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Senior Risk Analyst (m/f/d) - Solvency II Internal Model Validation for P&C Risk

Job Level:  Professional

München, DE, 80802

Available until:  08/31/2022
Area of Expertise:  Risk Management
Unit:  Allianz SE
Employing Entity: 
Job Type:  Full-Time
Remote Job:  Remote working due to Covid 19
Employment Type:  Permanent
ID:  2491

Department description / job purpose / role 

In the context of Solvency II, Allianz uses an internal model approach in order to determine its capital
adequacy, to better allocate its capital and to take better investment and product decisions. The internal model needs to
be reviewed independently to ensure that the internal model results are accurate and complete on the Group and
legal entity level. The Group Independent Validation Unit (“IVU”) within the Group Risk is responsible for the
validation of the Allianz Internal Model to be used under Solvency II. The senior analyst will be responsible for the
validation of  P&C risk models and preferably also for other risk types, e.g. operational risk or tax models. He/she will report to the Head
of the Group IVU.


Key responsibilities

  • Regular re-validation, annual ongoing validation and model change validations related to P&C model components (and ideally also for other risk types like OpRisk and/or Tax), i.e.
    • reviewing of analysis provided by model owner
    • performing own analysis
    • writing validation reports
    • interaction with Operating Entitii
    • presenting results to senior management and regulators
  • Governance activities, e.g. classification of model changes according to internal and external standards
  • Supporting/management of model change processes
  • Project related work regarding the further development of validation and governance processes


Qualification/Experience&Key Skills

  • Working experience of at least 6 years in risk management and validation, preferably in large financial institutions
  • Strong knowledge of insurance business with focus on P&C. Knowledge in modelling of other risk types like OpRisk and/or Tax is a plus
  • Good knowledge in financial mathematics or statistical sciences, strong analytical skills and P&C risk modelling expertise
  • Very good knowledge of Solvency II requirements
  • High level of commitment and interest to work in a dynamic and demanding environment
  • Professional communication skills, willingness to assert oneself, good influencing and persuasion skills
  • Actuarial qualification is a plus
  • Knowledge of Allianz internal Model is a plus 


Additional Information

We offer: Career development programs, Workwell@AllianzSE, Flexible working arrangements
Senior Recruiter: Ms. Sabrina DiClemente – Phone: +49 (0)89 3800- 69518
Please submit your applications only via our online tool.



Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. 
We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in.
We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation.
Join us. Let's care for tomorrow.
Note: Diversity of minds is an integral part of Allianz’ company culture. One means to achieve diverse teams is a regular rotation of Allianz Executive employees across functions, Allianz entities and geographies. Therefore, the company expects from its employees a general openness and a high motivation to regularly change positions and collect experiences across Allianz Group.