Position: Senior In-force Life Actuary
Placement through Fenchurch Associates
, London United Kingdom
Duties: Contribute to further developing the Group’s expertise in Structured reinsurance; Identify opportunities to improve the performance of the Inforce portfolio through Structured Reinsurance; Act as project manager for Structured Reinsurance projects
Requirements: Deep knowledge of the L&S business from a business & financial perspective – & experience at both local and global levels a significant plus; Amongst the best Solvency II expertise money can buy, and prior experience in implementing Structured Solutions a very significant plus, almost a pre-requisite; Strong process and project management and logical structuring/frame-working skills; Solid quantitative capabilities and appetite/capability to connect effectively with financial and actuarial professionals
Text: Services Contract/Interim Executive Search Contingent Search Data Science Course Candidate Services Divisions UAE Talent Solutions Actuarial Recruitment Analytical Recruitment Underwriting Recruitment Graduate Recruitment Jobs About us Articles Testimonials Contact Services Contract/Interim Executive Search Contingent Search Data Science Course Candidate Services Divisions UAE Talent Solutions Actuarial Recruitment Analytical Recruitment Underwriting Recruitment Graduate Recruitment Jobs About us Articles Testimonials Contact Back to results per annum permanent Share The candidate will be responsible for: Supporting the development of the strategy and technical expertise of AXA on Structured Reinsurance, and drive its deployment in the environment of Solvency II and of the 2020 Group Ambition and 2023 Strategic Plan & beyond, in relations with the with AXA Group Entities and the reinsurance markets and its actors Driving the development of AXA capabilities for anylyzing, visualizing, decomposing, and re-structuring the shape and behavior of our Solvency II assets & liabilities, in pursuit of financial objectives specific to each situation Driving the deployment of Structured Reinsurance expertise to specific key roles in targeted organizations (eg Asia Markets head office team) In short, the incumbent will spearhead AXA’s strategic development of an industrialized capability “to analyze and utilize its financing capabilities through Liability derivatives (structured reinsurance) to the same degree as we have on Asset Financing capabilities, especially useful as an alternative when Asset Financing becomes less attractive”. He / She will consequently be a reference expert in structured reinsurance, will lead and coordinate any project related to this topic with full transparency and rigor and be in charge to spread whenever possible the knowledge and expertise about this throughout the whole organization. The candidate will identify, analyze and implement structured reinsurance treaties for the AXA Group and AXA entities. He / She will monitor those transactions in close coordination with impacted Entities, external reinsurers and the GIE AXA teams and support the financials teams at AXA for the treaties aiming at impacting our capital management structure. The candidate will additionally drive any transversal missions as required and most probably related but not exclusively with the structured reinsurance. Inforce Management The mission of the Life & Savings, Protection & Health Insurance Office is to assure a coherent and global delivery of the Inforce and Technical Excellence programmes described below and thereby make a material contribution to the optimisation by the operating entities of the performance of the Life, Savings, Protection & Health businesses of the Group. The Inforce Management programme is articulated around four pillars: a) UE generation, b) balance sheet agility, c) cost optimization and d) supporting the realisation of the commercial potential of the Inforce portfolios. Inforce Management is also responsible for developing, promoting and supporting entities in adopting alternative financing solutions through liability derivatives (aka Structured Reinsurance). Mission description: The post is part of a team of 4 dedicated specialists analysts with actuarial / reassurance / corporate finance / interpersonal / communication & business skills. The post leads / contributes to the definition of the Group’s Structured Reinsurance strategy and deployment, notably in the context of our commitments to the markets in our 2020 Ambition and in the context of the Group’s new organisation The post analyses the exhaustive financial situation of each company and its different lines of business and sub-blocks thereof, along all the key financial indicators that are almost always managed by different local teams and under different objectives, to extract a strategic perspective and a clear roadmap of financing opportunities through liability derivatives that can be proposed to local management and the finance teams in the corporate center (our 2 main clients) The post will support Markets and operating entities in implementing concrete transactions to optimise the balance sheet profile whilst having an alignment on the P&L integrity and the overall company strategy The post will explore, find and leverage or develop large data visualization, analytics and vulgarisation capabilities to enable various levels of management, from the very top down, to familiarize themselves with liability derivatives techniques (structured reinsurance) to the same degree they are today comfortable when approach with ALM strategies (using asset derivatives) The post will directly be responsible for developing a larger and larger network of experts and top level managers across AXA who are familiar with the liabilities derivative toolkit, starting with the Heads of Inforce, but also across the various finance and risk management roles across the organization (central & local) Core activities Contribute to further developing the Group’s expertise in Structured reinsurance Follow the trends in the financial, regulatory and business environment Monitor innovative structures based on reinsurers’ proposals, market trends and competitors’ transactions Keep the documentation for items above Update as necessary the transaction framework for Structured Reinsurance, including Inforce’s position paper on optimal capital financing capital through liability derivatives in an inefficient A/L market (from sourcing in academia & through personal research) Identify opportunities to improve the performance of the Inforce portfolio through Structured Reinsurance: Analyse regular entity reporting for capital efficiency topics Interact with other Group functions (DCFG, GRM, PBRC…) to understand capital management challenges facing the group and the entities Based on the above, identify areas where Structured reinsurance can be useful and Bridge such areas with potential reinsurance structures producing the most benefits Help with the prioritization of the actions to be carried out Follow-up of the implementation of these actions Monitor the impact on earnings and alignment with the objectives of the year Act as project manager for Structured Reinsurance projects Set up and conduct regular meetings Make sure resources are allocated and deadlines are met Coordinate with stakeholders at Group and Entity level and facilitate the project’s progress Key Dimensions: On the soft side, fluid interactions with all levels of Management and Expertise at the AXA Group Level in an effective and impactful manner - from the Group CFO & CRO to the experts in Risk & Finance inside the teams; and likewise with the entities : all projects are sponsored by a local ExCom member and the incumbent will uphold the GIO name at all times. On the financial side, and together with the other 3 members of the team, the incumbent will need to propose AXA Group’s management for 1bn€ of potential cash through liabilities financing; and upon top management decisions upon its priorities thereof, co-lead the deployment and implementation of the solutions. CANDIDATE PROFILE Professional skills (process, organisation, commercial & business expertise): Deep knowledge of the L&S business from a business & financial perspective - & experience at both local and global levels a significant plus Amongst the best Solvency II expertise money can buy, and prior experience in implementing Structured Solutions a very significant plus, almost a pre-requisite Strong process and project management and logical structuring / frame-working skills Analytical and financial skills and ability to summarise succinctly: ability to break down complex problems to essential elements and focus on main issues Solid quantitative capabilities and appetite / capability to connect effectively with financial and actuarial professionals Lastly but not least, a proven track record in handling extra-large amounts of data in an efficient way (coupled with a vision and an appetite to take these capabilities to the next level, including 3D visualisation) Soft skills and competencies : Strong interpersonal, communication and documentation skills (writing / speaking) Ability to influence entity senior management (e.g. Head of Life, Heads of Inforce, CFOs) and represent the Group’s interest Ability to think out of the box and provoke original thought in others Autonomy and ability to take initiative are critical Able to think strategically and challenge the status quo Experience : At least 10 years’ experience in the Life & Savings (Insurance and/or Bancassurance) business (exposure to Health and Simple P&C products would be an interesting plus) Validated experiences through 3 of the 6 key business families: Distribution, Business Development, Reinsurance, Product, Risk and Finance Excellent writing and speaking skills in English, French and other languages a plus Apply for this job Name * E-mail * CV upload * Your message This iframe contains the logic required to handle AJAX powered Gravity Forms. 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