Global Sr. Actuarial Risk Manager

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Full time
Risk
Den Haag
Aegon Netherlands

Are you seeking a career in an inspiring, enthusiastic, international, entrepreneurial and agile environment? Want to work at one of the largest Dutch Financial Institutions? Want to be responsible for our global underwriting risk? Aegon should be your next employer!

Position

As Global Sr. Actuarial Risk Manager you will have the opportunity to shape our underwriting risk  team (URM) on a global level. The global team provides risk subject matter expertise for actuarial items through review of initiatives, assumptions and results across all accounting paradigms. The department supports all global subsidiaries in implementing the underwriting risk framework and provides expertise where needed. The team monitors underwriting risk exposures of the group and compliance with the group aspects of the relevant group underwriting risk policies. The team is responsible to ensure that appropriate information regarding underwriting risk is prepared for use for the Global Risk & Capital Committee, Management Board and Supervisory Board. URM also shares responsibility for financial reporting with Group Finance, covering MVN and Solvency II, risk and capital reporting, and IFRS.

You will be part of an international team that is managed by an international experienced Chief Actuary. You will work within an inspiring environment where this is a clear vision underwriting risk. You will have the opportunity to challenge risk issues with all global subsidiaries.

Key Responsibilities:

  • Providing subject matter expertise to IFRS reporting, including reserving, hedge and fair value accounting, Deferred Acquisition Costs (DAC) , Value of Business Acquired (VOBA), goodwill and other items of actuarial nature
  • Providing expertise on Liability Adequacy Testing (LAT) and understanding differences with local regulatory tests
  • Provide subject matter expertise to understanding difference between the solvency II balance sheet and the IFRS balance sheet
  • Provide subject matter expertise to understanding difference between Solvency II and Aegon’s economic framework
  • Provide subject matter expertise to the implementation of IFRS 17 insurance accounting and actively participate in the implementation project of this standard to be implemented in 2022.
  • Take a leading role on identifying business strategy impacts and impact study for implementation of IFRS 17 insurance accounting
  • Provide subject matter expertise forming accounting policies on actuarial items
  • Support global assumption review planning for IFRS and SII
  • Review and challenge consistency of actuarial items across jurisdictions
  • Supporting assessment of impact of non-economic and economic assumption changes on reported (actuarial) results prior to reporting cycle
  • Review of actuarial items during reporting cycle
  • Support M&A activities with actuarial analysis, with focus on IFRS related aspects, including subsequent measurement items in case of purchase (i.e. link of M&A analysis to subsequent establishment of IFRS balance sheet)
  • Execute on actuarial deep dives on topics identified in the reporting processes
  • Support pricing governance assessment on IFRS matters

Requirements
We’re looking for a strategic, forward-thinking and international experienced actuarial professional who has significant within the insurance industry and/or insurance consulting industry. Your leadership skills will be put to the test in this role as you will be overseeing large projects and managing complex process streams too. Senior management will be turning to you as a trusted subject matter expert to drive business results and provide actuarial direction to support pricing strategies for our products and more.

Moreover, you have the following qualifications:

  • Strong actuarial modeling experience in valuation and projection (GAAP, Statutory or ALM). Minimum of 7 years actuarial modeling experience is required; broad experience in Prophet or Moses modeling is highly preferred.
  • Strong U.S. financial accounting framework knowledge and experience. The experience in and/or strong appetite to learn other frameworks (IFRS 17, and Solvency II) is a plus.
  • Strong quantitative and analytics skills, including the ability to understand concepts and assess situations in a timely manner.
  • Broad understanding and relevant experience with Life and/or Annuity products.
  • Strong multi project management skills.
  • Creative problem solver and decision maker.
  • Able to challenge conventional practices and pursue continuous improvement.
  • Strong interpersonal and communication skills, including the ability to communicate effectively with associates and executives on an international level.
  • Experience and knowledge of insurance markets in North America is a plus.
  • International experience required.
  • Fluency in English (both written and oral).

Terms and conditions of employment
We offer you an interesting position where you work independently and professionally in an ambitious and dynamic organization. Growth and development are important to us, that is why we invest amply in our employees in the form of development and career possibilities. In exchange for your commitment and efforts we offer you an extensive and excellent package of pay and benefits, e.g.:

  • a competitive monthly salary;
  • in addition you receive a fixed 13th month’s salary and holiday allowance in the form of a monthly flexible budget of 16.7% of your monthly salary;
  • good balance between work and private life with at least 27 holiday days;
  • an appropriate commuting allowance;
  • excellent pension scheme and discount on Aegon products.

Interested?
Does this role appeal to you? We then look forward to receiving your cv and motivation via our application form on this website. An online assessment is part of the selection process. For more information about the application procedure you can contact Dave Heilbron, Sr. Talent Acquisition Manager Dave.Heilbron@aegon.com or +31 (0)6 83 25 44 97