DISCOVER your opportunity
Senior Actuarial Analyst for the AXA XL Reinsurance reserving team across all lines of business. The role will report to the Head of London Reinsurance Reserving, Actuarial Financial Reporting. The role will primarily assist the quarterly reserve valuation process for the Reinsurance Segment across all lines of business.
The candidate will actively participate in the setting of the budget loss ratio and for the underlying portfolios including evaluation of their underwriting strategies. He/she will opine on the profitability of the business through the reserves review process and report to the business and the management of the company on these results and their implications for profitability at the business group and segment level.
The candidate will also be responsible for the London Reinsurance businesses at the level of the different legal entities that the underwriters use with a clear understanding of the different nature of these portfolios. He/she will therefore have responsibilities to the individual legal entity’s actuaries to rationalize, document and present his/her results at these different levels. The London business use our Lloyds Syndicate for a large portion of their portfolios and the candidate is expected to attend to these specific requirements.
The role will include reporting of results to finance and support the second opinion including review of external consultants. In fulfilling his/her reporting requirements, the reserves actuary will become ultimately responsible for the solvency II technical provisions for his/her businesses, their volatility and ultimately the alternative profitability presentation of IFRS 17 when in effect. We view this as an additional opportunity for the candidate to discuss these different measures of profitability with the businesses.
The role will have the support of the team based in India as well as team mates based in London. The candidate will have significant involvements with the Reinsurance team in India and London, the London Reinsurance underwriting teams responsible for these businesses including their pricing actuaries, the claims team, the ceded re team and of course the finance team.
The Reinsurance reserving team utilize SQL and Excel for data processing, the reserving platform, and the actuarial database so experience in these skills are essential for the role.
DISCOVER your opportunity
The role will involve direct analysis of components of the business along oversight and challenge of other areas supported by team members in India and the UK offices.
What will youressential responsibilities include?
· Profitability Analysis:Regular evaluation of ongoing profitability of the London Reinsurance business feeding into Business Planning considerations, but also to support Portfolio management and strategy within the business.
· Business Planning: The Actuarial financial reporting team is a key contributor to the development of the XL Catlin Reinsurance business plan each year, and this role actively participate in the setting of the target budget loss ratios at the different portfolio level. This will include evaluation of underwriting strategies with the business and their pricing actuaries.
· Quarterly Financial Reporting: Delivery of quarterly performance analysis across the London Reinsurance business. This will include consideration of large loss and Catastrophe activity along with emerging experience in respect of Attritional losses.
· Ensure all reporting deliverables are met by the team through the Quarter End Process to allow for full consultation with the business and to meet financial reporting requirements.
· Assess, Review and challenge reserving decisions made in respect of the London Reinsurance business along with Presentation and provision of management information to the Head of Reinsurance and the Global Chief Actuary.
· Lead the consultation with underwriters and management regarding experience in the quarter, implications for financial reporting and recommendation for areas of consideration through the valuation analysis.
· Review and challenge of rationalisation for all material movements and impacts in the quarter across relevant businesses.
· Valuation Analysis: The valuation is completed twice a year following quarter 1 and quarter 3 Actual vs Expected analysis:
· Assessment, review and challenge of the appropriateness of methodologies and assumptions across relevant lines of business, and drive changes where this is considered appropriate.
· Reviewing the rationalisation of any changes to methods and assumptions and the impact on financial reporting.
· Presentation of results and rationalisation to senior management both internal and external to the Reserving team.
· Legal Entity Support: XL Catlin writes business through a number of different legal entities. You will be expected to contribute to Legal entity assessments and support the rationalisation of legal entity changes and impacts in respect of the London Reinsurance businesses.
· Special Projects: Alongside your business and Legal entity responsibilities, you may also become involved in special projects intended to contribute to the development of the Actuarial Financial Reporting team as a whole which could involve development of processes or exhibits or focused investigations regarding new methodologies or assumptions potentially impacting the reserving analysis for all lines.
· Team Management: You will be expected to take on day to day management of tasks from the team supporting London Reinsurance, including direct management and oversight of contributors from the India Office.
SHARE your talent
SHARE your talent
We’re looking for someone who has these abilities and skills:
· Planning & Organisation: An ability to manage multiple conflicting tasks and outputs. Able to plan long term deliverables and ensure tasks are planned and completed accordingly and that any delays or complications are communicated early and resolved appropriately.
· Strong Communication: Excellent verbal and written communication, collaboration and presentation skills. Must have the ability to communicate even negative or difficult messages in a constructive and effective manner at all levels. Relevant experience of presenting and communicating ultimate claims movements and trends to underwriters.
· Business Partnering: Able to demonstrate an in depth knowledge of the businesses responsible for, as well as translate actuarial output into business value, ensuring various customers are able to understand the practical implications of our analyses and how the information provided can help them to make appropriate business decisions.
· Strategic Thinking and Tactical Implementation: Ability to invent, design and build solutions.
· Actuarial Experience: Expected to have relevant experience within the non-life (re)insurance Industry, with a significant focus on reserving.
· Technical experience: Expected to have experience in SQL and Excel VBA.
FIND your future
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.
How? By combining a strong and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines and specialty.
With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.
Learn more at axaxl.com
Diversity & Inclusion
We know that a diverse workforce and inclusive culture enable business growth and are critical to our success. That’s why we have made a strategic commitment to attracting and retaining the most diverse workforce possible, while creating a strong, inclusive culture where everyone is welcome and can contribute and reach their highest potential.
· Named to the Diversity Best Practices Index – 2017, 2018
· Signatory to the CEO Action for Diversity
· Signatory to the UK Women in Finance Charter
· Twelve Colleague Resource Groups around the Globe
· Robust support for Flexible Working Arrangements
· Enhanced family friendly leave benefits