Risk Manager - Internal Model

Who are we?

Allianz Benelux is a composite insurance company, offering both non-life and life/health insurance in Belgium and Netherlands. Additionally, our operations extend to Luxembourg, where we offer specialized life insurance products. We offer a wide range of non-life and life/health insurance products to both retail and corporate customers.

What will your role be?

Allianz Benelux is currently in the starting phase of IMAP (Internal Model Approval Process) project, a multi-year project aimed at securing regulatory approval for the use of the internal model. To drive this critical project forward, we are actively seeking new risk managers who can provide valuable support to Allianz Benelux in the IMAP project. The IMAP project offers a great opportunity to learn about the entire company and gain the responsibility and exposure necessary for professional growth.

We offer a role in the Risk Management department, specializing in Internal Model Governance & Qualitative Elements. This dynamic and flexible position is pivotal to the Internal Model Approval Process (IMAP) at Allianz Benelux. You will strengthen our Internal Model Governance framework, ensuring the model effectively integrates into business strategy, planning, and exposure management. While focusing on the qualitative aspects of our second line of defense, you'll also gain insight into the quantitative dimensions of the new internal model. This provides you with a comprehensive view across multiple business areas and creates an accelerated learning path for professional development.

Our Risk Management department has a strong track record of fostering career opportunities, ensuring professional growth and advancement for our team members. You will collaborate closely with cross-functional teams and stakeholders to ensure regulatory and Group alignment while achieving project objectives. Working alongside colleagues in Finance, you'll benefit from numerous opportunities for learning and development throughout your journey with us.

Your main responsibilities:

• Implement Internal Model Governance: Drive the implementation of the Internal Model Governance Framework through strong project management and stakeholder coordination, establishing an appropriate governance structure and ensuring solutions are pragmatic and proportionate to the task at hand.

• Coordinate Model Change Process: Coordinate the Annual Model Change process, i.e. the process that governs any changes to the internal risk capital model.

• Implement Qualitative Elements: Support the implementation of the Use Test, Data Quality Assurance and the Profit & Loss Attribution exercise, to assess and evidence that the Internal Model is widely and appropriately used.
• Stakeholder Engagement: Collaborate with internal and external stakeholders, to ensure clear communication, alignment, and transparency.
• Regulatory Compliance: Ensure that the internal model Aggregation Model meets all Solvency II requirements.

• Process Optimization: Drive efficiency within Risk Management by continuously improving processes and tools, e.g. automation with GenAI or programming languages, enhancing overall effectiveness and productivity.

What we expect from you

• Master’s degree in Business Economics, Business Information Technology, Law, or a similar field of expertise.
• 2 to 7 years of working experience in the field of Finance/Insurance.
• Assertive, structured, and pragmatic problem-solver who tailors solutions proportionate to the task.
• Proven project management expertise, delivering on time and within scope across multi-stakeholder initiatives.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively across teams and engage with C-suite executives.
• Detail-oriented and able to manage multiple priorities in a fast-paced environment.
• Able to communicate fluently (oral and written) in English. Dutch and/or French are a plus.
• Experience in Risk Management and Solvency II are a plus.
• Programming knowledge, e.g. Python, R, VBA, and quantitative skills is a plus
• At Allianz we are always enthousiastic about people interested in AI

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in. We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation. Join us. Let's care for tomorrow.