FR; MADRID
- RISK MANAGEMENT
- 10536
- MEDIATRICE MUSABIMANA
**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!
**YOUR ROLE AND RESPONSABILITIES**:
- Within GIE AXA, Internal Model Review (IMR) team is part of Group Risk Management. The team was created to provide an independent opinion to the regulator and to the board of directors on the compliance and consistency of our Internal Model with Solvency II directives. IMR has the following objectives:
- Provide the AXA Group’s top management with an appropriate level of comfort on the quality and the adequacy of the risk’s models used by the Group and by the local entities to assess the required capital.
- Ensure the robustness and the consistency of the methodologies, processes and tools used across the Group for the risks assessment.
- Contribute to the improvement of the models and risks metrics by tracking potential errors and sharing best practices.
- The IMR team is structured in different areas:
- Assets & ALM model standards, Market & Credit Risks,
- Liabilities standards, Best Estimates and Life Risks,
- P&C; Risks,
- Operational Risks,
- IFRS17.
- Historically, the IMR team was only focused on the local entities. Recently, the scope of the team was extended to also cover the models run and developed at Group level. This recruitment takes place in the context of this extension of the missions of the team. Don´t lose this opportunity to join a team that keeps growing, with a large diversity of topics.
**Your Mission**:
Key accountabilities:
- Develop a methodology to review the Group´s models, with a similar approach to what is done currently with the local entities.
- Analyse the BEL calculations of the Life business, including assets/liabilities projections, ALM interactions, best estimate assumptions.
- Review of the codes of the models and challenge of the modelling approaches.
- Conduct technical meetings with the experts from the Group and from the local entities and deploy the testing procedures.
- Write technical reports summarizing the main deficiencies and areas of improvement identified and present the conclusions to the risk owners and to the top management.
- Ensure the appropriate implementation of the remediation plans and the model changes, both at local and Group levels.
- Participate to the governance around the validation of the Internal Model (S2 committees, STEC working groups, experts’ communities, technical workshops, etc).
**This role is based in Madrid.**
**YOUR PROFILE**:
**Education**:
- Degree in financial mathematics, engineering, statistics and/or actuarial sciences (ideally with an IT component around the analysis of codes/algorithms)
- Experience:
- Minimum 3-4 years in an investment / actuarial or risk management department or actuarial consulting.
- Experience with programming languages as developer notably with Python and R. Knowledge of other programming languages such as VBA and C is desirable.
- Experience with Dynamic Financial Analysis (DFA) models is appreciated.
- Good knowledge of Solvency 2 principles
- Insurance accounting and regulatory frameworks
- Risk neutral environment applied to Solvency 2
- Risks identification and risks measurement processes
- Eligible Own Funds (EOF) and Solvency Capital Requirements (SCR)
- Ideally, exposure to Internal Models at AXA or in other insurance Groups
- Good knowledge of the life & financial models:
- Life business valuation techniques, including DFA tools (e.g. ALM models, Moses/Risk Agility, Prophet, Sunrise, etc.)
- Life risks & Financial risks assessment (Lee-Carter for longevity, CAT mortality & pandemic models, Monte Carlo simulations, replicating portfolios, credit risks tools, etc)
- IT related skills, if possible: analysis of codes, detection of errors in the models
- Soft skills
- Multicultural mindset and ability to work in transversal multinational team.
- Pro-active and autonomous.
- Ability to conduct interviews in English.
- Capacity to write in English detailed reports, and/or to summarize findings/recommendations.
- Good analytics and formalization skills.
- Appetite for short time travels throughout the AXA Group.
**THIS ROLE IS BASED IN MADRID.**
**WHY JOIN US**:
You will join:
- A responsible company, towards people,