Karrier Portál

Model Validation - Insurance Focus



  • NN RAS (Risk and Actuarial Services) is a Centre of Excellence for NN Group, focusing on top quality and efficient solutions. We serve as an internal centre of consultancy, training, innovation and automation. We support various quantitative departments at NN Head Office in the Hague (the Netherlands) and NN subsidiaries all over Europe.
  • NN RAS now opens a position to a Model Validator with insurance focus.
  • In this role you will be involved in temporary or regular validation activities supporting NN Group’s Head Office and local entities risk and actuarial departments. Being a model validator gives a unique opportunity to leverage your expertise in a wide range of modelling techniques and extend your business knowledge of various insurance products and related processes.

What matters to us

  • University degree in Econometrics, Financial Mathematics, Actuarial Sciences or related discipline
  • At least 5 years of experience in an actuarial or banking function or as quantitative modeler; using risk, pricing, cash flow models
  • Strong knowledge of insurance and /or financial products and markets (specific knowledge of the Central European and BENELUX markets would be a plus)
  • Understanding basic concepts of Model Validation is an advantage
  • Advanced know-how in modeling techniques (AFM/R3S and/or Prophet and or MoSeS) is an advantage
  • Fluency in Python and/or R and/or SAS is an advantage
  • Advanced know-how in statistical modeling techniques is an advantage
  • Good analytical and communication skills in English, both oral and written, ability to plan, prioritize, distil, and present key messages with integrity and advise peer specialists, management, committees, internal & external auditors and supervisors
  • Ability to build positive working relationships and at the same time having a strong independent stance

What matters to you

  • Model validation tasks include – with special focus on insurance related areas:
  • Independent technical review of models
  • Perform effective challenge to establish whether a model is (in)valid for a given purpose
  • Delivery of high-quality validation reports, with quantitative and a qualitative assessment
  • Compliance with regulatory requirements (e.g.: Solvency II, IFRS) and NN’s Model Governance Framework (e.g.: Model Validation Standard)
  • Models in scope are (not exhaustive):
  • Cash flow models
  • Insurance, Market and Business risk models
  • Economic Scenario Generation models
  • Models related to regulatory reporting
  • Knowledge of Credit risk models is an advantage
  • High level, content driven communication with all relevant stakeholders in English

Build your business at NN! Why is it good for you?

  • Becoming part of a hard-working, international team with professional and expert colleagues
  • Exciting challenges within a multinational work environment
  • Plenty of opportunities to develop yourself: skills and development are high priorities at NN RAS
  • Competitive compensation scheme
  • Modern and informal working conditions with room for individual choices
  • International development possibilities

Are you ready? Apply to us!

  • In case you are interested in the position, please register and send your CV via our Career Portal.
  • Your files will be handled confidentially.

Details of position

Job ID: 2555
Position name: Model Validation - Insurance Focus
Place of work: Budapest
Job contract type: Permanent contract
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