Head of Internal Models Unit

The European Insurance and Occupational Pensions Authority (EIOPA) is an independent European Union Authority established on 1 January 2011 by Regulation (EU) No. 1094/2010 of the European Parliament and of the Council of 24 November 2010.

EIOPA is at the heart of insurance and occupational pensions in the EU.

Our mission is to contribute to a sound, effective and consistent level of regulation and supervision of insurance and occupational pensions sectors in Europe, and to promote transparency, simplicity and fairness in the market for consumer financial products or services across the internal market for the benefit of EU citizens. Through our activities we help protect insurance policyholders, pension scheme members, customers and consumers and other beneficiaries. We furthermore play a key role in supporting the stability of the financial system, transparency of financial markets and products, and we contribute to strengthening coordination among financial supervisors at the international level.

EIOPA is part of the European System of Financial Supervision (ESFS) which includes the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Systemic Risk Board (ESRB).

Further information on EIOPA is available on EIOPA’s website: https://www.eiopa.europa.eu/

As an European Union Authority, EIOPA is committed to fostering an inclusive and dynamic working environment, providing equal opportunities to all its employees and applicants. EIOPA is committed to ensuring gender equality and to preventing discrimination on any grounds. EIOPA actively welcomes applications from all qualified candidates from diverse backgrounds, across all abilities, without any distinction on any ground such as sex, race, colour, ethnic or social origin, genetic features, language, religion or belief, political or any other opinion, membership of a national minority, property, birth, disability, age, marital status or family situation or sexual orientation.

Job Purpose

Head of Internal Models Unit

Note: To ensure diversity among the EIOPA management team, female applications are strongly encouraged. The application deadline might be extended or the campaign suspended and relaunched in case of a shortlist of candidates that is not gender balanced.

Major purpose of the Internal Models Unit

The Internal Models Unit is responsible for fostering quality, consistency and efficiency in the implementation of Solvency II internal models provisions, by:

establishing and running projects to assess and improve consistency; visiting and engaging with National Supervisory Authorities in close cooperation with the Oversight Units to better understand, monitor and provide feedback on their internal models supervisory approach, as well as to provide technical support to develop high-quality supervisory outcomes;
promoting the sharing of good practice and sound application of the rules by engaging with technical experts in National Supervisory Authorities;
preparing draft Opinions and/or other types of documents to tackle a possible lack of consistency;
participating in joint on-site inspections, visiting National Supervisory Authorities, as well as participating in Colleges of Supervisors where internal model issues are discussed;
providing technical assistance upon request by NCAs on model changes and new model approvals.

Main Responsibilities

Main responsibilities as Head of Unit:

implementing EIOPA's strategy in the areas of competence of the Unit;
planning, managing and controlling the activities of the Unit and ensuring the delivery of high-quality work;
leading by example by managing the Unit and its relationships with other Departments and Units;
the day-to-day management and administration of all tasks and responsibilities assigned to the Unit, including the management of personnel and budgets, in compliance with the related HR, financial and procurement rules and fostering a positive working climate;
business planning (such as the contribution to the Single Programming Document and the Annual Work Programme), business evaluation and performance management within the unit, including quality control and timely delivery of the unit’s products and services, fostering efficiency;
representing the Unit and EIOPA (as appropriate) in internal and external meetings and conferences (including presentations in the field of the unit’s competence);
reporting to the Head of Department any significant issues faced in performing the Unit activity;
ensuring that EIOPA internal policy, standards and procedures (including security, control and risk management) are known and applied by all staff assigned to the Unit;
performing any other task assigned to them by the Head of Department, the Executive Director or the Chair

The Head of Internal Models Unit reports to the Head of Oversight Department.

For the achievement of specific objectives, the Head of Unit may set up work areas within the Unit and designate responsible persons. The persons in charge of the work areas operate under the control and directives of the Head of the Unit.

Eligibility Criteria

Thorough knowledge of one of the languages of the Communities and a satisfactory knowledge of another language of the Communities;
Be a national of a Member State of the European Union, Norway, Iceland or Liechtenstein;
Be entitled to his or her full rights as a citizen [1];
Have fulfilled any obligations imposed by the applicable laws on military service;
Be physically fit to perform the duties linked to the post [2];

[1] Prior to the appointment, the successful candidate will be asked to provide a Police certificate confirming the absence of any criminal record.

[2] Before being engaged, a candidate shall be medically examined by one of the institution’s medical officers in order that the institution may be satisfied that he fulfils the requirements of Article 12 (2)(d) of the Conditions of Employment of Other Servants of the European Communities.

Essential Skills and Knowledge

Qualification:

a) a level of education which corresponds to completed university studies, attested by a diploma, when the normal period of university education is four years or more; or

b) a level of education which corresponds to completed university studies, attested by a diploma and appropriate professional experience of at least one year, when the normal period of university education is at least three years;

Have at least 12 years of proven full-time professional experience in a field relevant for this position, acquired after the qualification required under a) or b) above [1]
Have at least five years of proven full-time professional experience in coordinating a team of professionals, preferably multinational, in a field relevant for this position;
Proven experience on internal models used by financial entities, either full or partial internal model;
Proven very good understanding of Solvency II and internal models;
Very good analytical skills;
Working knowledge of MS Office, in particular Word, Excel and PowerPoint.
Very good command of oral and written English.

[1] For the engagement of Temporary Agents AD10, the minimum number of years of professional experience requited is twelve. See Implementing rules concerning the use and engagement of temporary agents

Desirable Skills and Knowledge

Proven supervisory experience in on-site inspections or as lead supervisor for undertakings, preferably in the field of insurance;
Proven experience in handling diverging views and proactively managing stakeholders;
Ability to understand and navigate within diversified supervisory cultures;
Proven experience in representing the organisation externally at high level;
Knowledge of a third EU language.

Behavioural Competencies required

Flexibility in terms of openness to taking over other tasks within EIOPA in view of the dynamic and evolving institutional environment;
Excellent team player sharing relevant information and supporting team members without taking over responsibility for their work, able to work in different teams with different levels of stakeholders in a multicultural environment;
Being able to have and express a critical view towards own performance and open to learn from experience;

Based on EIOPA’s leadership competencies, the successful candidate is expected to have the following level of leadership competencies:

‘Role model’ level in managing oneself (authentic leadership): emotional intelligence, including developing the mind-set and habit of regular reflection and learning to enhance self-awareness; anticipating how own emotions, beliefs and preferences may influence own behaviour in different situations; and seeking to instill a positive and constructive viewpoint;
‘Role model’ level in leading others: building high performing teams; managing performance; communicating and collaborating effectively;
Managing and leading the organisation: demonstrating strategic focus and effective decision making at ‘Effective’ level and organisational/business awareness at ’Role model’ level.

Contractual conditions

Place of employment

Frankfurt am Main, Germany

Function group and grade

AD10

Monthly basic salary

Step 1: EUR 10,110.82

Step 2: EUR 10,535.67

plus specific allowances where applicable*.

*Summary of Conditions of Employment

Successful external candidates will be classified either in step 1 or 2.

Grade / step [1]

Monthly basic salary [2]

Monthly net salary, excluding allowances

Monthly net salary, including specific allowances [3]

AD10 Step 1

EUR 10,110.82

EUR 7,315.86

EUR 10,599.71

AS10 Step 2

EUR 10,535.67

EUR 7,557.14

EUR 10,942.57

[1] Implementing rules concerning classification in step on appointment or engagement of temporary agents

[2] The basic salary is weighted by the current correction coefficient for Germany (100.3%)

[3] An estimation of net salary, including the deduction for tax and social security and adding the allowances (this estimation has been calculated with expatriation allowance, household allowance and with one dependent child allowance). Allowances depend in any case on the personal situation of the candidate.

Salaries are subject to a Union tax deducted at source and are exempt from national taxation;
After the successful completion of the 9-month management probation period, the jobholder will be entitled to a management allowance.
Depending on the individual family situation and the place of origin, the successful jobholder may be entitled to: expatriation allowance (16% of the basic salary), household allowance, dependent child allowance, education allowance, pre-school allowance, installation allowance, reimbursement of removal costs, initial temporary daily subsistence allowance, and other benefits;
Annual leave entitlement of two days per calendar month plus additional days for grade, distance from the place of origin and in addition on average 15 EIOPA holidays per year;
EU Pension Scheme (after 10 years of service);
EU Joint Sickness and Insurance Scheme (JSIS), accident and occupational disease insurance coverage, unemployment and invalidity allowance and travel insurance;
General and relevant technical training plus professional development opportunities; Modern and flexible working conditions, combining presence in the office and teleworking opportunities (certain geographical restrictions apply).

Envisaged start date

1 March 2024

Contract type and duration

Successful candidates may be offered an employment contract for three years as a Temporary Agent. The contract may be renewed for a second fixed-term period, and upon its second renewal converted into a contract of indefinite duration.

In line with the EIOPA’s Policy on the Identification and Management of Sensitive Post adopted by the Executive Director of EIOPA (EIOPA-18/308), this position is classified as sensitive and forms part of the sensitive posts inventory of the Authority.

Reserve list

Possibility of reserve list with validity until 31 December 2024, with possibility of extension.

According to EIOPA Management Board decision EIOPA-MB-15-072 adopting the implementing rules on the procedure governing the engagement and use of temporary staff under Article 2(f) of the CEOS, and in particular Article 12 (2), if a successful applicant from this external procedure, on the closing day for applications, as well as on the day of taking up duty at EIOPA:

is a member of temporary staff under Article 2(f) of the CEOS, and
is employed within his/her agency in function group and grade included in the range “AD 9 – AD11”,

EIOPA shall offer the applicant, in writing, the opportunity either:

a) to be assigned to the post by means of internal mobility, as per Article 10 of EIOPA-MB-15-072. In this case the contract at EIOPA will be in continuity with the contract of the previous agency (namely with regard to grade, step, seniority in step, and duration).

b) in case the eligibility, qualification and professional experience requirements for the grade indicated in this external vacancy notice, (AD10) are met, to be assigned to the post on the basis of a new contract (first fixed-term) of three years duration, subject to the probationary period of 9 months, at the grade indicated in the external vacancy notice (AD10).

Recruitment procedure

The recruitment process will include a panel interview and a written test. In addition, there may be a pre-screening exercise, a presentation to be delivered by the candidate and a second interview.

Furthermore, an external provider will assess the management skills of all short-listed candidates. The assessment will include online self-assessment questions and an interview and/or role play. The link to the self-assessment questions will be sent to applicants once their interview dates have been confirmed, and the questions will have to be answered by a specific deadline. Applicants will, therefore, have to be able to access the internet for this purpose during this period.

The online application form should be submitted in English language.
(1) Curriculum Vitae clearly indicating (among all):

Qualifications (please list exact dates of your academic qualifications gained)
Responsibilities, experience and skills gained in previous positions (please list exact dates of your work experience gained)
Nationality/Citizenship
Language skills

(2) Motivation explaining why you are interested in the post and what would be your added value you would bring to EIOPA if selected.

Applicants will be assessed on the basis of the eligibility and selection criteria specified in the vacancy notice and these must be met by the closing date of the vacancy notice.

Extended Application Deadline: 4 December 2023 23:59 CET

Applications after the deadline are not considered.

The successful candidate will be required to make an annual declaration in respect of any interests which might be considered prejudicial to their independence. Before recruiting a member of staff, EIOPA’s Executive Director will examine whether the successful candidate has any personal interest which may impair their independence or any other conflict of interest. To that end, the successful candidate, using a specific form, shall inform the Executive Director via the Ethics Officer of any actual or potential conflict of interest.

For more information on the selection process of temporary agents and on the contractual and working conditions, please, refer to: