Our organisation
Ageas is a listed international insurance Group with a heritage spanning of 200 years, offering Retail and Business customers Life and Non-Life insurance, and is also engaged in reinsurance activities.
As an international insurance company, Ageas concentrates its activities in Europe and Asia through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors.
Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of over EUR 18,5 billion in 2024.
Ageas aims to be a Great place to Grow for all its people, while always staying true to its four values: care, share, deliver and dare. It fosters an inclusive culture, that values diversity and encourages everyone to get the best out of their talents.
Ageas has been re-certified as Top Employer in 2025.
The vibrant Ageas Corporate Centre in Brussels is home to a variety of Group level functions including, amongst others, Risk, Finance, Legal & Compliance, Investor Relations, Human Resources, Strategy, Business Development and Corporate Communications. It sets out the long-term strategy for Ageas and coordinates numerous initiatives across the Group to help realise the strategic ambitions. The Corporate Centre also facilitates knowledge and skills sharing amongst its local operating entities and JV’s, creating strong connections and leveraging on local strengths. It represents the Ageas Group towards external parties, managing relations with analysts, retail and institutional investors, regulators, rating agencies and the media.
The department
The vision of QRM is that models used at Ageas to quantify risks are substantiated, regularly tested, documented, and understood by all stakeholders. Realising that models are simplifications from reality, stakeholders understand the limitations of these models and therefore the consequences of model risks.
The mission of QRM is:
1. to develop methodologies to quantify the risks of Ageas group,
2. to define the group policies and standards that ensure quality model development at Ageas and its OpCos,
3. to ensure implementation in reliable tools and the use of the methodologies, and
4. to report and explain the outcomes of the models that are used to inform internal decision takers and external stakeholders.
Within QRM, the Life Valuation and Financial Risk department focuses on activities related to the Financial risk modelling and reporting and related to Life Underwriting Valuation and Risk of Ageas.
The activities are recurring processes related to closing activities, such as data preparation for entities, providing liquidity and financial risk reports to ARC, and providing RN scenarios; maintenance of policies and standards; support for MYB and annual (ORSA) stress testing; preparing and chairing the Technical Committee meetings towards the entities; and model development and maintenance, including interactions with implementation teams and entities for UATs.
Finally, a considerable amount of the activities are ad-hoc in interaction with stakeholders at corporate center and in the entities, and lead to analyses, researching, reporting, and advising.
Additional to its existing activities QRM has received the task to develop a Full Internal Model for Ageas and its entities and prepare Ageas for a successful IMAP in 2025, 2026 and 2027.
Your position
The role is responsible for developing, designing, implementing, maintaining, and managing the Internal Model for Market Risk at Ageas Group.
Your responsibilities include, among others:
5. Lead the design, development, group-wide implementation and adoption, and continued maintenance to required standards of the Solvency II compliant Internal Model Market Risk (AUM approx.: €100bln).
6. Ensure the appropriate selection & modelling of the risk-factors within Real World Economic Scenario Generation
7. Benchmark the proposed models with Standard Formula & Peers (industry)
8. Contact point for National Bank (NBB) for technical interactions, discussions and workshops during IMAP phase and future model changes
9. Provide extensive (technical) trainings across Ageas (different audiences) related to the new models and its impacts within the company.
10. Understand and translate the business needs into the internal model and produce new reports, outcomes to support management decisions
11. Act as reference point (and support) for group and local entities for the incorporation of the internal model (transition from Std Formula) into the companies’ framework: Investment Limits, SAA, Limit setting, …
12. Provide opinion on respective committees regarding capital allocation vs Internal Model and M&As
13. Responsible for end-to-end process for IM SCR (group and local entities)
14. Build and maintain documentation, testing strategies and coordinate validation processes within project.
15. Develop new reports (Market Risk) for management decisions.
16. E2E workstream: propose strategies and new approaches to incorporate the new framework considering current and potential future company’s challenges/ambitions.
17. Support ad-hoc projects related to modelling and economic scenarios: ALM, product development, pricing & Capital Add-on
18. Ensure the model implementation of reliable tools, either within the team, with local entities or via the Ageas Model Implementation Team, including User Acceptance Testing.
19. Provide input to Ageas governance bodies: Technical & Project Committees
20. Autonomously lead the IMMR team (3 FTE’s):
21. Setting of targets to achieve short- & long-term objectives.
22. Assigning roles & responsibilities in line with competences.
23. Coach & guide development track of team members.
24. Plan model & testing activities of the department, including task split, timelines and validation of the work.
25. Secretary of the Internal Model - Financial Risk Technical Committees.
26. Extensive interaction and support to local entities (training, data, regulation, methodologies…).
Your profile
Market Risk is in size and impact by far the most important risk for Ageas. This risk type requires expertise in a wide range of market risk types (equities, interest rates, credit spreads, etcetera) and a solid and continuous understanding of how these risk types impact Ageas and its entities.
27. Higher education in a quantitative topic (Mathematics, Physics, Engineering, Finance, Actuarial), PhD is a plus.
28. Professional accreditation (CFA, CRM, or Actuarial) is a bonus.
29. Excellent command of written & spoken English. Knowledge of Dutch and/or French is a bonus.
30. Strong organizational and time management skills
31. Result orientation: capable of executing complex tasks under pressure.
32. Persuasion skills: ability to tune in to interest or level of discussion partner and to use indirect influence to achieve goals.
33. Proactiveness
34. Content: ability to own and defend the risk area of his/her responsibility and see bigger picture of how the risk area interacts with other departments / disciplines, ability to work with a high level of abstraction.
Our offer
35. The possibility of (maximum 50%) home working;
36. A dynamic, multicultural working environment;
37. An interesting and extensive salary package (including meal vouchers, eco vouchers, hospitalization, disability and group insurance, additional child benefit, mobile allowance and intervention in the internet reimbursement, ...);
38. A company car with charging card;
39. The possibility to optimize part of your salary package through a flexible income plan;
40. A corporate culture where you are encouraged to share your views and opinions;
41. A flat organizational structure with close collaboration and communication with management and cross departments;
42. An extensive range of learning & development opportunities through our online learning platform;
43. The opportunity to further develop yourself and to be part of a great team at a Top employer in Belgium.