Steven Simon

IA|BE Qualified Actuary & Actuaris AG

Actuary with more than 20 years of experience in the insurance and the banking sector in both Belgium and The Netherlands, available for senior assignments in actuarial departments and risk management; open to Actuarial Function, CRO and Board member roles. 

15 years of experience in the Big-4 sector, at KPMG and PwC, has given me the background and expertise for various types of assignments across the actuarial and risk domains, ranging from 1-st line roles in reporting to risk governance and model validation.

Experience in leading and coaching teams, happy to present technical and non-technical topics to senior management, and comfortable in discussions with external auditors and the regulator.

                                     Selection of past engagements                                     

Here below you find a selection of past projects. These projects range across the various aspects of the actuarial and risk domains.

Actuarial 

Valuation & Reporting

• Supporting a Dutch life insurer on the methodological aspects of IFRS 17: drafting the accounting policies and leading the discussions with Group and the external auditor.
• Benchmark the actuarial assumptions for SII used by a life insurer on the Belgian market against market practice.
• On request of an Italian re-insurer, review the assumptions and methodologies used by a Belgian insurer for the valuation of the contracts underlying a re-insurance treaty.
• Actuarial support for an M&A transaction of a book of life insurance contracts.
• IFRS 17 gap analysis at a medium Belgian insurer.
• Actuarial function holder at interim at a medium Belgian insurer.

Risk Management 

Governance & Analytics

• Full implementation of Standard Approach for the standard formula SCR for the Market Risk and Counterparty Risk modules of Solvency II for a medium Belgian insurer.
• Developing a SII risk dashboard across all risk types.
• Supporting the CRO of a P&C insurer active in different European countries on strategic aspects of risk management, such as risk appetite, redesigning the ORSA, and strategic asset allocation. 
• Validation of the time-series based internal model for market risk under SII for an internationally active health insurer.
• Review of the entire process for the internal model for the SII required capital for the life business, including the construction of the replicating portfolio. 

Investments

Asset allocation & ALM

• Assist a small Belgian insurer with developing an Excel-based tool for strategic asset allocation under various constraints.
• Model validation of the of the Black-Litterman model implemented by a mid-size Belgian bank for portfolio management.
• Building and calibrating a pricing tool (G2++ model) in R for the valuation of exotic interest rate derivatives. 

Modelling & Analytics 

Insurance & Banking

• Providing assurance services on model risk management to a spin-off of a Belgian university active in artificial intelligence.
• Gap analysis for a large Dutch bank of PD and LGD models used under Basel III against IFRS9 requirements.
• Team-leader for Workstream 7 (Collective provisioning) and Workstream 8 (Level 3 fair value exposures review) of the Asset Quality Review for the ECB at a large Belgian bank.

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