Senior Capital Specialist

Senior Capital Specialist Gurgaon, Haryana, India AXA XL is the Property & Casualty risk division of AXA, created from the acquisition of XL Catlin in 2018. We partner with mid-sized to multinational clients to take their business further, with more than 30 lines of business to offer solutions for existing and emerging risks. With 9,000+ colleagues based in approximately 30 countries; we can serve clients in more than 200 countries. The key purpose of this role is to support the SDL Actuarial Risk in ensuring that the risk profile of AXA XL Division is adequately modelled and communicated via an internal capital model that reflects the SII and BMA standards. What you’ll be DOING What will your essential responsibilities include? Capital Modelling Lead elements of the calibration, running, maintenance, development and validation of the Internal Model across AXA UK (Health, Personal Lines & Commercial lines). The principal tool used is ReMetrica. Review model code and make amendments as necessary. Manage receipt of actual, forecast and planning data for capital modelling and communicate with stakeholders to ensure consistency of use. Review and justify appropriateness of model inputs and outputs. Run analysis of change, investigating and justifying results. Contribute materially to Solvency Data Quality reporting, ensuring standards are met, and be a role model for embedding a control framework. Drive development and maintenance of the Internal model to ensure compliance with the risk measurement requirements evolving within local regulatory rules. Lead elements of model use, facing into the business. Ownership and execution of critical processes including Standard Formulae/STEC Projections/Risk Margin calculations. Participate and contribute to group working parties and develop appropriate model evolution plans for implementation. Assist in meeting regulatory and other requirements to secure ongoing approval for the AXA UK components of the internal model used for capital assessment. Respond to queries or ad hoc investigations regarding the capital or underlying risk position of AXA UK. Provide information and field questions relating to all parts of the model on a tactical basis. Risk Management Contribute to the effective implementation of the risk-management system, focusing on the risk modelling that underpins the calculation of the capital requirements and to the Own Risk and Solvency Assessment (ORSA). Specifically, this involves: Ensure an effective insurance risk management system which complies with Group and Local policy requirements and those of the regulator. Leading parts of the capital assessment process – see above. Provision of capital modelling output to support actuarial analyses and risk second opinions. Driving development and embedding of capital related Insurance and Health risk appetites within AXA UK. Ensure compliance with relevant policies. Reinsurance Arrangements Contribute to the annual reinsurance review process by assessing the impact of reinsurance on capital, supporting the Actuarial Function team (Deputy Chief Actuary and Senior Catastrophe Risk and Reinsurance Manager) to perform analysis determining whether risk transfer arrangements are efficient and optimal. Actuarial Research and Development Drive delivery of appropriate actuarial analysis and research to support business goals and drive strategy as may be requested from time to time. Collaborate with other colleagues in the wider UK Capital Team & Actuarial Function on latest developments. Internal Financial Control (IFC), Internal Model Review (IMR) and External Validation Internal Financial Control (IFC), Internal Model Review (IMR) and External Validation , ensure processes and controls are undertaken and evidenced appropriately in a timely manner. You will report to Vice President, Group Services. What you will BRING We’re looking for someone who has these abilities and skills: Required Skills and Abilities: Qualified or nearly qualified Actuary. Track record in capital modelling is desirable otherwise experience in Reserving or Pricing roles in P&C business. Curious, inquisitive, innovative and open to new ideas. A self-starter with outstanding organizational skills, and ability to work in multi-geography team. Excellent attention to detail. Highly numerate and analytical with robust academic record and ability to solve complex problems. Excellent written and verbal communication skills. Python and R coding skills beneficial. Ability to work self supportedly on key areas of responsibility, with only peer review required. Ability to use expert judgment to check and validate technical results. Ability to work across functional teams. Desired Skills and Abilities: Strategic mindset, balancing excellent attention to detail with the big picture. Knowledge of ReMetrica beneficial but not essential. Willingness to learn and take on tasks outside areas of prior experience. Knowledge of accounting concepts for GAAP/IFRS is beneficial. Knowledge of solvency balance sheet is beneficial. Experience of working for a general insurer or health insurer. Knowledge of reserving and / or pricing, which is beneficial to capital modelling decisions. 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.