Françoise Gilles

Françoise Gilles
Born	Belgium
Citizenship	Belgium
Education	Civil Engineer Master in Actuarial Sciences
Alma mater	Université Catholique de Louvain
Occupation(s)	Group Chief Risk Officer Actuary
Employer	AXA
Known for	Enterprise risk management Strategic planning
Title	Group Chief Risk Officer
Term	July 1, 2023 – Present
Predecessor	Renaud Guidée
Board member of	AXA Group Management Committee CRO Forum (Chair) World Economic Forum Chief Risk Officers Community

🏢 Françoise Gilles is a Belgian finance professional and currently serves as the Group Chief Risk Officer (CRO) of AXA, one of the world’s leading insurance groups. In this capacity, she sits on AXA’s Group Management Committee – the executive team steering the company’s global strategy. Gilles is widely respected for her extensive experience in risk management and strategic planning across multiple continents. She has accumulated over 25 years in the financial services industry, holding senior roles in Europe and Asia that honed her expertise in enterprise risk, asset-liability management, and business development. This breadth of experience, combined with a reputation for analytical rigor and collaborative leadership, led AXA’s CEO Thomas Buberl to praise Gilles’s “leadership and…experience as Chief Risk Officer across different entities and regions” upon appointing her to the top risk role in 2023.

🛡️ Risk mandate. In her current mandate as Group CRO, Gilles oversees AXA’s global risk management framework and plays a key role in shaping the group’s strategy to “ensure the robustness and sustainability of the Group’s performance”. She is responsible for identifying and analyzing emerging risks – from natural catastrophes to cyber threats – and for developing models and mitigation plans to protect the company and its clients. Under her leadership, AXA’s risk function contributes directly to strategic initiatives, such as the company’s new “Unlock the Future” plan for 2024–2026, by setting common risk appetites and fostering a “common risk culture” across all business units.

📈 Industry recognition. Industry peers have also recognized Gilles’s standing in the field. In late 2025, she was elected Chair of the CRO Forum – a high-level association of chief risk officers from major insurers – reflecting her stature as a leading voice in risk management internationally. As AXA’s risk chief, Gilles is known for balancing quantitative discipline with strategic insight, helping the group navigate complex challenges while maintaining a strong capital position (AXA’s Solvency II ratio reached a record 227% at end-2023). Overall, she is regarded as a dynamic and seasoned executive who bridges technical expertise with broad business vision in the insurance industry.

~*~

Early life and education

🇧🇪 Belgian roots. Françoise Gilles was born and raised in Belgium, a background that set the stage for her cosmopolitan career in finance. From an early age she showed an aptitude for mathematics and problem-solving, which guided her academic path into engineering and actuarial science.

🎓 Academic foundations. Gilles earned her higher education at the Université Catholique de Louvain (UCL), one of Belgium’s premier universities. In 1998, she graduated from UCL as a Civil Engineer, a rigorous program that provided a strong foundation in applied mathematics and analytical thinking. She further specialized her expertise by obtaining a Master’s degree in Actuarial Sciences (with a focus on insurance, banking, and finance) by 2002, also from UCL.

🧠 Analytical mindset. This dual academic background – in engineering and actuarial science – equipped Gilles with a quantitative and methodical approach to problem-solving, as well as a deep understanding of financial risk models. Gilles is a certified actuary, and she credits her education for instilling a data-driven outlook that would prove invaluable in her later roles. The combination of an engineering mindset and actuarial training shaped her professional perspective: she learned to tackle complex financial problems systematically and to appreciate the importance of statistical modeling in risk assessment. These formative experiences at UCL not only gave Gilles technical proficiency in areas like asset-liability management and stochastic modeling, but also helped cultivate the disciplined, analytical style that she would carry into her early career. Her academic achievements laid the groundwork for a seamless entry into the finance industry at a time when European financial institutions were increasingly valuing quantitative risk expertise.

~*~

Career trajectory

Early career (the foundation)

🏦 Banking beginnings. Gilles began her professional career in 1998 in Belgium’s banking sector, where she built a solid foundation in financial risk management. Her first role was at ING Group in Brussels, where she started as an actuary and quickly became involved in Asset-Liability Management (ALM) and valuation projects. During her initial years at ING, Gilles gained hands-on experience with balance sheet risk – analyzing interest rate and liquidity mismatches – and learned to develop models to ensure the bank could meet its long-term obligations.

📉 Crisis management. After four years, in 2002 she transitioned to Fortis Bank, another major Benelux financial institution, taking on the role of a Market Risk Manager. In this capacity at Fortis, she was responsible for monitoring and mitigating market-related risks (such as fluctuations in interest rates and foreign exchange) that could impact the bank’s investment portfolio and trading operations. Gilles’s stint at Fortis, which lasted roughly seven years, coincided with an era of financial industry upheaval – including the 2008 global financial crisis – that tested and sharpened her risk management skills. Colleagues from that period note her steady analytical approach and her ability to navigate complex regulatory changes, as European banks were implementing new capital and risk controls in the late 2000s.

🔄 Senior leadership. By 2009, Gilles had accrued over a decade of experience across two banking giants, distinguishing herself as an expert in ALM and financial risk. That year, she returned to ING in a more senior capacity, being appointed as the Head of ALM & Capital Management for ING’s Belgian operations. In this leadership role, she oversaw the balancing of assets and liabilities for the bank and the optimization of capital buffers, ensuring compliance with evolving solvency requirements. Her responsibilities included scenario testing for economic stress conditions and advising the bank’s executives on risk-adjusted business decisions. Gilles’s tenure in banking also briefly included an entrepreneurial venture – in 2009 she was involved in a consultancy startup called Diapason SPRL, through which she provided risk and financial advisory services. While this independent endeavor was short-lived (as she soon rejoined ING), it exemplified her drive to apply her expertise in innovative ways.

🚀 Professional growth. Overall, this early chapter of Françoise Gilles’s career (1998–2013) was marked by progressive growth from a technical actuarial analyst to a strategic risk leader. She accumulated core skills in risk modeling, capital allocation, and regulatory compliance, and she earned a reputation for diligence and precision in managing complex financial risks. These foundational experiences in the banking sector set the stage for Gilles’s next big move – into the insurance industry with AXA – where she would leverage her banking-honed risk acumen and broaden her leadership scope.

The rise (pre-committee roles at AXA)

🇪🇺 European banking. In 2013, Françoise Gilles made a pivotal transition by joining AXA, marking the start of her rapid ascent through the ranks of the insurance giant. Her entry role at AXA tapped directly into her specialty: she was appointed Head of ALM and Capital Management for AXA Bank Europe in 2013. In this position, based in Belgium, Gilles was tasked with safeguarding the financial stability of AXA’s European banking subsidiary – managing interest rate risks, aligning the bank’s asset-liability profile, and ensuring sufficient capital under the Basel III and Solvency II regimes. Her performance in this role was notable; within a short span, she was promoted to the executive level of AXA’s banking unit.

🏛️ Board governance. By the mid-2010s, Gilles had become a Board Member and Chief Risk Officer (CRO) of AXA Bank Belgium, the retail banking arm of AXA in Belgium. As CRO and board director, she oversaw the bank’s risk governance during a period of significant industry change, steering the institution through ultra-low interest rates and preparing for stricter European banking supervision. She implemented robust risk controls and contributed to strategic decisions, for example by helping to de-risk the bank’s balance sheet ahead of AXA’s eventual sale of that banking business a few years later. Her leadership in this phase demonstrated her ability to translate technical risk insights into boardroom strategy.

🏠 Retail insurance. Expanding beyond the banking sector, Gilles next moved into AXA’s core insurance business in Belgium. She was appointed Head of P&C Retail at AXA Belgium, responsible for the Property & Casualty retail insurance division. In this role, which she held in the late 2010s, Gilles took on profit-and-loss management and operational oversight for consumer insurance lines (such as auto, home, and small business insurance). This represented a broadening of her expertise from pure risk management to general management.

📊 Performance optimization. She focused on improving the division’s performance and customer offerings – her title was in fact Head of P&C Retail Performance, indicating a mandate to boost efficiency, underwriting results, and market share in the Belgian retail segment. Under Gilles’s guidance, AXA Belgium’s retail portfolio saw improvements in underwriting discipline and digitalization of distribution, according to local industry reports. She championed data-driven pricing strategies and streamlined claims processes, which helped strengthen AXA’s competitive position in the Belgian market. This success at the national level earned Gilles recognition as a versatile leader capable of driving both risk excellence and business growth.

🌏 Asian expansion. In 2019, Gilles’s career took a significant international turn, and she was selected to join AXA’s Asia regional operations, reflecting the company’s trust in her capabilities to take on broader challenges. Relocating to Hong Kong, she became the Chief Risk Officer for AXA Asia, overseeing risk for AXA’s insurance businesses across the Asia-Pacific region. Concurrently, she was given the role of Head of the Insurance Office for Asia, a position that involved coordinating insurance strategy and best practices across multiple Asian markets. As regional CRO, Gilles was accountable for risk management in diverse markets including Hong Kong, mainland China, Southeast Asia, and India.

🤝 Regional integration. This period was crucial, as AXA’s Asian entities were experiencing growth and also undertaking major initiatives – for instance, AXA’s acquisition of the remaining stake in AXA Tianping in China in 2019 meant integrating a large Chinese P&C insurer into AXA’s fold. Gilles played a key role in aligning risk frameworks during such integrations and ensuring regulatory compliance across jurisdictions. She also served on the boards and audit committees of several Asian subsidiaries, such as AXA Tianping in China and AXA Philippines, providing risk oversight and guidance at the governance level. This on-the-ground involvement in Asia’s emerging markets broadened her perspective and allowed her to apply her risk expertise to new contexts like developing insurance markets and joint ventures.

🧭 Strategic development. By 2021, Françoise Gilles had proven herself as a critical contributor to AXA’s Asia strategy. She was promoted to Chief Strategic Development Officer (CSDO) for AXA Asia (and later Asia & Africa), becoming part of the regional executive board. In this senior role, Gilles was effectively the chief strategist for AXA’s Asian operations. Her mandate was to steer AXA’s strategy across the region, aligning it with the group’s global ambitions while tailoring initiatives to local market needs.

📈 Growth initiative. She led the formulation of the regional strategic plan, dubbed “AXA Ambition in Asia,” focusing on growth areas like health insurance, digital innovation, and partnerships in markets from Japan to Southeast Asia. Gilles also oversaw financial performance management – using her risk and finance background to set objectives and monitor KPIs for the region’s various country units. Under her strategic leadership, AXA’s Asian operations saw significant developments, such as the scaling of AXA’s health insurtech offerings and the expansion of its footprint in high-growth markets. Notably, colleagues credit her with enabling closer collaboration between the regional office and country CEOs, breaking silos to share best practices in products and risk pricing. By the time she left the Asia role in 2023, AXA Asia had increased its contribution to the group’s earnings (with Asia becoming one of AXA’s fastest-growing regions), and the region was better integrated into AXA’s global initiatives – a testament to Gilles’s impact as CSDO.

⭐ Executive readiness. Throughout this “rise” phase of her career, Françoise Gilles distinguished herself by taking on diverse challenges and excelling in each. She moved fluidly from managing balance sheet risks in Europe to driving business strategy in Asia. Her ability to deliver results in such varied roles made her a standout internal talent within AXA. It was this well-rounded track record – spanning risk, finance, and strategy – that ultimately positioned Gilles as a natural choice for AXA’s top executive ranks. By 2023, she had accumulated a rare blend of operational experience, regional insight, and risk management authority, setting the stage for her entry into AXA’s Group Management Committee.

Current mandate (executive leadership at AXA)

🔝 Top leadership. Françoise Gilles’s appointment to AXA’s Group Management Committee in 2023 marked the culmination of her steady rise and the beginning of her tenure at the highest echelon of company leadership. Effective July 1, 2023, she assumed the role of Group Chief Risk Officer, taking over from her predecessor Renaud Guidée. In this capacity, Gilles reports directly to AXA’s Deputy CEO in charge of finance and risk, and indirectly to Group CEO Thomas Buberl. Her elevation was part of a broader leadership reshuffle as AXA prepared to launch a new strategic plan for 2024–2026, and her inclusion on the top team underscored the importance of risk management in AXA’s future direction. Upon her promotion, AXA’s CEO highlighted Gilles’s extensive background, noting that “she will bring her leadership and previous experiences as Chief Risk Officer across different entities and regions” to the group role. Analysts viewed her appointment as a strategic move to strengthen AXA’s risk culture at a time of economic uncertainty and evolving insurance risks.

🌐 Global oversight. As Group CRO, Gilles’s mandate is comprehensive, and she is responsible for enterprise-wide risk management across all of AXA’s businesses (life insurance, property-casualty, asset management, and banking) in over 50 countries. Her department establishes the risk appetite framework for the group, defining the limits and thresholds for underwriting, investments, and operational risks that each local entity must observe. Gilles leads a global team of risk officers and actuaries who monitor exposures and ensure compliance with regulations like Europe’s Solvency II, which mandates insurers to hold sufficient capital for extreme events.

⚖️ Decision support. A key part of her role is scenario planning and advising on strategic decisions: for instance, she and her team provide an independent risk opinion on major initiatives such as large acquisitions, reinsurance arrangements, or entering new markets. She also chairs AXA’s internal risk committees and frequently reports to the Board’s Risk Committee, conveying an objective view of the Group’s risk profile and solvency position. Under Gilles’s leadership, AXA’s risk management function has been described as a “catalyst” that not only safeguards the company but also enables business innovation by sharing expertise and fostering a unified risk-aware culture across the organization.

🔮 Future planning. One of Gilles’s immediate focuses in her new role was contributing to AXA’s strategic plan “Unlock the Future” (2024–2026), which aims for growth in key segments and enhanced operational excellence. She has ensured that this strategy is underpinned by rigorous risk assessments – for example, refining AXA’s models for natural catastrophe risks and updating underwriting guidelines in light of climate change and geopolitical tensions. In late 2023, Gilles oversaw the publication of AXA’s 10th annual Future Risks Report, a global survey of emerging risks (like cyber threats and pandemics) which she considers vital for long-term planning. The insights from this report feed into the company’s innovation pipeline, aligning with Gilles’s view that “a long-term view of risk is essential to inform our strategy”.

💹 Financial strength. Quantitatively, her impact can be seen in AXA’s strong risk metrics: as noted earlier, AXA’s Solvency II capital ratio reached 227% at the end of 2023 – the highest in recent history – reflecting a very robust capital buffer under her risk stewardship. She has also championed risk prevention and sustainability initiatives, such as integrating climate risk into AXA’s investment decisions and promoting insurance solutions for emerging challenges (in a 2025 interview, Gilles emphasized the need to turn “uncertainty into progress” by building resilience against climate and social risks).

🗣️ Cultural influence. Up to February 2026, Françoise Gilles’s tenure as Group CRO has been marked by active engagement both within and outside AXA. Internally, she has been fostering what she calls a “common risk culture” – encouraging every employee, not just risk specialists, to be mindful of risk in their decisions. This is evident in AXA rolling out group-wide training and communication programs on risk awareness under her guidance.

🏛️ Industry advocacy. Externally, Gilles has become a prominent voice in the industry on risk and sustainability issues. In November 2025, she was elected Chair of the CRO Forum for 2026, a testament to her peers’ confidence in her leadership. In that capacity, she collaborates with risk heads of other major insurers to address systemic risks and share best practices – from climate change impacts on insurance to the implications of artificial intelligence in underwriting. She has publicly stated her commitment to “fostering best practices, addressing emerging challenges, and strengthening industry resilience” through such collaboration. Additionally, Gilles is a member of the World Economic Forum’s Chief Risk Officers Community, contributing AXA’s perspective on global risk trends. Her current mandate thus extends beyond AXA’s walls, positioning her as an influential figure in shaping how the insurance sector adapts to a fast-changing risk landscape.

🔭 Forward vision. Looking ahead, Françoise Gilles’s focus remains on steering AXA safely through the tail end of its “Unlock the Future” plan and beyond. This includes maintaining financial strength amid economic volatility, leveraging new technologies for risk modeling, and supporting AXA’s ambitions in areas like health and climate insurance. With her extensive background and steady leadership, Gilles continues to execute on her mandate of protecting AXA’s stakeholders – customers, shareholders, and employees – and ensuring that “the future does not constitute a risk,” as she puts it. Her balanced approach to enabling growth while safeguarding against downsides encapsulates the dual role of today’s CRO, and Gilles has become a defining example of this modern strategic risk leader at the top of a global corporation.

~*~

Personal life

🔒 Private profile. Despite her high-profile professional roles, Françoise Gilles maintains a relatively low public profile regarding her personal life. She is known as a private individual, and details about her family or daily life are not publicly disclosed. A Belgian national by origin, Gilles has lived and worked in multiple countries – including her home country Belgium, as well as Hong Kong during her Asia assignment, and now likely France given AXA’s headquarters – reflecting her international lifestyle and comfort with diverse cultures. Colleagues describe her as cosmopolitan yet grounded, someone who easily adapts to new environments while keeping strong ties to her European roots.

🌿 Core values. In terms of personal interests and values, Gilles’s statements and initiatives hint at a passion for education, sustainability, and collaboration. She has been involved in industry and academic partnerships, such as supporting the AXA Research Fund’s efforts to study emerging risks, indicating an intellectual curiosity and a belief in continuous learning. Outside of work, she has expressed that addressing societal challenges – from climate change to public health – is important to her, aligning with her professional focus on protection and resilience.

👥 Team philosophy. Gilles is also known for her mentorship of younger professionals within AXA; she often emphasizes teamwork and empowerment, suggesting a personal philosophy that success is best achieved through “strong risk management and collaboration” rather than individual heroics. While her hobbies or leisure activities are not publicized, those who work closely with her note that she brings the same energy and dedication to any pursuit that she brings to her career.

🧘 Life balance. Balancing a demanding job with personal life is a challenge for any top executive. Gilles has not spoken in detail about her family life, but it is evident that she values work-life balance and personal resilience. During her years in Hong Kong, she was described as someone who would make time to explore local culture and maintain well-being routines despite a busy schedule. This balanced approach likely contributes to her effectiveness as a leader. In sum, Françoise Gilles’s personal life remains mostly private, but her public actions reflect a person who is globally minded, committed to positive impact, and guided by a thoughtful, principle-driven outlook. Her journey from a small-town Belgian upbringing to the top tier of international insurance has been characterized not just by professional excellence but also by the quiet confidence and integrity she brings to both her work and personal endeavors.

~*~