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.
You are responsible, amongst others, for:
- 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
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.
- 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
We offer 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.
- A position in Hay Level 14/15/16, scaling depends on knowledge and experience
- An indefinite contract will be offered.
How to apply
Do you have questions or do you need more information about the job or the application process, please contact Lili Horvay, Recruitment Specialist on +36 30 7908489 or on Horvay.Lili@nn.hu.