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Manager Quant Team Group Provisioning

Location: Madrid, Spanje
Salary: Bespreekbaar
Posted: 24 days ago
Contract Type: Permanent
Industry: Data Analytics & Quantitative
Contact Name: Reinier Hovius
Contact Email: reinier.hovius@ojassociates.com

Reinier Hovius

Managing Consultant, Netherlands

See more of Reinier Hovius's jobs

Manager Quant Team Group Provisioning

Unit Description

The unit Group Provisioning (GP) is a multidisciplinary unit with a range of responsibilities. They include the regular reporting of the Group's technical provisions under IFRS and Solvency II. They develop and maintain their own tools and models to support this process. The uniqueness of the company's products, combined with the size and heterogeneity of the portfolio, leads to interesting analytical, modelling and programming challenges.

The unit is based in Madrid and Amsterdam and consists of eight employees and several contractors. Within GP, the quant team is responsible for the maintenance, development and technical implementation of reserving and cash flow models. The team is multidisciplinary in the sense that it encompasses actuarial skills, knowledge of insurance products, underwriting systems and data and has technical implementation skills. This team is currently based in Amsterdam, but are building up a presence in Madrid, starting with the manager of the team.

GP has an important role in the Group's IFRS 17 program and is responsible for the development and implementation of the actuarial calculations required. The team's main analysis and programming language is R. As part of the IFRS 17 program, they are professionalising the processes further by developing a scalable Cloud based solution, including automated testing and deployment.

Tasks include:

  • Managing the quant team and contractors located in Amsterdam.
  • Provide support to GP's reporting team.
  • Further develop the target vision for the team's technical infrastructure and drive the implementation together with the ITS department.
  • Maintain the unit's technical implementation for producing IFRS 4 and Solvency II provisions.
  • Implement and improve models to predict all cash flows for all of the Group's insurance products as needed for IFRS 17.

Knowledge, Education and Experience

  • Master's degree in a quantitative science (e.g., physics, math, stats).
  • Experience working in an internationally operating insurer or bank.
  • Having worked in different countries is a plus.
  • Knowledge of R is a plus.
  • Experience working as a manager.
  • Experience with Agile project management styles is a plus.
  • Fluency in English with excellent writing skills. Knowledge of Spanish would be an advantage.

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