Senior Underwriting Risk Manager - Cyber

Job Description
Job Number:
Senior Underwriting Risk Manager - Cyber
(
Job Number:
12002349D20230307
)
DISCOVER your opportunity
Location - London/Paris/USAA 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 ManagementDISCOVER your opportunity What will your essential responsibilities include?Contact point for AXA Group & AXA XL on underwriting risk topics impacting AXA XL Insurance and Reinsurance portfolios exposed to cyber, either directly or indirectlyLiaise 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 appetiteSupport underwriters in understanding, implementing and applying AXA Group’s Underwriting FrameworkProvide the Risk Management 2nd opinion on cyber underwriting referrals to AXA GroupPerform quarterly review of cyber portfolio performance, including deviation from strategic plan, profit benchmarking, changes to risk profile, large losses and emerging risk issuesCollaborate with underwriting teams on cyber business reviews, leading product and profitability reviews and providing the Risk Management 2nd opinionIdentify 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 risksHelp bring and maintain the pricing of cyber exposures to a state-of-the-art levelContribute to the Risk Management 2nd opinion with respect to cyber reinsurance purchasing, in collaboration with the Ceded Reinsurance and Capital Modeling departmentsContribute to other activities of the Underwriting Risk Management team outside of the cyber space We’re looking for someone who has these abilities and skills:A degree in actuarial science, mathematics, statistics, economics, law orAlternatively, an insurance professional qualification or proven advanced knowledge of insurance to be able to fulfill the above responsibilities Experience as a cyber insurance professional in pricing, underwriting, modeling or exposure managementAlternatively, 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 spaceExtensive knowledge of commercial lines insurance products and the insurance industry, including regulatory frameworksFundamental understanding of business operations, particularly in regard to navigating a large corporation or identifying key stakeholders and their needsA self-motivated problem solver with a strong attention to detail and ability to work independentlyA highly organized individual with a proven track of working under time pressureTeam 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 leadersFIND your futureAXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.How? 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.Learn more at axaxl.comDiversity & InclusionWe know that a diverse workforce and inclusive culture enable business growth and are critical to our success. That’s why we have made a strategic commitment to attracting and retaining the most diverse workforce possible, while creating a strong, inclusive culture where everyone is welcome and can contribute and reach their highest potential. Named to the Diversity Best Practices Index – 2017, 2018Signatory to the CEO Action for DiversitySignatory to the UK Women in Finance Charter Twelve Colleague Resource Groups around the GlobeRobust support for Flexible Working ArrangementsEnhanced family friendly leave benefits
AXA XL is an Equal Opportunity Employer.
Location
Location
:
GB-GB-London
Other Locations
:
FR-FR-Paris, US-CT-Stamford
Work Locations
:
GB London 20 Gracechurch Street
20 Gracechurch Street
London
London
EC3V 0BG
Job Field
Job Field
:
Risk
Schedule
Schedule
:
Full-time
Job Type
Job Type
:
Standard
Local Title (France)
:
Senior Underwriting Risk Manager - Cyber
Local Class (France)
:
Class 7
AXA XL is an Equal Opportunity Employer and does not discriminate against any colleague or applicant for employment on the basis of race, color, national origin, religion, sex, gender identity and/or expression, sexual orientation, age, disability, genetic information, veteran status, military status or any other category protected by local law.
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