Alternative Solutions is a department within SCOR P&C, tasked to deliver sophisticated solutions to structure, finance and transfer (re)insurance risks. The SCOR Alternative Solutions offering includes:
Alternative Solutions team members are located in Paris, Zurich, London, New York and Singapore and beneficiate from P&C division support, work closely with other P&C market & (re)insurance managers, and have direct contact with clients, brokers and other intermediaries to:
In this role, you develop and deliver SCOR’s Alternative offering primarily for North America, supporting internal underwriting teams, clients and brokers. You are accountable for underwriting quality and the profitability of the portfolio you are in charge of.
Manage, monitor and renew an existing portfolio of ART / structured (re)insurance transactions, including performance tracking versus plan, accumulation monitoring, exposure changes, and remediation actions (as needed)
Respond to submissions within agreed service levels; manage priorities and timelines to meet broker/client expectations and internal review and approval requirements
Maintain effective relationships with clients, brokers and internal stakeholders to ensure alignment on structure, risk appetite, documentation and execution readiness for ART transactions
Support post-bind deal maintenance for ART transactions, including documentation follow-up, booking instructions, controls/audit trail, reporting (e.g., bordereaux and portfolio monitoring), reserving and claims coordination in conjunction with the relevant departments
Contribute to the technical knowledge base for ART / structured (re)insurance (e.g., structuring approaches, pricing methodologies, wordings issues and lessons learned), including internal training and knowledge sharing
A minimum of a college degree in Actuarial Science, Engineering, Finance or equivalent discipline. Business degree in addition would be a plus.
Fluency in another language would be a plus.
Ideally, a minimum of 2 years work experience on “alternative risk transfer” in an international environment, additional (re)insurance experience a plus
Proven underwriting skills (marketing, negotiation, structuring, pricing, wordings),
Proven ability to define and implement a business plan
Proven ability to develop a commercial and tactical vision
Ability to successfully negotiate “face-to-face” with brokers and clients
Ability to use complex spreadsheets, word and power point
Sound technical knowledge of subjects associated to non-traditional underwriting as well as a wider understanding of related actuary, accounting, legal, regulatory and capital management topics
Knowledge of competitors, clients and brokers
Ability to manage projects in coordination with various stakeholders - Team player
International minded
Communication and interpersonal skills
Flexibility,
Proactive, Autonomy
Analytical, organizational and reporting skills
Pricing / cash flow modelling experience would be a plus
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 still 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.
Pay Range for roles performed in NY: $185,500-$251,500 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.
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.
Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by “The SCOR Way.” Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.
SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.
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.
