakeholders across many functional areas including underwriting/ management, actuarial pricing (and reserving), legal and claims.

Some of the key areas of responsibility are as follows;

Team Lead for the exposure management of Casualty related Reinsurance and Specialty exposures

• Lead the groupwide accumulation processes from all major risk sources for all casualty related exposures.
• In collaboration with the Casualty CUO and other Casualty UW experts;
  • Define new risk scenarios to continuously assess emerging risks and challenge the accumulation approach, including leveraging from data sources which reflect social, technical and legal factors to develop more comprehensive and forward-looking views of the casualty landscape and improve underwriting risk selection and risk mitigation.
  • Steer the portfolio through analyses of the evolution of accumulation and portfolio optimization analyses & develop a strong relationship with business partners across both Divisions to implement a well-defined process for monitoring and management of capacities.
• Training of Casualty underwriters on the new Casualty Capacity framework such that during the renewal the understanding of the consumed capacity is clearly understood and adherence to the capacity limits can be effectively controlled as well as supporting underwriters during client visits when exposure data and Accumulation are topical.
• Monitor P&C's risk profile and define alert trigger point and referral process for risk accumulation.
• Leverage from the accumulation output to challenge / re-calibrate the P&C Capital Modelling Tool.
• Manage all regulatory and rating agency reporting requirements for the Group and legal entity, including ORSA and governance documentation whilst coordinating with the Group's global risk reporting community.
• Contribute to the groupwide casualty related major event response with catastrophe loss estimation, in close coordination with claims, underwriting, actuarial.
• Actively contribute to various ERM initiatives including ad-hoc reporting requests, risk assessments on emerging risks, internal and external audits, risk training etc.

Team Lead for the development, maintenance and update of the tools and processes supporting the Casualty related Accumulation Management

• Processes:
  • Establish a strong relationship with the owners of the data feed by establishing a well-defined process.
  • Develop new methods & processes to enhance SCOR's casualty catastrophe modelling capabilities and quantification of casualty risks.
  • Harmonize the approach for the risk identification and aggregation, the assessment, the monitoring and the reporting of the accumulations at various levels (risk, portfolio, cedent, region, country, entity, division…)
  • Define and implement guidelines on data (structure and type) needed for the analysis of the accumulations (including refinement of the optimal frequency of updates)
• Tools:
  • Enhance, harmonize and maintain the tools and systems to support the risk accumulation process
  • Develop a strong relationship with SCOR's casualty vendor models to including coordination with central functions on licensing and contract renewal negotiations.

Member of the following committees:

• Global Accumulation Committee

Experience:

Extensive insurance or reinsurance experience in actuarial or quantitative areas such as capital modelling, pricing and/or reserving or technical underwriting, with a focus on Casualty related lines with a significant concentration of this experience related to US Casualty.

Personal Competencies:

• Excellent Analytical and Synthesis skills: Drills down to explore root causes of observable facts; is able to reduce complicated factual contents to the essentials.
• Sound knowledge of insurance/reinsurance business and principles.
• Hands-on leadership with excellent communication skills: Has very good listening skills and communicates clearly and concisely verbally and in writing at all levels
• Collaborative spirit: key to both the risk aggregation process
• Good understanding of Actuarial/Risk Assessment/Financial Techniques in particular related to the aggregation of risks.

Digital Competencies:

• Experience in using standard business software a must.
• Competence in a language/tool supporting numerical programming very useful (e.g. R, Python), noting that the role will have expert support in this area from other team members.

Required Education

• Degree in a field of study where strong quantitative skills, or equivalent

If this sounds like an opportunity for you then please do not hesitate to submit your application to us.