AXA XL is an Equal Opportunity Employer.
Head of Reserving – International Short Tail Lines, AFR
Dublin, Ireland
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You will be responsible for the short tail lines of the International Business Group of AXA XL; International Property, International Construction, Climate and Structured Risk Solutions. This equates to gross reserves in excess of $3.0bn and annual gross earned premiums of $2.8bn.
You will present results and insights from your Underwriting Units to senior stakeholders both inside and outside the Actuarial Function.
In achieving this, you will have the support of direct reports in Ireland, and you will work closely with other teams within Actuarial Financial Reporting (AFR), with respective pricing actuaries, with the wider Global Finance team, and will exchange with the providers of independent actuarial opinion(s).
What you’ll be doing
What will your essential responsibilities include?
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Valuation Analysis: within the AFR framework, the valuation is completed twice a year following quarter 1 and quarter 3 Actual vs Expected analysis:
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Assessing, reviewing and evaluating the appropriateness of methodologies and assumptions across relevant lines of business, and driving changes where this is considered appropriate.
- Reviewing the rationalisation of any changes to methods and assumptions and the impact on financial reporting.
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Presenting results and rationalisations to senior management both internal and external to the Actuarial Function.
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Quarterly Financial Reporting: Delivery of quarterly performance analysis for the Short Tail lines of business of the International Business Group. This will include consideration of emerging experience in respect of attritional losses along with large loss and catastrophe activity in conjunction with the Head of Major Events Reserving:
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You will have responsibility for the reserving on the three pillars, Attritional, Large Losses and Natural Catastrophe for the International Short Tail Lines portfolio.
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Assessing, reviewing and evaluating all reserving decisions made in respect of these businesses along with presentation and provision of management information to the legal entity actuaries and to the Global Chief Actuary.
- Ensuring 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.
- Leading 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.
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Reviewing and evaluating all material movements and impacts in the quarter across relevant businesses.
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Assessing, reviewing and questioning (where necessary) any second opinion results, in addition to the annual audit process.
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The candidate will also explain the consequences of the reserving to the business . You will have responsibilities to the individual legal entity’s actuaries to rationalise, document and present at these different levels.
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Profitability Analysis: Regularly evaluating the ongoing profitability of the business feeding into Business Planning considerations, but also to support portfolio management and strategy within the business.
- Business Planning: The AFR team is a key contributor to the development of the AXA XL division business plan each year, and this role actively participates in the setting of the budget loss ratios at the different portfolio levels. This will include evaluating underwriting strategies with the business and their pricing actuaries.
- Legal Entity Support: AXA XL writes business through a number of different legal entities. You will contribute to legal entity assessments and support the rationalisation of legal entity changes and impacts for these 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 AFR 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.
You will report to Head of XLICSE and APAC & Europe Reserves Function, AFR.
What you’ll bring
We’re looking for someone who has these abilities and skills:
Required Skills and Abilities:
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Qualified actuary with extensive experience within the non-life insurance Industry, with a significant focus on reserving. Knowledge of ResQ software and excel add-in would be an advantage.
- 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.
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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.
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Compelling 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.
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.
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Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
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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:
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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.
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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.
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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.
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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
