Team Lead, P&C and Health Insurance risk management

To ensure the implementation and strengthening of the company’s P&C, and Health risk management framework and policies in line with Regulatory & applicable AXA standards

To develop and implement consistent techniques and framework to systematically identify, assess, monitor, manage and report the most significant Property & Casualty and Health Insurance risks

To support the CRO in daily processes and activities that alert management about new issues and risks evolution

Role Qualification:

Academic/Professional: Relevant first degree in Statistics, Actuarial Science, Economics or Business Administration with professional English level. Associate Actuary, passed significant number of actuarial examinations and willing to become FSA/FIA/CERA

Work Experience: 7 – 10 years of applicable experience in the insurance or financial sector will be an added advantage

Key Responsibilities:

• Ensure compliance to Company, Regulatory, AXA Standards, Solvency II etc., policies, framework, and guidelines for risk management
• Ensure compliance to annual maturity targets and year-end updates of risk management scope, with particular focus on P&C and Health maturity models for onward delivery to the regional risk management
• Develop monitor and provide reporting on risk appetite statements and limits (particular focus on P&C and Health Insurance)
• Escalate alerts and risk evolution to direct report and management.
• Ensure appropriate level of quantification, review of assumption changes, updates and validation or model with CRO and Regional risk management as applicable
• Ensure Insurance risks mapping, and indicators are developed and implemented
• Develop techniques and methodology to enhance expert second opinion on efficiency of actuarial reserves, underwriting, pricing etc.
• Provide second opinion on suitable investment strategy for new products – PAP (Product Approval Process) related work
• Provide second opinion and challenge Portfolio Reviews (New Business/Renewals/Referrals)
• Provide second opinion of the efficiency and completeness of the underwriting and reinsurance programs of AXA Mansard (FAC and treaties)
• Support and provide second opinion on Catastrophic and Atypical losses, Capital Management etc.
• Ensure the regulatory accomplishment of risk management requirements
• Collaborate with first line to develop and implement policies and better internal controls for risk management
• Monitor policies above the Gross Underwriting Limits (GUL) for referrals.
• Oversee risk management framework for Product Approval Process (PAP), provide second opinion on products development (new and reviews), pricing, renewal, Volume risk, anti-selection, confirm product compliance to AXA UW guidelines and PAP Policy
• Provide strategic direction and leadership for the business development teams
• Demonstrate strong management and leadership skills, with emphasis on enabling the development of team members and encourage ownership and responsibility for their individual tasks.
• Effectively manage assigned teams for optimal productivity ensuring team development, performance levels and well being
• Participate in Risk Committees or other required Committees
• Understand and facilitate the human capacity and technical development needs of the Insurance Risk team
• Work closely and collectively with functional units to support management in ensuring their risks are identified, assessed, reported and managed
• Drive a sound risk culture, promoting open discussion within the business, debate and challenge across functional units. Independent peer review as a norm with regard to critical reports and decisions as well as proactive management of live/active risks and issues.
• Support the CRO in the execution of special projects relevant to Risk Management
• Support the CRO, Local Audit, Risk and Compliance Committee on key risk reporting as well as risk related matters, both technically and logistically
• Support the CRO in managing the day-to-day activities/operations of the risk management teams

Required Skills and Competencies

• Specialized and advanced math knowledge – Calculus, Statistics etc.
• Good knowledge and practical experience of financial theory, valuation, projection, actuarial modeling, actuarial control cycle, insurance products offerings (development, dependencies, features etc.), financial markets and instrument valuation
• Expert user of Office suite: Excel, Access, PowerPoint e.t.c
• Knowledge and use of programming language – VBA, R and SQL
• Relationship management and interpersonal collaboration, negotiation, and influence
• Strategic insight and integration
• Result oriented and solutions mindset
• Strong verbal and written communication skills and good presentation skills