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Validation Officer Non-Life Risk

Prime: 1000 €

Type de contrat: Employé

Secteur: Financial Services (Banking & Insurance)

Lieu: Brussel/Bruxelles

Client :

Our client is one of the largest insurance companies in Belgium.

Description :

Your function

Validation is a fundamental Solvency II requirement for institutions willing to qualify for an internal model approach to determine regulatory capital requirements. It requires institutions to demonstrate that they have in place a rigorous process by which they can establish whether their internal model framework is sound or whether improvements are needed. Model Validation goes beyond a simple regulatory ‘box-ticking' exercise, reflecting internal management priorities and covering all aspects of the internal model environment.Validation covers all the aspects of a model (strategy, data quality, methodology, testing, use-test...) and plays a role during the whole model life cycle (model development, review, change).

  • Your role contains the validation of Solvency II capital models and technical provisions for the whole group.
  • You validate capital models and technical provisions; this includes validation of the model strategy, methodology, data, computational aspects and processes.
  • You give an opinion on the conceptual and theoretical soundness of model methodology and assumptions.
  • You validate the correct implementation of the methodology in the chosen tool or code.
  • You validate the quality of the data used in the model.
  • You validate the model usage (use-test).
  • You establish the validation report intended for the management and the regulator.
  • You present the validation conclusions to the Model Control Board, at Group and at local level.
  • You participate to the continuous enhancement of the validation methodology.

Your profile

  • You have a strong quantitative background (Master or PhD in Mathematics, Statistics, Actuarial Sciences, Physics, or Civil Engineer) and a critical, conceptual and process oriented mindset.
  • You are open-minded and have good analytical skills.
  • You have a good knowledge of Solvency II, in particular Pillar 1 and 2.
  • You have relevant experience (3-6 years) in ALM, Financial, Life or Non-Life risk management, and in particular in model development or validation.
  • You have a good understanding of economic capital modelling and of fair valuation models.
  • Priority will be given to Non-life actuaries.
  • You have a good knowledge of ReMetrica, ResQ or ICRFS, and you are able to have rapidly a deep understanding of new tools and techniques. These strong cognitive and analytical competencies should be combined with a general view and ability to single out the essentials in a mass of complex information.
  • You have a good knowledge of Microsoft Office (Excel/VBA, Word, PowerPoint, Outlook).
  • You have strong communication skills, both orally and written.
  • You respect deadlines related to the assignments given to you. You are proactive, flexible and able to work on an independent basis.
  • You are able to communicate in English.