United Kingdom Job Openings
AXA
Head of Insurance Risk (Pricing and Underwriting)
London
September 23, 2024
As Head of Insurance Risk, you’ll support the Chief Actuary in coordinating a second line of defence on Insurance risk management activities, covering technical risks such as pricing and underwriting. You’ll lead the Insurance Risk team in developing the standards to identify, assess, monitor and manage risks across AXA UK business units.
This is a certificated role that supports the AXA UK, AXA Health and AXA Insurance UK CROs and AXA UK Chief Actuary in discharging responsibilities regarding Insurance risk. You’ll play a key leadership role, participating in the organisation of the Actuarial department and wider Risk and Compliance team.
At AXA we work smart, empowering our people to balance their time between home and the office in a way that works best for them, their team and our customers. You'll work at least 40% of your week away from home, with this time spent at our London office.
What you’ll be doing:
What you'll bring:
What We Offer:
At AXA UK, we’re appreciative of the people who work for us and our rewards package is reviewed regularly to reflect that. You can expect to receive:
#LI-Hybrid
Who we are:
AXA UK Support Functions power AXA’s three customer-facing business units, providing the infrastructure, support and expertise to ensure our customers can always count on us. Whether you’ve got heaps of experience and qualifications behind you, or you’re just starting out, we’ll give you the support and opportunities to help you grow and develop with confidence.
This is a certificated role that supports the AXA UK, AXA Health and AXA Insurance UK CROs and AXA UK Chief Actuary in discharging responsibilities regarding Insurance risk. You’ll play a key leadership role, participating in the organisation of the Actuarial department and wider Risk and Compliance team.
At AXA we work smart, empowering our people to balance their time between home and the office in a way that works best for them, their team and our customers. You'll work at least 40% of your week away from home, with this time spent at our London office.
What you’ll be doing:
- Provide 2nd line of defence on Insurance risk considerations for strategic plan developments, to the CROs and Chief Actuary to present to the Risk Management Committee/ Board.
- Ensure Insurance risk input is provided for reporting at Management Committees, CRO reports, Actuarial Function reports and ORSA report. Contribute to discussions within Board Risk Committees and provide challenge.
- Ensure an appropriate Risk Management Framework is in place for reserving, claims indemnity, catastrophe, underwriting, pricing, profitability and non-investment credit risks within the UK risk taxonomy.
- Monitor and report adherence to risk appetites including breach management, assisting development of recovery plans where this has been breached.
- Develop, manage and monitor the Product Approval Process (PAP) and Deals Approval Process (DAP) for new products and material product developments for AXA.
- Work collaboratively with the Actuarial Function to ensure that the Insurance risk profile is adequately reflected within the internal capital model, reserve review and reinsurance recommendations.
- Oversee the annual stress and scenario testing (SST) process, creating the Insurance risk related scenarios and working with other 1st and 2nd line teams to get input on other scenarios as part of the ORSA.
- Oversee the co-ordination of the validation activities and support the annual SMF attestations by the CRO on the internal model.
What you'll bring:
- Qualified actuary. Alternatively an actuarial/ General Insurance professional qualification or equivalent General Insurance knowledge.
- Currently in a Pricing or Underwriting Manager role, and looking for an opportunity to provide though leadership around risk identification, monitoring and management related to pricing and underwriting activities.
- Significant General Insurance experience which must include technical risks such as pricing, underwriting, claims and Insurance risk.
- Relationship management skills – ability to manage key relationships and act independently.
- Excellent written and verbal communication skills – able to interact with Executives, Senior Management and regulators.
- Substantial General Insurance product and industry knowledge with understanding of regulatory framework.
- Experience of leading a team.
- Self-motivation with proven ability to work under time pressure.
- Ability to plan, prioritise and manage a large number of tasks.
- Analytical problem-solving skills.
What We Offer:
At AXA UK, we’re appreciative of the people who work for us and our rewards package is reviewed regularly to reflect that. You can expect to receive:
- Competitive annual salary
- Annual company & performance-based bonus
- Contributory pension scheme (up to 12% employer contributions)
- Life Assurance (up to 10 x annual salary)
- 28 days annual leave plus Bank Holidays
- Opportunity to buy up to 5 extra days leave or sell up to 5 days leave
- AXA employee discounts
- Gym benefits
#LI-Hybrid
Who we are:
AXA UK Support Functions power AXA’s three customer-facing business units, providing the infrastructure, support and expertise to ensure our customers can always count on us. Whether you’ve got heaps of experience and qualifications behind you, or you’re just starting out, we’ll give you the support and opportunities to help you grow and develop with confidence.
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