Capital & Internal Retrocession Intern
il y a 4 semaines
The Internal retrocession refers to the practice of transferring or redistributing a portion of an insurer's or reinsurer's risk within the same organization or group. This is done to optimize capital allocation, spread the risk exposure, and potentially reduce the need for external reinsurance.
Capital Management aims at optimising the capital efficiency within the group and their position within the various group’s entities. It is a key process for the management, which is further reinforced with Solvency II regulation. The department is in charge of external and internal financing.
In addition, the department is a key stakeholder for the Group and is involved in many strategic projects such as Strategic planning.
As an intern within the Capital Projection team, you will be involved on all the topics relative to the Capital management with a primary focus on internal retrocession, which plays a crucial role in optimizing the company's capital. You will be responsible for assisting with the development and maintenance of financial models used to project the company's capital. This will involve collecting and analysing data, building financial models, and presenting your findings to senior members of the team. You will also have the opportunity to contribute to ongoing projects and provide support for ad-hoc requests as needed. This internship offers a unique opportunity to gain valuable experience in the field of capital management and retrocession within a reputable reinsurance company. You will work closely with a dedicated team of professionals and contribute to meaningful projects that directly impact the company's bottom line.
Within the Capital Management & Liquidity team, you will be involved in developing and maintaining the capital management processes, internal & external financing scheme and you will be in charge in particular of:
Preparing presentations for the Top Management and Board Members regarding Capital Management, and Liquidity at SCOR Group’s level or local entities level. This involves gathering inputs from experts in various fields, analysing them critically and building an overview of the topic considered in clear and concise presentations.
Monitoring of Local’s entities Solvency, potential capital needs and dividend capacity
Reviewing and analysing with the locals CFO, the internal retrocession contracts to determine the appropriate retrocession structure.
Creating and maintaining documentation related to retrocession agreements.
Monitoring the performance of retrocession agreements and identifying any issues or potential risks.
Communicating with internal stakeholders, such as underwriters and actuaries, to ensure that retrocession agreements are properly structured and understood.
Assisting with the implementation of new retrocession agreements or changes to existing agreements
Participating in meetings and discussions related to retrocession activities.
Projects: be involved in projects and other tasks as needed. You’ll work with various members of the Capital & Liquidity team on a diverse range of topics depending on current and new projects, the changes in the organisation or the economic environment, and the priorities of top management.
- Business School or Engineering ‘Grande Ecole’, University with a focus in Finance
- Strong financial background, Insurance knowledge appreciated
- Strong IT skills: Strong Excel and PowerPoint skills required
- Strong written and verbal communication skills in English are required
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. Leveraging experience and expertise to deliver “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk - from Life & Health and Property & Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.
In order to provide our clients with a broad range of innovative reinsurance solutions, SCOR pursues an underwriting policy that is founded on profitability and supported by effective risk management strategy and a prudent investment policy. This approach allows us to offer clients an optimum level of security, to create value for shareholders, and to contribute to the welfare and resilience of society by helping to protect insureds against the risks they face.
At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.
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