Governance

Bernard BOLLE-REDDAT
Member of the steering committee
bernard-bolle-reddat
Chief Risks Officer,
BNP Paribas Cardif

Shortbio
Bernard Bolle-Reddat graduated from the French Business School Ecole Supérieure des Sciences Economiques et Commerciales (ESSEC) and the French Institute of Chartered Accountant. He is BNP Paribas Cardif (the insurance sub-group of BNP Paribas) Chief Risk Officer. From 1984 to 1994, he worked as auditor at Ernst & Young, where he specialized himself in the audit of the insurance industry. In 1994, he joined BNP Paribas Cardif as Chief Accountant Officer. From 2005 to 2009, he also represented BNP Paribas Cardif in the lobbying groups at the French & European levels (CFO Forum) on matters linked to the Embedded Value or IFRS 4 Phase 1 then Phase 2. During the same period, he was appointed member of the Insurance Group of the European Financial Reporting Advisory Group (EFRAG). In 2009, he was appointed CRO of Cardif & sponsor of the program of projects aiming at shifting BNP Paribas Cardif & its subsidiaries from Solvency I to Solvency II. His responsibilities cover BNP Paribas Cardif modelling issues and, in that capacity he is a member of the steering committee of the chair of excellence “Management of modelling” supported by the Laboratoire des Sciences Actuarielles et Financières (SAF) & BNP Paribas Cardif.

Michaël DE TOLDI
Member of the steering committee
Detoldi-photo
Chief Data Officer,
BNP Paribas Cardif

Shortbio
Michael de Toldi is Head of Data & Analytics for BNP Paribas Cardif since 2013. His first mission is to push Analytics and Predictive Modelling techniques everywhere it makes sense in all BNP Paribas Cardif’s countries and businesses: Risk, Finance, Marketing, Ops, Fraud & Money laundering; indeed, each time there is a process, associated with costs and data, there is room for improvement through analytical approaches. His second task is to prepare BNP Paribas Cardif to the (big) data revolution that is currently occuring in its various dimensions: HR, IT, organisation, data driven culture.

Jean-Paul FELIX
Member of the steering committee
felix-JP
Head of Risk Tools & Processes ,
BNP Paribas Cardif

Shortbio
Jean-Paul Felix graduated from the French Actuarial School Institut de Science Financière et d’Assurances (ISFA). He is BNP Paribas Cardif Chief Models Officer. In 2001, he joined La Compagnie Financière Edmond de Rothschild bank as Risk Manager Junior on currency options trading desk. From 2002 to 2005, he worked as actuarial consultant at PricewaterhouseCoopers, where he worked on modelling topics of the insurance industry. In 2005, he joined Cardif as an actuarial model designer working on Economic Capital and Embedded Value calculations.
In 2014, he was appointed as Chief Models Officer of Cardif. His responsibilities cover all modelling issues, both on insurance cashflows projections and on normative indicators calculations (Solvency 2…), for corporate head office and local entities; and, in that capacity he is a member of the steering committee of the chair of excellence “Management of modelling” supported by the Laboratoire de Sciences Actuarielle et Financière (SAF) and BNP Paribas Cardif. Since 2013, he represents Cardif at the Professional Fellows Group of Institut Louis Bachelier. Finally, since 2008, he is Global Risk Management professor in Master degree at Paris Dauphine University.

Stéphane LOISEL
Member of the steering committee

S.loisel2Full Professor
ISFA, Univ. Lyon 1
Membre du Laboratoire SAF

Shortbio
Professor Stephane Loisel holds a PhD in applied mathematics from University of Lyon, a MSc in actuarial science and finance, and is a fellow and former member of the board of the Institut des Actuaires. He is now full professor at ISFA , Universite Lyon 1. He was visiting professor at ORIE, Cornell University in 2014 and has been lecturing for several years in Universite Paris 6 and ENSAE. Associate Editor of IME, MCA P, BFA , Risks and co-editor of EAJ, his main research interests include ruin theory with dependent risks, Solvency II, regulation and ERM, longevity risk and customer behaviour in insurance. He is the coordinator of the ANR 4-year research project LoLitA (Longevity with Lifestyle Adjustments) and of the research chair Actuariat Durable sponsored by Milliman Paris. He received the SCOR PhD award in 2005, the Lloyd’s Science of Risk runner-up prize in 2011 and the Hachemeister prize in 2013. Stephane also serves on the CERA review panel and is the scientific director of the French CERA program. He is a board member and member of the audit committee of April Group.

Frédéric PLANCHET
Member of the steering committee
Member of the Advisory Board
frederic-planchet2
Full Professor
ISFA, Univ. Lyon 1
Membre du Laboratoire SAF

Shortbio
Professor Frédéric PLANCHET holds a PhD in actuarial sciances from University of Lyon and is a former student of the École Nationale de la Statistique et de l’Administration Economique (ENSAE). He is a fellow of the Institut des Actuaires. He is now full professor at ISFA, Université Lyon 1. His main research interests include market consistent valuations, economic scenario generators (both risk-neutral and historical views) – Modelling censored and truncated data (mortality, disability, lapse, etc.): best estimate assumptions for reserve calculations, longevity risk evaluation, catastrophic risk in life insurance.

Christian ROBERT
Member of the steering committee
Member of the Advisory Board
Christian robert
Full professor
ISFA, Univ. Lyon 1
Head of SAF Laboratory

Shortbio
Professor Christian Robert holds a PhD in applied mathematics from University Paris Denis Diderot, a MSc in Finance and Statistics, and is a former student of the Ecole Nationale de la Statistique et de l’Administration Economique (ENSAE). He is a fellow of the Institut des Actuaires.
He is now full professor at ISFA, Université Lyon 1. Formerly, he was Associate Professor in Actuarial Science at ENSAE and Director of Graduate Studies at the Centre d’Etudes Actuarielles. Christian is an Associate Editor of the European Actuarial Journal.
His main research interests include extreme value theory and statistics, actuarial theory and practice, and statistical finance.

Pierre THEROND
Member of the steering committee
pTherond2
Associate lecturer ISFA, Univ. Lyon 1
Member of SAF Laboratory

Shortbio
Pierre Thérond holds a PhD in management sciences from University of Lyon and is a former student of ISFA. He is fellow of the Institut des Actuaires. He is now partner of the consulting company Galea & Associés and associate Professor at ISFA, Université Lyon 1. Pierre main’s research interests include measurement of insurance and financial risks (especially for solvency, accounting and financial reporting purposes), insurance risk management and policyholder behavior. He received the SCOR PhD award in 2007. Pierre is a member of the editorial Board of the French actuarial magazine l’actuariel. He chairs the accounting committee of the French Institut des Actuaires.

Jean-Michel BEACCO
Member of the Advisory Board
ILB / Fondation du risque - 03/10/2012 - Paris
Head of the board of Direction
Institut Louis Bachelier

Shortbio
Jean-Michel Beacco graduated from Ecole Nationale des Ponts et Chaussées and Stanford Graduate School of Business. He began his career at the Caisse Autonome de Refinancement in 1989, as a rocket scientist in charge of social housing’s long term financing. From 1992 onwards, he headed the capital markets’ credit division in Société Générale (1992-2000), in Crédit Agricole CIB (2000-2005) and in Natixis (2005-2009).
Since 2009, Jean Michel Beacco is CEO of the Institut Louis Bachelier as well as an associate Professor of Finance at the Université Paris-Dauphine.

Régis de LAROULLIERE
Member of the Advisory Board
regis-De-laroulliereHead of
Institut des Actuaires

Shortbio
Régis de Laroullière manages the Institut des Actuaires and acts as independent board member or strategy, governance and risk management consulting with companies. Former Treasury, he was CEO of Crédit Foncier de France and Médéric-Malakoff.
He is President of the Club des Dirigeants d’Assurances et de Mutuelles. Régis de Laroullière is an actuary and graduated from the ENA (Voltaire promotion) and the Ecole Normale Supérieure (Ulm mathematics).

Pierre DE VILLENEUVE
Member of the Advisory Board
De Villeneuve-photoExecutive Chairman,
BNP Paribas Cardif

Shortbio
Education and beginnings: Pierre de Villeneuve is an actuary and a graduate of the Institut de Science Financière et d’Assurances (ISFA) in Lyon.
Career: Pierre de Villeneuve has played an instrumental role in the development of Cardif since the founding of the insurance company in 1973, holding a series of key positions in various aspects of the insurance business.
Managing Director (1992-2005) and then Deputy Chief Executive Officer (2005) of         Cardif Assurance Vie, he became Managing Director of Cardif Assurances Risques Divers in 2005. He was appointed Managing Director (1997-2002) and then Deputy Chief Executive Officer (2002-2004) of Cardif SA (holding of the Group).
In addition, he was President of the association of graduate actuaries of the ISFA from 1988 to 1991. He was also a member and administrator of the French federation of actuaries (FFA) from 1994 to 1998.
From 1996 to 2013, Pierre de Villeneuve was Chairman of the Life Insurance Committee of the French federation of insurance companies (FFSA)
From 2004 to 2013, Pierre de Villeneuve was Member of the Board Deputy Chief Executive Officer of BNP Paribas Cardif and a member of the Executive Committee.
From 2013 to 2015, Pierre de Villeneuve was Chairman and Chief Executive Officer
Today: Since January 2016, Pierre de Villeneuve has been Executive Chairman of BNP Paribas Cardif.
In June 2015, he was elected President of the Groupement Français des Bancassureurs, the French association of bancassurance companies.
In July 2016, he has been appointed Vice-President of the French Federation of Insurance (FFA).

Renaud DUMORA
Member of the Advisory Board
DUMORA-photo
Chief Executive Officer,
BNP Paribas Cardif

Shortbio
Education and beginnings: Renaud Dumora, 50, graduated from Ecole Polytechnique, the National School of Statistics and Economic Administration and the French Institute of Actuaries.
Career: He joined Compagnie Bancaire in 1990. Head of the Statistics Studies and later controller for the insurance activities in the Finance Department of Compagnie Bancaire, he was responsible for the creditor insurance activity of Cardif in France from 1994 to 2000. Group Chief Actuary of BNP Paribas Assurance (which became BNP Paribas Cardif in 2011) from 2000 to 2004, Renaud Dumora was Head of Protection from 2004 to 2007. From 2007 to 2009, he was Head of International Department. He was appointed Head of Finance and Risk Management departments in 2009, and Head of Legal Affairs in 2014. In 2012, he became Chief Operating Officer. He was appointed Head of Finance, Risks and Legal in March 2014. In January 2015, he was named Deputy Chief Executive Officer.
Today: Renaud Dumora has been a member of the Executive Committee of BNP Paribas Cardif since 2007. In January 2016, he was named Chief Executive Officer. He is also a member of the Executive Committee of BNP Paribas.

Nicole EL KAROUI
Member of the Advisory Board
nicole-el-karoui
Emeritus professor
LPMA, Univ. Pierre et Marie Curie

Shortbio
Professor Nicole El Karoui is currently emeritus professor of Applied Mathematics at the Laboratoire de Probabilités et Modèles Aléatoires of Pierre and Marie Curie University and previously professor at the École Polytechnique and Université du Maine (France).
Her research has contributed to the application of probability and stochastic differential equations to modelling and risk management in financial markets.
Nicole’s research is focused on probability theory, stochastic control theory and mathematical finance and more recently on population dynamics and longevity risk. Her contributions deal with the mathematical theory of stochastic control, backward stochastic differential equations (BSDEs) and their applications in mathematical finance. In mathematical finance, she is known for her work on the robustness of the Black-Scholes hedging strategy, superhedging of contingent claims and the change of numeraire method for option pricing. Nicole is the coordinator of ANR Project LoLitA (Longevity with Lifestyle Adjustments) in Pierre and Marie Curie University.

Christian GOURIEROUX
Member of the Advisory Board
c-gourieroux

Full Professor,
CREST – ENSAE

Shortbio
Christian Gourieroux is an econometrician who holds a Doctor of Philosophy in Mathematics from the University of Rouen. He has the Professor exceptional level title from France. Gourieroux spends six months from every year teaching at theUniversity of Toronto, and the other half of his year teaching at the Center for Research in Economics and Statistics (CREST) in France, at the University of Paris and the «Paris Graduate School of Economics, Statistics and Finance» (ENSAE Paris Tech). He has published in journals worldwide, and was a recipient of the Koopmans Prize (with two fellow partners) for their project, «General Approach to Serial Correlation» in 1985–1987. He was also awarded the Silver Medal of the Conseil National de Recherche Scientifique by the French Ministry of Research. He is a fellow of the Econometric Society.

Jean-Paul LAURENT
Member of the Advisory Board
laurent-jeanpaul
Full Professor,
Univ. Paris 1 Panthéon-Sorbonne

Shortbio
Jean-Paul Laurent is Professor of finance at University Paris 1 Panthéon – Sorbonne and member of the Laboratoire d’Excellence (Labex) “Régulation Financière”. Prior to this, he has been within ISFA actuarial school at University of Lyon and research professor at CREST, a leading academic institution in Paris. He has been a long time scientific consultant to BNP Paribas research teams (currently Global Markets Research). Jean-Paul has extensively published in academic and professional journals. He is known for contributions in the modelling and management of financial risks. He currently investigates the changes induced in this field by new banking and markets regulations.

Nicolas LEBOISNE
Member of the Advisory Board
N.Leboisne
Head of ISFA, Associate Professor,
ISFA, Univ. Lyon 1

Shortbio
Nicolas LEBOISNE holds a PhD in Finance from University of Lyon 1, in partnership with Banque Indosuez. He has been an associate Professor at ISFA Graduate School of Actuarial Studies since 1999. He was in charge of actuarial studies and deputy head of ISFA from 2003 to 2011. He was named at the head of the school since 2012. His main research interest are convertible bonds, captives and financial markets. He is a member of the EXANE European Convertible Index Board. He is also an active member of the board of DIAF Association (Diffusion Internationale de l’Actuariat Français), and has been recently named at the board of the French University of Insurance.