This position will report to the BSR Head of Valuation & Capital, who then reports into the BSR CFO. The Modeling Actuary is responsible for the ongoing maintenance and future development to the suite of actuarial and capital models. Specifically, this position will take the lead in developing and maintaining the modeling system including modeling platform, coding & tooling needs, documentation, controls, and governance. This position will also work closely with other departments such as IT to ensure hardware, software & licensing, and distributed computing are maintained and advanced in line with industry development (technology and business case). As this role sits within the Valuation and Capital department, an intricate understanding of the business need is expected of this candidate
The key purpose of the function is to maintain the existing actuarial model (built in MoSes) used for the purpose of liability cash flow projection and financial/capital aggregation. The current MoSes model has been developed starting the end of 2015 and officially rolled out for use in year-end 2016. The model inner working and architecture is built on what we consider extremely high standards and the expectation is for this role to further enhance the model for scalability of new business needs and for new reporting requirements (i.e., IFRS 17) without compromising these standards.
The scope of work of this position include meeting financial, actuarial, risk, and capital reporting requirements in a timely manner while ensuring accuracy and completeness of the deliverables, whether quantitative or qualitative. This position will also have the opportunity to develop valuation models (liability, capital and ALM models) and to continue to bring process enhancements (methodologies, validations and controls) to the valuation and capital reporting process.
- Ensure actuarial models are maintained to perform cash flow projections and aggregation/reporting under applicable financial reporting frameworks, as well as risk and capital modeling as required under Solvency II and the Internal Framework;
- Continue with ongoing developments and enhancements to the modeling framework to ensure future business needs are met and for the scalability of BSR as a growing reinsurer;
- In the short-to-medium term (3-5 years horizon), take a lead in IFRS 17 implementation with respect to actuarial data and modeling systems, taking into account cross-organization requirements of other departments;
- Adhere to strict discipline towards model governance topics such as version controls as well as sound and complete documentation;
- Participate in model validation activities;
- Bring clarity to the team in terms of the model inner workings, capabilities, dependencies, limitations, and risk; both in terms of quality written documentation and verbal support.
- Support Blue Square Re projects and one-off tasks as needed.
- University degree in computer science and/or quantitative skills;
- 3-6 years working experience in actuarial or risk modeling (pricing model, valuation and reserving model, capital and risk model, etc.);
- Highly proficient in MoSes / Risk Agility FM (or related actuarial models), computer programming, and business tools from the Microsoft suites;
- Problem solving capabilities within the actuarial model with the ability to connect the modeling aspect to the larger business requirement;
- Knowledge of (at least basic) actuarial topics related to insurance product characteristics, valuation concepts and applicable reporting frameworks typical to a multinational European (re)insurance entity;
- Fluent in English (both written and oral).
- Excellent communicationskills;
- Assertive and adaptive in changing environments and situations;
- Integrity to uphold risk management principles;
- Process oriented yet pays attention to detail;
- Ability to keep the big picture of the organizational goal and dependencies in mind despite the model focus;
- Self-starter and able to work in teams.
We offer you a dynamic role, in which you work as a self-starting professional within this ambitious club. We find your personal development very important, which is why we invest a lot in our employees in the form of development and career opportunities. In exchange for your involvement and commitment, we offer you an extensive package of excellent primary and secondary employment conditions, such as:
• A nice competitive salary.
• A good work / life balance with at least 25 vacation days.
• Flex budget
• Possibility of up to 12 adv days (with full-time employment)