Ageas is a listed international insurance Group with a heritage spanning 190 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow.
As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Luxembourg, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors.
Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of over 40,000 people and reported annual inflows close to EUR 32 billion in 2016 (all figures at 100%).
For the Ageas Risk department, based in Brussels, we are looking for a model validation officer.
Validation is a fundamental Solvency II requirement for institutions willing to qualify for an internal model approach to determine regulatory capital requirements and also after qualification. It requires insurance institutions to demonstrate that they have in place a rigorous process by which they can establish whether their internal model framework is sound or whether improvements are needed. Model Validation goes beyond a simple regulatory ‘box-ticking’ exercise, reflecting internal management priorities and covering all aspects of the internal model environment. Validation covers all the aspects of a model (strategy, data quality, methodology, testing, use-test…) and plays a role during the whole model life cycle (model development, review, change).
Your role contains the validation of Solvency II capital models and technical provisions – including underlying sub-models – for the whole group.
You validate capital models and technical provisions at group level and within its operational entities. This includes validation of the model strategy, methodology, data, computational aspects and processes:
You give an opinion on the conceptual and theoretical soundness of model methodology and assumptions.
You validate the correct implementation of the methodology in the chosen tool or code.
You validate the quality of the data used in the model.
You validate the model usage (use-test).
You establish the validation report intended for the management and the regulator.
You present the validation conclusions to the Model Control Board, at Group and at local level.
You participate to the continuous enhancement of the validation methodology.
We are looking for people who show competences in line with the function:
You have a strong quantitative background (Actuarial Sciences, Master or PhD in Mathematics, Statistics, Physics, or Civil Engineer)
You have a critical, conceptual and process oriented mindset.
You are open-minded and have good analytical skills.
You have a good knowledge of Solvency II, in particular Pillar 1 and 2. You have relevant experience (3-6 years) in ALM, Financial, Life or Non-Life risk management, and in particular in model development or validation.
You are able to have rapidly a deep understanding of new tools and techniques.
These strong cognitive and analytical competencies should be combined with a general view and ability to single out the essentials in a mass of complex information.
You have a good knowledge of Matlab, R and LaTex and, of course, in Microsoft Office (Excel/VBA, Word, PowerPoint, Outlook).
You have good communication skills, both orally and written.
You respect deadlines related to the assignments given to you.
You are proactive, flexible and able to work on an independent basis
Ageas values your talent and knows how to reward it. We offer you an attractive salary and fringe benefits. You will work in a stimulating international environment, with numerous opportunities for personal development. You will work independently within a dynamic team.
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