Medior Risk Modeller

Would you like to work on quantitative risk models that directly affect the capital position and strategic decisions of NN Non-life? As a Risk Model Developer, you develop and maintain models that determine a material part of the non-market Solvency Capital Requirement and support broader financial and strategic decision-making.

The Financial Risk Management team develops and maintains the non-market risk models of NN Non-life. The model landscape covers property and casualty insurance risk, disability and health insurance risk, and business risks such as expenses and persistency.  Together with your colleagues, you work on one or more models, combining insurance data analysis and quantitative modelling with the development of sound methodologies that you can clearly explain, substantiate and defend to both reviewers and users.

Your main responsibilities are:

• Analyse historical insurance data and assess whether the data are sufficiently complete, accurate and representative for internal model purposes

• Develop, calibrate and substantiate quantitative model methodologies, assumptions and expert judgements

• Assess model performance through sensitivity analyses, backtesting and other quantitative analyses, and document the methodology and calibration in a clear and auditable manner

• Explain and substantiate methodological choices, assumptions, limitations and model results to a broad range of stakeholders, including actuarial colleagues as users of the models, and the Actuarial Function Holder, Model Validation and DNB as reviewers

• Understand and critically review the technical implementation of the models, including Python code, and develop shadow tooling and other controls where needed to verify model calculations and results

You are a quantitative professional who enjoys combining data analysis, programming and methodological reasoning. You do not accept model outcomes at face value and are able to critically assess whether a model is conceptually sound and fit for purpose.

• You have a Master’s degree in Econometrics, Mathematics, Actuarial Science or a comparable quantitative discipline, combined with relevant experience in quantitative modelling, risk modelling or capital modelling

• You have a strong understanding of statistical and quantitative modelling methods and are able to critically assess and develop methodologies, assumptions and expert judgements

• You can clearly explain and substantiate complex analyses and methodological choices to different stakeholders, including actuarial users, independent reviewers and supervisory authorities

• You have experience with Python or similar quantitative programming languages and are able to understand and critically review quantitative model implementations

• You have a collaborative and proactive working style and are able to build effective relationships with colleagues in Risk, Finance and the business

Experience with non-life insurance, Solvency II and internal models, insurance data, actuarial modelling or model validation is an advantage. If you bring strong quantitative modelling skills and the ability to learn quickly, we encourage you to apply even if you do not meet every preferred qualification.

• Salary between €5,339 and €7,119 based on 36 hours, depending on your knowledge and experience

• 13th month and holiday allowance are paid with your monthly salary

• 27 vacation days for a 5-day working week and three Diversity Days

• A modern pension administered by BeFrank

• Plenty of training and learning opportunities

• NS Business Card 2nd class, which gives you unlimited travel, also privately. Do you prefer to travel with your own transport? Then you can declare the kilometers travelled

• Allowances for setting up your home office and for internet use

You will join a team of nine professionals with backgrounds in econometrics, actuarial science, mathematics, physics and financial economics. The team combines risk modelling with broader financial risk management activities, while this position focuses on the risk modelling domain.

We are a relatively young team in which people work hard, enjoy working together and strive for high-quality outcomes.

We are open to new techniques, tools and ways of working, while remaining critical of our own models and methods.

Model development is a collaborative process. You will take responsibility for one or more models or model components, from methodological development and calibration through to implementation, governance and stakeholder challenge. Depending on your experience, this may include broader model ownership, coordinating the work of other team members and coaching junior colleagues.

You will also work closely with Finance, the Actuarial Function Holder, Model Validation and other first- and second-line stakeholders. This gives you exposure not only to quantitative model development, but also to how model outcomes are challenged, governed and used in financial and strategic decision-making.

If you have any questions about the job, you can reach out via phone or WhatsApp to Paul Fieten, Head of Financial Risk Management via +31657547124. Any questions about the process can be directed to Natalia Szymanski, Senior Talent Acquisition Specialist via natalia.szymanski@nn-group.com