Risk Manager - Internal Model

Join Allianz Benelux as a Risk Manager - Internal Model (IMAP Project)

Who are we?

Allianz Benelux is a composite insurance company, offering both non-life and life/health insurance in Belgium and the Netherlands. Our operations also extend to Luxembourg, where we provide specialized life insurance products. We serve both retail and corporate customers with a wide range of insurance solutions.

What will your role be?

Allianz Benelux is at the starting phase of the IMAP (Internal Model Approval Process) project, a multi-year initiative aimed at securing regulatory approval for the use of our internal model. To drive this critical project forward, we are seeking new risk managers who can provide valuable support to Allianz Benelux in the IMAP project. This project offers a unique opportunity to gain insight into the entire company, take on significant responsibility, and accelerate your professional growth.

You will join the Risk Management department, specializing in Internal Model Governance & Qualitative Elements. This dynamic and flexible position is pivotal to the IMAP at Allianz Benelux. You will help strengthen our Internal Model Governance framework, ensuring the model is effectively integrated into business strategy, planning, and exposure management. While focusing on the qualitative aspects of our second line of defense, you will also gain exposure to the quantitative dimensions of the new internal model, providing a comprehensive view across multiple business areas and an accelerated learning path for your development.

Our Risk Management department has a strong track record of fostering career opportunities and professional advancement. You will collaborate closely with cross-functional teams and stakeholders to ensure regulatory and Group alignment while achieving project objectives. Working alongside colleagues in Finance, you will benefit from numerous opportunities for learning and development throughout your journey with us.

Your main responsibilities:

• Implement Internal Model Governance: Drive the implementation of the Internal Model Governance Framework through strong project management and stakeholder coordination, establishing an appropriate governance structure and ensuring solutions are pragmatic and proportionate to the task at hand.
• Coordinate Model Change Process: Coordinate the Annual Model Change process, governing any changes to the internal risk capital model.
• Implement Qualitative Elements: Support the implementation of the Use Test, Data Quality Assurance, and the Profit & Loss Attribution exercise to assess and evidence that the Internal Model is widely and appropriately used.
• Stakeholder Engagement: Collaborate with internal and external stakeholders to ensure clear communication, alignment, and transparency.
• Regulatory Compliance: Ensure that the internal model Aggregation Model meets all Solvency II requirements.
• Process Optimization: Drive efficiency within Risk Management by continuously improving processes and tools, such as automation with GenAI or programming languages, to enhance overall effectiveness and productivity.

What we expect from you

• Master’s degree in Business Economics, Business Information Technology, Law, or a similar field of expertise.
• 2 to 7 years of working experience in the field of Finance/Insurance.
• Assertive, structured, and pragmatic problem-solver who tailors solutions proportionate to the task.
• Proven project management expertise, delivering on time and within scope across multi-stakeholder initiatives.
• Excellent communication and interpersonal skills, with the ability to collaborate effectively across teams and engage with C-suite executives.
• Detail-oriented and able to manage multiple priorities in a fast-paced environment.
• Fluent (oral and written) in English; Dutch and/or French are a plus.
• Experience in Risk Management and Solvency II are a plus.
• Programming knowledge (e.g., Python, R, VBA) and quantitative skills are a plus.
• At Allianz, we are always enthusiastic about people interested in AI.