Allianz

Let’s care for tomorrow.

Your ambitions. Your dreams. Your tomorrow.

At Allianz Global Corporate and Specialty SE (AGCS), we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Global Corporate and Specialty (AGCS) has the major risks covered when it comes to protecting businesses.

We are looking for a Head of Actuarial Risk Modelling (m/f/d) – based in Munich or Hamburg.

Your Team 

You will be reporting to the Head of Actuarial Function located in Munich. You will lead and manage the Actuarial Risk Modelling team to deliver results in time and manner, within a framework of sufficient governance, controls and checks.

The Impact You Will Have 

• Maintenance and continuous improvement as needed of insurance risk models within the internal risk capital framework
• Support capital-based business steering by calculating relevant KPIs
• Support capital optimisation initiatives in close collaboration with other CFO pillars
• Contribute to communication with regulators and other stakeholders
• Calculation of IFRS 17 risk adjustment, loss component and onerous contract testing as well as risk margin and premium provision for MVBS
• Provide guidance on reserve uncertainty analysis

Some of your specific responsibilities could include

• Lead and Manage team (direct reports): Provide employees with guidance on overall strategic picture and how own functional area's targets are aligned to it; Define clear and challenging targets, monitor progress and address performance issues appropriately and effectively; Drive organizational set up for own area of responsibility including personnel selection; Coach and develop employees in a continuously changing environment. Empower employees to execute tasks independently. Ensure peer reviews of team's work; Foster behavior of team members as desired according to #NewAGCS standards.
• Provide actuarial risk assessment: Ensure in time and correct updates of insurance risk models under Solvency II, provide reinsurance risk assessment and calculate Risk Adjustment under IFRS17; avoid mistakes and misunderstandings by enhancing quality and executing appropriate checks and controls. 
• Manage relationships and collaborate with all relevant stakeholders: Interface to Risk Management, Reinsurance, internal/external clients; Interface to Group Actuarial, Planning and Controlling (GAPC) and Group Risk; Effectively communicate with internal interfaces to develop deep understanding of underling business exposure and processes; Interface with regulators, with external auditors; Support project work and regional responsibilities within the department.
• Promote continuous improvements and drive for innovation: Develop global actuarial approaches and processes as well as enhance actuarial models and analyses; Keep abreast of leading market practice and drive innovation.

What You’ll Bring to the Role

• Excellent tertiary qualification (ideally Master), preferably in Mathematics, Statistics or other appropriate discipline or qualified by experience in related discipline
• Qualified Actuary
• 3 to 5 years of significant experience in industrial Actuarial management position, with deep understanding of actuarial practice
• In-depth knowledge of actuarial requirements of an international portfolio, with high volatile segments and challenging data availability
• Proven experience in leading and developing international and virtual teams within a complex global matrix environment and across numerous locations, experience in leading change in various business scenarios, including restructuring, integration and developing growth markets 
• Deep understanding of the product portfolio, of business financials (e.g. P&L, Capital Reports, etc.), cost management and macroeconomic trends 
• Robust knowledge of principles and practices of other relevant functional areas including Claims, Underwriting, Reinsurance and Accounting (particularly local and international accounting rules as applied to reserving)
• Data Modelling & Tools: Ability to understand the business needs and to develop the necessary data tools/models to support the business (e.g. rate development, risk capital, etc…)
• Excellent communication and presentation skills, good conflict management skills
• Excellent decision-making skills 
• Fluency in English required, German skills advantageous

23689 | Actuarial | Management | Allianz Commercial | Full-Time | Permanent

What’s in it for you?

Let’s care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We’ve got your back.

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Global Corporate & Specialty (AGCS) is a global corporate insurance carrier and part of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty

risks across 10 dedicated lines of business. Learn more about us by clicking here.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our company culture.

People with disabilities:

We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com

Recruitment Agencies: 

AGCS has an in-house recruitment team, which focuses on sourcing great candidates directly. AGCS does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.

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