Life corporate actuary - Internal Model

The Benelux Life Corporate Actuarial department of Allianz is looking for an experienced actuary with strong internal model expertise.

Who are we?

The Life Corporate Actuarial department fulfills a key role within the company by protecting the stability of the company, i.e., ensuring it is financially resilient by determining adequate reserves. This secures our commitment to our customers. On top of that we enable / support profitable growth by challenging new business propositions. An holistic view is paramount: balanced risk / return trade-off while keeping the customers’ interest at heart.  In this expert international community, we enjoy cross-functional exchange in teams with diverse cultural backgrounds, while embracing a modern style of working. Finally: we learn from our mistakes, speak our minds, work & laugh hard while challenging the status quo!

Join our Corporate Actuarial team to strengthen the development, validation and use of the Solvency II internal model. You will combine actuarial expertise, modelling insight and sound judgment to assess risks, analyse results and support capital management and business steering.

Who are we looking for?

The Life Corporate Actuarial department is never at a standstill: we continue to enhance our models and processes, adopt new technologies, respond to evolving Solvency II and IFRS requirements, and strengthen management reporting. In this active and challenging environment, we are seeking a forward-thinking actuary with internal model experience to join our team. In this role, you will contribute to the development, calibration, validation and use of the Solvency II internal model, translate model results into clear business insights, and support robust risk and capital decision-making across the Benelux.

Your Profile

Must haves:

- Have a proactive and pragmatic attitude, with a track record of delivering complex actuarial or modelling projects
- Have the appetite to work in a regional setting with different cultures and approaches
- Hold a master’s degree in actuarial science, mathematics, econometrics, finance or another quantitative field

- Have 3+ years of relevant actuarial experience, including hands-on exposure to a Solvency II internal model, economic capital model or comparable risk-capital framework

- Be able to manage and challenge stakeholders at different levels, from technical experts to senior management
- Communicate fluently in English

- Have experience with actuarial modelling platforms and programming languages such as WTW RiskAgility FM, Python, R or C++, and be able to analyse model calculations, assumptions and large datasets

Relevant skills/experience seen as a big plus:

- Strong knowledge of Solvency II, including internal model governance, model change, validation and regulatory expectations
- Experience with Life insurance risks, including market, underwriting, lapse, expense, counterparty and operational risk
- Experience in Asset Liability Modelling, including analysis of asset and liability interactions under different economic scenarios
- Understanding of model calibration, stress and scenario testing, diversification, capital aggregation and attribution of changes in capital requirements
- Ability to explain complex modelling topics clearly and adapt your communication style to the audience
- Fluency in either Dutch or French
- Actuarial certification (AAG, IABE or another recognized actuarial association)

Your responsibilities:

Depending on your strengths and skills, we might ask you to

- Contribute to the development, calibration, maintenance and documentation of the Solvency II internal model and its underlying methodologies and assumptions
- Analyse internal model results, sensitivities and movements in capital requirements, and translate them into clear conclusions for management and business stakeholders
- Support independent model validation, model change assessments, use-test evidence and remediation of findings from internal or regulatory reviews
- Strengthen the internal model control and governance framework, including data quality, expert judgment, limitations, documentation and audit trail
- Work with Risk, Finance, Investment, Product and local actuarial teams to ensure consistent application of the internal model across the Benelux entities
- Provide input to relevant governance committees and explain model outcomes, key risk drivers, limitations and proposed model changes
- Contribute to strategic projects such as regulatory developments, portfolio or transaction assessments, capital optimization and implementation of new modelling technology

What we offer

- Excellent competitive salary package and secondary conditions.
- An engaging diverse team of experts spread out over the Benelux and Romania.
- Freedom to determine where & when you work (new way of working) – output driven.
- Development opportunities:
- We have a proven track record of promoting internal talent
- You get access to our Allianz’ global Finance community with leadership / expert classes and regular exchanges
- You have the ability to follow internal / external training (e.g. Xcelerate Academy, DataCamp)

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matter, and nurtures a culture grounded in integrity, fairness, inclusion and trust.We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us.  Let's care for tomorrow.

Having different strengths, experiences, perspectives and approaches is an integral part of Allianz‘ company culture. One means to achieve this is a regular rotation of Allianz Executive employees across functions, Allianz entities and geographies. Therefore, the company expects from its employees a general openness and a high motivation to regularly change positions and collect experiences across Allianz Group.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.