PstrongYour work environment /strong: /ppbr/ppWithin GIE AXA, a branch of the Group headquarters located in Spain. 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: /ppbr/pulliProvide a gap analysis on the compliance of local entities’ practices with Group’s instructions and/or with Solvency II principles. /liliProvide AXA Group’s management with an appropriate level of comfort on the quality and adequacy of solvency II metrics reported by entities. /liliEnsure robustness and consistency of local methodologies, processes and tools used across entities. /liliContribute to the improvement of the models and risks metrics by tracking potential errors and sharing best practices. /li /ulpbr/pp The team is structured in five different areas: /pulliAssets ALM standards, Market Credit Risks, /liliLiabilities standards, Best Estimates and Life Risks, /liliPC Risks, /liliOperational Risks, /liliIFRS17. /li /ulpbr/ppstrongYour Mission: /strong /ppbr/ppAs part of IMR team, the candidate will participate in in-depth reviews of the Internal Model among AXA entities. The candidate will be responsible for performing detailed analysis on the Internal Model, focusing on assets and ALM projected cash flows in Life products. /ppThe candidate will also participate in the analysis of Market, Credit and Aggregation risks, ensuring the alignment between the local practices and the Group requirements. Recently, the scope of the activities of the team has been extended to the review of the Group models. /ppbr/ppstrongKey accountabilities: /strong /ppbr/pulliAnalysis of the Assets and ALM projection in the DFA (Dynamic Financial Analysis) model for Life business. Focusing on: /liliAssets projection: Assets model points; Simulations on Risk Neutral environment (Market value evolution, Market consistency adjustment); Projection of different components of investment income; Investment fees. /liliDetailed analysis of the implementation in the Internal Model of the main ALM strategy components: Investment Strategy and Strategic Assets Allocation; Profit sharing; Management actions; Time Value Options analysis. /liliReviewing Market and Credit risk Capital models for Life and PC businesses as well as the Aggregation methodology for the different sub-risk streams. Analysis of scope and local calibrations produced by the entities. /liliConduct technical discussions with the local entities. /liliImplement a regular update of the team methodology, suggesting improvements and designing new tests. /liliParticipation on regular follow-ups with the reviewed entities. /liliContribute to Group Risk Management transversal work streams. /li /ul pstrongQualifications: /strong /ppbr/ppstrongEducation: /strong /pulliGrade in Financial Mathematics/Engineering, statistics and/or Actuarial Studies /liliLanguage: English advanced (Proficiency or similar) /li /ulpbr/ppbr/ppstrongExperience: /strong /pulliDesirable 3- 5 years’ experience in related positions. Ideally with an actuarial background, or a past in a risk management department or actuarial valuation team/audit function. /liliGood knowledge of financial risks risk model principles /liliGood knowledge of Life insurance business with a focus on: /liliSolvency 2 principles. /liliAssets/ALM projections and Market Credit risks valuation /liliRisks identification and measurement frameworks. /liliCapital Risk Model i.e. Internal model (Valuable). /liliIdeally have exposure to internal models in insurance entities, notably on DFA tools (e.g. RAFM, Prophet, R3S, Sunrise, etc) including: /liliRisk neutral / Real world Scenarios. /liliInsurance accounting and other regulatory environments. /liliEligible Own Funds (EOF) framework. /liliModel Valuation of various asset classes (e.g. securities, corporate bonds, derivatives, alternative assets) /liliExperience with the use of VBA valuation tools, and familiarity with programming in languages like C++, Python or R for data manipulation, and risk analysis. (Valuable) /li /ulpbr/ppbr/ppAt AXA we actively promote Diversity and Inclusion by offering equal opportunities. Possession of a Disability certificate will be positively valued. /ppbr/ppWhat are you waiting for? Join the AXA family and contribute to the progress of society! /p