This position is part of the US Life & Health Finance Team, which is responsible for financial activities and reporting associated with SCOR Bermuda Life Company (SBL), including the following:
Oversee annual filing and correspondance to Bermuda Monetary Authority (BMA) on financial matters
Create and maintain process documentation, including the identification of risks and proper mitigating controls.
Monitor systems and processes to ensure internal controls are implemented and effective
Effectively implement and utilize tools to help improve the efficiency of the work
Work with internal and external auditors
This position offers an exciting opportunity to be part of an expert team working in a fast paced and dynamic environment. The role offers the opportunity to work with a wide range of stakeholders across finance and actuarial teams in the US but also with global teams across the SCOR Group.
This role will be responsible for the design and implementation of the control environment:
Create and maintain process documentation, including the identification of risks and controls
Ensure key controls are implemented and operating effectively
Capture control evidence and share with management, internal auditors and external auditors as needed
Develop a process to maintain and update documentation on a regular basis
This role is responsible to deliver the following for SBL’s IFRS results within the SCOR Group which accepts US business:
Financial Reporting: Serve as the first-level review of quarterly and annual financial statements (balance sheets, income statements, footnote disclosures, etc.) prepared by the Senior Associate, Financial Accounting & Reporting.
General Ledger Management: Oversee input to the general ledger, including balances and activity owned by other teams (e.g. Tax, Actuarial, Investments)
Regulatory Compliance: Ensure compliance with Bermuda regulatory reporting requirements.
Audits: Organize and participate in external and internal audits to ensure accuracy and compliance.
The role will have a clear focus on transformation and simplification:
Review and enhance the process to produce SBL results, focusing on building an efficient process throughout the chain which allows delivery of high-quality analytics and insights. Working closely with the wider finance and actuarial teams to deliver on this.
Identify opportunities for simplification and propose solutions.
Bachelor’s degree in Accounting, Finance, or relevant work experience
Professional accounting qualification (e.g., ACCA, CA, CPA, ACA).
6+ years’ experience with internal controls and financial reporting, preferably within the reinsurance industry.
Experience in regulatory reporting with the BMA preferable
Experience of IFRS17 and Solvency II reporting a definite advantage.
Excellent interpersonal and communication skills, including verbal, written and relationship building with ability to present insights to senior leadership
Demonstrated ability to understand broader picture and impact of decisions.
Demonstrated ability to understand complex models and analysis to deliver required results.
Well-organized and a self-directed individual who is a team player
Thorough knowledge of Bermuda regulatory reporting and statutory requirements.
Ability to build & maintain relationships with colleagues throughout the SCOR Group, within the US and globally.
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.
