P%26C STEC Process Officer

ABOUT AXA

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.

Within the Group, you will join the Group Risk Management department. Within this department, you will be part of the P&C Internal model team.

JOB PURPOSE

Your job and daily missions:

Lead P&C Short Term Economic Capital (STEC) process under Solvency II framework:

1. Establish the risk assessment framework to be followed by the entities
2. Monitor the delivery of the IT tools to be used by the entities
3. Control, validate and consolidate the P&C STEC results communicated to the top management
4. Ensure the approval of the internal model evolutions.

Context and Major Challenges:

Following the acquisition of XL Group, AXA has transformed into a major P&C-oriented company, with the P&C Group STEC increasing from €7.1 billion to €10.7 billion, now accounting for 40% of the total Group SCR. Key challenges include enhancing insights into the company’s risk profile to aid management in balancing risk and return, developing and maintaining risk calibration for internal models, and communicating effectively with top management.

The P&C ECR metric is vital for aligning risk management, finance, and underwriting departments. The main focus is to unify perspectives across departments, guiding management on underwriting strategies and identifying growth areas.

Additionally, the P&C STEC process team serves as a crucial coordination point among various stakeholders, striving to maintain collaboration, streamline information across processes, and align departmental expectations within the Group's strategic framework.

KEY ACCOUNTABILITIES

P&C STEC calculation process:

1. Organize the P&C STEC calculation process, set the appropriate timeline and instructions. Ensure the compliance of the model changes with the S2 governance.
2. Develop and manage a control and validation process of operational entities’ results to ensure homogeneous application of Group instructions
3. Control, validate, analyze, consolidate, and report to the management the P&C STEC results
4. Manage the external audit and regulators reviews
5. Develop the full set of documentation (STEC process description, technical documentation, and validation and ORSA reports) and ensure it remains updated

IT:

1. Organize the IT deliveries to ensure the P&C STEC calculation process and the implementation of the model changes
2. In coordination with AGO: set the appropriate timeline and validate the quality of the deliveries

Let’s talk about you:

MAIN COMPETENCIES AND EXPERIENCES

Technical and Professional skills:

1. Around 5 years experience in P&C actuarial/finance fields
2. Strong knowledge of the Solvency II Directive
3. Strong knowledge of the P&C Business
4. Knowledge on IT project management and R/Python/Remetrica

Soft skills:

1. Proficiency in English is mandatory
2. Strong leadership and organizational skills
3. Strong communication skills