P&C Risk Analyst ( m/f/x)

About us

The world around us is changing rapidly and so is the insurance industry. Now’s the right time to make a bold move and shape the future of insurance – this is Allianz Direct! As a pan-European online insurer of the Allianz Group, launched in 2019, Allianz Direct is on its mission to become the most customer-oriented and efficient insurer on the market. Allianz Direct is truly changing the face of insurance, in customer experience, and in technology, processes, people and culture.

An international team of business experts and engineers who live and breathe an agile way of working, are seeking to improve and change the way you do insurance. Driven by customer obsession and love for data, Allianz Direct strives for delivering an exceptional experience with a personal touch.

So, what makes Allianz Direct so unique? We believe in the power of simplicity and convenience and by doing so we have managed to set new standards when it comes to online insurance.

Job Summary

Allianz Direct is moving from a Standard Formula world towards an internal risk capital model for its P&C business – and we are looking for an actuary or quantitative risk professional who wants to be part of building it. Reporting directly to the CRO, you will help define and implement the methodologies behind premium risk (NonCat and NatCat), reserve risk and accumulation modelling, calibrate the relevant parameters on Allianz Direct’s pan-European portfolio, and shape how these modules are aggregated, validated and embedded into capital allocation, ORSA and business steering. This is hands-on actuarial work at the foundation of a young, digital insurer: the methodological choices, assumptions and documentation you contribute now will define how risk is measured and steered at Allianz Direct for years to come.

This is a unique opportunity to shape Allianz Direct’s quantitative risk framework from the ground up. Allianz Direct is currently moving towards an internal risk capital model, and you will be a key contributor to building, calibrating, and embedding this model in our processes – including the underlying methodologies, data foundations, and governance.

 Beyond the model build, you will work on a very broad range of topics: from regular risk capital calculations and scenario analyses, to the assessment of business decisions such as product developments, reinsurance purchasing, or strategic asset allocation.

We offer you a positive and dynamic team with exciting and varied tasks, and the chance to leave a real footprint on the future risk management of Allianz Direct.

Key Responsibilities

•    Contribute to the development, calibration, and implementation of Allianz Direct’s future internal risk capital model, including methodology design, parameterisation, and documentation.
•    Design and calibrate underwriting risk model components (e.g. premium risk NonCat, premium risk NatCat) and define the methodological basis for their integration into the overall risk framework.
•    Perform risk capital calculations under the current framework, additional scenario analyses, and model tests; help to gradually evolve these processes as the internal model is being built.
•    Analyse accumulation risks (e.g. Man-Made-Cat scenarios and NatCat) and contribute to accumulation steering.
•    Contribute to group-wide projects as well as support or coordinate various special topics, such as assessing upcoming product launches from a risk management perspective and reinsurance analyses to steer the risk appetite.
•    Prepare decision papers, presentations and analyses, in particular for the Risk Committee, Board of Management meetings and stakeholder meetings (internal and external).
•    Provide analytical input for internal and external reporting, in particular Solvency II reporting (ORSA, RSR and SFCR), and contribute to the annual update process for the Top Risk Assessment and the business and risk strategy.
•    Help build the data foundations, tooling, and governance required for a robust, audit-ready quantitative risk framework.

Required Experience & Qualifications

•    Strong university or university of applied sciences degree, ideally with a mathematical focus.
•    At least 5 years of relevant professional experience in an actuarial area of a P&C insurance company, or alternatively in quantitative risk management. A completed or ongoing actuarial qualification (e.g. DAV, FIA, FCAS, SAV) is desirable.
•    Sound understanding of the P&C insurance business and the related risks, preferably within the Allianz environment.
•    Experience in actuarial data preparation and with simulation tools.
•    Very strong analytical skills combined with a high numerical aptitude; strong conceptual abilities and the proven ability to quickly and consistently familiarise yourself with new topics.
•    Agile mindset and willingness to continuously develop concepts and methodologies further.
•    Very good audience-oriented communication skills, in particular the ability to communicate complex topics clearly.
•    Confident appearance, high degree of self-organisation and independent working style.

Technical Skills (Mandatory)

•    Strong applied knowledge of statistics, stochastic modelling, and/or simulation techniques relevant to P&C insurance.
•    Familiarity with risk and capital modelling concepts under Solvency II (e.g. SCR, risk modules, diversification, scenario analysis); experience in building or contributing to internal/partial internal models is required.
•    Proficiency in at least one programming language used for quantitative analytics (e.g. Python, R, or similar).
•    Good knowledge of actuarial data handling; experience with large datasets is a plus.
•    Solid Excel skills and experience with reporting / visualisation tools for risk dashboards and management reports.

Key Selection Criteria

•    Very strong analytical skills combined with a high numerical aptitude; strong conceptual abilities and the proven ability to quickly and consistently familiarise yourself with new topics.
•    Very good audience-oriented communication skills for complex topics.
•    At least 5 years of relevant professional experience in an actuarial area of a P&C insurance company, or alternatively in quantitative risk management – a completed or ongoing actuarial qualification (e.g. DAV, FIA, FCAS, SAV) is desirable.

Languages

Very good command of English (spoken and written); additional language skills are a plus.

99629 | Risk Management | Professional |  | Allianz Direct | Full-Time |

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 an 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, disability or sexual orientation.

Join us. Let's care for tomorrow.

Note: Having different strengths, experiences, perspectives and approaches is an integral part of Allianz‘ company culture. One means to achieve diverse teams is a regular rotation of Allianz Executive employees across functions, Allianz entities and geographies. Therefore, the company expects from its employees a general openness and a high motivation to regularly change positions and collect experiences across Allianz Group.