Financial Risks Validation Analyst – Internal Model Review (Madrid)

Société : AXA
Lieu : Paris (Île-de-France)

Descriptif du poste

Société : AXA
Catégorie : Stage
Filiere : Finance d'entreprise compta / gestion
Lieu : Paris (Île-de-France)

Mission

Notre métier, protéger les personnes, les biens et les actifs.  Notre raison d’être, agir pour le progrès humain en protégeant ce qui compte. Cela vous parle ? Alors venez rejoindre 149 000 futurs collègues qui s’engagent au quotidien auprès de nos 95 millions de clients dans 50 pays à travers le monde.  Votre environnement de travailLe siège social du Groupe AXA (GIE AXA) regroupe nos activités corporate. Il assure le pilotage et le support des filiales dans le monde, afin de garantir notamment la coordination et le suivi de la stratégie globale d’AXA, l’application de ses standards, la cohérence des approches commerciales, et le partage des meilleures pratiques. Le siège est composé d’environ 1000 employés et se distingue par sa forte culture internationale (45 nationalités), ce qui en fait un espace de travail riche et stimulant.C’est autour de la diversité et de l’unité que se construit AXA, c’est pourquoi nous nous engageons à promouvoir le succès collectif par l’inclusion.<a name="_Hlk167878105"></a>GIE AXA SUCURSAL EN ESPAÑA is a branch of GIE AXA (Group 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, is part of Group Risk Management. The team was created to provide an independent opinion to the regulator and to the board of directors on the compliance and consistency of our Internal Model with Solvency II directives. IMR has the following objectives: <o:p></o:p><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Provide a gap analysis on the compliance of local entities’ practices with Group’s instructions and/or with Solvency II principles. <o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Provide AXA Group’s management with an appropriate level of comfort on the quality and adequacy of solvency II metrics reported by entities. <o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Ensure the consistency of local methodologies, processes and tools used across entities. <o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Contribute to the improvement of the metrics by sharing best practices.<o:p></o:p></li></ul>Your Mission:<o:p></o:p>As part of IMR team, the candidate will participate in in-depth reviews of the Internal Model among AXA entities. The candidate will be responsible for performing detailed analysis on the Internal Model, focusing on assets and ALM projected cash flows in Life products. <o:p></o:p>The candidate will also participate in the analysis of Market, Credit and Aggregation risks, ensuring the alignment between the local practices and the Group requirements. Recently, the scope of the activities of the team has been extended to the review of the Group models.<o:p></o:p>Key accountabilities:<o:p></o:p><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Analysis of the Assets and ALM projection in the DFA (Dynamic Financial Analysis) model for Life business. Focusing on:<o:p></o:p></li><ul type="circle"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo1; tab-stops: list 72.0pt; background: white;">Assets projection: Assets model points; Simulations on Risk Neutral environment (Market value evolution, Market consistency adjustment); Projection of different components of investment income; Investment fees.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo1; tab-stops: list 72.0pt; background: white;">Detailed analysis of the implementation in the Internal Model of the main ALM strategy components: Investment Strategy and Strategic Assets Allocation; Profit sharing; Management actions; Time Value Options analysis.<o:p></o:p></li></ul><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Reviewing Market and Credit risk calculation for Life and P&C businesses as well as the Aggregation methodology for the different sub-risk streams. Analysis of scope and local calibrations produced by the entities.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Conduct technical discussions with the local entities.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Implement a regular update of the team methodology, suggesting improvements and designing new tests.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Participation on regular follow-ups with the reviewed entities.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; background: white;">Contribute to Group Risk Management transversal work streams. </li></ul>
Qualifications<o:p></o:p><a name="_Hlk167878271"></a>Education:<o:p></o:p><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; background: white;">Grade in Financial Mathematics/Engineering, statistics and/or Actuarial Studies<o:p></o:p></li></ul><a name="_Hlk167878284"></a>Experience:<o:p></o:p><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Minimum 2 years practical experience in Investment and/or Risk Management department, in an Actuarial/Valuation team, or in an actuarial audit function.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;"><a name="_Hlk167878327"></a>Good knowledge of financial risks risk model principles<o:p></o:p></li></ul><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Good knowledge of Life insurance business with a focus on:<o:p></o:p></li><ul type="circle"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">Solvency 2 principles.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">Assets/ALM projections and Market & Credit risks valuation<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">Risks identification and measurement frameworks.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">AXA’s internal model (STEC) (Valuable).<o:p></o:p></li></ul><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Ideally have <a name="_Hlk167878567"></a>exposure to internal models in insurance entities, notably on DFA tools (e.g. RAFM, Prophet, R3S, Sunrise, etc) including:       <o:p></o:p></li><ul type="circle"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">Risk neutral environment for Solvency 2 reporting. <o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">Insurance accounting and other regulatory environments.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">Eligible Own Funds (EOF) framework.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level2 lfo2; tab-stops: list 72.0pt; background: white;">Model Valuation of various asset classes (e.g. securities, corporate bonds, derivatives, alternative assets)<o:p></o:p></li></ul></ul><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Experience with the use of VBA valuation tools, and familiarity with programming in languages like C++, Python or R for data manipulation, and risk analysis. (Valuable)<o:p></o:p></li></ul>Soft skills<o:p></o:p><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Multicultural mindset and ability to work in transversal multinational team.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Pro-active and autonomous.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Ability to conduct interviews in English.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Capacity to challenge local entities and to ensure the correct application of Group standards / guidelines.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Capacity to write in English detailed reports, and/or to summarize findings/recommendations through.<o:p></o:p></li><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;"><a name="_Hlk167878521"></a>Good analytics and formalization skills.<o:p></o:p></li></ul><ul type="disc"><li class="MsoNormal" style="color: #333333; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto; line-height: 16.3pt; mso-list: l0 level1 lfo2; tab-stops: list 36.0pt; background: white;">Attraction for short time travels in the AXA Group entities.</li></ul> 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 : <a href="https://careers.axa.com/fr/fr/reward-benefits-french">Reward & Benefits - french | AXA Group</a>) -    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.
Notre raison d’être chez AXA ? Chaque jour, nous agissons ensemble pour le progrès humain en protégeant ce qui compte. Une mission qui donne le sourire et envie de se lever le matin !<o:p></o:p>Un des leaders mondiaux de l’assurance dans la protection des biens, des personnes et des actifs, AXA c’est 145 000 collaborateurs et contributeurs qui s’engagent au quotidien pour nos clients, c’est 51 pays dans lesquels nous distribuons nos produits et services et plus de 90 millions de client qui nous font confiance dans le monde.  Employeur citoyen et responsable, AXA s’engage au quotidien pour des causes sociétales & environnementales. Nous menons une politique inclusive engagée pour reconnaître et valoriser les différences individuelles. Ces ambitions vous parlent ? Alors venez changer le monde avec nous ! Le siège du Groupe AXA regroupe les activités corporate du Groupe. Il se distingue par une forte culture internationale.

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