Quantitative Analyst recruitment
Working at ING Insurance / Investment Management (IM)
With ING’s Banking and Insurance/Investment Management businesses splitting into stand-alone companies, Insurance/IM is currently setting up international headquarters in Amsterdam. ING’s Insurance and Investment Management business currently employs over 30,000 employees and operates in around 30 countries with leading positions in insurance, retirement planning and investment management in both mature and developing markets. Next step will be to prepare for a Europe-led IPO with strong growth positions in developing markets and a US-focused IPO; while continuing to seek new ways to give our customers more control over their financial life.
ING is currently recruiting to fulfill key positions in the new Insurance/IM head office. Candidates applying for these positions will be expected to perform well under pressure and in a context of continuous transition and change. Working towards a new brand and an IPO clearly creates unique opportunities for people that don’t scare away from taking initiative and ownership and go for team results and big impact. What we offer is can-do culture that encourages initiative, integrity and empathy with what matters most to our customers.
Your department and challenge
ING Model Validation, part of Corporate Risk, supports the deputy CRO for Insurance on independently reviewing the performance of risk models applied within ING Insurance and delivers high quality validation reports. The risk models are used, amongst other, for risk management and to determine regulatory capital and economic capital in various risk areas. Model Validation also prepares and sets the standards of practice for local model validation.
In order to ensure its independency, Model Validation reports directly to the CRO. It is a young, international and dynamic team with short communication lines throughout the organization.
Your main responsibilities
Technical review of the Risk Models of ING Insurance worldwide, covering
• Solvency II Economic Capital Models: market risk (interest rate risk, equity risk, real estate risk, currency risk, and credit spread risk), insurance risk and business risk, and risk aggregation.
• Stochastic financial models used for market consistent valuation.
• Variable annuity products and other complex insurance products.
• Hedging models and risk mitigation techniques for insurance products.
• Actuarial cash flow models.
Deliver (parts of) validation reports which encompass both a quantitative and a qualitative assessment of a model, containing a mix of conceptual soundness developmental evidence, outcome and performance analysis.
Your experiences and competencies
- 0-3 years relevant work experience.
- Highly analytic person with a Master degree in economics, econometrics, actuarial or a related field.
- Knowledge of financial markets, financial instruments and financial risk management.
- Knowledge of statistical modeling, financial time series analysis and stochastic modelling within financial markets (e.g. derivative pricing, Monte Carlo simulation).
- Knowledge of actuarial science and (life) insurance products is a plus.
- Affinity with programming and IT tools such as Excel VBA, Matlab.
- Fluency in written and spoken English.
- Problem analysis and judgement
- Planning organizing
- Persuasiveness
- Empathy with the company
What we have to offer you
A challenging and interesting position in a global Insurance company. This is a position for 40 hours per week (alternative hours can be discussed) and is available immediately. The job grade is 9. Location is Amsterdam at the ING Insurance headquarters at ING House.
Application contact
If you have any questions on the content of the job or about the application procedure, please contact Jacquelien Wijdeveld by telephone +31 621 563 413 or via email jacq.wijdeveld-huisman@ing.nl
Apply directly online by clicking on Apply online.