Global Chief Underwriting Officer – Cyber, Direct & Indirect
London, UK | New York, Hartford, or Stamford, USA | Paris, France
AXA XL underwrites affirmative cyber insurance coverage to companies of all sizes. This class has been identified by AXA XL as an exciting growth area with excellent prospects for the Global CUO to increase their profile and advance their career.
As digital threats grow more sophisticated, malicious, and hard to detect, our focus on innovation in providing tailored solutions to complex risks has earned AXA XL the reputation as a market leader. An increased dependence on technology brings increased vulnerabilities. Data breaches threaten the security of financial, customer, employee and other proprietary data, and, at any time, a cyber-attack can disrupt a company’s operations.
The Global Cyber CUO will be a member of the Global CUO - Financial Lines leadership team providing AXA XL with the ability to manage its cyber risk portfolio and exposure from an aggregated global product view. The role will be responsible for the roll-out of a common framework for portfolio management with a “grow, fix or maintain” approach which our 3 Regional Business Units will use to monitor and identify actions to take across the portfolio.
DISCOVERyour opportunity
The key focus of the role will be to deliver on three main functions:
1. Global Governance, Standards / Rules & Guidelines: The GCUO Cyber will drive global underwriting and pricing standards, internal governance and group wide standards to ensure compliance, risk management, and accountability within the underwriting processes.
2. Operations: streamline and optimize operational processes to enhance efficiency and effectiveness in underwriting activities; including end-to-end process reviews and re-design, as well as being the liaison point for the platform team for items with a segment-wide impact such as systems strategy, data governance, etc.
3. Innovation and Development: This includes product development and innovation, including supporting the regional cyber underwriting and pricing teams and our Innovation and other corporate functions, providing the support from the corporate insurance segment to further current and future innovation investments.
4. Strategy: Through performance tracking and close interactions with the standalone cyber underwriting teams and all other teams that provide either affirmative or non-affirmative cyber, the goal is to influence the portfolio mix, identify where there are opportunities for improved performance or opportunities for growth. Working with all parties involved, there is an expectation that these different initiatives will result in the GCUO leading a coordinated plan to either develop and grow a business or alternatively remediate them while assisting in coordination with the other functional teams.
Major Responsibilities:
GCUO – Cyber is responsible for the global view of the cyber peril and exposures; first party and third party in all lines of insurance.
Setting Underwriting Risk Appetite and Strategy- Project lead for Underwriting strategy development, communicating, executing and monitoring global product strategies (Product Unit Strategy Documents) (with GCUO – Financial Lines)
Governance, Controls and UW Authorities - Lead engagement with Global Underwriting Governance, AXA Group Underwriting Office (GUO), and Group Risk Management on 1st Line of defense framework. Support GCUO – Financial Lies with the implementation of 1st line of defense (pre and post bind reviews). Review and assess, post Bind reviews (1st Line), Independent reviews ( line), internal audit reports to ‘continually improve’ the Underwriting Product Technical strategy and associated 1st Line of defense framework, in conjunction with the GCUO – Financial Lines.
Portfolio Management - Support the GCUO – Financial Lines in driving insights into the global portfolios and assist in efficient and effective reinsurance structures to manage out net position.
Using existing Mi ‘Exec. Mi’ and Portfolio Mi; collate business Mi to support review and analysis discussions with Product CUO of Global/BU Financial performance.
Planning and Portfolio Performance - Drive insights into the global portfolio to help improve profitability for the Global Product, supporting the CUO and Practice Leader in deciding where they should expand and contract – using the PMP Data. Support the Global Practice Leaders in handling the PAP process and encourage profitable product innovation.
Expert Network / Industry Verticals -Support the GCUO – Financial Lines in the development and effectiveness of an Expert Network strategy to ensure best practice is driven through the entire Product globally and drive best practice. Identification of Emerging Risks and formulating a Development of necessary responses.
Training and Technical Development - Project lead for Technical Underwriting Training Syllabus strategy development and associated Technical Underwriting career path.Communicating with the BU using identified Technical Specialists as appropriate (with GCUO – Financial Lines).
Innovation - Support GCUO in the ‘fostering’ of innovation culture within and across the Business, in conjunction with BU CUO and AXA Cyber Center of Expertise (CCoE). Ensure new products go through the necessary AXA XL and AXA Group product sign off processes.
Client and Broker Engagement - Work with GCUO – Financial Lines and the product leadership team in the Regions to maintain robust strategic relationships with the broker network and co-ordinate with other lines of business and country managers.
Reports to : Global Chief Underwriting Officer – Financial Lines, AXA XL.
SHARE your talent
We’re looking for someone who has these abilities and skills:
5. Proven and established Cyber underwriting experience or underwriting experience in another area of expertise with a robust conceptual comprehension of data security, privacy, cyber and information risk.
6. Exceptional organizational and time management skills.
7. Ability to build a diverse global network.
8. Excellent collaborative skills and ability to build virtual teams.
9. Stellar interpersonal, presentation, written and verbal communication skills.
10. The ability to demonstrate critical thinking, decision making, and problem-solving skills.
11. The ability to travel approximately 30% of the time is anticipated on a global basis.
12. A Bachelor's degree or equivalent is desirable.
13. Continuing education or professional designations in insurance underwriting and information privacy including, Registered Professional Liability Underwriter (RPLU), Certified Information Privacy Professional and Chartered Property Casualty Underwriter (CPCU) are preferred but not required.
FIND your future
AXA 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 comprehensive 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.
Inclusion & Diversity