Actuarial Expert in Risk Modelling

Let’s care for tomorrow. Your ambitions. Your dreams. Your tomorrow.

Whether it’s aircraft, international business, offshore wind parks or Hollywood film productions, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.

We are looking for an Actuarial Expert (m/f/d) in Risk Modeling, based in Munich or Hamburg.

Your Team

At Allianz Commercial our Actuarial department has an in-depth understanding of the business. We work in close collaboration with other departments to protect Allianz Commercial’s financial strength and drive profitability.

The Impact You Will Have

Reporting to the Head of Actuarial Function, you will be working as an Actuarial Expert in the Chief Finance Office (CFO) Actuarial Risk Modeling (ARM) department. Your primary responsibility in this role is the development, maintenance and documentation of actuarial risk models in collaboration with colleagues within the ARM team and the wider Actuarial department, including strong interaction with other functions across the whole company.

You ensure that work results are reviewed and guide the junior analysts in day-to-day work. You prepare presentations and discuss results of your work with local and global management as well as with Group functions or auditors. You work independently and self-contained and you are able to acquire autonomously the necessary information and methodology to fulfill your tasks.

Some of your specific responsibilities could include:

• Promote close collaboration and interaction with the various business areas (Group, Underwriting, Market Management, other Finance departments, etc.) to foster mutual understanding how business developments impact actuarial drivers in the financials
• Create and run risk models including documentation, explanation and communication of results
• Be involved in various risk modeling, SII and IFRS17 related projects (e.g. model validation, TP model governance, IFRS17 implementation, Business steering, Capital Optimization, etc.)
• Develop global actuarial approaches and processes as well as enhance actuarial models and analyses
• Peer review work from other team members and mentor, provide guidance to junior team members
• Manage and drive forward own area of responsibility or project

What You’ll Bring to the Role

• Excellent tertiary qualification (ideally Master), preferably in Mathematics, Statistics or other appropriate discipline or qualified by experience in related discipline
• Steps taken towards actuarial qualification (e.g. Actuarial exams passed)
• About 5 years of professional experience in actuarial roles (Reserving, Risk, Pricing, etc.)
• Finance and Insurance know-how (ideally P&C) with regards to market dynamics, standard concepts and approaches: regulation, risk modeling, reinsurance and underwriting knowledge, reserving techniques, etc.
• Proven experience in developing and implementing stochastic models, analyses and processes
• Extensive computer skills (MS Office incl. VBA and relevant expert systems such as ResQ, Igloo, R, SQL or Python, etc.)
• Ability to identify patterns and root causes in complex (e.g. ambiguous, from various sources) data and processes to rapidly distill key issues and provide insight in various situations
• Excellent communication skills with an ability to understand, elaborate and convey information clearly and effectively in respect to the audience
• Good ability to persuade and motivate others without direct authority
• Fluent in English, German language skills of advantage

What’s in it for you?

Let’s care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the Allianz Group brand serving the world’s largest consumer brands and major industry players through to family-owned enterprises forming the backbone of nations’ economies. We bring together the corporate multinational business of Allianz Global Corporate & Specialty and the commercial business of national Allianz Property & Casualty entities and provide both traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our company culture.