Senior Capital Specialist

What youll 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

Were 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.