Sender - EDHEC-Risk

Samuel Sender
Accounting, Law, Finance and Economics Department
Applied Research Manager
Phone : + 33 (0)4 93 18 78 33
E-mail :
[email protected]
Samuel Sender has participated in EDHEC Risk and Asset Management Research Centre
activities since 2006, first as a research associate—at the same time he was a consultant to
financial institutions on ALM, capital and solvency management, hedging strategies, and the
design of associated tools and methods. He is now a full-time applied research manager at the
EDHEC Risk and Asset Management Centre. He has a degree in Statistics and Economics
from ENSAE (Ecole Nationale de la Statistique et de l'Administration Economique) in Paris.
EDUCATION
Master of science in Economy and Statistics
ENSAE (National School for Statistics and Economics – France)
TEACHING EXPERIENCE
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“Global Best Practices in ERM for Insurers and Reinsurers Webcast” by PRMIA
and Society of Actuaries (SOA). With Prof. S. d’Arcy, 2008.
ALM for banking (private training, 2008)
ALM for general insurance (private trainings, 2008, 2009)
ALM for life insurance (private trainings, 2007)
Solvency II (public and private trainings, 2007)
Fair Value analysis (public training, 2007)
Data analysis with SAS (private training, 2006)
Design of experiments (for an engineering school, 2005)
Presentations at various seminars and workshops (AXA London 2009, EDHEC
Institutional Days 2009, AXA MSI 2008, EDHEC Institutional Days 2008, Fermat
Forum Risk and Performance 2008, SAS Days for finance 2007, French Ministry
Samuel Sender, Research Manager, EDHEC Business School
of Finance workshop 2007, European Parliament workshop 2007, EDHEC
breakfast seminar 2007, SAS Forum BeLux 2006, and other events)
PROFESSIONAL NON-TEACHING EXPERIENCE
Applied Research Manager, EDHEC Risk and Asset Management Research Center
Consulting projects for insurance:
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Audits of Asset and Liability Management and Financial Risk Management
Hedging liabilities and strategic asset allocation: restructuring of life and non-life
books
Hedging inflation risk in non-life books
Optimisation of product mix, preparation of medium term plan (pricing and
volumes)
Solution for Solvency II: from definition of model points to calculation of required
capital; risk-management process
Consulting projects for bank:
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Basel II Pillar I, credit risk, IRB-advanced, gap analysis and roll-out plan
ALM with emphasis on hedging and accounting, design of a tool
Consulting projects for financial conglomerates:
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Capital management: a single metric for capital (group, bank, insurance) and
definition of new targets for capital and group leverage.
Intra-group risk transfers
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Head of Asset and Liability Management Department, Life insurance.
Economist; Strategist. HSBC Asset Management Europe
Others
PUBLICATIONS
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“Reactions to an EDHEC study on the impact of Regulatory Constraints on the
ALM of Pension Funds”, September/October 2009. EDHEC Publication.
“IAS 19: penalising changes ahead”, September/October 2009. EDHEC Position
Paper.
“The European pension fund industry again beset by deficits”, April 2009.
EDHEC Position Paper.
“Are there really any risk-free rates?”, January 2009. EDHEC Position Paper.
“The Impact of Regulations on the ALM of European Pension Funds”, January
2009. EDHEC Publication
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Samuel Sender, Research Manager, EDHEC Business School
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“The Basel II Reform That Would Have Made Most Injections of Public Funds
Unnecessary”, January 2009. EDHEC Position Paper
“Les mesures de recapitalisation et de soutien à la liquidité du secteur bancaire
européen”, November 2008
“Banking: Why does regulation alone not suffice? Why must governments
intervene?”, October 2008
“QIS4: significant improvements, but the main risk for life insurance is not taken
into account in the standard formula”, February 2008
“EDHEC comments on the European Insurance and Reinsurance Federation’s
position paper [and] on the Solvency II directive”, September 2007
“Will European insurers be able to continue to invest in hedge funds?”, September
2007
“QIS3: meaningful progress towards the implementation of Solvency II, but
ground remains to be covered”, with Philippe Foulquier, June 2007, EDHEC
position paper.
“CP20: Significant improvements in the Solvency II framework but grave
incoherencies remain”, with Philippe Foulquier. January 2007, EDHEC Position
Paper.
“QIS2: Modelling that is at odds with the prudential objectives of Solvency II”,
with Philippe Foulquier. November 2006, EDHEC Position Paper.
“The Impact of IFRS and Solvency II on Asset Liability Management and Asset
Management in Insurance Companies”, with Noel Amenc, Philippe Foulquier and
Lionel Martellini. November 2006, EDHEC Publications.
FEATURED IN THE PRESS
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Pension Funds Europe, July 2009 : “Don’t panic, it’s Germanic!”
Pension Funds Europe, June 2009 : “Go Dutch with pension funds”
Pension Funds Europe, May 2009 : “Risk tolerance in UK pension funds”
IPE, June 2009. “Regulation and ALM”
L’Agefi, May 20th, 2009. "La recherche parie sur l'ALM dynamique » ; « La
recherche parie sur l'ALM dynamique".
CPI Financial, February 29th, 2009. “Money down the drain ?”
L’agefi hebdo, February 26th, 2009. "Le ratio de solvabilité, un outil, pas une
panacée"
Les Echos, February 2nd, 2009. "La nationalisation des banques n'est pas
inéluctable"
Trends/Tedances. February 5th, 2009. “Faut-il abaisser les exigences de Bâle II ? ».
IPE, January 29th, 2009: “EDHEC sees banking solution in Solvency II-type
funding”
CentralBankNews, January 28th, 2009. “EDHEC research shows that a single
reform to the banking system would have made most injections of public funds
unnecessary”
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Samuel Sender, Research Manager, EDHEC Business School
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January 28th, 2009, Simultaneously on Boursier, Le Revenu, Bourse Direct, and
Challenges. "Economie : Noël Amenc et Samuel Sender préconisent d'assouplir les
obligations prudentielles des banques"
Complinet, January 26th, 2009. “An argument for group support in Solvency II”
Option Finance, January 19th 2009, "Le marché trop exigeant en termes de fonds
propres vis-à-vis des banques ?"
L’Agefi Hebdo, 18 Décembre 2008, "Quand règlementer n’est pas réguler"
Les échos, 3 Décembre 2008, « La recapitalisation, « bon plan » pour les banques»
L’Agefi, 3 Décembre 2008, « Les Etats et Bruxelles signent la trêve bancaire »
Le figaro, 2 Decembre 2008, « Bruxelles pourrait se prononcer cette semaine sur le
plan bancaire français »
L’Agefi, Novembre 2008, “Le plan français de soutien aux banques fait débat”
(interview by Noël Amenc)
Edhec newsletter, November 2008, « EDHEC regrets abandon of group support in
Solvency II”
La tribune, November 2008, « Solvabilité le défi de l’harmonisation »
Les échos, November 2008, “Juste valeur : on se trompe de débat »
IPE, June 2008, “Squeezed from all sides”
Agefi, June 2008 “Pension funds face regulatory hurdles”
Agefi, June 2008 “Regulations that focus too heavily on the short-term are
counter-productive”
Interview with EDHEC Risk and Asset Management, July 2007 (www.edhecrisk.com/Interview)
Financial Times, Mar. 2007: “Solvency plan 'still flawed'”
Agefi, Feb 2007: “L'Edhec pointe du doigt les inconsistences persistentes des
Solvabilité 2”
Global Reinsurance, Feb 2007: “Solvency II inadequacies remain”
Financial Times, Nov. 2006: “Ceiops Solvency study criticized”
Les Echos, Nov. 2006: “L’Edhec critique l’étude d’impact QIS2”
Languages spoken
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French (Mother Tongue)
English (Working language)
Portuguese (Teaching degree)
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