Job Information
Axis Head of Underwriting Parameterisation in London - Scalpel, United Kingdom
This is your opportunity to join AXIS Capital – a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.
At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.
All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.
Job Description: Head of Underwriting Parameterisation
How does this role contribute to our collective success?
The Pricing function supports underwriters and management in building robust and profitable portfolios by providing objective insights through deep product expertise and by utilizing state-of-the-art functional capabilities.
The Portfolio Management and Pricing Analytics team sits within the Pricing function and is responsible for enterprise-wide analytics to aid portfolio steering and oversees cross-product initiatives to ensure consistency across the group.
The Head of Underwriting Parameterisation ensures we understand the risk that each line of business poses by modelling the distribution of outcomes based on historic experience and the latest exposure profiles. They have full visibility into how these distributions are used, particularly for capital allocation and outwards reinsurance purchasing, and capture any feedback on improvements for future iterations.
What will you do in this role?
Develop, maintain and document a central parameterisation template for the pricing actuaries to use which defines the methodologies the pricing actuaries will apply to derive the distribution of outcomes for each class.
Review, challenge, validate and document the pricing actuaries’ underwriting parameter selections.
Project manage the parametrisation process by coordinating regular review and update of the underwriting parameters by the Pricing team.
Oversee the selection of other underwriting-related parameters, such as emergence factors and dependency drivers, by gathering input from Pricing and liaising with Capital Modelling.
Review internal model output and collate feedback to improve the next set of underwriting parameters through participation in the review of capital allocations and ceded renewals, to ensure the parameters are fit for purpose.
Collaborate with the Pricing team to ensure consistency between the underwriting parameters used in the internal model and those used for pricing and portfolio management analytics.
Assist the Capital Modelling team with validating external models used to derive underwriting-related parameters.
Prepare responses to regulatory scrutiny of underwriting parameters.
You may also be required to take on additional duties, responsibilities and activities appropriate to the nature of this role.
About You:
We encourage you to bring your own experience and expertise to the table, so while there are some qualifications and experiences we need you to have, we are open to discussing how your individual knowledge might lend itself to fulfilling this role and help us achieve our goals.
What you need to have:
Associateship or Fellowship of an accredited Actuarial Society, or commensurate experience
Strong technical ability, and experience working with stochastic modelling
Ability to build relationships, collaborate and establish credibility with all stakeholders
Adaptive communication style with the ability to communicate results from actuarial analyses to non-technical audiences, including regulators
Growth mind-set with a desire to seek diverse thought, learn from others and share knowledge
What we prefer you to have:
Ability to run and update models in Tyche, or experience in similar simulation software
Knowledge of parameterising capital models
Enthusiasm to proactively challenge the status quo and develop innovative ideas
Role Factors:
In this role, you will typically be required to:
- Be in the office 3 days per week
What we offer:
You will be eligible for a comprehensive and competitive benefits package which includes medical plans for you and your family, health and wellness programs, retirement plans, tuition reimbursement, paid annual leave, and much more.
