Nat Cat Risk Analyst - (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.

AXA Group Risk Management Property & Casualty (GRM P&C) deals with the most sophisticated P&C technical and actuarial challenges of a leading international insurance company, among which the management of natural catastrophe risks (CAT). Natural variability of climate and seismic activity have demonstrated their devastating potential, climate change bringing additional uncertainty for the future. AXA’s rapid expansion over the last years – both in terms of geographical footprint and P&C insurance offer – widely exposes AXA to natural perils, being in charge of the financial protection of its clients. In this context, AXA must maintain state-of-the-art CAT risk management techniques through permanent innovations.

AXA GRM brings together high level and multidisciplinary staff with engineers, PhDs, actuaries, data scientists and financials split between Paris, Hong Kong, Zürich and Madrid. Its main missions are focused on the following key areas:

• develop and maintain models and tools in an efficient and strong IT ecosystem to industrialise deliverables;
• analyse, model and aggregate the Group’s risks (economic capital);
• define and implement the process enabling to secure the undertaken risks (risk appetite, assets accumulation, longevity, natural catastrophe ...);
• optimize the Group protections (reinsurance, securitization, hedging, etc.) to meet the desired strategy.

Job Summary

Position belongs to the Group P&C Risk Management Natural Catastrophe and Reinsurance team (21 FTE) which is organized several excellence centers: CAT R&D Modeling, Data Analytics, Accumulation Management and Reinsurance. As part of AXA’s Internal Model under the Solvency II framework, the CAT and Reinsurance team are primarily in charge of delivering the annual CAT modeling process, consisting of:

• Collecting CAT exposure data (geographical, physical and financial information) on a per-entity (AXA France, AXA Mexico, AXA Philippines…) and per-location basis (houses, factories, vehicles etc.);

• Assessing the risk on a per-entity per-peril basis (cyclones, earthquakes, floods, hailstorms...) which feeds the whole downstream chain locally (pricing, budgets, reinsurance decisions, capital modeling)

• Estimating the efficiency of the Group Reinsurance covers

• Developing in-house models, methodologies and applications to support the CAT risk monitoring.

The CAT modelling process has strong strategic and operational impacts since it feeds AXA Economic Capital internal model, the Economic Combined Ratio and NAT CAT budget calculations which drives the earnings and the solvency position of AXA Group. It and determines adequate levels of reinsurance needs, which may boost or hinder profitability. It is also a technical challenge with the data collection of 25+ millions of complex and worldwide policies covering 50+ millions risks, the parallel use of multiple modeling solutions including both physics and machine learning techniques, and finally the assessment of 190 country x peril levels of risk.

Going beyond the use of external solutions, AXA Group develops its own suite of CAT models. The models are nested in a global and robust workflow, largely automated and auditable. In addition, leveraging this Group knowledge and expertise for the business, the team has been developing actuarial frameworks and operational solutions to diffuse CAT model result data, alert and assess live event impacts across the world. Whilst reinsurance offers ability to annually reshape risk towards Risk Appetite, sound selection at point of underwriting offers ability to continuously shape the risk from the source. For this purpose, the team has built a powerful GIS (Geographical Information System) WebApp solution which brings together our data, science, and technology assets into for site or bulk analysis of underwriters and risk managers within entities.In partnership with AXA Group Operations (IT center of excellence), the team has built over years several strong in-house IT applications to take natural perils risk management challenges separately (exposure, modeling, aggregation, netting down, single-site pricing, GIS). Reaching the next level requires to assemble this set into a modular ecosystem that will enable the rise of new capabilities.

The CAT Risk Analystwidely interacts with the Data Analytics & Aggregation teams (in charge of monitoring accumulation and delivering appropriate applications for technical pricings to support CAT underwriting), the R&D Modeling and Reinsurance teams (in charge of ceded reinsurance modeling) and benefits from the IT expertise of FTEs (internal consulting). The team is looking for a highly motivated and versatile individual to take up this challenge notably delivering Master Data Management and Knowledge Management assets, participating in the development of sophisticated CAT models and operational IT applications, producing detailed CAT risk analysis of AXA Group portfolio exposed to natural events in +200 countries. It will imply weekly collaboration with IT developers, continuous interactions with AXA entities, scientists and analysts on various Natural Hazards and Climate change topics. The selected candidate will be fully onboarded in the team where he will benefit from the close collaboration with junior and senior experts, he will be the group referent of designated P&C operational entities on natural perils’ aspects (notably the annual CAT modeling process).

This position offers a great exposure across the Group, supporting different functions among entities, on a highly valued segment while working on innovative solutions and dealing directly with insurance challenges, on the domain of Climate Change and Natural Hazards.

Position Responsibilities

• Assess CAT risks borne by AXA entitiesexposed to natural events
  • Provide a technical support to local entities around the collection of their exposure data;
  • Assess CAT risks (cyclones, earthquakes, floods, hailstorms, droughts, wildfires) associated to these exposures using dedicated catastrophe modelling tools;
  • Deliver an AXA view of the gross risk for AXA entities, enabling them to purchase adequate reinsurance in line with their risk appetite;
  • Participate in the development of various in-house CAT models to reinforce the R&D modeling ambitions.
  • Participate in the Group’s response to climate risks and their evolutions, within its corporate responsibility framework;
  • Participate in the Group Reinsurance mechanism and estimate the impact at local and group level.

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  Improve the CAT Process efficiency and the IT operational applications
  • Support the development team of Goup Property Exposure database and natural event loss aggregation tool;
  • Maintain and develop the suite of the innovative tools for Master Data Management and Knowledge Management assets;
  • Implement and/or re-design internal procedures for data analytics surrounding the modeling of natural event risks (R/Python/SQL/PowerBI);
  • Digitalize reporting to improve the understanding of CAT risks and their impact up to senior management level;
  • Contribute to improve efficiency through the coordination of IT projects aimed at further industrializing processes (at the interface between business and IT staff);
  • Evolve in the Solvency II environment: produce technical documentation, adopt best knowledge management practices and make sure governance standards and Group recommendations are followed at entity level.

The candidate will have a solid scientific background together with strong inter-personal skills allowing him / her to evolve in a highly exposed and international environment.

• Professional and technical skills
  • Master degree or equivalent in relevant field (engineering, natural hazards, actuarial science, applied maths);
  • Robust Data and programming skills: collection, transformation and mining (R/Python, SQL);
  • Strong interest in Climate Change and Natural Hazard science
  • Interest in the business fields related to (re)insurance;
  • P&C Insurance or Catastrophe modelling is a plus;
  • French and Business English – fluent (spoken and written);
  • 2-5 years’ experience in a relevant field.

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  Interpersonal skills
  • Analytical skills / Ability to evolve in a diverse technical and operational environment;
  • Team work / Project management abilities / Entrepreneurial spirit and ambition to drive change;
  • Strong communication skills;
  • Motivated by an international and dynamic environment;
  • Curiosity to learn about the insurance industry and actuarial science;
  • Autonomous and self-confident as point of contact on technical matters.

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.