Reserving Actuary, AFR

Job Description

Reserving Actuary, AFR

Gurgaon, Haryana, India

We invent the new to help the world move forward. Combining powerful analytics and deeper insights with bigger ideas and innovative solutions, we free up our clients’ potential, thereby fulfilling our own. Take it seriously. Make it fun. Know it matters. We are seeking a highly skilled and experienced Qualified Actuary to join our Property & Casualty (P&C) Reserving team. The successful candidate will manage various portfolios for a region/legal entity. The successful candidate will play a critical role in review of the analysis, estimation, and reporting of reserves for our P&C insurance products. This position requires a deep understanding of actuarial principles, advanced statistical methods, and regulatory requirements. The ideal candidate will have excellent analytical, communication, and leadership skills, with a proven track record in the P&C insurance industry.

What you’ll be DOING

What will your essential responsibilities include?

• Underwriting Unit Reserves Actuary in the Actuarial Financial Reporting team in India, with the responsibility of one of the largest US Casualty line of business within AXA XL division.
• Valuation: Managing reserves across multiple portfolios to ensure accuracy and adequacy of reserve estimates. This includes assessment and review of methodologies and assumptions across the portfolio and drive changes where appropriate. The candidate will have the responsibility to rationalize, document and present their results to company’s business and management teams.
• Regular discussions on the portfolios with Head of Reserving and Regional Chief Actuary on the valuation results and claims experience, methods and assumptions used.
• Financial Reporting: Ensure all deliverables are met by the team on a timely basis, to allow for consultation with the business and meet all financial reporting requirements.
• Lead the consulation with underwriters and management regarding experience, implications for financial reporting and recommendation for areas of consideration through valuation analysis.
• Assess, review and challenge all reserving decisions made in respect of these businesses along with presentation and provision of management information to the management, both internal and external to the reserving team.
• Business Planning and Profitability analsysis: Actively participate in projecting budget loss ratios for the various segments within the line of business. This will be used to assess and forecast the future profitability, providing critical insights to support strategic planning and decision making. The results will be communicated to the company’s business and management teams, highlighting implications for profitability at both the business group and segment level.
• Regular evaluation of ongoing profitability of the business feeding into Business Planning considerations, but also to support portfolio management and strategy within the business.
• Conduct in-depth analyses of different aspects of the portfolio, to gain insights into business intricacies.
• Business Partnering: Regular discussions with the business partners on claims, underwriting and pricing side to understand the business strategies and market environment to ensure these are considered in the reserve projections of the portfolio.
• Identify business challenges and risks in the portfolio considering latest market environment and outline methodologies to address these risks and propose potential solutions.
• Understanding business problems and translating business information into dynamic and effective reports or dashboards to generate meaningful business insights.
• Provide actuarial insights on strategic initiatives and other business/results communications, as requested.
• Team management and compliance: Ensure adherence to internal guidelines and processes in all the analysis and results. Ensure uniformity across all portfolios as per division guidelines.
• Manage the team effectively and ensure an appropriate feedback loop is used after discussions with other stakeholders and colleagues.
• Other responsibilities: Managing discussions with external parties including auditors and other external stakeholders, regarding data and results
• Research & Development: Research/Learn about new Reserve/Reserve Risk/claims analytics methodologies and develop new and creative solutions to actuarial issues.
• Self-directedly analyzing project requirements to own and deliver projects/initiatives with very high quality to establish support credibility.
• Analyze and apply technical information to practical situations and assess opportunities for improvement.

You will report to Head of Reserving – North America, AFR.

What you will BRING

We’re looking for someone who has these abilities and skills:

Required Skills and Abilities:

• Qualified Actuary with atleast 10 years of experience working in an insurance and/or actuarial consultancy is required, with a significant focus on reserving. A track record which demonstrates development of leadership capabilities as well as the ability to ensure timely delivery under pressure is essential.
• Capability to navigate in a Global actuarial organization with multiple stakeholders within both the Central Actuarial teams and the Regional Actuarial teams.  A key part of the role will be to develop and maintain excellent working relationships with these teams as the actuarial team is a Global function.
• 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.
• Ability to manage multiple conflicting tasks and outputs. Able to plan long term deliverables and ensure tasks are planned and completed timely and any delays or complications are communicated early and resolved appropriately.
• Outstanding analytical and modeling capabilities with research and problem-solving skills.
• Develop and use collaborative relationships to facilitate the accomplishment of work goals.
• Ability to work with minimum supervision and problem-solving ability.
• Team management experience including managerial skills, coaching and development, performance management, delegation and communication.
• Ability to manage key projects focussing on simplification, efficiency and transformation, spanning across multiple portfolios and impacting the entire division.

Desired Skills and Abilities:

• Ability to work self-directedly or as part of a team.
• Ability to review the work of others for accuracy and completeness.
• Innovative and result-orientated.
• Technical expertise in SQL, SAS,  VBA or other programming language, would be an added advantage.

Who WE are

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 comprehensive 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

What we OFFER

Inclusion

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.   At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
• Robust support for Flexible Working Arrangements
• Enhanced family-friendly leave benefits
• Named to the Diversity Best Practices Index
• Signatory to the UK Women in Finance Charter

Learn more at axaxl.com/about-us/inclusion-and-diversity.  AXA XL is an Equal Opportunity Employer.

Total Rewards

AXA XL’s Reward program is designed to take care of what matters most to you, covering the full picture of your health, wellbeing, lifestyle and financial security. It provides competitive compensation and personalized, inclusive benefits that evolve as you do.

We’re committed to rewarding your contribution for the long term, so you can be your best self today and look forward to the future with confidence.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

Our Pillars:

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
• AXA Hearts in Action:  We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

For more information, please see axaxl.com/sustainability.