Erm Manager - (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. 

In this role you will be part of the GRM department, member of the Enterprise Risk Management team in charge of coordinating the risk management key processes, securing the internal model appropriateness and compliance with Solvency II and other regulation. The ERM manager leads large projects related to the Group internal model or other risk management related transversal analyses.

Dimensions

The ERM team’s scope of responsibilities is fully transversal to the Group, thus covering operations in over 60 countries, and the full range of insurance and reinsurance activities (from Life to P&C, and from retail to large corporate and specialty risks, plus reinsurance). As part of the RM framework the team implements on this full scope of entities, the determination and monitoring of capital requirements (around €30billion at Group level), and corresponding solvency ratios, is a especially key activity, both for the Group and each of its subsidiaries.

The ERM manager contributes to various of the ERM activities, in close collaboration with the head of ERM.

He interacts frequently, and/or on a regular basis, with

• the Group’s CRO and the other heads of Risk from GRM and GUO, and the direct reports and teams of the CFO and head of PBRC, General Secretary, Legal counsel, head of Compliance, head of internal audit, head of investors’ relation, and more generally all regalian functions at Group level;
• entities’ CROs and Risk Management teams, as well as on a more occasional basis other local teams; and ACPR and from time to time other local supervisory authorities.

He contributes and/or prepare documents, analyses and exec sums for the AXA’s Board of Directors, and its Audit (e.g. for ACPR, some ORSA analyses and all other Solvency II matters, including, in particular internal model related topics and projects) and Finance (e.g. on risk appetite) committees; and

He conducts a wide range of tasks, including, not exclusively, coordinating ACPR inspections (on the internal model, governance processes, identified risks or any other matter), preparing major changes applications, identifying requirements from new or changed regulations in order to implement or amend processes, organises work and proposes solutions to the uprising needs and requirements from regulators, and constantly challenges complexity with the objective to simplify and capitalize on the existing data and processes.

He participates to the Solvency II committee and the STEC working Group which are the governance bodies of all Solvency II related matters for the Group.

Context & Major challenges

ERM is a key component of the Group’s overall RM activities. RM in general has considerably developed in the insurance business in general over the past 15 to 20 years. The corresponding prominent role it plays in the management of insurance companies, be it for strategic or business considerations, is also defined in Solvency II.

Within AXA, the “federa” organization of “freedom with boundaries” has even reinforced the need for a clear, robust and consistently applied ERM framework.

In that context, the ERM manager has a transversal and expert role which makes him/her:

• actively involved in many key internal decision making processes and a senior internal contact person for many AXA executives, notably within the risk management community, the Finance community (as there are strong interactions between the model and the Solvency II balance sheet, derived from IFRS), the Legal and Compliance communities (through a coordination role vis-à-vis ACPR and other regulators).
• a representative of the AXA Group vis-à-vis key external stakeholders: primarily ACPR, as well as other foreign supervisors; and external auditors);

Key challenges include:

• constantly monitoring and improving the way the ERM framework allows the Group to manage risk and keep the most suitable approach to risk modelling and monitoring,
• navigate complexity and share information in a clear manner in order to secure achievement of the Group and team objectives and projects in the most efficient manner,
• maintaining over time the quality and appropriateness of the Group’s internal model, making it an asset for the Group, including by running the processes for major model changes / evolutions,
• contributing to a fluid and constructive relationship with ACPR (as any ERM team member),
• and more generally permanently improve the Group’s risk management framework enabling it to be both appropriate with respect to all recurring processes (e.g. all insurance activities in entities, investment management, capital allocation, etc…), as well as for fostering the risk dimension in strategic decision processes

Key accountabilities

All objectives and accountabilities are targeted to foster and support Risk Management processes in order to contribute to the Group strategy. The ERM Manager runs the following processes and responsibilities:

• Contribute to various strategic projects from the Group, and Risk management;
• Contribute to the internal model governance process, notably by conducting ad hoc projects targeted as transforming the model or adapting to needs and requirement (major change application for Citadel, aggregation, improvement of the validation for instance);
• Leading the coordination of some ACPR inspections (3 to 6 per year on average);
• Leading the coordination of some ACPR on site visits (1 to 3 per year announced from 2024 on)
• Contribute actively to the production of regulatory reports, and

More generally support and contribute actively to the ERM team objectives with the “one AXA” mindset, including, but not exclusively, on Climate risk management related matters, on any supervisor request (including questionnaires, surveys, studies etc.).

• Most areas of responsibility (e.g. ACPR relationship, Group’s solvency ratio, internal model evolutions, etc…) require ability to anticipate as much as possible any issue, and a high level of proactivity in handling them when they arise, aiming notably at participating actively to the determination of the proposed way forward, and driving both internal and external stakeholders in the corresponding direction.

• Actuary / quant + Fluent English + Knowledge of SII regulation and the insurance business, finance expertise: ability to dig into the modelling tools is a plus.
• Project management.
• Ability to develop high quality interactions with all internal and external stakeholders and manage by influence in an international, multicultural and complex environment.
• Strong communication skills in 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.