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Under Solvency 2 (S2), the SCOR Group and its EEA subsidiaries will be required to report on a quarterly and/or annual basis Quantitative Reporting Templates (QRT), Solvency and Financial Condition Reports (SFCR) and Regular Supervisory Reports (RSR). Additionally, it is expected that other reporting requirements will partially leverage Solvency 2 reporting but also require additional quantitative and perhaps qualitative submissions (e.g. Financial Stability (FS), European Central Bank (ECB) and National Specific (NS) requirements).
You will be supporting the S2 Quantitative Reporting Manager by focusing initially on the implementation of Group processes for the production of Solvency 2 quantitative reporting requirements assigned to Pillar 3, namely QRTs and Economic Balance Sheet (EBS).
You will ensure that Group processes and tools allow for the production of QRTs and EBS for the EEA solo entities and the SCOR consolidated group in a manner which is fully integrated and reconcilable with Group consolidated figures and Group processes. As part of this quantitative production process, you will be responsible for ensuring that the related SCOR Solvency 2 policies are properly documented.
The priority will be the preparation of the SCOR Group for the quantitative reporting challenges included in its Pillar 3 project and transition to business as usual, including the further development of the tools and implementation of related processes.
The role does include the production and contribution of quantitative as well as qualitative reporting aspects of the SFCR and the RSR .
Solvency 2 Pillar 3, Quantitative Solvency 2 Reporting, is a department within the Group Finance function. It will coordinate S2 and reporting aspects intra finance and between finance and other SCOR functions involved in the S2 project.
You will work as part of the Pillar 3 quantitative reporting team and be reporting to the Solvency 2 Quantitative Reporting Manager.
The team coordinates the contributions from the CRO & CFO functions, the divisions (SGI, Life and P&C) as well as representatives from SCOR’s solo EEA entities in order to cover all quantitative and qualitative reporting requirements of S2, except ORSA
You will integrate into a team which will be responsible for the timely production of the SCOR Group’s quantitative reporting under Solvency 2 (QRTs and EBS) whilst ensuring that solo EEA entities can access the information necessary for the production of the necessary quantitative reporting requirements at their level.
Your responsibilities will also include the development of S2 standard setting and establishment of S2 consolidated reporting processes. You will have an in-depth understanding of the quantitative and qualitative reporting requirements and a general understanding of the S2 reporting landscape.
Your initial priority will be the support of the production of the EBS and QRT’s for SCOR Group and the solo entities. As part of this exercise you will document detailed processes on data sources, quality and improvements needed. This will enable you to contribute to the further development of the IT architecture for Solvency 2, which is managed by the IT function. You will ensure that policies and principles relating to the preparation of the quantitative Solvency data are properly documented.
o Support production of EBS, Own Funds, Participation valuation and economic P&L and related QRT’s following regulatory requirements for SCOR Group and the solo entities as per agreed deadlines.
o As needed, enhance production granularity to support new business requirements (e.g. new modelled entities), new regulatory requirements (e.g. ECB may require EBS by branch), and other analytical requirements
o Prepare CFO analysis package for Group and EEA solo entity
o Prepare group processes and ensure delivery of Group quantitative and qualitative S2 reporting in line with future S2 implementation deadlines
o Ensure Group and solo quantitative reporting process includes reconciliation of data to other key financial data (ie IFRS)
o Use and develop systems used for the S2 production
o Have a complete understanding of the S2 reporting landscape; high level understanding of all S2 text in order to produce and maintain an S2 Accounting Principles and Standards Guide for SCOR
o Document detailed processes and improvements required on data sources used for EBS/QRT production and actively contribute to the further development of the IT architecture as applicable for S2 with a view to further improve industrialisation of the future reporting process.
o In your role as Solvency 2 Controller you work closely with other departments of the Finance and Risk community in particular with other teams of Solvency 2, capital and risk management. Relating to Solvency 2 regulations you are perceived as a global resource and a key contributor to SCOR and the finance staff at the different locations.
The responsibilities of this position can evolve according to the Group’s requirements.
At least 5 years practical consolidation and/or experience in reporting department of a company in the (re)insurance industry or Big 4 audit firm (specialised on insurance).
General knowledge of overall reinsurance financial statements and knowledge of international accounting standards (IFRS) and Solvency II regulation.
o Ability to determine data’s quality, value, and relevance in different context
o Ability to turn information into business insights, analyse trends and how to compare or combine relevant sets
o Ability to use reporting tools
o In depth knowledge of reporting tools and processes (e.g. SAP, BFC)
o Desirable work experience within Solvency 2 environment
o A good level of written and spoken English
o Excellent interpersonal and communication skills
o Flexible and reactive in order to respond to a constantly evolving environment
• BAC+5 in finance
• At least three years in reporting department of publicly traded company or Big 4 audit firm.
French: Can lead discussions and negotiations, write sophisticated and complex reports, rarely makes grammatical errors
English: Can actively participate in meetings and group conversations. Can lead negotiations. Writes complex business letters and reports
The information collected during the recruitment process will be retain for a period of up to 3 years. In accordance with the French law on personal data protection (law no. 78-17 of 6 January 1978, amended on 2004) and the European Directive 95/46/CE on personal data protection of 25 October 1995, you have a permanent right of access and correction on all the data related to you. You also may, for legitimate reasons, oppose the processing of your personal data.
Human Resources Department
To the attention of Lenda VIVENT
5 avenue du Kléber
75795 Paris Cedex 16