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Model Validation Officer - NN Group

Locatie: The Hague

Job description
The risk metrics of NN Group are based on quantitative models. Model Validation (MV) is an independent entity at NNGroup in charge of validating all risk and cash flow models for the Insurance and Banking businesses. The overall objective of Model Validation is:

A part of the overall model risk management process, to provide model risk qualification as input for model risk management decisions, whilst ensuring adherence to the minimal model risk standards from an internal and regulatory perspective.

This mission statement involves:

  • Be an integral and very important part of the model risk management process.
  • Assessing whether developed models are reliable, appropriate for intended use and in compliance with regulation.
  • Promoting 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.

Your main 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. The reviews of the models take place at different stages of their lifecycle: i.e. when the model is initially developed, when the model is implemented, when any significant changes are made and on a regular basis. 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 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 (in)valid for a given intended use with specific recommendations for further improvements.You are able to present MV’s advice to committees and in meetings with stakeholders: i.e. Model Committees, the Management Board, the external accountant and the lead supervisor.
  • Model Validation Policy Framework. All 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 Model Validation Policies.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, and thereby coach and instruct employees to accomplish their tasks.

Your main contacts are our professional counterparts and senior management within business lines and/or Risk Management.

NN is a large organization. If you start working with our team, you will work for business unit NN Group

Your Profile

  • Education level: at minimum a Master’s degree in quantitative studies like Econometrics, Mathematics, Actuarial Science, Physics, etc.
  • Years of relevant experience: over 6 years 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.
  • Focus on high quality delivery.
  • 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.
  • Ability to distil, prioritise and present key messages of MV to Model Committees, CRO and other key stakeholders (internal and external).
  • Being customer oriented and able to build positive working relationships while at the same time having a strong independent stance.
  • Ability to review processes in an abstract manner to identify and work on opportunities for (cost) efficiency and/or improving quality of deliverables produced. 

We offer you
Naturally our appreciation for our colleagues are reflected in our conditions of employment, which, for the most part, can be adapted to your own personal wishes. We offer you: 

  • A work environment that is characterized by an professional atmosphere, collegiality and open communication.
  • Plenty of opportunities to develop yourself; craftsmanship and development are our top priority
  • The job is for 36-40 working hours a week and the location is The Hague.
  • A position in job grade 10, 11 or 12 depending on knowledge and experience.
  • Modern compensations & benefits with room for your own choices.

How to apply
Would you like to comment on this job? Then apply directly via the button under this vacancy. For questions call recruiter Dennis Damoiseaux, telephone 031 – 6 82 999 606 , or 

More information about our application process can be found here.

The Hague

Information and application:


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

Job code:


Job posted

16 november 2018
Apply Now

More information:

Dennis Damoiseaux
Recruiter NN Group
m. +31 (06) 8299 9606

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Tel: 036 - 7440 136

KvK 32090652
ING Bank NL91INGB065.42.67.456
BTW NL.8106.57.041.B01

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