Capital Modelling Analyst

AXA XL; Gurugram District; On-site; INR 1,200,000 - 2,000,000; Full time

Job summary

AXA XL in India is seeking a capable actuarial professional to support capital modelling and risk management activities. You will calibrate and maintain the Internal Model across AXA UK components, working with ReMetrica, Python, and R to analyse risk distributions and translate insights into business impact.

You will collaborate with global teams, contribute to regulatory compliance, develop loss forecasting models, and assist in model evolution plans.

Qualifications

• 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.

Responsibilities

• Support calibration, running, maintenance, development and validation of the Internal Model across AXA UK (Health, Personal Lines Commercial lines).
• Support production of insurance risk assumptions calibrations for AXA UK.
• Support development and maintenance of the Internal model to ensure regulatory compliance.
• Develop and maintain loss forecasting risk models.
• Work in Python and R and SQL coding to develop risk models and visualise risk distributions.

Skills

Actuarial exams progress

Numerate & analytics

Python

R

SQL

Probability distributions

Modeling techniques (regression/forec

Data management & transformation

Cross-functional collaboration

Tools

ReMetrica

Job description

Job Summary

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 / or pricing, which is beneficial to capital modelling decisions