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Reserving Actuarial Intern

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SCOR

18d ago

  • Internship
    Full-time
    Summer Internship
  • Data
    Banking & Finance
  • London

AI generated summary

  • You must have strong communication skills, integrity, analytical thinking, flexibility, self-motivation, teamwork ability, and proficiency in Excel, SQL, or programming languages.
  • You will analyze technical reserves, assist with reserving projects, improve models and dashboards, conduct portfolio reviews, collaborate with teams, and communicate findings to stakeholders.

Requirements

  • Communication : Excellent interpersonal verbal and written skills that enable the candidate to communicate effectively with colleagues (especially underwriters), brokers and clients.
  • Integrity : the ability to make a principled stand where required.
  • Independent : a thinker with an analytical mindset.
  • Flexibility : the ability to manage workload and prioritise different tasks.
  • Personality : a self motivator who is keen to learn and take on increasing responsibility over time.
  • Team work : Ability to work collaboratively with others in the Actuarial Team.
  • Excel, SQL, Tableau, PowerBI Python or other programming language skills an advantage.
  • Strong educational track record, or equivalence

Responsibilities

  • Assist in the analysis of the technical reserves on a quarterly basis for multiple lines of business
  • Assist with reserving projects, such as automation of current processes and modelling of specific lines of business
  • Assist with improvement of certain models, visualisation tools and dashboards
  • Annual review of the UK portfolio and contribute to the actuarial report for the various UK legal entities
  • Carry out regular or ad hoc studies for specific segments
  • Work closely with claims team, finance team, underwriters and underwriting management and other members of the actuarial team to develop, review and maintain appropriate tools and methodologies
  • Communicate with external Actuaries, Auditors and external regulators when required
  • Help enhance management information and reporting for Lloyd’s, PRA and ACPR
  • Communicate key movement/trends/events to the business on a quarterly basis, with opportunity to present at Management meetings and Reserving Committees

FAQs

What are the primary responsibilities of the Reserving Actuarial Intern?

The primary responsibilities include assisting in the analysis of technical reserves, working on reserving projects, improving models and visualization tools, contributing to the actuarial report for UK legal entities, conducting studies for specific segments, collaborating with various teams, enhancing management information, and communicating trends to the business.

What skills are required for this role?

Required skills include excellent communication, integrity, independent analytical thinking, flexibility in managing workloads, a self-motivating personality, and the ability to work collaboratively in a team.

Are there any desirable technical skills for this position?

Yes, desirable technical skills include proficiency in Excel, SQL, Tableau, PowerBI, Python, or other programming languages.

What educational background is required for the intern position?

A strong educational track record or equivalent is required for this role.

Will there be opportunities for presentation and communication in this role?

Yes, there will be opportunities to communicate key trends and movements to the business, with the prospect of presenting at management meetings and reserving committees.

Is this position designed for recent graduates or students?

Yes, this position is intended for ambitious interns, making it suitable for recent graduates or students pursuing actuarial studies.

How does SCOR promote collaboration and teamwork?

SCOR encourages collaboration through its core values, fostering an environment where employees work together to find solutions and contribute to the organization’s success.

What kind of training or mentorship can I expect as an intern in this role?

As an intern at SCOR, you can expect to work closely with experienced actuaries and team members who will provide guidance, support, and opportunities for learning and development.

How does the Reserving Actuarial Team collaborate with other departments?

The Reserving Actuarial Team works closely with claims, finance, underwriters, and other members of the actuarial team to develop, review, and maintain appropriate tools and methodologies.

What is the significance of "The SCOR Way" in the company culture?

"The SCOR Way" serves as a guiding framework that reflects the organization’s core values, fostering a culture of client care, integrity, courage, open-mindedness, and collaboration among employees.

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SCOR

Combining the Art and Science of Risk to protect societies

Finance
Industry
1001-5000
Employees
1970
Founded Year

Mission & Purpose

SCOR, one of the world's largest reinsurers, provides its clients with a diversified and innovative range of solutions 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 as well as in P&C. The reinsurance industry is about combining technical expertise and experience with the developments of science. However many tools we use to conduct our activities (models, databases, pricing tools, reserving tools, and so on), we also need expert judgments and human experience to correctly underwrite. This is what we call the art of underwriting. Reinsurance is a knowledge industry. Expertise is an accumulation variable. The most advanced tool will never replace the intuition of a seasoned underwriter facing a complex risk. Because at the end of the day, you have to make a decision, to sign, to underwrite. And what we have underwritten, we cannot overwrite - our word is our bond, as is our signature. This dimension of our business, linked to the art of underwriting, is more important than some observers would have people believe. One way to acquire this art is to share experiences – both good and bad – and to share doubts and questions. Artists always belong to a school, from which they learn their craft. Like artists, we have to learn, imitate, mimic, and then innovate, in order to find our own style and create our own distinctive work.

Culture & Values

  • Innovation

    Technological innovation is a driver of change. SCOR’s continuing investment in understanding and modeling risk helps to push back the frontiers of insurability, from the customer experience to product development.

  • Excellence

    Excellence is SCOR’s language, spoken in our offices and with clients across the world. It inspires trust and fosters a culture that embraces problem-solving and innovative thinking.

  • Teamwork

    Teamwork, collaboration and knowledge-sharing are at the foundation of SCOR’s recognized client service, enabling us to deliver tailored risk solutions in more than 160 countries.

  • Diversity

    The Group pays close attention to creating and maintaining the conditions necessary for a collaborative working environment among diverse nationalities, age groups and cultures. SCOR’s employees represent 65 nationalities and are as diverse as they are talented.

  • Sustainability

    Protecting the environment and contributing to the resilience of society are integral parts of SCOR’s identity and culture. In an increasingly risk-filled and uncertain world, the reinsurance industry has a leading role to play in underpinning sustainable and responsible development.

  • Integrity

    SCOR acts with honesty, integrity and transparency in all matters to ensure that we are accountable for our actions. We strive to meet the highest standards in all that we do, building trust among our clients, employees, shareholders, and regulators.