Zoher - Chef de projet Finance Risques

EXPERIENCE

Breteuil Consulting, Paris/France 2016 - Present
Founder/Managing Director - Risk/Finance expert (bank/insurance/asset management teams)

• HSBC Global Markets/Product Control: Paris Branch Project: In order to optimize capital allocation for the French CIB units, the Group has decided to re-use French ex-Midland bank units own-funds and redesigned Front Office Trading desks. In this context I was in charge of redesigning the Product Control processes of those trading desks for interest rate swaps, bonds, FX, money market and structured products

• La Banque Postale: I led transfer of a EUR 3 billion assets portfolio from CNP Insurance to La Banque Postale Asset Management. I did portfolio oversight/analysis/forecasts to the board, audit and finance committees. I led IFRS9 programs for three insurance companies. I led the implementation of those new assets into an external back-office and depository provider (CACEIS), covering both local accounting and regulation (under Solvency II). I defined new assets allocation strategies, limits and mandates along with La Banque Postale AM

• Generali EA Head Office: I was in charge of designing a tool that provided investment forecasts and market exposures for the Risk and Finance departments and regulatory bodies. The tool was implemented in 5 European companies and the holding (later expanded to 11 companies)

• HSBC Global Markets/Product Control: Brexit project: I was the leader of debt capital market origination (DCM) processes worksktreams for embedding +300 debt origination deals per year from London to Paris trading desks. On a BAU context, I was also in charge of settling IFRS9 issues at product control level such as classifying German own-credit spread instruments, as making a split between vanilla and structured product swaps hedging underling proprietary vanilla debts and deposit certificate issuances for the bank capital reinforcement, cash-flow and fair-value hedging on those instruments; for product control, I put in place processes for the French Centrale Bank’s new regulatory reporting Anacredit on asset encumbrance and for the ECB’s new regulatory reporting SHS on losses due credit risks for bonds trading books

• BNP Paribas Fortis/Corporate finance-M&A: I led and supported 15 transactions and restructuring activities including merger of 3 subsidiaries, liquidation, and carve-outs (I steered and worked on a number of transactions, like mergers, setup of new legal entities, liquidations, capital increases and decreases, acquisitions or disposals of activities (through share or asset deals). I was the main contact with the Business line sponsoring the transactions. I coordinated the contributions from the different departments. I actively participated to the analysis and closing of the transaction, and finally I made the link with the operational teams in charge of the implementation

• BNP Paribas Cardif/Financial Management: I oversaw capital management activities including calculating capital requirements for Group following S&P model, I analysed Group exchange rate exposure across 76 countries and I participated in hedging strategy for 2021, I calculated dividend collection from over 100 subsidiaries in 76 countries

• BPCE-Natixis/Finance Department: I managed a team of 5 in charge of overseeing over EUR +20 billion unit-linked portfolio management (more than 900 open-ended mutual funds, real estate funds, ETF, EMNT, structured products and stocks) and execution, in coordination with Natixis CIB, Natixis IM, Natixis WM, Natixis Life Luxembourg, Ostrum AM, CACEIS, BNPParibas Securities Services, Delubac Bank, H2O AM, BPGO, MFlex and BPCE Group. I also drove reporting on the unit-linked portfolio KPIs, performances and corrective actions to the Group Finance Committee, to the actuaries, the auditors and to the Risk teams and to the Board.

Deloitte LLP, London/United Kingdom 2014 - 2016
Senior Manager Audit - Risk/Finance (Insurance and asset management teams)

• Prudential Group: I managed a team of five experts and I collaborated with Prudential Regulation Authority/Bank of England to set-up a UK Insurance market practice on funds transparencies in a Solvency II context

• MetLife Group: I supported the Group Finance on its acquisition of a U.S. life insurance company by providing expertise on Insurance key accounting differences between IFRS and US GAAP

• BlackRock, M&G Investments and Saint-James’s Place: I provided risks/solvency II expertise to the life insurance companies CFO

• Legal & General Group: I helped to secured Solvency II processes feeding Group Internal Models for capital allocation

Chappuis Halder & Co, Paris/France 2013 - 2014
Consultant in Risk/Finance (Private Equity and bank teams)

• Sagard Private Equity Partners (€1.5b P.E. funds): I managed a team of four experts and I led two M&A deals in the FS sector including determining the target's standalone value based on a rigorous understanding of insurer businesses, financial statements, cash flows components and generators, assessed realistic growth potentials

• BPCE Group and Natixis CIB (French leading Banking Groups): I led a team of 5 in charge of defining BPCE Group initial liquidity coverage ratio (LCR/NSFR) introduced by the Basel 3 reform (processes, calculations and optimisation)

Ernst and Young (EY), Paris/France 2007 - 2013
Senior Manager Audit - Risk/Finance (Insurance team)

• SCOR Group and COVEA Group– I acted as an independent external auditor for EY

• Barclays France: I was the Solvency II program leader (2-year program): my worked covered compliance diagnosis, roadmap set-ups from as-is situation and implementation. I managed a team of eight experts (e.g. actuaries, IT, risks / ERM / financial accountants). I led implementation of Barclays Vie operational risk and control frameworks and I provided supports, guidance and training to the first line of defence on risk assessment and loss reporting. I put in place a comprehensive KRI framework. I redesigned finance and risk functions

• French Association of Insurers: I supported Solvency II impact assessment to the French Ministry of Finance

• Metlife Group (in France, the UK and Ireland): I provided transaction support in Alico (ex-AIG life) European untis buy-out/M&A by Metlife

• Matmut and SMA Groups: I managed a team of 5 experts. I defined risk and control matrix. I selected key risks and I defined KRI and risk policies. I led implementation of operational risk and control framework and I provided support, guidance and training to the first line of defence on risk assessment and loss reporting

• Maaf Insurance (COVEA Group): I acted as interim deputy CFO (managing +17 companies). I managed the Finance and Controlling departments BAU (45 people). I was accountable for producing the Group accounts: 17 statutory and Group consolidated accounts under IFRS. I managed relationships with Group auditors. I led financial communication with internal and external stakeholders (rating agencies). I steered all projects driven by the Finance Department (insurance portfolio mergers, Group internal reinsurance set-up etc)

• La Banque Postale IARD and Thelem Prévoyance: creation of two new insurance companies: one life and protection insurance company and one GI insurance company. I set-up the finance and risk divisions of the two companies (e.g. project management, IT needs, documentation of processes, risk and control frameworks). I led discussions on the business plan with the French supervisor (ACPR)

• Helvetia Insurance: I was the Solvency II program leader for Helvetia France. I managed a team of 5 experts, and I provided technical finance and risk support to the CFO. I steered compliance diagnosis (all pillars), roadmap set-ups from as-is situation and implementation for France. I led Pillar 3 workstreams (e.g. economic balance sheet and regulatory report (SFCR, RSR, QRTs)) and data catalog

• Allianz France: GRP Project (involving over 50 people to align accounting, controlling and procurement financial systems & processes). I managed five people. I steered French GAAP and IFRS regulatory SAP modules implementation. More than fifteen Life/GI French insurance companies concerned. I structured and I drove general and detailed design for the accounting workstream, including SAP Data model, chart of accounts (multi–GAAP Accounting - French GAAP / IFRS), SAP Financial accounting functionalities

• Groupama Group: SAP project to redefine Group accounting model of three life companies in the context of a merger of two major Insurance Groups (GAN and Groupama). I managed five people. I steered French GAAP and IFRS regulatory SAP modules implementation

• AXA Spain, AXA France, BPCE BANK (Insurance arm), MACSF, AGPM & SMABTP: I steered Solvency II compliance diagnosis. I defined Solvency roadmaps (e.g. planning, workloads, detailed works to be performed) for building up the economic balance sheet and the regulatory reporting. I trained client teams (up to 10 attendees each time) to Solvency II (pillar 2 and 3)

• BNP Paribas IP – Groupama AM – Amundi (Leading asset managers). I trained asset managers’ teams (up to 15 attendees each time) on Solvency II (all pillars) on how to assess their major Solvency II impacts e.g. market risks and solvency appraisal, investment strategies and asset allocations, organizational impacts, information to regulatory reports

• IPO Preparation of a leading Insurance Group: I managed a team of five experts (e.g. transaction support experts, auditors). I steered part of financial due diligence project regarding an IPO preparation, involving 20 people. I led the finance streams of the Group IPO, including private shareholders’ entries. I redesigned Finance and Risk Departments organization in a Solvency II context. I set-up an international benchmark on the main organizational impacts of Solvency II for insurer

KPMG, Paris/France 2001 - 2007
Manager - Audit and advisory (Insurance team)

• Allianz and Generali Groups – external auditor: I managed a team of auditors. I covered French GAAP and IFRS reporting

• Allianz and Euler Hermes Group: BCS Project - I managed four experts and I was in charge of defining the Group consolidation processes under multiple standards (IFRS, USGAAP, French/German GAAP) for more than 15 French Life/GI insurance companies, including Dresdner bank, Allianz Bank and Euler Hermes Group. I defined technical specifications of a new multi-GAAP ledger. I defined reporting processes and I assisted to the FTA

• Generali Investment Europe: I managed three specialists. I was in charge of implementing IAS32 and 39 to all of French Group insurance subsidiaries. I set-up all the restatements processes from French GAAP to IFRS and I assisted to the FTA

• American International Group (AIG) Europe Ltd: I managed hight finance experts and I implemented USGAAP (USSAAP - NAIC rules) at European level, for the 10-K purposes, converted to US SSAP (NAIC rules) financial statements accounts of 15 branches and of 2 insurance companies held by AIG Europe. I defined the Group accounting manual for French GAAP reports and restatements to produce USGAAP accounts

• AXA Group: I was in charge of redesigning the Group global IFRS consolidation scope further to Winterthur buy-out

• AXA France: I managed 7 experts and I led Sarbanes Oxley programs AXA. I deployed risk framework to all AXA French companies (Life/GI)

• Allianz: I led SOX project for France (four people managed) for the following processes: financial assets, cash/treasury, tax, life and PC contracts, reinsurance. I defined processes and risk / control frameworks. I tested risks and controls matrix. The work I performed during this project has become Allianz Group best practices reference for SOX documentations purposes at Global level

• BNP Paribas Insurance: I led a team of seven people. I was in charge of building and steered Group internal control department (second line of defence). I defined methodology and audit strategy reviews along with Group Internal Audit. I delivered audits and I took overall responsibility through wrap-up and final report delivery. I verified controls and I checked the coverage, consistency and functioning of the risk control systems through audit assignments

• Generali France: FARG Project – I led a team of seven experts (e.g., financial accounting, tax and insurance experts) in charge of documenting processes, risks and controls frameworks to all French Insurance companies (more than ten life insurance companies) on the following: financial assets, cash/treasury, tax and life insurance contracts

• Credit Agricole Insurance - Artic Project (involving almost 50 people): I participated in the Group operating model redesign following the merger of two life insurance companies (Predica and Credit Lyonnais Insurance). I managed a team of three experts

Arthur Andersen (now Ernst & Young (EY)), Paris/France 2000 -2000
External audit team member for Credit Agricole Group (Consolidated accounts/Annual reports)
Internships at AXA Global Risk (risk analyst in aeronautics and space sectors) + for an Asset Management firm 1998-1999