Modelling Actuary

Modelling Actuary

NN RAS (Risk and Actuarial Services) now opens a position to a Modelling Actuary. In this role you will be responsible for enhancing cash-flow models. You will have a unique opportunity to leverage your proven expertise in modelling techniques and extend your business knowledge of various life insurance products and in IFRS 17.


Job description

In the Modelling Actuary role you will be responsible for enhancing cash-flow models. You will have a unique opportunity to leverage your proven expertise in modelling techniques and extend your business knowledge of various life insurance products and in IFRS 17.

You are responsible, amongst others, for:

  • Involvement in various actuarial modelling projects, focusing on cash-flow modelling
  • Such projects would cover:
  • developing new and enhancing existing deterministic and stochastic models in AFM/R3S
  • designing and implementing new functionalities in existing AFM/R3S models and Excel tools
  • working on the CRE regional model and on the business unit’s own models
  • support in model reviews, platform conversions (e.g. from Prophet, MoSeS), IFRS17 implementation
  • Good communication with all relevant stakeholders, 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
  • Excellent know-how in modeling techniques (preferably in AFM/R3S and/or Prophet and/or MoSes)
  • Good understanding of insurance products and markets (knowledge of the Central European markets would be a plus)
  • At least 3-5 years of experience in working in a (preferably life) actuarial 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[GE3] .
  • A position in Hay Level 15/16/17, scaling depends on knowledge and experience
  • An indefinite contract will be offered.[GE4]  The position is open for short and long term assignments as well.


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

Meet our people

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

As a Financial Risk Manager, I really have the opportunity to express myself.

Tom van Beek

Financial Risk Manager

We work according to procedures, but want to keep things practical.

Monique Abbink

Operational Risk Manager

It’s about striking the right balance between risk and return

Freek Zandbergen

Head of ALM & Hedging

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Modelling Actuary