VIE Programme

VIE - Product Actuary H/F

Modified on 01/07/2024

  • Tokyo - Japon - Japan
  • Insurance
  • 2024-90915

Job description

CALJ, established in 2007, is actively growing its creditor protection insurance business (“GCL”) and its saving business, to answer the needs of clients through a diversified distribution network with around 50 banking partners.

 

CALJ is a 100% subsidiary of Credit Agricole Assurances (CAA), the number 1 insurance company in France and the number 1 bancassurance player in Europe.

 

KEY MISSIONS OF PRODUCT ACTUARIAL DEPARTMENT :

  • Product strategy
  • Product development 
  • Product and Underwriting risk monitoring

 

SPECIFIC RESPONSIBILITIES

  • Product development and pricing
    • Assisting in preparation of pricing proposals of premiums and reserves based on experience data, using actuarial models if necessary, when new products are developed or existing products are revised.
    • Collecting data for pricing (such as public national data, industry data, company’s internal data and data from external data vendors) in proper format and assessing the adequacy of using it for pricing in light of its features
    • Calculating profit indicators (including present value of profit and profit margin based on domestic and international accounting and regulation rules) using models for profit testing.
    • Conducting sensitivity tests under some stress conditions (such as increase in mortality rate, decline of interest rate and credit crunch) for the purpose of adequate risk assessment.
    • Preparing technical documents that describe actuarial components of products including premium and reserve rates, formulas, assumptions and results of profit testing in order to communicate and negotiate with CAA International Business Unit.
    • Monitoring of products profitability after launch
  • Model development and maintenance
    • Developing models for pricing and profit testing that calculate premium rates, reserve rates, cash flows and profit indicators when new products are developed or existing products are revised.
    • Updating the models in response to changes in the environment (mortality and lapse rates, market condition, national social security system, etc.).
    • Analyzing experience data (internal and external) and conducting market research regularly in order to detect changes in the environment in a timely manner, which includes experience studies regarding occurrence rates with biometrical features (mortality rate, cancer morbidity rate, etc.) and those with behavioral features (lapse rate, etc.). If data size is large, appropriate data processing tools (“Microsoft SQL server” and “VBA” are mainly used in CALJ) should be used.
    • Keeping documentations describing details of the models up-to-date.
    • Integrating IFRS17 and Solvency II principles into the models (current models are based on local accounting rules and local regulations).

    • Duration
    • 12 à 24
    • Executive / Non Executive
    • Non cadre
    • Minimum level of study
    • Bachelor Degree / BSc Degree or equivalent
    • Training / Specialization
    • Bachelor degree in Actuarial science.
    • Minimum experience level
    • 0-2 years
    • Compétences recherchées
      • Fluent written and spoken English.
      • Computer skills, including MS Office tools (Excel, Access) and programming (VBA, SQL, Python or other widely used language), actuarial software (such as Prophet, MoSes, VIP, or MG-ALFA), in particular, experience on analyzing actuarial / financial model programming
      • Ability to build good working relationships, good communicator, team player, within CALJ and with CAA International Business Unit

  • As the Japanese subsidiary of Credit Agricole Group, we provide Japanese customers with our bancassurance experience and know-how cultivated in Europe. Credit Agricole group's insurance business has established itself as a pioneer in bancassurance (selling insurance product through banks) in France, the company's home country, and it has been actively expanding its business outside of France in recent years. Here in Japan, Credit Agricole Life Insurance Company Japan Ltd. plays a part in this business. We operate group credit insurance and savings insurance, and form partnerships with approximately 50 financial institutions. To date, we have provided products and services which meet customers' needs by deepening cooperative relationships with our partner financial institutions. We will continue to actively utilize our bancassurance experience and know-how to provide “simple”, “innovative”, and “high-quality” products and services that are suited to the Japanese insurance market.

Crédit Agricole Assurances
Crédit Agricole Assurances
Crédit Agricole Assurances

Crédit Agricole Assurances

VIE - Product Actuary H/F

Published the 01/07/2024

VIE Programme
  • Tokyo - Japon - Japan
  • Insurance
  • 2024-90915
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Our advantages

Working from home

This is a working method that has existed within Crédit Agricole Assurances for many years.

Training

Numerous face-to-face and remote levers: learning from others, giving and receiving feedback, taking training courses (124,000 hours by 2023), enhancing experience, taking on new missions.

Crossovers

A wide range of support (events, workshops, guidance tools, practical information sheets, advice, etc.) and a variety of career paths within our Insurance Group and throughout the Crédit Agricole Group.

Companies

Sites in Paris, the French regions and 8 other countries: Ireland, Italy, Spain, Japan, Luxembourg, Portugal, Poland and Greece.

Banking benefits

Banking benefits for staff

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