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    Head of Governance, Risk - Birmingham, United Kingdom - Sports Technology Awards Group

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    Description

    A commercial lines (re)insurer, AXA XL is subject to a range of risks as a result of its underwriting activities.

    AXA XL's Risk Management Function defines processes, rules and governance to empower the business to take on risks in a secured environment, thus enhancing value creation and protecting the capital, liquidity, earnings and reputation of the company for the long term.

    As a result, AXA XL's culture embeds a disciplined and conscious approach to the acceptance of risk where risks are transparent, understood and the appropriate reward can be defined.

    The Underwriting Risk department is the Center of Excellence within AXA XL Risk Management responsible for helping AXA XL manage underwriting risk, which is the risk that underwriting income volatility observed over a given time period is not within expected levels, i.e.

    premium income is less than expected and/or loss experience is worse than expected.

    The mission of the Underwriting Risk Management team is to act as the second line of defense on underwriting topics across the AXA XL organization, by helping AXA XL to identify, measure, monitor, manage and report on underwriting risks.

    Cyber insurance is one of the fastest growing lines of business within Property & Casualty and – as a constantly evolving product – comes with its own unique set of risks.

    The Senior Underwriting Risk Manager will be responsible for managing the underwriting risks associated with the Cyber portfolio of AXA XL.

    This means ensuring policies and standards are respected and followed, incorporating cyber risks into the broader underwriting risk framework, carrying out reviews of key cyber underwriting activities and helping the business monitor the portfolio.

    The Senior Underwriting Risk Manager will report to the Head of Underwriting, Pricing & Reinsurance Risk Management
    Contact point for AXA Group & AXA XL on underwriting risk topics impacting AXA XL Insurance and Reinsurance portfolios exposed to cyber, either directly or indirectly

    Liaise with AXA Group & AXA XL senior leaders and cyber experts to ensure that an appropriate Cyber Risk Management Framework is in place and that the Cyber Risk Appetite is properly assessed and defined.

    Monitor and report adherence to such risk appetite and, when a breach occurs, assist the 1st line in returning within appetite
    Provide the Risk Management 2nd opinion on cyber underwriting referrals to AXA Group
    Perform quarterly review of cyber portfolio performance, including deviation from strategic plan, profit benchmarking, changes to risk profile, large losses and emerging risk issues
    Collaborate with underwriting teams on cyber business reviews, leading product and profitability reviews and providing the Risk Management 2nd opinion
    Identify potential systemic and non-systemic risks associated with cyber insurance and provide concrete recommendations to underwriting.
    Support the development of cyber stress scenarios and more broadly the modeling of cyber risks
    Help bring and maintain the pricing of cyber exposures to a state-of-the-art level
    Contribute to the Risk Management 2nd opinion with respect to cyber reinsurance purchasing, in collaboration with the Ceded Reinsurance and Capital Modeling departments
    Contribute to other activities of the Underwriting Risk Management team outside of the cyber space
    A degree in actuarial science, mathematics, statistics, economics, law or
    Alternatively, experience as a cyber specialist in the Information Security or risk consultancy space with a deep technical understanding of cyber risk and an interest in applying that to the insurance space
    Extensive knowledge of commercial lines insurance products and the insurance industry, including regulatory frameworks
    Fundamental understanding of business operations, particularly in regard to navigating a large corporation or identifying key stakeholders and their needs
    Team player with a proven ability to partner with business partners and manage key relationships
    Excellent written and verbal communication skills to communicate with and present to senior leaders
    AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks.

    By combining a strong 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.
    Diversity & Inclusion
    We know that a diverse workforce and inclusive culture enable business growth and are critical to our success. Named to the Diversity Best Practices Index – 2017, 2018
    Signatory to the CEO Action for Diversity
    Signatory to the UK Women in Finance Charter
    Robust support for Flexible Working Arrangements
    Enhanced family friendly leave benefits #J-18808-Ljbffr


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