Model Risk Actuary

This role offers a unique opportunity for an actuary to make a meaningful impact while working with some of the most sophisticated and exciting life and health insurance products and models in the industry. We have a team of actuaries at Aegon with varying degrees of experience to provide advisory services to our US affiliates on model risk and model development issues.

In this role you will work on models for a variety of products from LTC through variable and fixed annuities to financial guarantee products and on many issues from dynamic, machine learning assumption setting through traditional cash-flow modelling to mortality improvements. Your role includes reviewing these models, assessing risks and advising on model and process improvements. You will be responsible for the review and analysis of these actuarial models, maintaining the high standards of the group in terms of modelling and actuarial processes, making sure that the actuarial models meet expectations of accuracy, auditability, scalability, etc.

You will have the opportunity to learn from an experienced mentor, and you will be provided with continuous support in building your expertise in these areas. You will have an opportunity to apply your critical thinking, challenge our existing ways and provide guidance and ideas about improving our modelling. We strive to help you build a unique professional skillset that is otherwise difficult to attain in this region.

What we are looking for:

• Experience in actuarial modelling or a related area
• Self-starting, pro-active, energized and ‘can-do’ attitude
• Desire to learn and grow professionally
• Ability to effectively communicate complex actuarial issues
• Proficiency in English
• Ability to work both independently and as part of a team
• Audit experience, as well as experience working abroad or internationally is an advantage
• Experience in at least one high level programming language, understanding of common coding standards is of an advantage
• Experience in actuarial software development (e.g. AXIS, RAFM, MoSes, Prophet) is a strong plus
• Willingness and experience in mentoring or people management is an advantage

What you can find with us

• A unique opportunity to set up, shape and establish a new model risk team
• Potential to grow your professional expertise with ample support – in a depth that is otherwise unattainable, including personal mentoring at the start of your career with us
• Actuarial work covering a broad spectrum of life, health & pension of your liking
• Opportunity to work in a friendly and professional international team, while being based in Budapest
• Significant impact on a key area of our US Affiliates’ actuarial work
• Competitive salary
• Comprehensive health package
• Cafeteria
• All You Can Move card
• A brand-new office in an excellent location
• Hybrid working
• Opportunities for growth and advancement - A large pool of in-house training to choose from.
• A highly people-centric, positive and supportive work environment

Aegon is an international financial service holding company headquartered in Schiphol, the Netherlands. Our ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Our purpose is to help people live their best lives, a goal that runs through all of our activities. The company has multiple locations across the globe, with core markets in the UK and the US, partnerships in Spain & Portugal, Brazil, and China, and an Asset Management organization with locations in the UK, US, NL, and Hungary. In the Netherlands, Aegon generates value via strategic shareholding in a market-leading insurance and pensions company.

Aegon Global Business Solutions Center is supporting these businesses with IT, Finance, Risk, Model Validation, Actuarial, Audit, and Asset management services with a growing team of approx. 300 people, based in Budapest, Hungary.

US Affiliate

Transamerica Life Insurance Company (and its affiliates), an Aegon Ltd subsidiary, is a leading US life, health and pension insurance company (within the top 10 life insurers on the US market) with a seasoned history of providing services for more than 10 million customers.

The Security Provisioning Analyst is responsible for provisioning and maintaining secure access across a wide range of enterprise applications. This role plays a key part in supporting Aegon’s security and compliance programs by ensuring that access requests are handled accurately, efficiently, and in alignment with regulatory requirements.