ALM Senior Manager

Job title:

ALM Senior Manager

Company:

SCOR

Job description

Job Description:Reporting to the Head of ALM and working closely with other Finance functions (Reserving in particular), Business lines and Risk Department, the ALM Manager participates in:

• Identifying and quantifying the financial risks (interest rates, FX, inflation) embedded within the different financial aggregates of SCOR Group and its branches and subsidiaries, in particular Economic Value (IFRS17), SCR and SII ratio, local capital and solvency ratio;
• Proposing and continuously improving an ALM framework (indicators, risk appetite/limits, governance, tool, reporting/dashboard) to be validated by the Risk Department, the COMEX and the Board;
• Proposing hedging strategies with cash instrument with SCOR IP and derivatives with the market;
• Implementing/executing the hedges validated;
• Participating actively to the implementation of the ALM Tools in Foundry.

Responsibilities:Key duties and responsibilities

• Risk identification:

Ensure that the financial risks embedded in the key financial indicators of the Group are properly identified.

• Risk quantification

Ensure that the risks identified are properly quantified, in particular by designing granular and combined indicators to represent the risks, e.g. interest rates sensitivities by maturity bucket / currency, FX impact by currency, …

• Tools

Develop and maintain a dedicated ALM tool fed from the different golden sources of the Group and computing the required information.

• Hedging strategies

Propose hedging strategies at both local and Group level in compliance with risk appetite;Implement, mainly with SCOR IP (cash instrument) and the markets (derivatives), the validated hedging strategies.To be noted that the framework (booking, accounting, market access, ….) for derivatives will have to be implemented.

• Objectives and Risk appetite/limits and thresholds

Propose and update at least on a yearly basis prioritized objectives with associated limit framework around the different indicators, to be validated by the Risk Department, the COMEX and the Board depending on the level of the risks; a particular attention is needed on the articulation of the different objectives as some financial aggregates have opposite risks exposures.

• Reporting

Implement and produce on a regular basis reportings/dashboard to the different instances of the Group (COMEX, Board, ….) at both local and Group level

• Governance

Implement and animate (agenda, secretary, minutes, …) a dedicated governance on ALM topics, preferably integrated in existing instances (Group Treasury Committees)Qualifications:Required experience & competencies

• A strong experience in the technical management of reinsurance businesses (reserving, underwrting, regulatory framework);
• Appetite in data management, mainly Python (PySpark, Pandas, SciPy);
• An additional experience in financial markets (FX, cash instruments and derivatives) and ALM topics (including trades execution) would be a plus;
• Capacity to handle complex/quantitative topics with multiple stakeholders
• Ability to deal with senior management (Comex, Boards, leaders of other functions)
• Ability to develop a strong network internally and externally
• Strong communication skills

Required Education

• Master’s degree in Finance/Business or MBA or from a Top-Tier Grande Ecole or Actuary
• English and French (written and spoken)

About Us: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.

Expected salary

Location

Paris

Job date

Wed, 18 Dec 2024 05:04:42 GMT

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