Quantitative Risk Management Officer

ERGO is one of the major insurance groups in Germany and Europe. Worldwide, the Group is represented in around 26 countries and concentrates on Europe and Asia. In its home market of Germany, ERGO ranks among the leading providers across all segments.

Objective of the Job:
Do you have an affinity for numbers? Do you show a particular interest in actuarial models used in quantitative risk management and beyond, or are eager to learn about them? Then this job is the right fit for you.

You will be part of the quantitative risk management team at ERGO Insurance. Depending on your interests and tasks in the team:

- you will be developing and maintaining, together with colleagues, the actuarial models (used for risk purposes, but also for IFRS17, profitability,), or
- using them in the context of regular Solvency II calculations, ORSA reports, profitability calculations, ad hoc advices,

In this, you will closely work together with the other colleagues in risk management, in other departments and at ERGO group level.

Responsibility and Tasks:
Depending on your personal interests and the task division in the team, you will focus on one or more of the following elements - together with colleagues:

- Developing and maintaining the stochastic valuation model for insurance liabilities in Prophet.
- Yearly updates of the model assumptions.
- Further developing the model in line with regulatory requirements.
- Preparing the model for usage under IFRS17.
- Quantitative analyses of the company’s risk position:

- Performing recurrent Solvency II calculations with analysis of the changes - including the mandatory regulatory reporting requirements.
- Executing the quantitative elements of the yearly ORSA (stress tests, projections,) - including taking up parts of the writing process of the report.
- Profitability analysis of our portfolio (MCEV like)
- Assessing the Asset and Liability Management
- Providing risk management advices to ad hoc questions.

Depending on your seniority, you will be in a leading or assisting role, or carrying out more or less complex tasks.

Internal and External Contacts - Hierarchical Position:
Internal contacts:

- All internal departments
- Colleagues from Risk Management, Actuarial Function, Finance,

External:

- Risk Management employees of ERGO IRM (Integrated Risk Management in Düsseldorf).
- Internal Audit
- NBB, FSMA

You report directly to the head of quantitative Risk Management.

Contribution to Operating Results:
As a result of the regulations on solvency requirements for insurance companies (Solvency II guidelines), the companies that will be able to survive will be those that have a competitive edge over their rivals and which conduct an appropriate and detailed policy on risk. Consequently, the Risk Management department plays a crucial advisory role in terms of the company’s position on the market. The Risk Management department’s activities relate to all areas within the company.

Additional Requirements (background, competencies):
You have the following capabilities and qualifications:

- Master with quantitative and/or economic orientation (Economics, Mathematics, Physics, Applied Sciences). An additional Master in Actuarial Sciences is a plus.
- Prior experience in Actuarial and/or Risk Management with knowledge of Solvency II is an asset. The function can be taken by senior or junior profiles.
- Knowledge of Prophet and/or SAS is a plus.
- Good knowledge of English (both spoken and written).
- Communication skills: producing written reports and establishing multiple verbal contacts with work colleagues and other departments.
- The ability to look beyond figures alone / insight into the company / to see the way the various factors connect.
- Perseverance to see things through (often very difficult assignments).
- Great eye for detail.
- Insight into processes.
- Team-player, but also able to work independently to complete a task successfully.

We offer:
At ERGO Insurance, we offer you a challenging job with learning opportunities (through training, coaching, projects, and internal mobility), all in the heart of Brussels (near the Grand Place and the main train station ‘Central’).

Besides a market-based gross salary, we offer an attractive package of fringe benefits:

- year-end premium (13th month)
- competitive insurance package (hospitalization insurance, guaranteed income insurance and pension plan)
- reimbursement of public transport in accordance with the applicable conditions
- monthly meal vouchers
- yearly eco vouchers
- a yearly gift voucher
- sectoral premiums
- collective company premium (CLA 90)
- internet allowance
- telework allowance

Moreover, you can also count on an attractive leave scheme (at least 32.5 days), flexible working hours and the possibility to telework up to three days a week. This way of hybrid working guarantees a good work-life balance.

Interested ?