Finance and Economics Management & Business Others Other Science and Tech
3 - 5 Years
September 8, 2017
Senior Catastrophe Modeller
Aegon is looking to recruit an actuary to work as part of a dedicated Insurance Linked Securities team. This person will be responsible for the development of the strategy and the day to day management of an ILS investment portfolio for the Aegon NL general account. The successful candidate will be part of a new and innovative ILS team with a diverse set of responsibilities as would be expected of someone in a senior role.
Role and responsibilities
As the senior catastrophe modeller/actuary you will have the following responsibilities within the ILS team:
You are responsible for the development and ownership of the catastrophe risk models and methodologies
You will have regular interaction with various stakeholders and a significant point of contact and source of technical data for the wider team. Communication i.a. with, the local regulator, Insurance/Reinsurance Companies, Board members of Aegon NL
You will process and own month end risk calculations for internal and external stakeholders as a key driver for regular reporting.
You will design, deliver and maintain an automated Large Loss claims database and take ownership of the data ensuring its accuracy and integrity
Autonomous quotation and risk assessment on different particular (re) insurance lines
Support the pricing process for various investment opportunities.
Collaborate with the deal originator’s Risk and Modelling team and relevant third party modelling firms during the pre and post event calculation phase.
Prepare and present technical due diligence for each line written in addition to providing time series on a deal-by-deal basis to the deal originator’s risk and modelling team
Provide reliable and strong links with the underwriting and claims handling team, proactively seeking to enhance the delivered service.
Support the development of Solvency II methodology and technology
This role is the ‘engine room’ of the technical data to be used and interpreted by a variety of stakeholders and needs a bright, able and practical team player with a passion for data analysis. Profiel The modeller/actuary will be highly numerate with a high level of qualification up to Masters/Ph.D in a suitable subject such as Physics, Maths, Engineering or Natural Sciences/Meteorology and will possess certification in risk modelling or non-life actuarial studies.
Minimum of four to five years’ experience of working within property natural catastrophe re/insurance risk modelling environment with exposure to high volume of data analytics. Familiar with basic pricing and underwriting tools and a familiarity with risk models within the reinsurance industry (AIR, RMS, EQECAT and Impact Forecasting). Experience may include non-life related reserving processing.
Knowledge and Skills
Advanced skills in Microsoft Office in addition to knowledge and understanding of risk modelling toolkits coupled with general programming skills (R, SQL, VBA, Matlab, C#)
Superior analytical, numeracy and technical abilities with excellent interpersonal skills. Good verbal and written communication skills essential with experience of presenting to a varied audience
Ability to work under pressure and face challenges head on with flair and entrepreneurial spirit and initiative
An ability to continually seek to improve service and standards
A natural desire for development of yourself and your team members
Fluent in English. Fluency in Dutch is an asset.
Aanbod Aegon is one of the world’s leading providers of life insurance, pensions and asset management. Our Dutch roots date back to 1844. Today, we have operations in over 20 countries, including the USA where we’re known as Transamerica .
Over 29,000 Aegon employees help approximately 30 million customers take responsibility for their financial future. As of December 31, 2016 we managed around EUR 743 billion of our own and our customers’ investments. Our purpose is to help people achieve a lifetime of financial security. We’re committed to acting responsibly and to creating positive impact for our stakeholders through our business and investment activities. Our ambition is to be a trusted partner for financial solutions at every stage of life.
About Capital Management & Policies
CM&P is a growing department with the AEGON NL entity. It is growing partly due to new (types of) business, but also due to the introduction of Solvency II. These regulations determine that the triangle of risk, return and capital requirements needs to be in balance, but also that our future liabilities need to be valued at the appropriate market rate. Therefore the complexity of the CM&P responsibilities is increasing. This has the main advantage that you can learn more about capital management within CM&P than in any other Aegon unit.
The department consists for the largest part out of econometrists, mathematicians, physicists, computer scientists, and actuaries. Our risk underwriting analysts are mainly involved with insurance methodologies & technology. They are responsible for modelling our liabilities relative to our investments. Our ALM and hedging specialists use these models to determine the strategic positioning of our balance sheet and are in continuous contact with the funding teams of the department and our asset management department. Our funding teams focus on illiquid assets that require detailed knowledge and expertise, and therefore can provide an illiquidity premium over and above more traditional assets.