Job DescriptionThe 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.
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.
- Effective written and oral communicator, including formal and informal presentations.
- Demonstrated skill in identifying and solving business needs.
- Takes initiative and exhibits a sense of urgency with a focus on results for external and internal clients.
- Effective multi-tasker with demonstrated comfort and ability to effectively manage and deliver on competing priorities.
- Must be able to work effectively independently and as part of a team with readiness to travel on occasion.
- Skilled at collaborating with others across offices and geographical locations.
- Basic knowledge and awareness of the Agile/SCRUM methodology.
- Strong proficiency using Microsoft Office Products and demonstrated ability to learn new software/tools.
- Regular attendance and ability to work extended hours as necessary to meet deadlines.
You may not meet every requirement listed in the job description. If you bring broad expertise and alignment to the role and resonate with our core values, we encourage you to apply.
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.
Hybrid Work Policy: SCOR is committed to an "in-office" culture where people can collaborate, exchange ideas, and establish stronger working relationships while ll 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.
At SCOR, we CARE about clients, people, and societies, and we are committed to placing them at the center of everything we do. Providing great benefit choices to you and your family is just one of the ways we support the physical, financial, and emotional well-being of the people who make our company successful - you.
Benefits We Offer
• Medical, vision, and dental coverage
• 401(k) Plan with a competitive match
• Company-funded Contribution Retirement Program
• Life and AD&D insurance
• Long- and Short-Term Disability
• Flexible Parental Leave
• Unlimited Sick Days
• Volunteer Time
• Summer Fridays
• Learning & Development Resources
• Personal Wellness Tools and Rewards
• Competitively priced gym memberships from a large nationwide network of gym brands and local fitness studios
• And More!
Pay Range for roles performed in NC/KC: $139,000 -$170,000 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.
