Quantitative Business Analyst – Life Insurance

For an established player in the financial and insurance sector, Azuro is looking for a Quantitative Business Analyst with an interest in Employee Benefits insurance and supplementary pensions.

This position is particularly suitable for candidates who enjoy understanding underlying processes, analysing figures and, at the same time, translating this understanding into very concrete and workable solutions for the business, customers and IT.

Worklocation

Brussels, with three days of remote working per week

Function

You will work in an environment characterised by complex processes and major transformation projects.

These transformation projects may arise for various reasons, whether strategic or operational in nature: digitalisation, improving the customer experience, increasing process efficiency or quality, changes in the product environment, the development of additional services, evolving operational needs or adapting to new regulations in areas such as compliance, risk and data quality.

At the same time, the company has made the strategic decision to gradually transfer functionalities from legacy applications to a central, internally developed management platform.

As a Business Analyst, you will combine the traditional responsibilities of business analysis with a strong quantitative perspective. You will act as a bridge between the business, actuarial teams and IT.

Please note: you will not be working as an actuary in this position. However, you will need to understand, analyse, challenge and test the underlying actuarial and financial calculations in order to translate them into clear requirements and workable solutions for the IT department.

More specifically, your responsibilities will include:

• You analyse business needs and translate them into clear and structured functional requirements.
• You map processes involving calculation rules, formulas, parameters, controls, etc., and analyse their impact on financial and insurance-related results.
• Examples of quantitative processes may include employer and employee premiums and contributions, the accumulation of pension capital or reserves, insured benefits in the event of death or disability, salary-related formulas and ceilings, indexations and parameter changes, returns and potential Branch 21/Branch 23 logic, etc.
• You generally act as the communication link between the business, actuarial teams and IT.
• You consistently approach processes from an end-to-end perspective and assess the broader organisational impact of changes.
• You also analyse how existing functionality and calculation logic from legacy applications can be integrated into the central management environment.
• You perform impact analyses and develop test scenarios and validations.
• You compare and verify results to ensure that calculations remain correct following changes or migrations.
• You analyse reported issues and work together with the business and IT to identify their root cause and assess their impact.
• You coordinate your findings with other application and process owners within a highly integrated IT landscape.
• Finally, you ensure that processes are properly documented and actively share your knowledge with the Business Analyst team and the wider organisation.

Requirements

• You hold a master’s degree with a strong mathematical or statistical component, for example in Actuarial Science, Mathematics, Economics, Finance, Business Engineering or another comparable field.
• You have sufficient knowledge of Employee Benefits, group insurance or the broader Life Insurance environment.
• Experience with tools such as Excel, SQL, Python or SAS is a strong asset.
• You are fluent in either Dutch or French and have sufficient understanding of the other national language to work effectively with colleagues and stakeholders. In addition, you have a good command of English.
• You already have experience in Business Analysis within the insurance sector, or you have worked as a Data Analyst, Actuary or Quant in the insurance industry and would like to move into a challenging role focused on business analysis and process management.
• You combine strong quantitative and analytical skills with a solid understanding of processes.
• You are able to maintain a helicopter view at all times and manage processes from an end-to-end perspective.
• Your strong communication skills enable you to make complex topics understandable to both business and IT professionals.