AVP, Actuary Risk Management

SCOR; Toronto; Hybrid; USD 180,000 - 238,000; Full time

Job summary

A global reinsurer is seeking an AVP, Actuary Risk Management in Toronto, Canada. The role involves supporting risk management frameworks, conducting quantitative analyses, and enhancing measurement models. Ideal candidates will have over ten years in the Property & Casualty industry and strong analytical skills. The position offers a competitive salary and a hybrid work policy.

Benefits

Medical, vision, and dental coverage

401(k) Plan with company match

Unlimited Sick Days

Competitively priced gym memberships

Work-life balance initiatives

Qualifications

• More than ten years of experience in the Property & Casualty (P&C) industry.
• Experience with actuarial and financial risk modeling.
• Strong analytical and statistical capabilities.

Responsibilities

• Support the implementation of the risk management framework.
• Lead quantitative and qualitative risk analyses.
• Manage and enhance risk measurement models.

Skills

Analytical skills

Statistical capabilities

Communication skills

Risk modeling

Legal compliance awareness

Education

BS or higher in Mathematics, Actuarial Science, or related field

Fellow of the Society of Actuaries or equivalent

Job description

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This range is provided by SCOR. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

• Note : This role can be based in New York City, Toronto, or Chicago

Introduction :

The AVP, Actuary Risk Management supports the Americas P&C Chief Risk Officer in the implementation and continuous improvement of the risk management framework for the US, Canada, and Latin America in all risk activities as defined by SCOR's Enterprise Risk Management (ERM) framework while meeting all regulatory and commercial expectations.

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.

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.

Role Overview :

The AVP Risk Manager is responsible for capital analysis, related capital projections, and affiliate retrocession analysis. You will lead and participate in quantitative and qualitative risk analyses including assessment of scenarios, emerging risks and business initiatives at local, P&C or Group level.

In this role you will work with the CRO and team to ensure that risk management activities are appropriately interlinked with relevant business and decision-making processes to further spread the risk culture across the organization and to foster the understanding and optimization of the risk return profile, ensuring the applicable legal and regulatory requirements are met in a timely manner.

The requirements of this position may evolve over time according to SCOR's circumstances.

Risk management Framework and Analysis :

• Manage and enhance risk measurement models inclusive of reporting in coordination with local, P&C and Group stakeholders.
• Compute and review capital requirements; manage associated models and develop new ones where necessary.
• Drive coordination with Group modeling teams to calculate and report legal entities' economic capital.
• Lead the performance and documentation of ORSA processes. Manage related risk analyses including capital adequacy testing, scenario / stress testing and qualitative assessments.
• Validate local entity internal model inputs and outputs for the group model.
• Coordinate analysis and pricing of affiliate retrocession agreements.
• Identify, assess and monitor emerging risks and trends.
• Lead or contribute to risk analyses to meet ad-hoc local or group-wide needs.
• Represent Americas entities in the development of extreme deterministic scenarios in coordination with Group Risk Management teams and transverse functions.

Reporting and Governance :

• Manage and enhance monitoring tools and establish key risk indicators in coordination with Group.
• Prepare and review materials for internal risk / solvency reporting to management and board.
• Contribute to external risk / solvency reporting and communication to auditors, regulators, and supervisory authorities.
• Document adherence to internal policies and regulatory requirements.

Alignment with Business Stakeholders :

• Drive coordination with business areas / risk owners in the development of key risk indicators to identify and evaluate business areas' risks.
• Ensure alignment of processes and reporting with Group requirements

Desired Experience and Competencies :

More than ten years of work experience with increasing levels of accountability in the Property & Casualty (P&C) industry, ideally within P&C commercial (re)insurance. Experience with actuarial and financial risk modeling, including both regulatory capital formulas (RBC / MCT / BAT) and internal economic modeling frameworks is advantageous. Exposure to integration of new tools and methods including AI into risk management practices is a plus.

Personal Competencies and Skills :

• Strong analytical and statistical capabilities with ability to critically assess assumptions and risks underlying business plans / transactions. Experience with model development is a plus.
• Knowledge of P&C (re)insurance business and ability to apply sound business and financial judgment to model output and business plans / transactions.
• Strong written and verbal communication skills; concise and accurate in communicating with stakeholders.
• Ability to apply skills / work in a variety of ad hoc situations, proactively proposing and balancing a range of solutions. Ability to take the lead in cross-functional projects.
• Ability to deliver results for review in a timely manner, being proactive in managing deadlines including management of dependencies on others, with strong sense of accountability and high quality of outputs presented for review.
• Build strong relationships within risk management and other functions, locally and across the Group and the P&C business unit.
• Strong understanding and awareness of legal and regulatory compliance requirements.

Required Education :

• BS or higher in Mathematics, Actuarial Science, Economics or related field.
• Fellow of the Society of Actuaires or other equivalent institution

Qualification in a globally recognized actuarial and / or equivalent risk management organization.

Relocation assistance within the U.S. is available for this position. Candidates must have valid authorization to work in the U.S. without the need for employer sponsorship now or in the future.

Pay Range for roles performed in Illinois : $180,000 - $220,000 base salary per year. Pay Range for roles performed in New York : $190,000 - $238,000 base salary per year. Actual salaries may vary based on various factors including but not limited to location, experience, role and performance. The range listed is just one component of SCOR's total compensation package for employees. Other rewards may include annual bonuses, short- and long-term incentives. In addition, we provide a variety of benefits to employees, including health insurance coverage, life and disability insurance, a retirement saving plan, paid holidays and paid time off.

Hybrid Work Policy :

SCOR is committed to an "in-office" culture where people can collaborate, exchange ideas, and establish stronger working relationships while 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.

Benefits We Offer

• Medical, vision, and dental coverage
• 401(k) Plan with a competitive match
• Company-funded Defined Contribution Retirement Program
• Life and AD&D insurance
• Long- and Short-Term Disability
• Unlimited Sick Days
• Summer Fridays
• Personal Wellness Tools and Rewards
• Competitively priced gym memberships from a large nationwide network of gym brands and local fitness studios
• And More!

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Analyst, Finance, and Strategy / Planning

Industries

Financial Services, Insurance Carriers, and Insurance

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