Actuary for the supervision of pension funds (IORPs)

Where will you be working?

You will be employed as an actuary in the ‘Supervision of insurance products and supplementary pensions’ department, which is responsible for the prudential supervision of institutions for occupational retirement provision (IORPs, also known as pension funds), the supervision of compliance with the social legislation governing supplementary pensions and the supervision of insurance products (life and non-life).

What will your job entail?

As an actuary on a multidisciplinary team, you will be involved mainly in the technical actuarial elements of the supervision of IORPs. 

Your tasks will include assessing the prudent nature of the technical provisions and their funding. In particular, you will analyse the actuarial models used and the reinsurance policy in respect of the pension plans managed, the age pyramid of the members, the investment rules and the financial soundness of the sponsoring undertakings, and so on. You will also assess the prudent and up-to-date nature of the assumptions used. In the process, special attention will be paid to assessing the stochastic models used to determine the provisions for adverse deviations from the assumptions. Your tasks also include assessing the general matching of assets and liabilities (ALM studies), the risk management conducted by an IORP, and compliance with the actuarial requirements under social legislation in respect of the pension plans managed by an IORP.

The purpose of your analysis is to draw up a correct technical-financial risk profile for the IORPs under supervision. 

In addition, you will draw on your actuarial expertise to support the services of the FSMA that supervise compliance with the social legislation governing supplementary pensions and that supervise insurance products. This is done chiefly in the context of specific supervisory actions and complaints handling.

Lastly, you will participate in developing supervisory policy and harmonizing the legislation with the regulatory developments at international and European levels.

What knowledge, experience and skills do you bring?

  • A Master’s degree in actuarial sciences or a Master’s in mathematics, in an economic field or in engineering, supplemented by relevant professional experience as an actuary (life insurance or IORPs).
  • Thorough familiarity with actuarial modelling for pension funds (deterministic and stochastic), ALM and risk management. 
  • A specialization in the area of supplementary pensions and life insurance is an asset.
  • Solid competence in Dutch and French and good command of English.
  • An analytical mind-set and the ability to combine this with an excellent capacity for synthesis. Your strengths are accuracy and professionalism.
  • Excellent skill in logical structuring of verbal and written communication;
  • Both a team player and able to work independently.
  • Constantly seeking improvement.
  •  Good knowledge of the commonly used Microsoft Office and Power BI applications.
  • Relevant experience in the actuarial field. Thorough practical knowledge of management techniques in the field of insurance is an asset.

What do we offer you?

  • A full-time job with a permanent contract. 
  • Work that has an important social impact: you will be contributing to consumer protection. 
  • A competitive salary package with a wide range of family-friendly and fringe benefits (including group and hospitalization insurance, reimbursement of public transport costs, budget-friendly company restaurant, contribution to your mobile phone and internet subscriptions, additional non-statutory holidays, bank holidays, etc.). 
  • Good work/life balance (possibility of teleworking a few days a week).
  • Flexible working hours. 
  • Easy to reach location in central Brussels. 
  • Many opportunities for training and development.


Each member of the FSMA staff is subject to a strict code of ethics and is bound by the obligation of professional secrecy