This is your opportunity to join AXIS Capital – a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.
At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.
All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.
Reporting into the Chief Reserving Actuary, this position will lead the Casualty Lines Product Reserving team, which is responsible for executing the quarterly reserving process including determining the actuarial central estimates (ACEs) across Insurance and Reinsurance, and performing deep dives on specific areas of interest. The position will work closely with key stakeholders including underwriting, pricing and claims professionals to refine estimates and ensure a strong feedback loop between the teams.
KEY DUTIES & RESPONSIBILITIES:
• Oversee the execution of the quarterly reserving process including initial reconciliations, ACE selections, peer review, controls and documentation.
• Oversee the selection of actuarial assumptions including initial expected loss ratios, loss development curves and default method weights.
• Review and validate plan loss ratios.
• Support legal entity and corporate reporting requirements.
• Perform ad-hoc deep dive analyses on reserving hot topics such as social inflation.
• Continually enhance processes and help improve reserving analytics.
• Manage the Casualty Lines team with two direct reports ensuring the company recruits, retains and develops staff to enable a high-performance reserving function.
• Provide recommendations of management best estimate of reserves based on key uncertainties and risks for Casualty lines
• Help design and create best practice reserving practices and policies
• Enhance data and capabilities to improve reserving analytics and diagnostics
• Peer review segment calculation of pricing loss rations and pricing model assumptions
• Help contribute/run various projects including reserving platform rebuild, profitability reviews, portfolio optimization, etc
• Help design a process to perform reserving on a less frequent basis for long tailed lines (e.g. bi-annual)
• Support valuation of potential transactions to better utilize capital such as adverse development covers or loss portfolio transfers
• Review and revamp our current claims sensitivity process for Insurance
REQUIRED EDUCATION/TRAINING & EXPERIENCE:
• Bachelor's Degree in Math, Accounting, Economics, Statistics, Business, Risk Management or a similar field.
• Significant industry experience with an insurance, reinsurance, or consulting background in reserving, pricing, or modeling roles.
• Experience managing actuarial staff for an insurance/reinsurance or consulting company.
• Fellowship in the Casualty Actuarial Society (FCAS) or Institute of Actuaries (FIA) preferred.
OTHER DESIRED SKILLS & CHARACTERISTICS:
• Promote and demonstrate the AXIS values of delivery on promises; integrity; passion; dynamism and One-AXIS.
• The ability and desire to work collaboratively with different functional areas.
• Must be familiar with SAP/GAAP reporting and actuarial standards of practice and be well-versed in ratemaking and reserving using traditional and advanced techniques.
• Experience and demonstrated success in significant leadership and management roles.
• Proven ability to plan, organize, and direct the execution of organizational goals, objectives, and complex processes.
• Excellent organizational skills and a strong attention to detail.
• Ability to think strategically and stimulate creativity.
• Superior analytical skills.
For this position, we currently expect to offer a base salary in the range of GA: $215K - $260K, IL: $240K - $285K, NJ: $250K - $300K, NY: $260K - $310K . The specific salary offer will be based on an assessment of a variety of factors including the experience of the successful candidate and their work location. In addition, all employees are eligible for competitive incentive targets, with awards based on overall corporate and individual performance. On top of this, we offer a comprehensive and competitive benefits package which includes medical plans for employees and their families, health and wellness programs, retirement plans, tuition reimbursement, paid vacation, and much more.