The role holder’s primary responsibility will be to provide expert technical legal support to the P&C Business Unit’s EMEA teams covering P&C Treaty, Alternative Solutions (working with the dedicated Alternative Solutions (EMEA based) counsel) and Single Risk Underwriting Teams, with a focus on delivering comprehensive, reasoned and commercially viable contracting support, including wordings support.
The role holder will be required to handle phase 2 sanctions clearance (low volume/high expertise) referrals in respect of complex sanctions and compliance issues ensuring compliance with SCOR’s commitment to rigorously observe all applicable sanctions and compliance related obligations.
The role holder will be expected to provide effective legal support for the development, build out and subsequent maintenance of the P&C element of SCOR’s proposed wordings tools.
The role holder will be expected to comprehensively understand and timely respond to (as is appropriate) the commercial and business-related constraints and pressures on the SCOR P&C business unit and its growth targets whilst effectively mitigating the associated risks to SCOR.
Under the direction of the Chief Legal Counsel (P&C Business Unit) and other P&C Legal Team members, the role holder will be responsible for:
Negotiation
Participate in negotiations of complex legal issues with external business partners and providing practical and pragmatic advice and support to the P&C business community on the negotiation of commercial terms.
Product Development
Training
Developing and leading training to the underwriter community.
Lex II & Contract Wording
Providing the required legal support and expertise to support the development and roll-out of the P&C sections of SCOR’s contract wording tool, in coordination with P&C leadership and the P&C Legal community.
Monitoring, identifying, understanding, analyzing, and proactively developing P&C’s contract wording responses to emerging (re)insurance issues and trends, requiring an awareness and understanding of global developments and trends.
Regulatory & Best Practice
Responsible for overcoming legal and regulatory challenges by Developing viable solutions to legal and regulatory “road blocks” to facilitate the P&C business unit’s delivery on its business plans and targets.
Handling phase 2 sanctions clearance referrals for complex sanctions and compliance issues. Responsible for ensuring compliance with applicable sanctions and regulations.
Reinsurance and Legal knowledge Extensive recent (re)insurance contract wording and legal support experience and superior technical skills are required.
Communication skills Excellent written and oral communication skills, the ability to determine how and when to develop/sustain a message and/or an idea and the ability to deploy the right tools to present information.
Business acumen and accountability A deep understanding of P&C business drivers and the ability to identify and raise critical issues/points when needed; a willingness to “own” and to swiftly correct (if needed) decisions; and, accepting and actioning responsibility regarding cost management.
Advanced Problem-Solving Exhibiting advanced problem-solving capabilities by handling highly complex and critical legal issues with significant impact on the P&C Business Unit – involving providing and implementing innovative and effective solutions – after appropriate approvals – to mitigate risks, support business growth, and ensure compliance with legal and regulatory requirements.
Work autonomy An ability to operate autonomously, with guidance from the Chief Legal Counsel and team peers. A proven self-starter who takes the initiative and can act independently make their own decisions, while keeping relevant stakeholders advised and involved and operating within internal governance requirements and guidelines.
Commercial acumen and risk mitigation The role holder will be commercial and pragmatic and will understand the impact of market conditions on treaty and direct (specialty) insurance activities, procedures and wordings, while being able to clearly and succinctly articulate issues to the underwriting community (and management), to evaluate the risks associated with the (re)insurance activities and to develop commercial risk mitigation options, while ensuring all operations are compliant with applicable regulatory requirements.
Stakeholder Management Demonstrating the ability to build and maintain strong relationships with senior stakeholders and external partners. This includes effectively communicating complex legal concepts, understanding stakeholder needs, and providing tailored legal solutions that support the P&C business unit’s objectives.
Enthusiasm The role holder will be enthusiastic about: supporting the activities of the P&C Business Unit globally and across all business activities; working directly with the business and driving legal issues to completion; and providing general support across all areas of the Legal and Compliance functions for P&C as time and experience permits.
Collaboration and living the SCOR values Both the P&C business and Legal teams are small, such that collegiality, efficiency, pro activity and curiosity as well as living the SCOR values are key to the role holder’s success.
Several years of proven experience
Required Education
Strong academic record. A law degree / undergraduate degree with a law conversion qualification / equivalent.
Licensed to practice law in an EMEA jurisdiction and in good standing / the ability to immediately reactivate membership.
Note non-lawyers will be considered too, provided they demonstrate strong expertise delivering comprehensive, reasoned and commercially viable contract wording support.
Please note that the final role title and level will be aligned with the qualifications and experience of the preferred candidate.
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.
