SCOR defines Alternative Solutions as techniques that insurance companies or large corporates use to assume, transfer or finance risks other than by way of traditional reinsurance.
Within the Alternative Solutions Business Unit, you are in charge of maintaining the technical support to the Alternative Solutions underwriting team and the functions with primary focus on Americas.
The job will require significant interaction with underwriters, actuaries, claims, reserving, accounting, finance & management across SCOR P&C so as to leverage and share the knowledge and systems with the wider SCOR community
Job Summary :
Alternative Solutions is a department of P&C Solutions. P&C Solutions is a key unit within SCOR P&C which brings technical and underwriting services to the two business units of the Division : Reinsurance and Specialty Insurance.
Alternative Solutions provide a wide range of highly sophisticated solutions for the transformation, financing and transfer of (re)insurance risks.
The SCOR Alternative offering consists in : - Structured (re)insurance contract (multiyear multiline products, retrospective reinsurance, structured quota-share, 2nd event protections, ) - Parametric solutions - Fronting solutions.
Alternative Solutions team members are located in Paris, Zurich, London, New York and Singapore and beneficiate from P&C division support, work closely with other P&C market managers and various functions.
Within Alternative Solutions, your responsibilities will be :
- To monitor performance of AS transactions with a primary focus on North America.
- To provide support to the AS underwriters in the analysis of clients reports, claims information and any other relevant information.
- To assist the CTO for the proper follow-up of the transactions in strong coordination with the division technical functions (Claims, Finance, Accounting and Reserving mostly) with a primary focus on North America.
- Control proper application of contract clauses, ensure decisions are made to meet with contractual rights (such as right for audit, right for early termination ).
Key duties and responsibilities :
- Provide dedicated technical support to the AS underwriters, especially for North America risks. This requires very close communication with both the underwriters and the various functions such as Claims, Reserving and Finance, to understand and monitor the structure very accurately.
- Provide further support to the underwriters to prepare and negotiate their offers and for marketing activities. This includes preparing marketing materials to explain the concept or the options, client intelligence and market intelligence, participating in client and broker meetings, developing business connections and the AS business flow.
- Contribute to the integration of the AS specific process in SCOR’s global processes by frequent informal reporting of key analytics to all partakers (Internal activity reports, Deal maintenance, Finance, Technical accounting, Reserving, Internal Control )
- Follow-up the assigned contracts : review of periodical accounts and profitability review
- Contribute to the technical knowledge by providing studies, analysis to underwriting teams, to specific client request, including writing technical newsletters.
Required experience & competencies :
- Ideally, a minimum of 7-10 years' work experience in reinsurance in an international environment, as underwriting assistant or in an accounting / finance position
- Ability to use complex spreadsheets, word and power point
- Sound knowledge of subjects associated to (re)insurance as well as a wider understanding of related actuary, accounting, legal, regulatory and capital management topics
- Ability to manage projects in coordination with various stakeholders
- Team player, and the ability to work independently, Flexibility, Proactive
- International minded
- Excellent communication and interpersonal skills
- Analytical, organizational and reporting skills
Required Education :
A minimum of a college degree in Actuarial Science, Engineering, Finance or equivalent discipline. Business degree in addition would be a plus.
SCOR is committed to an in-office culture where people can collaborate, exchange ideas, and establish stronger working relationships while still providing flexibility.
To support employee work-life balance and increase opportunities for employees to excel every day, SCOR operates with a hybrid working arrangement.
SCOR employees work 3 days per week in an office with the flexibility to work 2 days per week remotely.
In compliance with local law, we are disclosing the compensation, or range thereof, for roles that will be performed in New York.
Actual salaries may vary based on various factors including but not limited to experience, exams passed, and attained designations or certifications.
The range listed is just one component of SCOR’s total compensation package for employees. Pay Range : $156,000 - $200,000 salary pay year.
Other rewards may include annual bonuses, short- and long-term incentives, and program-specific awards. In addition, we provide a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, a retirement saving plan, paid holidays, and paid time off.