Head of Credit - Surety, Political Risks

The role is to lead the Reinsurance Specialty Lines CSPR underwriting function, comprising a globally distributed team of approximately 17 professionals across North America, Latin America, Europe and Asia-Pacific. The jobholder is responsible for the global CSPR treaty portfolio, its underwriting performance, strategic development and execution of the CSPR business plan.

CSPR is one of the largest and most strategically important Reinsurance Specialty Lines, encompassing Trade Credit, Surety, Structured Credit, Mortgage and Political Risks. The portfolio represents approximately EUR 700 million of premium and is subject to enhanced oversight due to its size, complexity, accumulation profile and sensitivity to macroeconomic and financial market developments.

The role is ideally based in Zurich, currently the home office of three CSPR underwriters, although the Head of Department may be located in another city where SCOR has a significant presence.

The Head of CSPR is responsible for the strategic direction, underwriting performance, profitability, capital deployment and accumulation management of the global CSPR treaty portfolio. The role leads a globally distributed organisation across North America, Latin America, Europe and Asia-Pacific and works closely with senior management, Risk Management, Finance, Pricing, Retrocession and the CUO Office to ensure disciplined portfolio management and sustainable value creation.

Due to the portfolio's size, accumulation profile and exposure to economic, credit and financial market developments, the role requires regular engagement with senior management and close coordination with Risk Management, Finance, Pricing and Retrocession functions.

The jobholder possesses deep expertise in the CSPR line of business, provides strategic direction and leadership to the Reinsurance Specialty Lines CSPR 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 CSPR community.

Required experience & competencies

• Minimum of 15 years of experience in CSPR (Re)-insurance underwriting 

• Deep expertise across Trade Credit, Surety, Structured Credit, Mortgage and Political Risks reinsurance products, including their interaction with economic, financial and geopolitical developments

• Demonstrated experience managing large and complex global portfolios with significant accumulation and capital management considerations

• 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

• Demonstrated ability to operate effectively in a highly visible environment with regular interaction with senior management on portfolio performance, risk exposures and strategic direction
   

Required Education 

• University Degree or similar education 

• Insurance/ Reinsurance qualifications desirable

Key duties and responsibilities

• Develop and execute the CSPR underwriting strategy in alignment with SCOR P&C strategic objectives and approved business plans
• Manage a global organization comprising approximately 17 professionals, including regional team leaders, senior underwriters, underwriters and a business analyst, ensuring consistent underwriting standards, portfolio management discipline and talent development across all regions
• Ensure compliance with SCOR processes, procedures and underwriting guidelines relating to risk analysis, exposure assessment, pricing and delegated underwriting authorities
• Lead the execution, monitoring and adjustment of the CSPR Reinsurance Business Plan to achieve sustainable profitability objectives
• Lead the active management of the CSPR 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 CSPR underwriting activities, including adherence to underwriting authorities, guidelines, portfolio management principles and regulatory requirements
• Lead the assessment, monitoring and management of accumulation exposures across the CSPR portfolio, ensuring alignment with SCOR's risk appetite and capital management objectives.
• Provide strategic recommendations to senior management regarding portfolio composition, emerging risks, accumulation management and capital deployment across the CSPR portfolio
• 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
• Oversee the underwriting of Trade Credit, Surety, Structured Credit, Mortgage and Political Risks business, ensuring consistency of underwriting standards and portfolio management across all regions
• Responsible for arranging training / workshop to enhance underwriters’ know-how in CSPR and develop / promote UW best practices
• Responsible for the implementation of the steering actions defined with the CUO office to improve the CSPR 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 CSPR 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 CSPR 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 CSPR 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 CSPR market developments
• Enhance SCOR P&C’s visibility in the CSPR 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 macroeconomic, geopolitical, credit and financial market developments and assess their potential impact on portfolio performance, accumulation exposures, capital requirements and capital deployment
• Work closely with Risk Management, Pricing and CUO teams to assess stress scenarios, portfolio resilience and emerging accumulation risks
• 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 CSPR 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 CSPR underwriting authority framework, including delegation of underwriting authority to CSPR underwriters, monitoring of authority usage, referral escalation and compliance with underwriting guidelines

Management:

• Lead a global organization comprising regional teams in North America, Latin America, Europe and Asia-Pacific, ensuring consistent execution of underwriting strategy, portfolio management and talent development
• Directly manage regional team leaders and senior underwriters, driving alignment, accountability and knowledge sharing across the global CSPR organization while ensuring consistent execution of underwriting strategy, portfolio management practices and talent development objectives.
• Lead, develop and mentor the CSPR 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 CSPR underwriting capabilities
• Collaborate with the teams of the Heads of Region and the Head of Global Client Unit for a proper execution of the CSPR plan
• Assume additional responsibilities in Global Projects, at the request of the Head of Specialty Lines