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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, 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.

Context

AXA Group Risk Management Property & Casualty (GRM P&C) deals with the most sophisticated P&C technical and actuarial challenges of a leading international insurance company, among which the management of natural catastrophe risks (CAT). Natural variability of climate and seismic activity have demonstrated their devastating potential, climate change bringing additional uncertainty for the future. AXA’s rapid expansion over the last years – both in terms of geographical footprint and P&C insurance offer – widely exposes AXA to natural perils, being in charge of the financial protection of its clients. In this context, AXA must maintain state-of-the-art CAT risk management techniques through permanent innovations.

AXA GRM brings together high level and multidisciplinary staff with engineers, PhDs, actuaries, data scientists and financials split between Paris, Hong Kong, Zürich and Madrid. Its main missions are focused on the following key areas:

• develop and maintain models and tools in an efficient and strong IT ecosystem to industrialise deliverables;
• 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.

Job Summary

Position belongs to the Group Risk Management P&C CAT and Reinsurance team (21 FTE) which is organized in several excellence centers: CAT R&D Modeling, Data Analytics, Accumulation Management and Reinsurance. As part of AXA’s Internal Model under the Solvency II framework, the CAT and Reinsurance teams are primarily in charge of delivering the annual CAT modeling process, consisting of:

• Collecting CAT exposure data (geographical, physical and financial information) on a per-entity (AXA France, AXA Mexico, AXA Philippines…) and per-location basis (houses, factories, vehicles etc.);
• Assessing the risk on a per-entity per-peril basis (cyclones, earthquakes, floods, hailstorms...) which feeds the whole downstream chain locally (pricing, budgets, reinsurance decisions, capital modeling);
• Estimating the efficiency of the Group Reinsurance covers;
• Developing in-house models, methodologies and applications to support the CAT risk monitoring.

The CAT modelling process has strong strategic and operational impacts since it feeds AXA Economic Capital internal model, the Economic Combined Ratio and NAT CAT budget calculations which drives the earnings and the solvency position of AXA Group. It and determines adequate levels of reinsurance needs, which may boost or hinder profitability. It is also a technical challenge with the data collection of 25+ millions of complex and worldwide policies covering 50+ millions risks, the parallel use of multiple modeling solutions including both physics and machine learning techniques, and finally the assessment of almost 190 country x peril levels of risk. Going beyond the use of external solutions, AXA Group develops its own suite of CAT models. The models are nested in a global and robust workflow, largely automated and auditable. In addition, leveraging this Group knowledge and expertise for the business, the team has been developing actuarial frameworks and powerful GIS solutions to diffuse CAT model result data, provide CAT technical pricings, alert and assess live event impacts across the world.

The CAT Quality control & Governance officer will play a strong role to ensure the quality, control and validation of the products with a strong transversal connection between the operational teams, diverse Group functions (IT departments, Enterprise Risk Management, …), AXA entities and regulators. The CAT Quality control & Governance officer will have to revamp the CAT governance involving AXA entity expertise to evaluate and validate the models which feed the AXA internal model, implement innovative tests and controls to ensure the accuracy and traceability of data, be proactive and innovative in the continuous development of new functionalities, best-practices, and the systematic look for efficiency gains.

Position Responsibilities

• Implement innovative tests and controls to verify, evaluate and validate the models
  • Lead and implement best-practices and methodologies to test, evaluate and validate CAT models.
  • Leverage data analytics, CAT developer and IT expertise to design analysis and automatic tests of sophisticated models with a large volume of data.
  • Revamp the CAT governance with the involvement of both Group and entity expertise.
  • Participate in the building of a powerful and efficient IT ecosystem.
  • Interpretation and effective communication of technical analysis.
  • Support the audit reviews and regulator requests.
  • Evolve in the regulation environment (Solvency II, GDPR): produce technical documentation, adopt best knowledge management practices and make sure governance standards and Group recommendations are followed at Group and entity levels.
•  Assess CAT risks borne by AXA operational entities (CAT Process)
  • Provide a technical support to local entities around the collection of their P&C exposure data.
  • Assess CAT risks (cyclones, earthquakes, floods, hailstorms) associated to these exposures using dedicated catastrophe modelling tools.
  • Deliver an AXA view of the gross risk for several entities enabling them to purchase adequate reinsurance in line with their risk appetite.
• Infuse, diffuse and leverage CAT expertise
  • Support the P&C risk assessment related to CAT risks (Live Event Analysis, Parametric insurance, Real Disaster Scenarios).
  • Support business development and profitability within AXA P&C entities by diffusing operational solutions consistent with the most up-to-date scientific assessment of the hazard and risk.
  • Participate in the Group’s response to climate risks and their evolutions, within its corporate responsibility framework.

Vous rejoignez une entreprise :

-    Responsable, vis-à-vis des personnes, y compris ses employés et ses clients, et de la planète. -    Aux valeurs fortes-    Qui encourage la mobilité interne, et la formation de ses employés-    Qui vous offre de nombreux avantages (en savoir plus ici : Reward & Benefits - french | AXA Group)-    Flexible, qui permet le travail hybride, au bureau et à la maison.

Les informations fournies par les candidat(e)s seront traitées de manière strictement confidentielle et utilisées uniquement à des fins de recrutement.

The candidate will have a solid project management background and analytical skills together with strong inter-personal skills allowing him / her to evolve in a highly exposed and international environment.

• Professional and technical skills
  • Master’s Degree/Engineer in in relevant field (natural hazards, actuarial science, mathematics & informatics);
  • Model evaluation and validation;
  • Data treatment skills: collection, transformation, mining and quality assesment;
  • Strong interest in Climate Change and Natural Hazard science;
  • Interest in the business fields related to (re)insurance;
  • Motivated by an international and dynamic environment;
  • French and Business English – fluent (spoken and written);
  • 5-10 years’ experience in one of the relevant fields.
•  Interpersonal skills
  • Project Management / Team work;
  • Excellent relationship with diverse and technical departments;
  • Strong communication skills (French and English);
  • Analytical skills;
  • Autonomy.