IFRS 17 Actuary
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. Using its experience and expertise, “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.
Key duties and responsibilities
- Drive the IFRS 17 project actuarial related matters for Life China.
- Liaise and stay connected with Life (global) division core IFRS17 team, and the APAC IFRS17 Life team (Singapore) on all workstreams, particularly on Methodology; FIA; Retrocession; Reporting; and Legal entity gap assessment
- Co-ordinate between various Life teams in China on IFRS17 matters (including but not limited to FP&A, Actuarial, Pricing, Business Development etc)
- Prepare summaries and presentation of status to CEO, SGL China, and the APAC IFRS17 Life team
- Build strong relationships and work closely with SCOR SE Beijing branch finance teams
IFRS17 regulation monitor, modelling; reporting; and implementation
- Preparation of IFRS17 data
- Work together with the Life China actuarial team on actuarial assumption setting for Life division IFRS17 purpose, including economic and expense assumptions
- Modelling of IFRS17 cashflows, including BEL; RA; CSM (in SCOR systems) – both for the Life division, and for the SCOR SE Beijing branch for local requirements (Life only)
- Provide technical support on all questions related to IFRS 17 reporting relating to Life business, for China – on methodology; FIA; and local legal entity gap assessment
- Validate IFRS 17 methodology logic and/or actuarial interpretation and methodology, with feedback to the APAC IFRS17 Life team
- Produce financial impact assessment for Life China business periodically – both for the Life division, and for the SCOR SE Beijing branch for local requirements (Life only)
- Translate IFRS 17 technical requirement into system and business requirements
- Stay connected with the IFRS17 communities within the broader industry
- Closely monitor and track status for China local IFRS17
Required experience & competencies
- Qualified degree in Actuarial
- Expert understanding of IFRS 17 and specifies in China
- Solid knowledge of Actuarial systems (Prophet preferred)
- 5 years of relevant experience in insurance industry
- Excellent verbal and written communication skills in Chinese Mandarin and English.
- Solid analytical skills with strong problem-solving ability.
- Must be able to work effectively independently and as part of a team.
- Flexible, “can do” attitude with interest in career and skill development.
- Disciplined and reliable