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Model Validation Officer - NN

Location: The Hague
Salary: € 4207 - € 6010 a month
Employment: Full-time
Together with your colleagues of Model Validation, you are in charge for independently validating risk-, cash flow-, valuation-, pricing- and hedging-models/method with a primary focus on the Solvency II related regulation.

As Model Validation Officer, you have an impact on the models that are used within NN for the Insurance and Banking business. Together with your colleagues of Model Validation, you are in charge for independently validating risk-, cash flow-, valuation-, pricing- and hedging-models/method with a primary focus on the Solvency II related regulation. As part of the overall model risk management process, MV provides model risk qualification as input for model risk management decisions, whilst ensuring adherence to the model risk standards from an internal and regulatory perspective.

Salary between €4.207,- and €6.010,- (based on 36 hours), depending on your knowledge and experience.

Model Validation has the mission to:

  • Be an integral and important part of the model risk management process.
  • Assess whether developed models are reliable, appropriate for intended use and in compliance with regulation.
  • Promote model risk management within the company.
  • Provide a better understanding of the limitations and weaknesses of a model and contribute to an on-going model development

MV issues detailed validation reports with qualifications of the identified model risk, thereby highlight-ing the main weaknesses and limitations of a model. Validation reports contribute to an on-going mod-el development by issuing recommendations and improving the model risk management cycle.

Your responsibilities

  • Independent technical review of applied quantitative methods and calculation tools having a material impact on figures that are used as management- / steering information to run the business or figures that are published externally. This includes all underlying models, like data processing models, assumption models and aggregation models. You are responsible for an effective technical review of a number of moderate and complex models, work according to planning, check progress versus planning and report when this deviates, thereby showing a self-reliant attitude
  • High quality validation reports; These reports encompass both a quantitative and a qualitative assessment of a model, containing a mix of conceptual soundness & developmental evidence, outcome, data quality, model governance, implementation and performance analysis. You are responsible for the delivery and guarding of high quality validation reports in an effective manner
  • Advice; The validation report includes an advice to various stakeholders and committees whether a particular model is (not) fit-for-use for a given intended use with specific recommendations for further improvements, that are concrete/practical for model owners and developers to follow up on You are able to present MV’s independent advice to committees and in meetings with stakeholders: i.e. Model Committees, the Management Board, the external accountant and the supervisor
  • Model Validation Framework; All standards and policies are compliant and consistent with relevant regulatory requirements. Whilst fostering the internal model risk management attitude you contribute and are responsible for the delivery and validity of the Model Validation Standard. You are able to present any part of this framework to our main internal and external stakeholders
  • Management; You are able to contribute to the optimal functioning of the MV team

Who you are

We are looking for a new colleague who has the ability to review processes in an abstract manner to identify and work on opportunities for (cost) efficiency and/or improving quality of deliverables produced. Who is customer oriented and able to build positive working relationships while at the same time having a strong independent stance and who has the ability to distil, prioritise and present key messages of MV to Model Committees, CRO and other key stakeholders (internal and external).

  • A Master’s degree in quantitative studies, like Econometrics, Mathematics, Actuarial Science, Physics, etc.
  • Over 5 years of experience in an insurance company as an actuary working on and using risk and cash flow models having strong knowledge of insurance products and/or quantitative modeller in the financial industry with a particular focus on asset/capital management modelling, preferably from a Model Validation perspective
  • Your main drive is to deliver high quality work
  • Quantitative intuition for oversight of modelling including ability to critically assess quantitative risk management models and draw key conclusions
  • Communication skills to advice peer specialists and management, committees, internal & external auditors and supervisors combined with strong writing skills

Your colleagues

The Model Validation team consists of highly experienced, skilled and all-round professionals with various nationalities and multi personality traits, like persistent, flexible, integer, etc. Next to this we are goal oriented and output driven. Do you wanna learn more about the Validation team and the manager Dion Hautvast: click on this video https://youtu.be/zz_kKFHU0Ag

Continue developing

It is important to us that you continue to develop yourself. We give you the space and the confidence to grow in your career as well as a person. We help you with:

  • Plenty of training and learning opportunities in our Learning & Development Centre
  • A large (international) network of colleagues who are keen to share their knowledge with you
  • The autonomy to set out your own development path

Employee benefits

You are more than a colleague and that is something we understand very well at NN. You have many roles in life, leading to different choices. At NN we give you the opportunity to select employee benefits that are important to you. For instance buying additional leave days and flexible working hours. In consultation with your manager and your direct colleagues, you are able to work out of any location at any time. You get enough flexibility to adjust your working pattern to your personal needs. Also part of the benefits are (currently online) sports lessons and a special allowance to set up your home office and internet use. In addition, you will receive:

  • Salary between €4.207,- and €6.010,- (based on 36 hours), depending on your knowledge and experience
  • Collective pension scheme with a personal contribution of only 6%
  • 194.4 hours of leave, based on a 36-hour week (that’s 27 vacation days for a 5-day working week) and one Diversity Day
  • Holiday allowance and a 13th month, paid with your monthly salary
  • NS Business Card 2nd class, which gives you unlimited travel 7 days a week. Do you prefer to travel with your own transport? Then you can declare the kilometres travelled for business and commuting.

Because of Covid-19, all NN colleagues are currently working from home fully digitally. It is currently not yet clear when we can return to the office. The official location for this job is The Hague.

Will you be our new colleague?

If you are enthusiastic about this vacancy and think that you would be a good fit for the team at NN, we would like to invite you to apply. We are very keen to find out who you are, what motivates you and what you can contribute to this role at NN.

Apply now

If you have any questions about the vacancy, you can reach out via phone or WhatsApp to Dion Hautvast (Head of Model Validation) via 06-22528950. Any questions about the process can be directed to Danitscha Mahadew via danitscha.mahadew@nn.nl .

This is a permanent position. A candidate will receive a contract from NN and we are not open to interim/freelance assignments and/or candidates or recruitment agencies. Thank you very much for your understanding.

Location:
The Hague

Information and application:

Apply:

Please send your application for Model Validation Officer at NN in The Hague including your CV via our website.

Job code:
REQ2672032
Job posted
24 juni 2021
Apply Now
More information:

If you have any questions about the vacancy, you can reach out via phone or WhatsApp to Dion Hautvast (Head of Model Validation) via 06-22528950.

Any questions about the process can be directed to Danitscha Mahadew.

contactpersoon
Linkedin
 
Contact:
Danitscha Mahadew
Recruiter
m. 06-15401981
E-mail

Read all about working at NN

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Postbus 60184
1320 AE Almere

Tel: 036 - 7440 136

KvK 32090652
ING Bank NL91INGB065.42.67.456
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Nienke Smit   Pieter Lammers
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06-41454957
  Pieter Lammers
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06-41454956