Financial Risk & ALM Actuary - Insurance Belgium

You will contribute to analyses aimed at understanding the evolution of Life insurance liabilities and their impact on the company’s financial and prudential risk profile.

Your responsibilities will include:

• Analysing and modelling Life insurance liabilities.
• Performing various actuarial and financial projections.
• Analysing cash flows and their evolution under different scenarios.
• Contributing to Asset & Liability Management (ALM) analyses.
• Assessing risks arising from the balance sheet and long-term liabilities.
• Participating in Capital Management activities.
• Contributing to analyses and reporting under Solvency II, IFRS 17 and Belgian GAAP.
• Working on topics related to reserves, reinsurance and co-insurance.
• Performing controls and challenging the consistency and reliability of results.
• Translating complex quantitative analyses into actionable conclusions for management.

You may also contribute to the preparation of reports and presentations for senior stakeholders and decision-making bodies.

Actuarial & Digital Transformation

An important dimension of the role concerns the evolution of actuarial working methods.

The team is progressively looking to automate, digitalise and improve its processes, allowing more time to be dedicated to analysis and less to repetitive tasks.

You may therefore work with tools such as:

Python – Power BI – SQL – actuarial and projection tools – automation solutions – Data/AI applications.

You do not need to be a Data Scientist or Software Engineer.

However, we are looking for someone who sees technology as a lever for transforming and improving the actuarial profession. The ability to develop certain analyses or automations directly in Python would therefore be a significant advantage.

We are ideally looking for a professional with approximately 3 to 6 years of experience in actuarial work or a closely related quantitative function.

Ideally, you have:

• A Master’s degree in Actuarial Science, Mathematics, Engineering, Quantitative Economics or a similar discipline.
• Experience in Life insurance, Financial Risk, ALM or actuarial modelling.
• A good understanding of how Life insurance liabilities work.
• The ability to understand the interactions between assets, liabilities, capital and risk.
• Strong quantitative and analytical skills.
• Initial exposure to Solvency II, IFRS 17 and/or Belgian GAAP.
• A strong interest in data, automation and new actuarial tools.
• Ideally, some initial experience with Python, Power BI or SQL.

Knowledge of the Belgian insurance market would be an advantage, although candidates from other European markets may also be relevant.

A background in actuarial or Risk consulting could also be an excellent fit, provided you have a genuine understanding of Life insurance topics.

The Personality We Are Looking For

Beyond technical expertise, we are looking for someone who wants to move beyond the traditional actuarial role focused exclusively on models.

You are curious and naturally seek to understand what is happening beyond your immediate area of responsibility.

You are also:

• Autonomous and proactive.
• Able to take initiative.
• Curious about business-related issues.
• Comfortable challenging an analysis or methodology.
• Able to communicate technical results in a clear and understandable way.
• Assertive enough to speak up and defend your point of view.
• Interested in the technological evolution of the actuarial profession.
• Motivated by an environment where responsibilities can gradually expand.

Languages

An excellent command of English – C1 level – is essential.

French and/or Dutch would be an advantage but are not necessarily mandatory requirements.

Environment & Management

You will join a quantitative team of approximately 20 people, characterised by a high level of technical expertise and a diverse range of professional backgrounds.

The management approach is based on coaching, accessibility and empowerment. The objective is to enable team members to develop their expertise while gradually building their own career path within the organisation.

Over time, the role may therefore open up different career opportunities in Financial Risk, ALM, Capital Management, Actuarial, Product or other Life insurance-related activities.

Working Conditions

The position is based in Brussels and offers a particularly flexible working arrangement.

Office attendance is generally around 1 to 2 days per week, with no fixed mandatory office day.

The remainder of the week can be organised remotely depending on the team’s needs and activities.

• €4,500 – €6,000 gross per month

The package would be expected to include the standard benefits typically offered by a large Belgian insurer, although these remain to be confirmed. At this stage, the availability of a company car has not been confirmed and should therefore not be advertised.

Why This Opportunity?

This role is particularly well suited to an actuary who wants to broaden their scope of expertise.

Rather than working exclusively on IFRS 17, Solvency II, reserving or one specific model, you will have the opportunity to develop a broader understanding of how a Life insurer’s balance sheet works and how its different components — liabilities, assets, capital, risks and cash flows — interact.

It is also a strong opportunity for someone who wants to contribute to the evolution of the actuarial profession towards greater use of Data, Python, automation and AI, while maintaining strong financial and actuarial expertise.