Flying Squad Actuary

You will receive

  • Multinational atmosphere, international career opportunities
  • Room to grow yourself professionally
  • Challenging, creative, solution-oriented work

You will bring with you

  • Curiosity to deepen your knowledge
  • Consultative attitude – excellent problem-solving skills
  • Eagerness to deliver top quality services to partners

Flying Squad Actuary

NN RAS (Risk and Actuarial Services) is a Centre of Excellence for NN Group, focusing on top quality and efficient solutions. NN RAS operates from Budapest (Hungary), where this vacant role is based. As NN RAS, we serve as an internal centre of consultancy, training, innovation and automation. We support various quantitative departments at NN Head Office in the Hague (the Netherlands) and NN subsidiaries all over Europe. Due to the increasing demand from Business Units and Head Office, the team is in a continuous and dynamic growth. Actuaries, mathematicians, data scientists, physicists and software engineers form the multinational team of NN RAS.

We care for employee satisfaction with high levels of empowerment, plenty of development opportunities, focus on healthy work-life balance and modern working conditions.

NN RAS provides support in 5 professional areas as an internal consultancy:

  • Economic Scenario Generation
  • Quant Development
  • Modelling & Scripting
  • Cashflow Modelling
  • Model Validation

NN RAS now opens a position to a Flying Squad Actuary. In this role you will be involved in supporting NN Group’s Head Office and local entities risk and actuarial departments in specific temporary or regular activities. Your specific focus will be support of NN Group’s Head Office in various model validation activities. You will have a unique opportunity to leverage your proven expertise in modelling techniques and extend your business knowledge of various life insurance, banking products and in IFRS 17.


Your impact as a Flying Squad Actuary at NN

Providing actuarial consultancy support for NN Group’s Head Office and local entities risk and actuarial departments in specific temporary or regular activities, such as:

  • Model validation,
  • Pricing, profit-testing, modelling, reserving, reporting and valuations (under local GAAP, EV, Solvency II principles),
  • ALM analyses; IFRS17 project;
  • Quantitative modelling projects, focusing on Python and R developments,
  • Process review and optimization tasks,

Model validation tasks include:

  • Independent technical review of models
  • Perform effective challenge to establish whether a model is (in)valid for a given purpose
  • Delivery of high quality validation reports, with quantitative and a qualitative assessments
  • Compliance with NN Model Validation Policy Framework and regulatory requirements (e.g. Basel, IFRS, Solvency II, ICAAP)
  • Models in scope are (not exhaustive):
  1. Cash flow models
  2. Insurance, Market and Business risk models
  3. Economic Scenario Generation models
  4. Models related to regulatory reporting
  5. Knowledge of Credit risk models is an advantage

Good communication with all relevant stakeholders, mainly in English


We also care about you

Here at NN, care is a core value. Just as you as our Flying Squad Actuary indirectly care for our customers, we also take care of you. We offer great development opportunities within a professionally inspiring, yet familiar work environment. For your career development, we facilitate:

  • Exciting challenges within a multinational work environment
  • Plenty of opportunities to develop yourself: skills and development are high priorities at NN RAS
  • Competitive compensation scheme
  • Modern and informal working conditions with room for individual choices
  • International development possibilities

Within the NN RAS Team, we work with a joint effort to deliver high-quality products to our clients from month to month. By joining us you will become part of a hard-working, international team with professional and expert colleagues with a desire to always achieve the best for the customer. At the same time, you will experience open communication and mutual support towards each-other within the team.


Our purpose

Thanks to your efforts, we make our financial services relevant and more personal. 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.


Clear conditions

As a Flying Squad Actuary, you will work from our beautiful, brand new office located in Budapest. We will offer you a local (no expat) contract with a competitive remuneration package according to the Hungarian labor market. We offer modern employment and working conditions with room for individual choices (ergonomic equipment, flexibility in working hours, opportunity to work remotely, etc.)


Critical skills of a Flying Squad Actuary

  • University degree in Econometrics, Financial Mathematics, Actuarial Sciences or related discipline
  • At least 5 years of experience in an actuarial or banking function or as quantitative modeler; using risk, pricing, cash flow models
  • Strong knowledge of insurance and /or financial products and markets (specific knowledge of the Central European and BENELUX markets would be a plus)
  • Understanding basic concepts of Model Validation is an advantage
  • Advanced know-how in modeling techniques (AFM/R3S and/or Prophet and or MoSeS is an advantage)
  • Fluency in Python and/or R and/or SAS is an advantage
  • Advanced know-how in statistical modeling techniques is an advantage
  • Attention to detail and delivering high quality products
  • Good analytical and communication skills in English, both oral and written, ability to plan, prioritize, distil and present key messages with integrity and advise peer specialists, management, committees, internal & external auditors and supervisors
  • 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
  • Ability to build positive working relationships and at the same time having a strong independent stance
  • Commitment to NN’s core values: Care, Clear, Commit
  • Willingness to travel


Commit to NN

You want to kick start your career in a dynamic company that offers plenty of future growth opportunities as well as the possibility to do assignments internationally? Then we would like to meet you. Upload your resume via the apply button.

Do you have any questions about the job? Then please call Edina Balogh (Talent Acquisition Recruitment Specialist) at +36 70 3618063. Applications can also be submitted directly to; your files will be treated confidentially.

Application procedure


If you are enthusiastic about the job we encourage you to apply online. We will then carefully look at your profile and let you know whether you’ll be invited to an interview within two weeks.


We are curious who you are, what motivates you and what you are looking for. But it is just as important that you get to know NN better. We aim for a maximum of two interviews in which you will meet the manager of the department, a direct colleague and a recruiter from NN.

Online assessment

The assessment consists of a personality test, a driver test and an intelligence test. We believe your personal qualities are very important and use this assessment to test whether you meet the NN Mindset. This will be an online test and the results will be shown  immediately.


Are we both enthusiastic after the interviews and the online assessment? Then we will gladly make you an offer to join NN. Click here for more information about our employment benefits.

Welcome new colleague

Congratulations with your new job! We will now start our onboarding procedure to secure a smooth start at NN.


We realize that applying for a job is an important moment for you. What matters to you, matters to us. That is why, after the application procedure, we invite you via e-mail to let us know how you experienced applying at NN. Thanks to your feedback we can make improvements to the way we work.

Meet our people

Would you like to learn more about working at NN? Read the testimonials and find out!

You get challenged in different aspects which makes you get used to wearing multiple hats.

Ide Boumans

Finance & Risk Trainee

You’re directly involved with the bank’s business model here.

Mark van der Zwaag

Market Risk Analyst

A company or an industry that has a transition ahead is where new ideas are valued. For me, that is a good place to be.

Praveen Sridharan

Global Risk Trainee

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