Head of Capital Management

Head of Capital Management

Ageas

Belgium

Your responsibilities will include:

• Managing the credit rating process on behalf of Ageas Group for all credit rating agencies that rate Ageas, in order to ensure smooth communication and a fair representation of the credit profile of the Group;
• Co-managing, in close collaboration with the Group Treasurer, debt (both senior and hybrid) issuances and capital management projects of the Group;
• Assessing the impact of strategic decisions (including M&A) on all capital management-related KPIs, including but not limited to the capital structure, Holding Free Cash Flow, shareholder remuneration as well as rating of the Group and its entities. Ensuring that the department performs relevant due diligence when required;
• Ensuring that the Capital Management Framework of the Group is well defined and adequately addresses the needs of management of the Group. Closely monitoring and analysing all relevant KPIs as produced by the Capital Analyst(s) and advising the management to take appropriate action in order to mitigate a risk or to take advantage of an opportunity. The Capital Management Framework includes, but is not limited to:
  • Allocation of capital within Ageas Group;
  • Leverage of the Group and its OpCos;
  • Inward dividend remittances and distributions to shareholders.
• Overseeing, in close collaboration with Group Risk and Group Reinsurance, the development of the Risk & Capital Management Toolkit, a practical tool which aims to enable the group and its entities to evaluate a holistic range of mitigation solutions against any future stress scenario(s);
• Ensuring that the Capital Management Policy is up-to-date and appropriately embedded in the Group and its OpCos;
• Maintaining regular contact with the investment bankers that cover Ageas and monitors the evolutions of the Capital Markets and their impact on Ageas and ensures that the management is informed accordingly;
• Following up on regulatory (Solvency II, ICS, IFRS, LIBOR/EURIBOR reform, etc.) and rating methodology developments and anticipates the impact that they may have on the capital structure of Ageas Group;
• Reviewing the weekly, quarterly and ad-hoc reporting and analysis to the management and relevant departments of the Group that is prepared by the Capital Analyst(s);
• Overseeing the participation of the department in the regular processes of the Group (MYB, ORSA, Key Risk Reporting, RSR/SFCR, Annual Report, etc.);
• Organising, defining and preparing conferences and events hosted by Group Capital Management;
• Performing various analyses relating to capital management matters.

What we are looking for:

• You have a Master’s degree in Business Administration, Economics, Corporate Finance, Actuarial Science or a related subject;
• You have 6-10 years’ experience in insurance or investment banking, in the fields of capital management, balance sheet management, risk management, investments, ALM or M&A;
• You have an understanding of Debt Capital Markets principles and technical aspects (investor expectations, pricing, market behaviour). An understanding of insurance and/or banking hybrid instruments structuring is desirable;
• You have deep knowledge of rating agencies’ frameworks and methodologies as well as rating capital models for insurers;
• You have an advanced understanding of accounting, risk management and corporate finance theories, methods and techniques. In particular, strong understanding of Solvency II, IFRS and ideally BGAAP principles. Understanding of capital frameworks for banks (e.g. Basel) is a plus;
• You have experience in managing and coaching more junior employees;
• You have experience in interacting with C-level executives;
• You have ability to deliver against challenging timelines and to balance workload among different projects on top of business-as-usual tasks;
• Strong analytical skills and good communication skills are indispensable.

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