Description du poste

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).