Product, Pricing & Underwriting Risk Manager

AXA; United Kingdom; Hybrid; GBP 70,000 - 100,000; Full time

Job summary

AXA UK seeks a Product, Pricing & Underwriting Risk Manager to strengthen risk practices across the product lifecycle, pricing, and underwriting. The role reports to the Risk Lead and drives effective controls, risk reporting, and risk culture within the teams.

You will embed the enterprise risk framework, develop risk MI, and collaborate with multiple stakeholders to support fair customer outcomes and improved risk maturity.

Qualifications

• Proven experience in risk management within insurance, financial services, or product, pricing, and underwriting functions.
• Strong understanding of product development, pricing strategies, underwriting risks, and associated controls.
• Knowledge of FCA/PRA requirements and operational risk frameworks related to conduct and product risks.
• Ability to influence senior stakeholders and build collaborative relationships across multiple teams.
• Excellent data analysis and MI development skills, capable of translating large data sets into clear insights.
• Skilled in coaching and developing teams, fostering a risk-aware and customer-centric culture.
• Strong organisational skills with attention to detail, capable of managing multiple priorities effectively.
• Confident communicator, able to facilitate discussions and deliver impactful reports at senior management forums.

Responsibilities

• Support embedding the AXA UK Enterprise Risk Management Framework within product, pricing, and underwriting teams, ensuring controls, policies, and processes are consistent and effective.
• Assist in maintaining risks, controls, and action plans within the UK Risk Library, ensuring timely updates and transparency.
• Facilitate completion of Risk & Control Self Assessments (RCSAs), working with risk owners to assess risk tolerance and develop appropriate path-to-tolerance actions.
• Collaborate with product, pricing, and underwriting teams to identify, assess, and mitigate risks, supporting the design and testing of controls to manage risk exposure.
• Develop and deliver risk MI and reports to support decision-making, risk prioritisation, and activity planning.
• Support the delivery of initiatives from the FutureGen Risk programme, ensuring they meet milestones and enhance risk maturity.
• Work with Line 2 Risk to ensure consistent application of the risk framework, promote best practices, and embed a proactive risk culture.
• Support risk owners in managing third-party oversight and ensure controls are aligned with policies and standards.

Skills

Risk management

Product development

Pricing strategies

Underwriting risks

FCA/PRA knowledge

Stakeholder management

Data analysis

MI reporting

Coaching

Communication

Job description

About AXA:

AXA is a global leader in insurance and financial services, dedicated to helping customers protect what matters most to them. As the sixth-largest insurance company in the world, we provide a wide range of services, including health, car, home, and business insurance. We support millions of customers worldwide, helping them navigate life's uncertainties with confidence.

AXA Insurance UK, formed by uniting our Commercial and Retail teams under a single leadership, strengthens our core capabilities and our commitment to exceptional customer service

Job overview:

We are seeking a Product, Pricing & Underwriting Risk Manager to support AXA Insurance’s distribution, product, pricing, and underwriting teams. Reporting to the Product, Pricing & Underwriting Risk Lead, you will help embed effective risk practices, ensure controls are fit for purpose, and promote a risk-aware culture across our Insurance Product, Pricing and Underwriting Teams. Your role will focus on managing risks across product lifecycle, pricing strategies, and underwriting activities to support fair customer outcomes and strengthen risk maturity across the business.

Key responsibilities:

• Support the implementation and ongoing embedding of the AXA UK Enterprise Risk Management Framework within product, pricing, and underwriting teams, ensuring controls, policies, and processes are consistent and effective.
• Assist in maintaining risks, controls, and action plans within the UK Risk Library, ensuring timely updates and transparency.
• Facilitate completion of Risk & Control Self Assessments (RCSAs), working with risk owners to assess risk tolerance and develop appropriate path-to-tolerance actions.
• Collaborate with product, pricing, and underwriting teams to identify, assess, and mitigate risks, supporting the design and testing of controls to manage risk exposure.
• Develop and deliver risk MI and reports to support decision-making, risk prioritisation, and activity planning.
• Support the delivery of initiatives from the FutureGen Risk programme, ensuring they meet milestones and enhance risk maturity.
• Work with Line 2 Risk to ensure consistent application of the risk framework, promote best practices, and embed a proactive risk culture.
• Support risk owners in managing third-party oversight and ensure controls are aligned with policies and standards.

Work arrangements:

At AXA we work smart, empowering our people to balance their time between home and the office in a way that works best for them, their team and our customers. You'll work at least two days a week (40%) away from home, moving to three days a week (60%) from January 2027. Away from home means attending the office, visiting clients or attending industry events.

Your skills & experience:

• Proven experience in risk management within insurance, financial services, or product, pricing, and underwriting functions.
• Strong understanding of product development, pricing strategies, underwriting risks, and associated controls.
• Knowledge of FCA/PRA requirements and operational risk frameworks related to conduct and product risks.
• Ability to influence senior stakeholders and build collaborative relationships across multiple teams.
• Excellent data analysis and MI development skills, capable of translating large data sets into clear insights.
• Skilled in coaching and developing teams, fostering a risk-aware and customer-centric culture.
• Strong organisational skills with attention to detail, capable of managing multiple priorities effectively.
• Confident communicator, able to facilitate discussions and deliver impactful reports at senior management forums.

As a precondition of employment for this role, you must be eligible and authorised to work in the United Kingdom.

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