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Pricing Actuary - via Badenoch & Clark
Den Haag - Provide support and expertise in designing and pricing Variable Annuity productsOrganisation
Ambition of VA-Europe (VAE) is to roll-out Variable Annuities with guaranteed benefits (living, death, or withdrawal) to European customers in order to protect or capture market share in Europe.
An effective pricing program is central to VAE's ability to design, price and risk-manage exposures. VAE plays a central role in developing pricing models, training local Actuaries and ensuring consistency of design across European countries. VAE is also responsible of ensuring that ING achieves its target profitability, while providing appropriate customer value and transparency of charges in each local market.
Reporting Relationship: Position is a member of VAE Pricing Team based in The Hague - within Insurance Benelux
Main objective of the job
Provide support and expertise in designing and pricing Variable Annuity products. This includes developing Pricing Models and working with members of VAE Team and Business Units Marketing staff to ensure all core features are appropriately designed, priced and risk-managed. Future development opportunities are to train local Business Unit Actuaries on modelling practices, pricing risks and product features.
Main Responsibilities
- Create Pricing Models, or enhance existing Models to adapt to new designs being considered.
- Work with BU Marketing team and VAE Business Development Team to design new VA products.
- Analyze financial results for reasonableness, and obtain approval from various organizations
- Understand all elements of Pricing such as reserve calculations, dynamic behaviour, capital requirements, etc., and defend them as required.
- Communicate results to management.
- Support implementation of controls, modelling methodology, and calculation frameworks (such as transition from traditional to market consistent methods)
- Monitor and quantify the effect of new laws and regulations
Job requirements
- 3 - 6 years of actuarial experience in pricing products and/or risk and financial management, preferably with a background in Variable Annuities.
- Background in insurance pricing, capital, profitability, valuation, and / or modelling
- Knowledge of the capital markets and hedging strategies is desired.
- Strong in programming languages especially Visual Basic.
- Other Pricing software experience is a plus.
- Ability to balance focus on big picture with frequent hands-on capabilities on challenging technical issues and care for detail.
- A solid team player with excellent presentation and communication skills
- Ability and flexibility to work in a cross functional environment
- Fluent in English, oral and written.
Location
The Hague (the Netherlands)
Den HaagDirect solliciteren:
If you are interested and you would like to know more about this position, please contact Bastiaan Poortenaar at 071-515 303 30 or 06- 506 33 320, or send a email with your resume tobastiaan.poortenaar@badenochandclark.com Vacaturenummer: BP9908Vacature geplaatst op 5 mei 2010
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