Life & Health Senior Actuary - (M/F)

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

The Group L&H Actuarial team is part of the Group Finance/ Group Performance Management department, and has the following missions:

• Support the Group and its entities in setting, monitoring, and delivering ambitious financial performance to be achieved through sustainable levers and adequate actuarial practices.
• Fullfill the regulatory role of the Actuarial Function, i.e., to provide an opinion on reserving, underwriting and reinsurance.

The senior L&H Actuary contributes to those missions and participates in building a transversal view on actuarial topics of a given geography while facilitating the relationship/exchanges with entities and the other Group teams.

Key accountabilities

Performance

• Work with the Controlling team on the forecasting financial processes (budget/ strategic plan/ MBR) to (i) set/track the ambitions, (ii) understand the underlying business growth and profitability/cash in IFRS17/Solvency 2 (e.g., new business CSM and payback period, Earnings, Return on Equity), and (iii) define the required actions/steer the business (e.g., repricing, business mix change, credited rate management, reinsurance). To do so, the Group L&H Actuarial team is notably in charge of:
  • (i) Defining methodology/profitability metrics, (ii) gathering figures from entities (notably through an annual database with volume/ profitability/ capital consumptions metrics at product level) and (iii) analyzing business profitability and its evolution.
  • Setting and monitoring our business ambitions, be it in Health & Protection or in Savings, to grow on selected business in a sustainable and profitable way.
  • Developing tools to detect deviations in Actual to Expected which can affect reserves and earnings (e.g., on lapses), and to propose remediation actions considering IFRS17/Solvency 2 impacts.
  • Producing the IFRS17 CSM roll-forward and analysis.
• Perform specific deep dive analysis for the top management (e.g., analysis of product profitability or distribution network performance, definition/evolution of technical performance indicators, capital consumption of new business or specific line of business).

Regulatory role

• Provide an opinion (i) on the overall underwriting policy, (ii) on the adequacy of reinsurance arrangement, and (iii) coordinate the calculation of the technical provisions, ensure the appropriateness of underlying models and methodologies, assess sufficiency and quality of data, compare Best Estimates against experience. To do so, the Group L&H Actuarial team:
  • Coordinates the process gathering the local entities’ 1st and 2nd opinions on reserves.
  • Contributes to the “In-Depth Reviews”, based on mandate from the top management, to review the most material/sensitive Best Estimate Assumptions in both S2 and IFRS17 of 2 to 3 local entities per year. More precisely, the team (i) organize on-site missions with local stakeholders (e.g., actuarial, finance, risk), (ii) provide an independent opinion, recommendations, key perspectives and insights to the top management.
  • Provides its opinion to the Board through (i) the annual Group Actuarial Report, and (ii) 2 opinions on reserves/assumptions.
  • Contributes to the continuous improvement of the Best Estimate Assumptions setting framework (e.g., monitoring of A/Es and identification of deviations, process and methodologies for BEA change, anticipation of S2 and IFRS17 impacts).
  • Represents the Finance department as part of the “Group Underwriting Committee” for material business tenders (with a veto right).

Transversal view on a given geography

• Provide a transversal view on actuarial topics of a given geography while facilitating the relationship/exchanges with entities, and with the other Group teams.

• Participate actively to the community of Chief Actuaries.
• Boost collaborative model across Actuarial and Financial families. 
• Foster innovation and continue to build strong partnerships with Academics and AXA Research Fund.
• Contribute to Institutes of Actuaries events (e.g., working groups on Best Estimate, on mortality tables, on IFRS17).  

• Strong technical skills (actuarial modeling, coding, data) with business acumen, and ability to work in a collaborative/project mode to deliver a concrete business output.
• Ability to effectively convey complex issues into clear and easy-to-understand oral or written presentations in English.
• Ability to communicate effectively to a diverse range of stakeholders.
• Reactiveness, smooth and strong exchanges with entities.
• Capacity to deal with a wide diversity of situations, to build meaningful overviews as well as performing deep dives on technical matters.
• Background: Actuary, Financial Engineer, Data Scientist, PhD – with 8-12 years’ experience minimum.
• Language: English

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 world's leading insurers in the protection of property, people and assets, AXA is 145,000 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 !

The headquarters of the AXA Group is based in Paris - La Défense (Majunga Tower) and brings together the Group's corporate activities. It is distinguished by its strong international culture.

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 (learn more here: Reward & Benefits | AXA Group)
• 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.