Actuarial Analyst (ESG)
NN RAS now opens a position to an Actuarial Analyst supporting the Economic Scenario Generation.
Are you curious how performance of financial markets translates into economic scenarios for evaluating options and guarantees in insurance liabilities?
In this role you will be responsible for preparing economic scenarios and market data input to be used by NN Group and its various business units for their standard reporting process and ad-hoc calculations and for supporting the users of our deliveries. You will have a unique opportunity to extend your business knowledge of financial mathematical models and the market data that drives them.
Your impact as an Actuarial Analyst at NN
- Perform calibration of stochastic financial mathematical models of interest rates, equities, and FX rates, using current market data like swap prices, swaption volatility surfaces, equity indices, and FX rates
- Generate risk-neutral economic scenario sets for regulatory purposes (Solvency II, replicating portfolio for NN Group’s SCR internal model, movement analysis and market-consistent valuations under IFRS)
- Create non-standard risk-neutral and real-world scenario sets for pricing, ALM, ORSA and other regulatory purposes
- Perform quality checks like martingale tests, goodness of fit, and correlation tests
- Maintain and enhance data enrichment tools used e.g. to calculate Volatility Adjustment and to bootstrap interest rate curves
- Good communication with relevant stakeholders in entire NN Group, mainly in English.
Using your own initiative and ambition, you achieve excellent results:
- Understanding quantitative business requirements and translate it to actual models
- Developing risk, actuarial and data science models in Python and R
- Creating new ideas for developments, such as automation or data science
- Good communication with all relevant stakeholders, mainly in English
We also care about you
Naturally our appreciation for our colleagues are reflected in our conditions of employment, which, for the most part, can be adapted to your own personal wishes. We offer you:
- Challenging opportunity within an exciting multinational, yet informal work environment
- Becoming part of a hard-working, international team with professional and expert colleagues
- Plenty of opportunities to develop yourself: skills and development are high priorities at NN RAS
- International development possibilities: exposure to experts from actuarial but also other disciplines (in NN RAS and NN International entities) and the opportunity to learn from them
- Modern working conditions with plenty of room for personal choices
- The job is for 40 working hours a week and the location is Budapest, Hungary.
- A position in Hay Level 14/15/16, scaling depends on knowledge and experience
- An indefinite contract will be offered.[GE1]
Whatever we do, we do together in an environment full of freedom where your personality, talents and ideas count. For example, collaborating with another team is quite the norm and regularly leads to better outcomes. We have no thresholds within NN; everyone is readily accessible and willing to help each other.
Meet your team
NN RAS (Risk and Actuarial Services) is an NN company supporting NN Group’s Head Office in The Hague, Netherlands as well as all European local entities, in actuarial and insurance mathematics related projects. NN RAS has about 30 employees and is located in the same building as NN Insurance Hungary in the city centre of Budapest.
The core tasks of NN Risk and Actuarial Services (NN RAS) are of cash flow and other quantitative model development and testing, process automation, giving trainings, economic scenario generation (ESG) and IFRS17. Employees typically rotate between these tasks. The team is international and depending on position can include travelling to our clients at NN entities across Europe.
NN is a large organization. If you start working with our team, you will work for NN RAS.
Thanks to your efforts, we make our financial services relevant and more personal.
Whatever your supporting role within the business, you offer your honest opinion and enthusiastic approach to all you do. Your customer-oriented attitude helps to encourage your colleagues. Together with NN, you help the whole world through various CSR projects. Active in 18 countries with over 17 million customers, you understand our work must be faultless. We must continuously innovate and invest in an agile business model. Thanks to your professionalism we earn the trust of our customers within all our subsidiaries, and there are quite a few: NN, NN Investment Partners, Nationale-Nederlanden, OHRA, ABN AMRO Insurance, BeFrank, Zicht, AZL and Movir.
We offer you modern employment conditions and generous employee benefits.
As an Actuarial Analyst, you will work from our beautiful office located in Budapest, Atrium Office, which offers an easy connection.
Critical skills of an Actuarial Analyst
- University degree in Econometrics, Financial Mathematics, Actuarial Sciences or related discipline
- Affinity with (risk-neutral) valuation of financial instruments
- Programming experience in at least 1 language (knowledge of Python and/or R is an advantage)
- Strong problem-solving skills
- 0-5 years of work experience in an actuarial or finance function
- Good analytical and communication skills in English, both oral and written
- A pro-active team player that can also operate as an independent professional, is self-sufficient in prioritizing and doesn’t need guidance in the day to day business
- Attention to detail
- Commitment to NN’s core values: Care, Clear, Commit
- Willingness to travel
Commit to NN
Are you seeking a dynamic position in an organisation where you are constantly challenging yourself? Then we would like to meet you. Upload your resume via the apply button.
Do you have any questions about the job or the application process? Please contact Edina Balogh, RAS Recruitment Specialist on +36 70 361 8063 or on Balogh.Edina@nn.hu.