Our client, a consultancy company, is looking for a Consultant Manager – Actuary to strengthen its teams.

Here are a few examples of missions a Consultant Manager could be assigned to:

• Support the clients in the implementation of IFRS17.
• Analyze and review the architecture of ALM models.
• Develop a prospective model using actuarial modelling platforms .
• Take part in a pricing and renewal campaign for a reinsurer.
• Asses the Solvency II risks (standard formula and  internal model).
• Advise a non-life insurer on the changes to be made on its internal model.
• Implement Best Estimate provisioning model.
• Advise a life insurer on the revaluation of its life contracts.
• Provide your technical expertise for the modelling pf specific risks (construction, credit, medical liability…)
• Define a modelling approach for operational risks.
• Calibrate and test a scoring model/
• Value an insurance company in the context of a MCEV or a merger/acquisition.

Profile

• Hold a master’s degree in actuarial science and be a qualified actuary from the  French Institute or another actuarial association/Institution.
• Have between 5 and 9 years of professional experience on actuarial topics.
• Have a first experience in people management and sense of pedagogy.
• Technical expertise in Life or Non-life.
• Technicality, rigor and ability to lead different actuarial projects at the same time.
• Innovative spirit and willingness to take on commercial, managerial and strategic challenges, while bearing in mind the client satisfaction.
• Excellent interpersonal skills, customer orientation and team spirit.
• Fluent in French and English.

Our client, an insurance company, is looking for an Actuary who will be responsible for determining the required premium for existing and new products, monitoring profitability, and calculating GAAP and IFRS reserves.

To do this, the Actuary will use statistical methods to analyse claims and portfolio developments and actuarial software to estimate future developments. The recruit will work as part of a dynamic and motivated actuarial team, but he/she will also work closely with other colleagues within the company.

More specifically, the Actuary will contribute to the following tasks :

• Determining the premium for new individual and group products
• Making recommendations to adjust premiums for existing products
• Monitoring the profitability of products and the portfolio
• Calculating provisions on the basis of various technical parameters and explaining changes
• Estimating the actuarial assumptions to be used for premiums, reserves and Solvency II
• Automation of calculation and reporting processes
• Ad hoc analyses on internal or external request (e.g. actuarial function, risk management, parent company, auditor, Assuralia, ...)
• Taking part in the IFRS 17 project
• Presentation of results to colleagues, management and other stakeholders

Profile

• Master’s degree in Actuarial Science, Mathematics or Economics
• Prior experience in a similar function
• Good knowledge of MS Office programs
• Knowledge of actuarial and/or statistical software such as Prophet, ResQ and/or R is a plus
• Team spirit and collaboration
• Analytical skills and ability to combine facts and figures
• Critical thinking mindset
• Proactivity, curiosity, and sense of innovation
• Pragmatism and efficiency
• Ability to translate technical actuarial issues to colleagues and management, both in writing and orally
• Very good knowledge of English (written and spoken) and professional knowledge of French and/or Dutch

Our client, an international insurance company, is looking for Senior Life Product Actuary to join the Life Product Team.

The future Senior Life Product Actuary will be responsible for:

• Coordinating the activities and tasks for 4 team members and liaising with the other regional team.
• Design and implement the underwriting policy and optimizing the policy of profit sharing, according to the strategic goals of the company.
• Set up the pricing, the regulatory and IT evolutions regarding financial offers and products.
• Analyze product profitability using the internal model.
• Contribute to the development of the data model, actuarial and data science studies related to the life range.
• Support the sales and management teams by answering complex and/or technical questions and providing sales support tools in order to contribute to the customer satisfaction.

Profile

• Degree in actuarial sciences or equivalent
• At least 5 years of experience as a Life Actuary, working on products and pricing.
• Experience in savings profitability analysis.
• Good organizational and planning skills
• Ability to coordinate and supervise people
• Team player
• Good communication skills, ability to make presentations, and to present complex technical information to a non-technical audiences.

Our client, a bank-insurer, is looking for a Head of Market Risk to take over the Financial Market Risk Team. The new recruit will manage a team of 8 members. He/She will coordinate, supervise and guide the team in its activities, both from a technical and organisational point of view.

The team is mainly project-oriented, focusing on two areas in particular: market risk analysis and valuation risk. It conducts projects to identify and measure these risks, limit or mitigate them and calculate the corresponding capital requirements. The team also acts as a competence centre and can be assigned to various projects that may be related to, for instance, hedge accounting, margin requirements, case studies, analysis of profit and loss explanations, model governance, and much more.

Regarding market risk, the team is responsible for:

• The identification of significant sources of market risk and their analysis.
• The methodology (and tool) for the calculation of the Market Risk Capital Charge, including the choices of the internal model approach and/or the standardised approach under the forthcoming FRTB regulation.
• The methodology for internal calculations of the exposure value.
• Methodologies and tools related to internal market and reverse stress testing.
• Analysis of capital requirements to provide valuable information on the return on equity of different products linked to the arbitrage book.
• Proposing a risk framework, including the calibration of Greek limits based on the bank's risk appetite.
• Analysing new products or exits proposed by the dealing room and their implication for market (including XVA), credit and/or counterparty liquidity risks, as well as their capital consumption or any other element deemed relevant in order to provide a risk opinion for the approval process.
• Questioning and/or proposing hedging strategies.

Regarding valuation risk, the team is responsible for:

• The maintenance of the financial market governance model.
• The identification of significant sources of valuation uncertainty.
• The methodology for the independent verification of pricing and other controls related to the pricing of financial instruments measured at fair value.
• The methodology used to determine the IFRS level hierarchy.
• The methodology used to quantify fair value adjustments (market price uncertainty, model risk).
• The methodology and tool used for the conservative assessment of capital requirements.
• The methodologies and tools used to calibrate complex market data (volatilities, correlations, ...) not provided by the Front Office.
• The methods and tools used to price credit derivative transactions.
• The organisation of the Financial Market Fair Value committee where valuation and validation decisions are discussed with the Accounting, ALM, Front Office, Validation and other teams concerned with market risks.

In this context, the new recruit's responsibilities will be the following:

• Act as a coach, an inspirer and a challenger, be responsible for organising the team and setting objectives to ensure that the various projects are completed.
• Take ultimate responsibility for the results of your team.
• Manage a wide range of financial market risk projects and influence market risk frameworks and methodological developments.
• Develop and implement market risk strategy to ensure regulatory compliance (governance, choice between capital consumption methodologies...)
• Communicate complex methodologies and approaches to senior management and other stakeholders.
• Defend Belfius' market risk position regarding the external auditor and/or supervisory teams.
• Ensure consistency and integrity when establishing frameworks, methodologies, and processes. Ensure that they are defined in accordance with the Bank's risk appetite framework.
• Monitor regulatory developments to ensure timely regulatory compliance and market best practices to improve methodologies and organisation.
• Actively participate in the various committees related to the Market Risk activity and participate in the approval of new products and/or limits.

Profile

• Master's degree in Actuarial Science, Civil Engineering, Finance, Business or equivalent.
• 5 to 10 years of professional experience in an arbitration environment and experience in risk functions.
• Proven experience in leading projects and managing people.
• Experience in designing and implementing new organisations, processes, and systems.
• Excellent knowledge of financial markets, risk management techniques and regulatory requirements, with a particular focus on derivatives.
• Strong quantitative skills, including good knowledge of derivatives pricing and underlying assumption.
• Good communication skills (written and oral).
• Excellent interpersonal skills and ability to work in a collaborative environment.
• Decision-making and problem-solving skills with a strong sense of initiative.
• Fluency in French and/or Dutch, and at least a very good passive knowledge of the second national language.
• Good knowledge of English.

Our client, a bank-insurer, is looking for a Senior Quantitative Risk Analyst to strengthen its Financial Risk Team.

The recruit will actively contribute to a variety of missions:

• Analyse/question financial models used by the trading room.
• Assessing fair value and developing/refining methodologies for calculating value adjustments on collateralised and non-collateralised derivatives being arbitraged in the trading room.
• Challenge volatility hedging solutions; provide advice on compliance with the risk appetite framework.
• Monitor and implement regulatory developments/evolutions, such as Fundamental Review of the Trading Book, Prudent Valuation, Banking Act, SA CCR, etc.
• Maintain and refine the internal VaR model (and hence the risk-weighted assets) and the expected loss calculation.
• Developing pricing tools and making them available to the monitoring teams (credit derivatives, XVA, etc.)
• Challenge the proposals made by the trading room in terms of the valuation of financial products and the request for new products.
• Identify sources of model risk and propose a methodology to quantify model risk for a wide range of products and adjustments (CVA, FVA...)
• Document the methodologies used for legislators, auditors, validation department and corporate auditors.
• Calibrate stress scenarios and granular limits (greeks, scenarios...) for the Financial Markets business.
• As a financial products expert working in the FM Risk Management division, you will also provide support to your colleagues in the division.
• Senior management support.

Profile

• Master’s degree in Civil Engineering, Physics, or another equivalent discipline.
• Knowledge of the valuation of financial products such as swaps, swaptions, CMS, CDS, ABS swaps, etc.
• Knowledge of End User Tools (Microsoft Access, Microsoft Excel, VBA) and knowledge of C++, Matlab.
• Good understanding of value adjustment.
• Understanding of regulatory constraints or accounting principles surrounding financial markets activities is an asset.
• Writing skills.
• Ability to work in a group but also independently.
• Creativity, communication skills, good learning skills and proactivity.  
• Fluency in French and/or Dutch, and at least a very good passive knowledge of the second national language.
• Good knowledge of English.

Our client, a French insurance company operating on the European market, is looking for a P&C Pricing Actuarial Expert to strengthen its Product & Pricing Department.

The future Actuary will contribute to the development of P&C insurance products. In this context, he/she will have the following responsibilities:

• Collecting data from partners via insurance and non-insurance databases
• Identify the product needs of the company’s partners;
• Carry out statistical modelling of risks, determination of target profitability and pricing criteria;
• Develop pricing models and implement them in API through the company’s platform;
• Participate in the work on pricing innovation, particularly in the context of the automation of the company’s Product Factory and the modularity of the company’s offers;
• Present the results of his/her work internally and to distributors.
• Negotiate the sales prices of the proposed products;
• Follow the pricing strategy after the production launch, in collaboration with the company’s partners.

Profile

• Master’s degree in Actuarial Science or another equivalent quantitative field.
• At least 3 years of experience, ideally in a similar position.
• First experience P&C insurance products’ pricing.
• Modelling skills (GLM with Emblem, Akur8, open-source programming with R, Python…)
• Knowledge of machine learning models and data visualisation tools is an asset (PowerBI, Tableau…)
• Team spirit and project management skills.
• Analytical thinking and intellectual curiosity.
• Organisation and rigor.
• Fluency in English and French.

Our client, a French insurance company operating on the European market, is looking for a P&C Pricing Actuary to strengthen its Product & Pricing Department.

In the context of this position, and in support of his/her manager, the future Actuary will have the following responsibilities:

• Contribute to the development process of insurance products, including the modelling of algorithms and the initiation of pricing approaches to identify and measure the risks of the company's potential new business.
• Participate in the Data Science dimension and in new innovative pricing approaches.
• Be responsible for technical studies for pan-European tenders.
• Carry out risk analysis and pricing studies for the creation of various new P&C products.
• Present the results of your studies to the Product Manager and to the opportunity validation bodies.
• Participate in studies for the revaluation and recovery of portfolios requiring special monitoring in direct contact with the sales teams.
• Supporting the sales management in presentations or upgrading actions at the client's premises.
• Define technical orientations/advice in terms of product creation/evolution and design of management tools and methods.

Profile

• Master’s degree in actuarial science or another equivalent quantitative field.
• At least 3 years of experience in a similar position and knowledge of P&C insurance products
• Good modelling and pricing analysis skills
• Goog programming skills (R, SAS, Python...)
• Team spirit and project management skills.
• Analytical thinking and intellectual curiosity.
• Organisation and rigor.
• Fluency in English and French.

Our client, an insurance company, is looking for a Non-Life Reserving Actuary to strengthen its Actuarial Department. The future Actuary will work on Non-Life reserving activities. He/She will also hold responsibilities for harmonising and documenting IFRS and Solvency II related actuarial methods and processes and will develop as a key contributor to a wide range of finance transformation projects.

The future Non-Life Reserving Actuary key responsibilities will be as follows:

Reserving

• Manage the quarterly IFRS reserves process end-to-end for assigned European business units.
• Understand and analyse the quality of the data in terms of coherency, completeness, and consistency.
• Analyse quarterly IFRS reserves to determine the appropriate IBNR level for run-off and new businesses.
• Engage with local business units to present the corporate actuarial view on reserving.
• Proactively manage relationship with local finance departments.
• Contribute to harmonise and maintain the IFRS and Solvency II related actuarial methods, assumptions and calibration across all business units and lines of businesses.
• Engage with underwriting departments and develop as a subject matter expert on pricing/underwriting from a corporate actuarial view perspective.
• Contribute to the project aiming at implementing the IFRS 17 standards for assigned business.
• Contribute to the design, implementation and testing of a new data repository reserving workflow.

Processes and Controls

• Responsible for the design, implementation, and timely execution of internal controls applicable to the reserving process both for IFRS and Solvency II.
• Engage with the internal control department to provide relevant information and raise concerns or issues to the Actuarial Corporate Director.

Documentation

• Design and implement the documentation repository of the department.
• Draft assigned documentation related to technical methodologies or functional processes.

Profile

• Master’s degree in Actuarial Science,
• Qualification in a recognised actuarial association is an asset,
• 4 to 8 years of professional experience in P&C actuarial or risk management activities,
• Knowledge of SAS and/or ResQ is an asset,
• Good communication skills and assertiveness,
• Good project and stakeholders' management skills,
• Proactivity,
• Team spirit,
• Fluency in French and English.

Our client, an international insurance company is looking for an Asset Allocator to strengthen the Investment Department. Within the Portfolio Management team, which is responsible for the implementation of the investment strategy in the portfolios, the future Portfolio Allocator will be responsible for the following tasks:

• Drive the performance and wealth of the portfolios of the companies within the assigned scope.
• Define an investment program by asset class and implement the recommendations of the tactical allocation committee to the management companies by company/portfolio.
• Monitor performance and risk of asset classes under and outside of mandates in line with the portfolio construction project, the group's ESG strategy and the quarterly committees.
• Improve portfolio efficiency by optimizing long-term profitability through the allocation of new internal and external funds in collaboration with the entire portfolio management team.
• Contribute to the development of tactical allocation and portfolio construction tools.

The Portfolio Allocator will also have economic/market intelligence missions with a tactical allocation perspective.

Profile

• Hold a degree in financial engineering or market finance,
• At least 5 years of professional experience in an equivalent position, with good knowledge of multi-asset class allocation/strategies and willingness to discover new asset classes (private debt...)
• Proficiency in programming languages (R, Python or Matlab) and/or econometric software (Eviews...) is a plus.
• Excellent interpersonal and communication skills.
• Ability to adapt in a reactive and demanding environment.
• Autonomy and thoroughness.
• Fluent in English.