About our team
Meet the NLP Finland Risk Management team. We are a small team of experienced risk professionals based in Kaisaniemi, Helsinki. Our risk management team collaborates closely with the Nordic Life & Pension Group Risk Management team from Nordea Bank Group Risk, and we are defined as a 2nd Line of Defense function together with the Actuarial Function and the Compliance Function.
Our role is to ensure that our key stakeholders, the Senior Management Groups and Boards of Directors in both the Finnish life and non-life companies continuously have an adequate, up-to-date, relevant and holistic overview of the risk picture in the relevant company.
Collaboration. Ownership. Passion. Courage. These are the values that guide us in how we work and how we make decisions – and that we imagine you share with us.
What you’ll be doing
As a risk analyst you will support the Chief Risk Officer in Nordea Life Assurance Finland Ltd. and help secure that we are able to identify, measure, monitor, manage and report the current and future risks to the business. In your role you will contribute to and support activities and initiatives within capital and risk management in both companies.
Your main responsibilities in this role:
- Together with the rest of the team you will contribute to ensure a robust analysis and overview of all risks in the NLP risk taxonomy from a 2nd Line of Defense point of view in Nordea’s Life & Pension business in Finland. You will also contribute to both analyzing the risk management system in both companies, as well as to developing it together with the business in 1st Line of Defense. This is an excellent opportunity for you to learn more about how an insurance company works in practice, and to get exposure to a wide variety of stakeholders at all levels and parts of the organization. We have truly great people working here.
- In addition to being insurance companies, Nordea Life Assurance Finland Ltd. and Nordea Insurance Finland Ltd. are also institutional investors with large investment portfolios. As a Risk Analyst you will be responsible for running, maintaining and developing the daily detailed investment portfolio return calculations, limit controls, and weekly risk reports for both companies. You will also be responsible for high quality reporting of the above to key stakeholders, as well as for quarterly investment portfolio asset allocation and return reporting to the FIN-FSA.
- You will be responsible for developing and maintaining a risk database and analysis solution for the Finnish life and non-life companies’ risk data, to enable a continuous and easy overview of risk positions by the risk management team and by Senior Management.
- In addition to this, you will assume responsibility for different sections within all three pillars of the Solvency 2 framework for both companies:
- the regular solvency calculation process
- the Own Risk and Solvency Assessment (ORSA) process
- the processes related to the public Solvency and Financial Condition Reports (SFCR) and the Regulatory Supervisory Reports (RSR) to the FIN-FSA.
- You will assume operational tasks of running, maintaining, and in some cases also developing, various risk models and analysis tools.
Who you are
This is the right role for you if you are self-driven, highly numerical and have a keen interest in capital markets, investment management and risk management. Additionally, you also need a good understanding of various types of financial instruments across the main asset classes including derivatives. We work with quite extensive data sets on a daily basis and to a large extent we create our own analysis tools. Therefore, to succeed in this role you also need to have an interest in programming, and an ability to produce your own code as well as structured analysis tools, while also being able to understand and maintain code and tools generated by other team members. In addition to this, we believe you enjoy working across a varied field of subjects with many stakeholders, you are able to take own initiatives, you are analytical, have a structured approach to you work and a high attention to details. You also need to have an interest in how various insurance products work, also from a mathematical standpoint, to take part in the analysis of the liability side of the balance sheet as well.
Your background and skills include:
- 3+ years of relevant work experience from a quantitative role in e.g. investment management, risk management or insurance.
- Master’s degree in a quantitative subject (finance, economics or similar).
- A good understanding of the capital markets and investment vehicles from various asset classes including derivatives.
- Practical experience from programming and maintaining analysis tools for own use and for use by others in at least Excel VBA but also in e.g. C#.
- Knowledge of databases, SQL and PowerBI.
- The internal language in Nordea Life Assurance Finland Ltd. and Nordea Insurance Finland Ltd. is Finnish, and some of your key responsibilities will be carried out in Finnish, and therefore fluency in both written and spoken Finnish is important. In addition to this, most of the projects and other analysis that we perform internally in our team, or together with the Nordic Life & Pension Group Risk Management team, are carried out in English, and therefore fluency in written and spoken English is essential.
It would be ideal if you also:
- Have a drive for own development and learning to keep updated within your own area of responsibility, and to secure development in competences to be able to provide specialist advise.
- Have an interest in obtaining, or are already working towards, a professional designation like e.g. the FRM, CFA, CEFA, VTS or similar.
- Have experience from using the NIMS portfolio management system.
If this sounds like you, get in touch!
