GI Reserving Officer

Description

JOB TITLE:

Reserving Officer

DIVISION:

Finance

DEPARTMENT:

GI Actuarial Department

JOB GRADE:

10

LOCATION:

GT Tower International

REPORTING TO

(ROLE):

GI Reserving Director

NUMBER OF DIRECT

REPORTS:

None

MAIN PURPOSE

OF THE JOB:

The Reserving Officer role is responsible for delivering and communicating the monthly reserves estimates which are an integral part of the financial reporting process. This role will play a key part in the company's efforts to monitor loss ratio results to achieve underwriting profitability.

KEY ACCOUNTABILITIES:

• Research and pilot the adoption of innovative solutions to enhance the efficiency, accuracy, and analytical capabilities of the team, e.g. automation of repetitive tasks, advanced data analytics tools, etc.

• Analyze the underlying reserving data for insightful trends, drivers of claims development, and potential areas for improvement in underwriting or claims handling.

• Execute the local reserving framework including initial reconciliations, best estimate/moderate scenario selections, controls, and process documentation.

• Implement reserving models and processes for periodically selecting and reporting claims liabilities for the company.

• Update the actuarial assumptions in the reserving models including initial expected loss ratios, loss development factors, and method weights allocation.

• Prepare and validate all internal, external, and regulatory reporting requirements.

• Conduct the monthly monitoring and reserving process and quarterly full reserves reviews.

• Provide support in the clearance with the Chief Actuary, CFO, and other Business Unit heads, on the financial impact of full reviews.

• Work with parties such as Risk Management (Local and Regional), external peer reviewers, and auditors on different layers of reserves review.

• Comply with all relevant external regulations and internal AXA Group Standards and Guidance.

KEY

STAKEHOLDERS:

Actuarial, Accounting, Claims, Underwriting, Reinsurance, IT, Compliance, Risk Management, Internal Audit

Qualifications

EXPERIENCE AND QUALIFICATIONS:

• Bachelor's degree in Actuarial Science, Statistics, Mathematics, Data Science, Computer Science, or a related field.

• Minimum 3 to 5 years of experience in actuarial valuation in an insurance/reinsurance company or consulting background.

• Communicate effectively with senior management and key stakeholders regarding the bases and implications of actuarial and financial results using data visualization and storytelling techniques.

• Strong knowledge and experience in preparing, managing, and automating datasets for reserving analyses.

• Basic knowledge and experience in using reserving and machine learning software, e.g. Python or ResQ.

• Basic knowledge of general insurance principles, products, and practices.

• Excellent analytical and organizational skills and strong attention to detail.

• Ability to work independently and as part of a team.

• Proven ability to operate effectively at all levels and gain the trust and confidence of colleagues and senior management.

• Good business judgment; and ability to solve complex issues with pragmatic solutions.

About AXA

A global leader in insurance and investments, AXA takes care of 103 million lives in 64 countries worldwide. We actively invest in pioneering and personalized solutions to meet your ever-changing needs and exceed your expectations. In the Philippines, we are in partnership with Metrobank, one of the country's strongest banks.

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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