GI Risk Officer
4 weeks ago
Quantitative and Analytical Support on Risk Modeling, Actuarial Reviews, and Governance
- Coordinate and provide support for independent second opinion reviews on strategic plan, product development, pricing, reinsurance, reserving, and capital management
- Lead and develop the modelling of P&C risks for all lines of business
- Review and validate the local Risk Appetite limits for each line of business
- Support in the development of risk scenarios that will be the basis of sensitivity testing in product, pricing, and reinsurance reviews
- Support the Underwriting team in evaluating the risk impact of proposed actions to ensure consistency with stated risk appetite and tolerance levels
- Support the Actuarial team in the calculation of Economic Combined Ratios and liaise with Underwriting and Reinsurance teams to communicate results and ensure the appropriate implementation within pricing models
- Support the Risk Management team in developing and maintaining Risk Management metrics and processes as may be required to ensure the ongoing stability of AXA Philippines
- Work closely with Product Development, Actuarial, Underwriting, Reinsurance, Claims, Corporate Strategy, and Finance teams in promoting a consistent and informed risk culture
- Assist in ensuring adherence to all risk management standards, frameworks, and policies
- Source updated exposures and liaise with Underwriting and Actuarial teams to ensure and confirm ongoing compliance with Risk Appetite Framework
- Ensure that relevant risk owners have provided timely remediation actions plans for any breaches in Risk Appetite
- Source and assist in the development of appropriate risk monitoring tools and key risk indicators leveraging on internal and external data; possess the intuition to propose applicable risk mitigation to remedy identified issues of varying severity
- Define and supervise the risk exposure data collection across all lines of business, providing insights to earnings, solvency, and liquidity
- Analyze the product, pricing, profitability, underwriting, reinsurance, reserve, and solvency risks of all products and lines of business
- Ensure the alignment of business actions with strategic and emerging risk mitigations
- Provide support in the data quality signoffs on management reporting data for risk exposures
- Regular follow up on recommendations or action plans identified during the second opinion processes and risk exposures monitoring
- Source and consolidate risk information for Board and Management reports and support in drafting the relevant documentation and presentations summarizing main highlights and findings
- Contribute to risk identification, measurement and reporting for management, and further develop capabilities to thoroughly build risk reporting in coordination with other teams
- Be the key subject matter expert for quantitative risk data and modelling topics to colleagues in risk management team
- Influence the business in the effective management of the GI P&L to drive top line and bottom line growth and to deliver the expected BU performance metrics, with particular focus on Combined Ratio and Underlying Earnings, while ensuring compliance with AXA Philippines' risk appetite and other risk management frameworks
- Contribute to shaping the maturity of the Risk Management Framework to meet the team's target level of maturity
- Proactively identify opportunities and challenge the status quo
- Assist in planning activities as relevant
- Strong collaboration with local teams, regional teams, Group and other AXA entities
- Self-driven on assigned initiatives
- Qualifications in Actuarial Science, Statistics, Mathematics, Economic, Engineering, Computer Science, Business Administration, Accounting, or other relevant discipline
- In progress to take actuarial exams with any recognized Actuarial Professional body (ASP, CAS, SOA, FIA, FIAA, etc.)
- At least 5 years solid experience in Nonlife Actuarial Valuation, Pricing, CAT modeling, or quantitative risk modelling; added advantage if with underwriting, reinsurance, and big data experience
- Ability to build, use and understand various actuarial models; knowledge of the data analytics techniques is an asset
- Good understanding of the nonlife insurance industry, operations, regulations, challenges, and competitive landscape
- Robust business acumen and understanding of the economics of an insurance business, in particular the profitability drivers
- Ability to incorporate forward looking views of the market in recommendations
- Highly numerate and analytical with very good problem-solving skills
- Strong interpersonal and presentation skills with the ability to build mutually beneficial internal and external relationships
- Ability and desire to work effectively in a team-oriented environment with other actuaries, underwriters, and risk managers in a cooperative and open manner
- Outstanding communication skills are essential; ability to present complex ideas/analysis to a range of internal stakeholders with varying backgrounds; ability to present key results in a factual concise format, communicate and persuade members of senior management
- Natural desire and curiosity to continually learn and self-develop
- Ability to work and lead projects within a network organization (project management skills)
- Ability to coordinate several teams of senior underwriting and claims experts
- Autonomy, organization, flexibility and capacity to adapt to new situations such as to carry unplanned workloads and a keen ability to enhance/organize team working practices
Established in 1999, AXA Philippines is one of the largest and fastest growing life insurance companies in the country. It offers financial security to more than one million individuals through its group and individual life insurance as well as general insurance products through its subsidiary Charter Ping An.
AXA Philippines is one of the first to introduce bancassurance operations in the country, and is among the pioneers in the investment-linked insurance sector.
AXA now offers a complete range of products for all its customers' insurance and financial protection needs, including savings and investments, health plans, income protection, and health coverage; and through its general insurance subsidiary Charter Ping An Insurance Corporation: fire, motor car, marine cargo, personal accident, bonds, casualty, and engineering insurance products.
AXA Philippines closed 2017 with P26.4 billion in total premium income and P5.7 billion in gross written premiums from Charter Ping An. Today, AXA has more than 4,000 financial advisers in 36 branches, and 700 financial executives in over 900 Metrobank and PSBank branches nationwide. Charter Ping An, on the other hand, has 22 branches nationwide and 2,007 agents.
AXA Philippines is a joint venture between the AXA Group, headquartered in France, and the Metrobank Group, one of the largest financial conglomerates in the Philippines.
The Metrobank Group is a conglomerate of industry-leading businesses that includes First Metro Investment Corporation, Metrobank Credit Cards, Federal Land, Toyota, and Manila Doctors Hospital. It was hailed Best Bank in the Philippines in 2010, 2011, and 2012 by Euromoney and recognized as the strongest bank in the Philippines by The Asian Banker in 2013. It is owned by the Ty Family whose major business interests include financial services, real estate development, power, and manufacturing.
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