YOUR WORK ENVIRONMENT
Why AXA? Every day, we work together for human progress by protecting what matters. A mission that puts a smile on your face and makes you want to get up in the morning!
One of the world's leading insurers in the protection of property, people and assets, AXA is 145,000 employees and contributors who are committed to our customers on a daily basis, 51 countries in which we distribute our products and services and more than 90 million customers who place their trust in us worldwide. As a responsible corporate citizen, AXA is committed to social and environmental causes on a daily basis. We are committed to an inclusive policy that recognizes and values individual differences. Do these ambitions speak to you? Then come and change the world with us!
The headquarters of the AXA Group (GIE AXA) brings together our corporate activities. It provides guidance and support to subsidiaries around the world, to ensure the coordination and monitoring of the Group's global strategy, the application of its standards, the consistency of commercial approaches and the sharing of best practices. The headquarters gathers approximately 1000 employees and is distinguished by its strong international culture (45 nationalities), which makes it a rich and stimulating place to work.
Within the Group, you will join the Group Risk Management (GRM) department which brings together high level and multidisciplinary staff with engineers, PhDs, actuaries, data scientists and financials split between Paris, Zürich and Madrid. Its main missions are focused on the following key areas:
Analyse, model and aggregate the Group’s risks (economic capital);
Define and implement the process enabling to secure the undertaken risks (risk appetite, assets accumulation, longevity, natural catastrophe...);
Optimize the Group protections (reinsurance, securitization, hedging, etc.) to meet the desired strategy.
Within this Department, you will be part of the Risk Modelling and Reporting team. The Risk Modelling and Reporting (RMR) team is based in Winterthur (CH) and Madrid (ES) and is responsible for setting up the methodology and ensure the regular calculations of the Market and Credit risk and the aggregation across all risk categories, both for the internal model as well as for the standard formula under Solvency II. Furthermore, the RMR team is responsible for the generation for risk-neutral scenarios and the methodology for replicating portfolios.
YOUR ROLE AND RESPONSABILITIES:
JOB PURPOSE
The Credit Risk Analyst is in charge of the maintenance, development, justification and validation of the credit risk model for the AXA group and for the operating entities. He/she is also responsible for the regular credit risk calculations at Group level according to the Solvency II requirements, as well as any ad-hoc estimations.
DIMENSION
Total Market & Credit risk Solvency Capital Requirement amounts to about
30 bn EUR
28 operating entities involved in STEC process
More than 100 people involved in Market and Credit risk STEC calculation across AXA Group
CONTEXT AND MAJOR CHALLENGES
AXA Group has chosen to develop its own internal model (STEC) to ensure the computation of its solvency in the Solvency II framework. Market and credit risks are two of the main risks assessed within the internal model.
Credit Risk accounts for the risk of insolvency stemming from AXA’s counterparties.
KEY ACCOUNTABILITIES:
Develop, enhance and maintain the current credit risk methodology and related documentation
Provide the entities with the Credit Risk Tool for the calculation of the solvency required capital
Perform the model parameters update, assessing the related impact
Perform the back testing to assess the adequacy of the model
Perform validation studies and sensitivity analysis on the model to be presented to the STEC working group and the Solvency II steering committee
Support local entities for the calculation of the Credit risk
YOUR PROFILE
MAIN COMPETENCIES AND EXPERIENCES
Hard skills
Strong knowledge of Solvency II framework and regulation
High insurance and financial risk management awareness
Financial and actuarial risks modelling abilities
Deep knowledge of the financial theory
Strong IT and software development skills (Python, VBA, SQL, R)
Soft skills
Ability to work in a multi-cultural environment
Strong interpersonal and communication skills (writing / speaking)
Fluent in English
Ability to represent AXA’s Group in front of operating entities
Ability to take initiative and communicate effectively with management
From 1 to 3 years of experience in financial risk modelling
WHY JOIN US
You will join:
A responsible company, towards people, including its employees and customers, and towards the planet
A company with strong values
A company promoting internal mobility and the training of its employees
A company offering many benefits (learn more here: Reward & Benefits | AXA Group )
A flexible company, allowing hybrid work, in the office and from home.
In line with our commitments, we celebrate each new hire by taking action for global reforestation: we plant a tree for every recruitment. So, are you ready to apply?
At AXA we actively promote Diversity and Inclusion by offering equal opportunities. Possession of a Disability certificate will be positively valued.
What are you waiting for? Join the AXA family and contribute to the progress of society!