Model Validator

**Contract**:

Permanent

**Work schedule**:

Full-time

**Location**:

Brussels

**Experience level**:

Junior (0->2 years), Medior/Experienced (2->5 years)

**What does this job entail?**:
The Risk Management team for KBC Group uses a number of **quantitative models to estimate financial risks and answer important questions. For example: ‘For which risks do we, as an insurer, need to reinsure ourselves?’ and ‘What kind of reserves do we need for our insurance policies?’**

But there’s an element of risk to using models: the so-called **model risk**. Does the model do exactly what it is supposed to do? Are we using it exactly as it should be used? Because if that isn’t the case, we may be making poor decisions that could lead to financial losses and damage to our reputation.

External regulations (Solvency II, IFRS 17, IAS 19) and our own risk governance therefore demand that our **quantitative models are challenged by an external party**. The validation team is that party.

**As the Model Validator for Insurances in our team, you test the models that are used for the risk management of our insurance activities.** You check and challenge them, both quantitatively and qualitatively. What does this result in? Better, stronger models that help us to **limit the risks linked to the use of models.**

**What do we expect from you?**:

- You independently perform **model validation **from A to Z.
- You **present the findings** of your work to model owners, Chief Risk Officers and Chief Financial Officers. On the basis of your analysis, your knowledge of regulations and business practices, you formulate a supported answer to the questions ‘Does this model do what it has to?’ and ‘Are we using it correctly?’
- You’re in contact with colleagues based in Belgium and abroad, and sometimes with external parties such as auditors and regulators. You are therefore building up an **interesting network.**:

- You contribute to discussions about **methodology.**

**Your key strengths?**:

- You have (at least) a **master’s degree in (applied) sciences**, such as mathematics, physics, civil sciences or (applied) economy.
- Your studies have already given you strong **quantitative and mathematical skills**. You’re still looking forward to developing them even further.
- You speak and write **English fluently**. That’s necessary to work well together with everyone.
- You and your colleagues have a shared joy of **continuous learning.** You’re always happy to impart your knowledge to others.
- Do you have **experience **with risk management, actuarial services or in insurance? Even better

**What can we offer you?**:

- We offer you an **exceptional range of training and development opportunities** so that you can develop your full potential. You can follow internal and external courses on hard skills and soft skills.
- You will receive a permanent contract with a competitive salary, including an extensive **package of additional benefits.**:

- Our offices are easily accessible by public transport. You’re also welcome to **work from home** part of the time.
- We value a good **balance between your work and private life.