Capital Modelling Analyst

AXA Global Business Services; Gurugram District; On-site; INR 1,800,000 - 2,600,000; Full time

Job summary

AXA Global Business Services in Gurugram seeks an actuarial professional to support capital modelling, risk management and internal model validation across AXA UK components.

The role involves developing risk models, calibrating insurance risk assumptions and ensuring compliance with regulatory requirements, with strong coding in Python, R and SQL.

Qualifications

• Actuarial exams progress desirable but not mandatory.
• Very strong numeracy with good academic record (IIT/IIIT preferred).
• Some Python, R and SQL coding and algorithms skills.
• Strong mathematics with understanding of probability distributions; copulas a plus.

Responsibilities

• Calibrate, run, maintain and validate the Internal Model for AXA UK.
• Assist in producing insurance risk assumptions calibrations for AXA UK.
• Develop and maintain internal models to meet regulatory rules.
• Develop loss forecasting risk models.
• Code in Python/R/SQL to model risk and visualize distributions.

Skills

Python programming

R programming

SQL programming

Numerical analysis

Mathematics

Analytical thinking

Education

IIT/IIIT background

Tools

ReMetrica

Job description

What you'll be Doing

What will your essential responsibilities include

Capital Modelling

• Support the calibration, running, maintenance, development and validation of the Internal Model across AXA UK (Health, Personal Lines Commercial lines). The principal tool used is ReMetrica.
• Support the production of insurance risk assumptions calibrations for AXA UK
• Support the development and maintenance of the Internal model to ensure compliance with the risk measurement requirements evolving within local regulatory rules
• Develop and maintain loss forecasting risk models
• Working in advance R/Python in in development of risk models and to visualise and understand risk distributions and interpret / translate to impact on the business
• Manage the processing of detailed financial accounting data into a suitable format for entry into the capital models
• Participate and contribute to group working parties and develop appropriate model evolution plans for implementation
• Assist in meeting regulatory and other requirements to secure ongoing approval for the AXA UK components of the internal model used for capital assessment
• Other ad-hoc tasks requiring coding expertise

Risk Management

• Ensure an effective insurance risk management system which complies with Group and Local policy requirements and those of the regulator.
• Supporting the capital assessment process - see above.
• Assisting in the development and embedding of capital-related Insurance and Health risk appetites within AXA UK.
• Ensure compliance with relevant policies
• Incorporating profitability measures within the business in line with solvency and other business requirements

Reinsurance Arrangements

• Assist Capital leads in the review of the annual reinsurance process by performing analysis to determine whether risk transfer arrangements are efficient and optimal.

Actuarial Research and Development

• Deliver appropriate actuarial analysis and research to support business goals and drive strategy as may be requested from time to time
• Collaborate with other colleagues in the wider Capital Team Actuarial Function on latest developments.

Internal Financial Control (IFC), Internal Model Review (IMR) and External Validation

• Ensure processes and controls are undertaken and evidenced appropriately in a timely manner.

You will report to Vice President, Group Services.

What you will bring

We're looking for someone who has these abilities and skills:

Required Skills and Abilities

• Progress in actuarial exams is desirable but not mandatory
• Highly numerate and analytical with good academic record (preferably IIT/IIIT)
• Some Python, R and SQL coding and algorithms skills
• Excellent mathematics skills with a good understanding of probability distributions. Basic understanding of copulas would be a plus.
• Understanding of modelling techniques such as regression, classification and basic frequency severity loss forecasting techniques
• Ability to design, undertake and communicate analyses under supervision from more experienced technical specialists
• Excellent data management and transformation skills
• Ability to work across functional teams

Desired Skills and Abilities

• Knowledge of ReMetrica beneficial but not essential
• Some basic accounting concepts for GAAP/IFRS would be a plus
• Curious, inquisitive, innovative and open to new ideas.
• Excellent attention to detail
• Good verbal and written communication skills
• A self-supported with effective organizational skills
• Experience of working for a general insurer or health insurer
• Knowledge of reserving and / pricing, which is beneficial to capital modelling decisions