Internal Model Reviews IMR PC actuarial analyst
Internal Model Reviews IMR PC actuarial analyst
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Job Description
Our business: protection. We protect people property and assets.
Our purpose: Act for Human Progress by protecting what matters.
Does this speak to you Then come and join 149000 future colleagues who are committed to our 95 million clients in 50 countries around the world every day.
Your work environment
The headquarters of the AXA Group (GIE AXA) brings together our corporate activities. It provides guidance and support to subsidiaries around the world in order to ensure the coordination and monitoring of the Groups global strategy the application of its standards the consistency of commercial approaches and the sharing of best practices.
The headquarters of the AXA Group (GIE AXA) brings together our corporate activities. It provides guidance and support to subsidiaries around the world in order to ensure the coordination and monitoring of the Groups 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.
AXA is built around diversity and unity which is why we are committed to promoting collective success through inclusion.
GIE AXA SUCURSAL EN ESPAA is a branch of GIE AXA (Group headquarters) located in Spain. The entity is hosted in AXAs facilities in Madrid but is fully independent from other Spanish entities. The Internal Model Review (IMR) department the biggest department of the branch reports directly to Group Risk Management (GRM) and PBRC in Paris.
This job is based in Madrid only
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 instructions and/or with Solvency II directives.
Provide AXA Groups 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 main missions :
Review the local deployment of P&C Group model structure (Harp Remetrica)
Review the local calibration of the model.
Check the exhaustiveness of modeled business.
Review the reconciliation exercise.
Statistical quality tests calibration tests ensuring that the fitted parameters represent the risk reflected in the historical data taking into account trends and outliers (statistical tests and back testing of result distributions review evidence of fit tests) for parameterization of losses pricing inflation and reserve volatilities.
Back testing stress testing mirror modeling to sense check IM outputs
Conclusion on a suitability assessment of the P&C Group model to local specificities in a written report to be completed by action plan from the entity.
Review of the local Cat modeling including challenge the data used the Cat projection factor and the robustness of approach.
Review local reinsurance treaties in order to check the appropriateness and exhaustiveness of the modeling.
Review the granularity of the modeled lines of business.
Express a second opinion on Group model changes that impact P&C risks.
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
- A flexible company allowing hybrid work in the office and from home.
The information provided by applicants will be treated as strictly confidential and used for recruitment purposes only.
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 worlds leading insurers in the protection of property people and assets AXA is 145000 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 profile and skills
Educated with a Master Degree
Financial Mathematics Statistics and/or actuarial studies.
Experience:
34 years practical experience in the P&C area of a Risk Management or Technical departments or in an actuarial audit firm.
Good knowledge of :
Solvency 2 principles notably P&C risks modules
P&C reserving technics and P&C business analysis
AXAs internal model (STEC) (valuable)
Programming (coding)
IFRS17.
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:
Ability to conduct interviews in English.
Capacity to challenge local entities and to ensure the correct application of groups standards / guidelines.
Capacity to write in English detailed reports and/or to summarize findings/recommendations through a few slides.
Attraction for shorttime travels in the entities of the AXA Group.
The headquarters of the AXA Group brings together the Groups corporate activities. It is distinguished by its strong international culture.
Required Experience:
IC
Employment Type
Full-Time
