Senior Reinsurance Actuary recruitment

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 fulfil 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.

ING Corporate Reinsurance (Corp Re) is an ING Corporate staff managing three reinsurance entities (one in the Netherlands and two in Ireland). The mission: is to transact traditional and non-traditional reinsurance to:

• Protect ING Group against excess risk exposures
• Protect ING BU’s against excess risk exposures
• Support ING BU’s with capital management and tax planning

The reinsurance transactions are consistent with ING Group’s risk tolerance levels, ING insurance risk management guidelines and within regulatory constraints.

Corp Re maintains ING Group’s Reinsurance Credit Risk Policy by compiling worldwide reinsurance credit risk exposure and Identify / communicate any limit breaches.

Job Description

The Senior Reinsurance Actuary will be responsible for producing and reviewing technical and analytical tools and information to support the development, negotiation and implementation of new reinsurance structures and programs. A variety of reinsurance projects will be assigned - such as modelling the financial impact of a reinsurance deal, validating rates or actuarial calculations and/or researching the impact of new reinsurance regulations.
 
Responsibilities:

A. Quantitative Analysis
1.    Performing and reviewing EC reporting/experience study and MCEV calculation for all reinsurance operation.
2.    Assist and review in developing, modelling and pricing innovative life and non-life reinsurance products with embedded options.
3.    Pro-actively improve and define EC/MCEV methodologies and implementation.

B. Financial Analysis
1.    Coordinate communication and support between various departments (Risk Management, Investment Management, Accounting, Account Management, Controlling) and the ING BU/s across the world regarding matters that concern Risk management.
2.    Assist with, produce and review various corporate reporting demands and in the overall planning processes for the business including, but not limited to, budget forecast processes, Embedded Value, Economic Capital Modelling, Solvency and Cash Flow projections.
3.    Set up reporting for senior management and streamline the overall reporting process.

C. Project Management Other
1.    Assist in setting strategy, policies, and guidelines for reinsurance operations,
2.    Taking a leading role in projects,
3.    Ability to manage a team of professionals
4.    Perform traditional actuarial review and reporting on PARP, pricing, and reserving (including trend analysis),
5.    Keep up to date with Dutch and European legislation and perform impact analysis of new legislation for Corporate Reinsurance.

Personal Profile
For this position, it is important that you are independent, flexible, pro-active and can deal with tight deadlines.
 
Furthermore
•    Bachelor’s degree in Actuarial Science.
•    3-5 years work experience.
•    Ability to translate theoretical outcomes to practical recommendations.
•    Strong communication and influencing skills.
•    Must be effective while working independently and as part of a team.
•    Basic managerial skills.