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Graduate Trainee Actuary

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SCOR

Mar 3, 2023

Applications are closed

  • Job
    Full-time
    Entry Level
  • Banking & Finance
  • London

Requirements

  • Some previous numerical experience is desirable
  • Necessary Skills: 
  • Ability to problem solve
  • Excellent communication (written and oral)
  • Professional and confident presence
  • Digital Competencies:
  • Computer literacy with special focus on Microsoft Word (Intermediate), PowerPoint (Intermediate) and Excel (Intermediate - familiarity of formulas such as “IF”, “VLOOKUP”, “INDEX”, “MATCH”, “SUMPRODUCT”, “MEDIAN”, “YEARFRAC”)

Responsibilities

  • The Trainee Actuary will be exposed to a wide range of tasks across the whole team including:
  • Quote Production:
  • Review and analyse data provided by cedant and highlight any issues that may delay quote production
  • Carry out mortality analysis on client data and suggest quote pricing basis
  • Ensure pricing basis conforms with SCOR Global Life annuity pricing guidelines and suggest appropriate adjustments where required
  • Produce accurate rates within specified timeframes and accurate documentation to support quotes
  • Assist in the development and maintenance of longevity pricing tools
  • Research:
  • Undertake analysis in order to contribute to the ongoing innovation of longevity pricing bases and tools
  • Develop and maintain a good understanding of the risks of longevity business
  • In Force Management:
  • Assisting the Administration teams in reconciling and troubleshooting the more complex aspects of the regular accounts.
  • Assisting in modelling the inforce blocks of business
  • Understanding, building and adaption of complex macro-driven premium and annuity claims calculation tools
  • Understanding and use of Excel tools that determine the current collateral exposures of SCOR and clients under the terms of the swaps
  • Inforce analyses of inforce deals for the purpose of setting future valuation assumptions, refining future pricing bases and spotting potential treaty breaches and irregularities.
  • Produce Management Information (MI) and Key Performance Indicators (KPIs) on the in-force business
  • Building and automating the in-force management processes
  • Standardise and modernise the in-force management processes and tools
  • Client management:
  • Support the Longevity Account Managers in resolving issues with clients in a constructive manner, valuing the importance of our long-term relationships
  • Build relationships across the inforce community of our market

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.