Gurgaon, Haryana, India
We invent the new to help the world move forward. Combining powerful analytics and deeper insights with bigger ideas and innovative solutions, we free up our clients’ potential, thereby fulfilling our own. Take it seriously. Make it fun. Know it matters.Currently, the collection and dissemination of information to our risk transfer counterparties (traditional reinsurers and alternative capital providers) is ad hoc and distributed. We would like to centralize the activity to improve the quality of the data and the efficiency of the process. The expectation is for more than just “data gathering” - the desire is for someone who can consider the disparate way in which we share information with our external risk transfer counterparties and improve the quality, consistency, and overall relevance of what is presented - our data “face” to the outside world.What you’ll be DOINGExecute, support and coordinate TPRM governance & controls related activities, including checking, monitoring, reporting, tracking corrective actions and related updatesWhat will your essential responsibilities include?
- Support the Head of TPRM Governance, Risk & Controls in the overall management of third-party and outsourcing risk to support a continuous view of our third-party risk landscape across AXA XL; further developing your knowledge and specialist expertise in third party and outsourcing regulatory matters, to support AXA XL business areas in third party risk management controls and practices, while working to improve the third-party risk culture and strategies across the company
- Facilitate and support the interaction with AXA Group functions to understand the specific applicable TPRM/Vendor Risk Framework (VRF) requirements and assist in translating those into short/long term plans and drive the status of maturity across the fulfillment of agreed maturity targets
- Manage the specific TPRM/VRF requirements, implementations, rules of engagement, maturity level status, metrics and resulting third party risk profile to create monthly/quarterly reports, dashboards and data visualization outputs for presentation in senior management / executive committee / board level meetings and build/maintain executive management relationships with a
clear and coherent understanding of their respective business operations and third party risk profile (e.g., regional/legal entity COOs)
- Support market facing functions (e.g., UW, Risk Consulting) in addressing their client’s questions on TPRM through best-practice sharing and participate in client’s TPRM assessment discussions for better risk understanding as part of AXA XL’s commitment from “payer to partner”
- Continuously transform TPRM towards new industry standards, updated regulatory requirements, new tools and best practices to ensure AXA XL’s TPRM program and supporting policy and controls framework is a top quartile performer across the financial industry sector
- Engage and influence AXA XL business colleagues and stakeholders to ensure an adequate third-party risk culture is embedded across the business. Develop appropriate training material on the outsourcing and third-party risk policy and controls framework and support in the delivery of training sessions through various mediums to the relevant functions, colleagues and stakeholders as determined appropriate (e.g., GSP, SMEs, COOs).
- Support in the design, implementation, validation and regular assessment of compliance to AXA XL’s third-party risk management controls, identifying and reporting on third party risk control gaps and proposing changes to the business. Establish and update all relevant GSP policies and ensure legal entity adoption/reflection
- Assist in the development and monitoring of key AXA XL outsourcing and third-party risk KPIs/KRIs for discussion at appropriate risk governance committees and relevant company/legal entity boards as requested
- Help develop and maintain appropriate oversight/governance and escalation paths around outsourcing at both Divisional and Carrier level. Assist in the running of the monthly third-party governance committee, inclusive of setting committee ToR, membership, preparing agendas, designing/ensuring high quality ongoing and special content, establishing and following escalation protocols, etc.
- Facilitate the annual completion and ongoing updates of the AXA Critical Outsourcing Reporting for AXA XL, including required board reporting
- Monitor the Procurement Intake Form (PIF) process and results to ensure the appropriate criticality is applied to outsourcing arrangements and managing processes/escalations as appropriate. Conduct regular review of criticality criteria to ensure remains fit for purpose
- Collaborate across the various business stakeholder areas to create and maintain a single third-party registry, view and/or capability and include all relevant regulatory, agreed core data elements and sub-contracting arrangements providing services to AXA XL and core legal entities
What you will BRINGWe’re looking for someone who has these abilities and skills:
Required Skills And Abilities
- Highly knowledgeable in third party risk management (TPRM) domains and disciplines
- Highly experienced in developing, assessing and monitoring compliance to established TPRM policies and related internal controls
- Experience in implementing/maintaining TPRM governance framework, capabilities and supporting operational controls and processes/procedures in a highly regulated industry
- Ability to effectively manage activities/collaborate globally across diverse teams, cultures and languages in a highly matrixed, smart working environment
- Broader experience in risk management, advisory, consulting or audit disciplines is a plus
Desired Skills and Abilities: Ability to work with the following stakeholders :
- AXA Group Procurement/Risk Mgmt
- GSP Sourcing & Ops Teams
- Vendor Management Office
- Business stakeholders/regional COO/CROs.
Who WE are
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.Learn more at axaxl.comWhat we OFFERInclusionAXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.
- Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
- Robust support for Flexible Working Arrangements
- Enhanced family-friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.Total RewardsAXA XL’s Reward program is designed to take care of what matters most to you, covering the full picture of your health, wellbeing, lifestyle and financial security. It provides competitive compensation and personalized, inclusive benefits that evolve as you do.We’re committed to rewarding your contribution for the long term, so you can be your best self today and look forward to the future with confidence.AXA, the AXA and XL logos are trademarks of AXA SA or its affiliates. AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance,SustainabilityAt AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Our Pillars
- Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society - are essential to our future. We’re committed to protecting and restoring nature - from mangrove forests to the bees in our backyard - by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
- Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
- AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day - the Global Day of Giving.
For more information, please see axaxl.com/sustainability.
