Senior Insurance Risk Officer DCRO recruitment

ING’s Insurance and Investment Management (IM) is part of ING Group, a global financial institution of Dutch origin, offering banking, investments, life non-life insurance and retirement services to meet the needs of a broad customer base.

The Insurance/IM business includes a variety of life, non-life insurance, pension and asset management activities. These activities are divided into different business lines: Insurance Benelux, Insurance Central and Rest of Europe, Insurance US, Insurance Asia/Pacific and ING Investment Management. The business currently employs over 26,000 employees and operates in around 25 countries.

Since November 2010, ING has been preparing its Insurance and Investment Management businesses for eventual divestment.

ING is preparing for a standalone future for the European Insurance/IM businesses, including the possibility of an IPO. For the US Insurance/IM businesses, preparations for the base case will continue. For the Asian Insurance/IM businesses, ING is exploring other options.

During this restructuring, ING Insurance/IM will keep customer’s interest a priority in everything we do in order to successfully meet their expectations.

Your main responsibilities:
Corporate Insurance Risk Management globally controls financial insurance risks for ING Group in order to provide an efficient allocation of capital, profitable growth, required returns on economic capital and embedded value and predictability in earnings. Corporate Insurance Risk Management controls financial insurance risks by:

- Providing independent review, as well as policies guidelines, for financial insurance risks in ING Group.
- Advising the Executive Board on financial insurance risks.
- Being proactive in insurance risk management leadership, including product, reserve, and market risks, to business units internally and the industry externally.
- Providing clear, consistent, understandable and actionable financial risk management information.

Your experience and skills:
The Senior Actuarial Risk Officer is a specialist and has a fiduciary responsibility to protect the interests of shareholders and policy holders as well as a legal responsibility to comply with regulatory and accounting standards; in addition, the insurance risk officer also has a responsibility as a business partner with management to proactively identify, design and help to executing risk / return decisions which ultimately create shareholder value. These responsibilities are met by assuming two broad roles:

The Senior Actuarial Risk Officer has the responsibility to ensure that financial insurance within ING Insurance are professionally structured, underwritten, priced and managed using best practices and are within delegated authorities.

The Senior Actuarial Risk Officer has the responsibility to ensure that information provided to management and external stakeholders (e.g. regulators, rating analysts, the investor community, etc.) meets or exceeds minimum regulatory accounting standards, accurately and fairly reflect the economics of the business and is useful for supporting business decisions.

At Corporate Level, these broad roles are translated to the standard Risk Management Roles. The Actuarial Risk Officer will be active in a multiple roles as mentioned below
Reporting
Responsible for the production of standardized, objective Financial Risk reporting for internal management and external disclosure. Reports are delivered on time.

Regional Coverage Officer
Has a clear view of risk management capabilities and improvement potential at the regional and BU levels, and making action plan leading to concrete improvements. Has a clear understanding, articulation and documentation of key risk at the BU levels, including priorities and improvement plans (successful resolutions of key risk issues).

Knowledge Expert/Knowledge Network Leader
Develops, disseminates and supports implementation of minimum standards / practices Group best practices within the business line

External Spokesman
Develops and coordinates ING Insurance view on open regulatory and accounting issues (effectively communicating ING Insurance perspective).
Informs analysts and rating agency accurately and effectively on information disclosed externally

Project Team Leader/ Member
Ensuring that (sub)-project objectives are met on time, within budget and at the desired quality standard.

Your competences:
Who we are looking for?
• Academic degree in quantitative studies (e.g. mathematics, statistics) and preferably an Actuarial degree (AAG, FSA or FIA) or similar qualifications.
• 8 – 15+ years working experience in an actuarial entity within Insurance or Investment Management
• Exposure to Solvency II
• Strong verbal and written skills (work language is English)
• Team player

We offer you:
We offer you an interesting position in an open organization where personal development is given high priority. Together with your superior you will annually decide on the direction of your further development. ING offers wonderful opportunities in this respect, for working at ING means working in a challenging and varied environment.

• Job grade 14
• A 40-hour working week
• Generous training budgets
• Employee profit sharing
• A 13th month's salary
• Staff discounts on mortgages and insurance policies