Corporate Actuary - Corporate Actuarial Canada
Montréal, QC

Montreal Canada (CA)


Corporate Actuary - Corporate Actuarial Canada



About SCOR

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.

Job Summary

This position is part of the Canadian Corporate Actuarial Team, which is responsible for actuarial activities associated with SCOR’s Canada Life & Health reinsurance business, including the following:

Review/maintenance of actuarial models
Support IFRS 17 Implementation for Group and local reporting
Quarterly production runs for Best Estimate Liabilities/Projections, IFRS and Canada regulatory reserves, and DAC
Quarterly valuation processes for IFRS and Canadian regulatory reporting
Economic reporting production (Development of best estimate assumptions, Analysis of Change and Sensitivities)
Assessment, implementation and monitoring of stress testing program
Assessment of own capital requirements and regulatory internal capital targets
Work with Appointed Actuary - development of Appointed Actuary Report, Dynamic Capital Adequacy Testing and Required Capital Calculations

Collaborate with the following departments:
Finance in producing internal and regulatory reports
Risk Management - ORSA and quarterly risk dashboards
Operations – quarterly closing processes, data management & analysis for valuation and for mortality study, administer retrocession
FP&A team - quarterly analysis of actual versus expected business performance and Operating Plan production
Support internal/external audits

  • Key duties and responsiblities
Participate in IFRS 17 program:
Perform gap assessment between Group general design and local requirements
Design and implement model changes needed to accommodate IFRS 17 reporting
Support OSFI quantitative information surveys related to changes to Canadian capital guideline in relation with IFRS 17
Testing and reconciling results
Design and implement controls for new and updated processes
Review and/or perform quarterly valuation processes for Group IFRS and Canadian regulatory reporting, including regulatory capital filings
Review and/or perform economic reporting processes, including review of best estimate assumptions, analysis of changes and sensitivities, production and review of Operating Plan
Perform and review experience studies and profitability analysis
Support assessment of regulatory and own capital requirements
Ensure that appropriate and auditable controls, reconciliations and documentation are maintained with respect to work performed or supervised.
Utilize technology to perform job functions more efficiently and to further automate the reserving and financial projection processes. Share technology solutions with other associates and work with the IT area to move ad hoc improvements into a controlled production environment.
Complete special assignments and projects for the department as necessary
May perform other duties as required

  • Required experience and Education
Bachelor’s Degree in Actuarial Science with demonstrated record of academic excellence
FSA or ASA in pursuit of FSA
Must have at least 7 years of experience with actuarial valuation.
Knowledge of AXIS valuation software
Proficiency in windows-based software (Excel, Access, etc.)
Strong analytical skills with strong problem-solving ability.
Excellent verbal & written communication skills.
Demonstrated ability to understand broader picture and impact of decisions.
Building and maintaining relationships with colleagues throughout the SCOR Group.
Demonstrated ability to understand complex models and perform valuation, modeling, and analysis to deliver required results.
Demonstrated ability to identify and implement departmental processes and controls and ensure appropriately documented.
Technically astute within the actuarial discipline and industry software applications.