Group Head of Solvency II, 80-100%

In this role you will lead the Solvency II team at Corporate Center, which acts as business partner for all the insurance subsidiaries of the Zurich Group based in the EU with regard to Solvency II. You will be providing tools and expertise on Standard Formula and Quantitative Reporting Templates (QRTs) and acting as central point of reference for Solvency II related matters with an overarching coordination role across central and local departments. The team is an international team co-located between Zurich and our service-delivery center in Bratislava.

Solvency II is an EU wide regulation, which codifies and harmonizes the EU insurance regulation. Solvency II defines the methodology, governance and reporting requirements around the calculation of the capital that EU insurance companies must hold to reduce the risk of insolvency. Complying to regulation, such as Solvency II, is part of the Zurich Basics and requires a large collaborative effort across central and local departments.

Your Role

As a Group Head of Solvency II your main responsibilities will involve:

• Coordinating production runs for quarterly Solvency II calculations and reporting for all EU subsidiaries of the Group
• Coordinating central deliveries to these production runs
• Developing and maintaining the Solvency II risk engine, covering the Standard Formula model and the QRTs
• Coordinating with central and local stakeholders and working with internal developers and external providers
• Developing and maintaining the Standard Formula and own Funds Scenario Model
• Providing expertise and recommendations on capital actions and modeling of scenarios for regulatory and internal purposes, such as forwarding looking risk and capital estimates, capital optimization initiatives and impact analysis of market movements
• Acting as business partner to the risk team in EMEA for capital management topics
• Coordinating with Regulatory Affairs, central teams and local teams to build a Zurich positioning on the regulatory development of Solvency II
• Following on regulatory changes and updates, participating and representing Zurich in relevant industry projects and associations
• Interpreting impact of regulation on Zurich and communicating to affected internal counterparties
• Providing expertise and recommendations on disclosures in relation to QRTs

Your Skills and Experience

As a Group Head of Solvency II your skills and qualifications will ideally include:

• Master degree in business administration, finance, mathematics, actuarial sciences or related fields
• 10-15 years+ of experience in large, complex financial organizations within Risk, Finance or the business
• Strong technical and analytical skills, with a track record of developing lean and effective risk and financial reporting processes
• Professional certifications such as CFA, CPA, FRM or actuarial qualification are an additional benefit
• People management experience, including management of near-shore team members is an additional asset
• Excellent understanding of insurance regulation, economic valuation and solvency calculations
• Experience with agile software development approaches or Lean qualifications are an additional asset
• Excellent influencing and stakeholder management skills, and ability to reach practical solutions in complex, multi-interest settings
• Profound subject matter expertise and a passion for maintaining knowledge at the forefront of emerging trends relevant to the insurance industry
• Strong business partnering skills and ability to proactive listening
• Fluency in English (written and spoken)
• Any other European language (German, Spanish, Italian) would be an asset