Head of Engineeringnew

The role is to lead the Reinsurance Specialty Lines Engineering underwriting function, consisting of 6 underwriters located across Zurich, Singapore and the United States, with responsibility for the global Engineering treaty portfolio, its underwriting performance, strategic development and execution of the Engineering business plan. Engineering is one of the 7 Reinsurance Specialty Lines that represent around 1/3rd of SCOR P&C Reinsurance business.

Underwriting responsibility: 100% Engineering capacity treaty delegation with worldwide scope.

Engineering is one of the 7 Reinsurance Specialty Lines of SCOR P&C and the Engineering team has  established a strong franchise in the market as a recognized expert in the (Re-)insurance community for decades. We are recruiting the Head of Engineering who will be responsible for the management, development and performance of the global Engineering treaty portfolio and for the execution of the Reinsurance Specialty Lines Engineering strategy in line with SCOR's strategic objectives.

The Jobholder manages a team of 6 Engineering underwriters located across Zurich, Singapore and the United States and is accountable for the underwriting performance, portfolio profitability, capital deployment and strategic development of the global Engineering treaty portfolio, including Engineering-focused MGAs. The role requires strong collaboration, communication and project management skills to work effectively with stakeholders ranging from direct reports to peers and senior management. 

The jobholder possesses deep expertise in the Engineering line of business, provides strategic direction and leadership to the Reinsurance Specialty Lines Engineering department, and operates effectively in a complex multicultural environment.

The jobholder is a member of the Reinsurance Specialty Lines Management team.

Leadership & Values

The jobholder is expected to act as a role model for SCOR's values, demonstrating Care, Integrity, Courage, Open Minds and Collaboration, while fostering an inclusive, high-performing and client-focused culture across the global Engineering community.

Key duties and responsibilities

• Develop and execute the Engineering underwriting strategy in alignment with SCOR P&C strategic objectives and approved business plans
• Manage a team of 6 underwriters, that includes ensuring compliance with SCOR process / procedures / guidelines for (i) risks analysis, (ii) exposures assessment, (iii) pricing and (iv) underwriting delegated authorities
• Lead the execution, monitoring and adjustment of the Engineering Reinsurance Business Plan to achieve sustainable profitability objectives
• Lead the active management of the Engineering portfolio in coordination with the CUO Office, optimizing capital deployment, portfolio composition, risk-adjusted returns and achievement of business plan objectives
• Recommend adjustments to portfolio positioning, underwriting appetite and capital allocation in response to market conditions, portfolio performance and emerging risk trends
• Ensure a robust governance framework for Engineering underwriting activities, including adherence to underwriting authorities, guidelines, portfolio management principles and regulatory requirements

• Support the Head of Specialty Lines on global projects

 

Principal activities

Underwriting:

• Accountable for achieving the Business Plan objectives and KPIs through disciplined underwriting, active portfolio steering and efficient utilization of the capacity allocated by SCOR P&C Management
• Responsible for arranging training / workshop to enhance underwriters’ know-how in Engineering and develop / promote UW best practices
• Responsible for the implementation of the steering actions defined with the CUO office to improve the Engineering Reinsurance portfolio performance, engaging with the Retrocession team and Pricing team to optimize the return on equity of the deployment of our net capacity
• Identify new streams of opportunities and related critical issues: ensure we deploy adequate resources for the expected value creation of such opportunities

 

Marketing:

• Define and regularly reassess SCOR's Engineering market strategy through analysis of market developments, client needs, product evolution and emerging opportunities over a 3 to 5 year horizon
• Act as a senior market representative for SCOR in the Engineering sector, developing relationships with key clients, brokers and market participants in coordination with the relevant Client Managers
• Liaise with Client Managers of any important changes in the Engineering market that would either create opportunities to develop business or create pressure on underwriting ratio
• Assist the Client Managers to revisit our current strategies and business plans taking into account Engineering market developments
• Enhance SCOR P&C’s visibility in the Engineering reinsurance market through Marketing activities including management visits, to consolidate, promote and develop the relationship with Clients (Cedants and Re brokers) and industry associations

 

Operational:

• Keep a good understanding of the Insurance Risk Transfer to local and international markets and by way of co-insurance, facultative, line slips, treaty, facilities, and ILS
• Monitor market trends, emerging risks and structural changes impacting the Engineering sector, translating market intelligence into underwriting and portfolio actions
• Conduct studies in conjunction with the CUO office for portfolio steering
• Contribute to the loss and/or exposure assessment of large events with the Claims department
• Contribute with the CUO office to the elaboration and then comply with Treaty P&C Underwriting Guidelines and Procedures, including implementation of recommendations following internal reviews and audits
• Lead the preparation and presentation of Engineering portfolio performance, business plan execution and forward-looking portfolio actions during feedback loop meetings with CUO (incl. P&M), Finance incl. Reserving, and claims team 

• Manage the Engineering underwriting authority framework, including delegation of underwriting authority to Engineering and some P&C underwriters, monitoring of authority usage, referral escalation and compliance with underwriting guidelines

Management:

• Lead the global Engineering community, driving consistency of underwriting standards, portfolio management practices and market strategy across all regions
• Lead, develop and mentor the Engineering Underwriting Team, setting clear objectives, strengthening technical expertise, fostering collaboration across locations and ensuring succession planning for key roles
• Create a high-performance culture through talent development, coaching, performance management and continuous enhancement of Engineering underwriting capabilities
• Collaborate with the teams of the Heads of Region and the Head of Global Client Unit for a proper execution of the Engineering plan
• Assume additional responsibilities in Global Projects, at the request of the Head of Specialty Lines
   

Required experience & competencies

• Minimum of 15 years of experience in Engineering (Re)-insurance underwriting
• Deep understanding of Engineering insurance and reinsurance products and market dynamics
• Proven ability to manage portfolio performance, capital deployment and business plan delivery within a global underwriting environment
• Strong communication, influencing and negotiation skills
• Demonstrated leadership and people management capabilities in an international environment
• Demonstrated ability to define and execute strategy, influence senior stakeholders and align diverse teams around common objectives in a complex international environment
• Ability to navigate and succeed in an international organization and build strong relationships with internal stakeholders, clients and brokers

Required Education 

• University Degree or similar education 
• Insurance/ Reinsurance qualifications desirable

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.