CDD - Savings and Customer Behaviors analyst

Job description

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Whatever their stage of life, we provide over 108 million customers with the products and services they need to progress. From insurance to personal protection, and savings to wealth management, no matter the need we’re always there for them. And we’re always there for our employees. In 50 countries, we work hard to inspire pride and a sense of belonging in our people. To provide opportunities that challenge them, inspire them, and reward them. And to create a culture that’s open, supportive, and empowering. Because we know that’s the real secret to success – and the best way for us to keep building a better world for both our customers and the talented people who put them first.

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.

Job purpose

Review, monitor and control of risks related to Savings business underwritten by AXA’s entities. Participate to the definition of the adequate indicators/metrics for underwriting business decision, provide 2nd Opinion on credited rates and savings PAP (when needed). Validate the modeling and the calculation of Solvency Required Capital for Savings risks (Lapses, OCB, Mass Lapse, Expense), participate to review of entities (In-Depth Review) with respect to Savings business, and review the 2nd Opinion on Reserves (Flash Process). Coordinate the value for customer monitoring.

Dimensions

• As of FY23, Savings activities represent 23bn€ of Gross Written Premium.
• In terms of risks, the Solvency Capital required for Lapses, Other Customer Behavior and Expenses sums up to 8bn€
• At least 12 Major Life internal model entities are exposed to these risks

Context & Major challenges

As a risk manager, the Savings and Customer Behavior analyst is both an active controller of local teams’ activities and a business partner. The position requires both strong modeling capacities to correctly measure the risk (profitability, reserves, required capital) but also good business knowledge to provide valuable business 2nd Opinion on credited rates and underwriting processes (PAP).

Key accountabilities

• Internal Model (STEC):
  • Maintain and Improve the Internal Model for savings risks, including the group modeling for Mass Lapse.
  • Validate yearly Solvency 2 Internal Model figures computations for savings risks (5 savings risks x 12 entities), including local calibrations, STEC clearance meetings, analyzing and validating the results and contributing to the Group validation report and Group ORSA process.
  • Contribute to auditors (internal and external) and regulators’ exchanges on savings risks.
• Product approval Process for savings products
  • Participate to the savings PAP process and ensure their consistency with the Group risk management strategy (Customer focus, decrease the share of financial STEC, increase the share of profitability coming from technical or expense margins…)
  • Consider the impact of new regulations and ALM issues on the savings PAP.
  • Support the entities to implement the Group risk management requirements.
  • Ensure the savings PAP process is well respected.
  • Give a second opinion on the savings products failing to meet group requirements.
• Transversal initiatives
  • Contribute to the definition of the ECR metric.
  • Contribute to the Conduct Framework through the definition and analysis of customer value metrics.
• Risk monitoring
• • Review the local 2nd Opinion on Savings reserving through the Flash Process and In-Depth reviews.
  • Provide a 2nd Opinion on Savings Reinsurance deals.
  • Provide a 2nd Opinion on Savings Crediting rates strategy.
  • Participate to the 2nd Opinion on Savings Strat Plan.

Desired profile

Qualifications :

Technical and professional skills :

·  Excellent knowledge of financial markets. Strong statistical, actuarial and modeling skills.
·  Good knowledge of Asset and Liability Management techniques for Insurance Companies.
·  Knowledge of SII framework.
·  IT skills include R, VBA.
·  Fluent written and spoken English, another language (Spanish, German…) is a plus.

Soft skills and competencies :

·  Ability to work with a team in a multicultural environment.
·  Ability to lead working groups and projects, work in project mode.
·  Ability to communicate with various stakeholders (Management Committee, Life CROs, actuarial experts, ACPR, internal/external auditors), and write reports destined to AXA Group and AXA entities’ Top Management.
·  Demonstrate accuracy, quality and timeliness of deliverables.
·  Be organized, autonomous, have a sense of responsibilities.
·  Be innovative and flexible, show ability to listen and pragmatism.

Background and experience :

·  Major in statistics, actuarial sciences, finance, Master (BAC+5) or PhD, university or “Ecole”, data science.