Senior Risk & Actuarial Controller - P&C

Location MADRID, Spain
Experience level Experienced Hire
Job details sector Property & Casualty Insurance
Apply before Date not available

Mission – Job purpose

The Internal Model Review (IMR) team is an internal risk and actuarial controlling activity created in the context of Solvency II application. It has the following objectives:
- Provide a gap analysis on the compliance of local entities’ practices with Group’s instructions and/or with Solvency II principles.
- Provide AXA Group’s management with an appropriate level of comfort on the quality and adequacy of solvency II metrics reported by entities.
- Ensure the consistency of local methodologies, processes and tools used across entities.
- Contribute to the improvement of the metrics by sharing best practices.
The team is structured in four main areas:
- Assets & ALM standards, Market & Credit Risks,
- Liabilities standards, Best Estimates and Life Risks,
- P&C and Operational Risks,
- Life modeling standards and process.
The open position is within the P&C risks standards team.
The candidate will be responsible, within the P&C team, for conducting the reviews of the P&C risks assessed by the entities with the objective of delivering conclusive reports with relevant and documented observations and a list of recommendations.
The candidate will take the direct ownership of some P&C reviews for some entities.
The outputs of the reviews will be summarized in detailed reports, including findings and prioritized recommendations, which will be presented to the top management (Local and Group CFOs / CROs), and provided to auditors / regulators.
In terms of scope and responsibilities, the IMR work plan is designed to cover all entities / all risks at least every 3 years. Therefore, after only a few years, the candidate will have developed a unique and full knowledge about the P&C models of all the entities of the AXA Group (best practices, shortfalls and limitations).
Short-term business trips in the entities (“on-site reviews”) are part of the mission.

 

 

Main Activities:

The main missions consist on:
1. Conducting the review (e.g. animation of the discussions during the on-sites)
2. Performing quantitative and qualitative tests and controls
3. Ensuring consistency of local practices versus Solvency 2 principles and Group’s guidelines
4. Delivering a narrative report summarizing the conclusions of all work streams
5. Doing the follow-up of previous recommendations

Profile

Education:
Educated with a master degree or equivalent.
Financial mathematics, statistics and/or actuarial studies.
Experience:
More than 5 years practical experience in P&C risk management or P&C technical department, or in an actuarial consulting firm.
Good knowledge of :
- Solvency 2 principles, notably P&C risks modules.
- P&C reserving technics and P&C business analysis.

 

 

- AXA’s internal model (STEC) (valuable).
Tools:
- Good knowledge of AXA Group Internal model tools (valuable).
- Good knowledge of P&C actuarial tools (e.g. Remetrica) would be a plus.
- MS Office (Excel, Word, PowerPoint).
Interpersonal skills:
- Capacity to challenge local entities and to ensure the correct application of Group’s standards / guidelines.
- Ability to fully work in English (conducting meetings and interviews, writing analyses and reports).
- Capacity to write detailed technical reports, and to summarize findings/recommendations through a few slides.
- Attraction for short-time travels in the entities of the AXA Group (worldwide).
- Appetite for international environments. 

 

 

 


Mission – Job purpose

The Internal Model Review (IMR) team is an internal risk and actuarial controlling activity created in the context of Solvency II application. It has the following objectives:
- Provide a gap analysis on the compliance of local entities’ practices with Group’s instructions and/or with Solvency II principles.
- Provide AXA Group’s management with an appropriate level of comfort on the quality and adequacy of solvency II metrics reported by entities.
- Ensure the consistency of local methodologies, processes and tools used across entities.
- Contribute to the improvement of the metrics by sharing best practices.
The team is structured in four main areas:
- Assets & ALM standards, Market & Credit Risks,
- Liabilities standards, Best Estimates and Life Risks,
- P&C and Operational Risks,
- Life modeling standards and process.
The open position is within the P&C risks standards team.
The candidate will be responsible, within the P&C team, for conducting the reviews of the P&C risks assessed by the entities with the objective of delivering conclusive reports with relevant and documented observations and a list of recommendations.
The candidate will take the direct ownership of some P&C reviews for some entities.
The outputs of the reviews will be summarized in detailed reports, including findings and prioritized recommendations, which will be presented to the top management (Local and Group CFOs / CROs), and provided to auditors / regulators.
In terms of scope and responsibilities, the IMR work plan is designed to cover all entities / all risks at least every 3 years. Therefore, after only a few years, the candidate will have developed a unique and full knowledge about the P&C models of all the entities of the AXA Group (best practices, shortfalls and limitations).
Short-term business trips in the entities (“on-site reviews”) are part of the mission.





Main Activities:

The main missions consist on:
1. Conducting the review (e.g. animation of the discussions during the on-sites)
2. Performing quantitative and qualitative tests and controls
3. Ensuring consistency of local practices versus Solvency 2 principles and Group’s guidelines
4. Delivering a narrative report summarizing the conclusions of all work streams
5. Doing the follow-up of previous recommendations



Profile

Education:
Educated with a master degree or equivalent.
Financial mathematics, statistics and/or actuarial studies.
Experience:
More than 5 years practical experience in P&C risk management or P&C technical department, or in an actuarial consulting firm.
Good knowledge of :
- Solvency 2 principles, notably P&C risks modules.
- P&C reserving technics and P&C business analysis.







- AXA’s internal model (STEC) (valuable).
Tools:
- Good knowledge of AXA Group Internal model tools (valuable).
- Good knowledge of P&C actuarial tools (e.g. Remetrica) would be a plus.
- MS Office (Excel, Word, PowerPoint).
Interpersonal skills:
- Capacity to challenge local entities and to ensure the correct application of Group’s standards / guidelines.
- Ability to fully work in English (conducting meetings and interviews, writing analyses and reports).
- Capacity to write detailed technical reports, and to summarize findings/recommendations through a few slides.
- Attraction for short-time travels in the entities of the AXA Group (worldwide).
- Appetite for international environments.









As one of the largest global insurers, our purpose is to empower people to live a better life. This purpose is shared by each and every employee throughout our organization, as we tailor our services and solutions to each of our 107 million customers around the world, one person at a time.

You are the starting point for all our work. We strive to give you more choice, more innovation and more power to decide how, when and where you access our products and services, while making sure we provide excellence, quality and a strong financial foundation for everything we deliver, at the right cost to you.
GIE AXA SUCURSAL EN ESPAÑA is a branch of GIE AXA (Group’s headquarters) located in Spain. The entity is hosted in AXA's facilities in Madrid, but is fully independent from other Spanish entities. The Internal Model Review (IMR) department, the biggest department of the branch, directly reports to Group Risk Management (GRM) and in Paris.

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