Risk Analyst, Life & Pensions (permanent)

Job ID: 31279

We are looking for a full-time Risk Analyst to our NLP Finland Risk Management team to take part in analyzing and supporting the development of the risk management system in both Nordea Life Assurance Finland Ltd. (life) and in its subsidiary Nordea Insurance Finland Ltd (non-life). 

Nordea Life Assurance Finland Ltd. and Nordea Insurance Finland Ltd. are both part of the Nordea Life & Pension Group and are owned entirely by Nordea Life Holding AB, which is in turn entirely owned by Nordea Bank Abp. We offer life and non-life insurance solutions to private and corporate customers. Nordea Insurance Finland Ltd.’s risk management function is outsourced to Nordea Life Assurance Finland Ltd.’s risk management function.
 

About our team

Meet the NLP Finland Risk Management team. We are a small team of experienced risk professionals based in Kaisaniemi, Helsinki. Our risk management team collaborates closely with the Life & Pension Group Risk Management team from Nordea Bank Group Risk, and we are defined as a 2nd Line of Defense function together with the Actuarial Function and the Compliance Function.

Our role is to ensure that our key stakeholders, the Senior Management Groups and Boards of Directors in both the Finnish life and non-life companies continuously have an adequate, up-to-date, relevant and holistic overview of the risk picture in the relevant company. 

Collaboration. Ownership. Passion. Courage. These are the values that guide us in how we work and how we make decisions – and that we imagine you share with us.

What you’ll be doing

As a risk analyst you will support the Chief Risk Officer in Nordea Life Assurance Finland Ltd. and help secure that we are able to identify, measure, monitor, manage and report the current and future risks to the business. In your role you will contribute to and support activities and initiatives within capital and risk management in both companies

Main responsibilities in this role: 

• Together with the rest of the team you will contribute to ensure a robust analysis and overview of all risks in the NLP risk taxonomy from a 2nd Line of Defense point of view in Nordea’s Life & Pension business in Finland. You will also contribute to both analyzing the risk management system in both companies, as well as to developing it together with the business in 1st Line of Defense. This is an excellent opportunity for you to learn more about how an insurance company works in practice, and to get exposure to a wide variety of stakeholders at all levels and parts of the organization. We have truly great people working here.
• In addition to being insurance companies, Nordea Life Assurance Finland Ltd. and Nordea Insurance Finland Ltd. are also institutional investors with large investment portfolios. As a Risk Analyst you will be responsible for running, maintaining and developing the daily detailed investment portfolio return calculations, limit controls, and weekly risk reports for both companies. You will also be responsible for high quality reporting of the above to key stakeholders, as well as for quarterly investment portfolio asset allocation and return reporting to the FIN-FSA.
• You will be responsible for developing and maintaining a risk database and analysis solution for the Finnish life and non-life companies’ risk data, to enable a continuous and easy overview of risk positions by the risk management team and by Senior Management.
• In addition to this, you will assume responsibility for different sections within all three pillars of the Solvency 2 framework for both companies:
  o    the regular solvency calculation process.
  o    the Own Risk and Solvency Assessment (ORSA) process, which is European insurance companies’ equivalent to the ICAAP analysis at Nordea Bank level.
  o    the processes related to the public Solvency and Financial Condition Reports (SFCR) and the Regulatory Supervisory Reports (RSR) to the FIN-FSA.
  
• You will assume operational tasks of running, maintaining, and in some cases also  developing, various risk models and analysis tools.

Who you are

This is the right role for you if you are self-driven, numerical, and have a keen interest in capital markets, investment management and risk management. Additionally, you also need an understanding of various types of financial instruments across the main asset classes including derivatives, as you will be responsible for return and risk report calculations in our team. We work with quite large data sets and to a large extent we create our own analysis tools. Therefore, you also need to have an interest in programming as well as some practical programming experience, or willingness to learn programming. In addition to this, we believe you enjoy working across a varied field of subjects with many stakeholders, you are able to take own initiatives, you are analytical, have a structured approach to you work and a high attention to details. You also need to have a curious mindset and an interest in how various insurance products work to take part in the analysis of the liability side of the balance sheet as well.

Your background and skills include:

• 3+ years of relevant work experience from a quantitative role in e.g. investment management, risk management or insurance.
• Master’s degree in a quantitative subject (finance, economics or similar).
• Understanding of the capital markets and investment vehicles from various asset classes including derivatives.
• Curious mindset and willingness to learn new things.
• Programming experience in e.g. Excel VBA or SQL, or willingness to learn programming.
• Fluency in both written and spoken Finnish and English is essential for this role, since some of your responsibilities require fluency in Finnish, and since many of the projects and other analysis that we perform in our team, or together with the Life & Pension Group Risk Management team, are carried out in English.

It would be ideal if you also: 

• Have a drive for own development and learning to keep updated within your own area of responsibility, and to secure development in competences to be able to provide specialist advise.
• Have an interest in obtaining, or are already working towards, a professional designation like e.g. the FRM, CFA, CEFA, VTS or similar.

What we offer

People come here when they want to get somewhere. For some, it’s to take their career to the next level. For others, it’s to break new ground within their area of expertise – in other words, with us, you will always move forward.

A culture that fosters performance and growth in one of the largest Nordic banks, offering various opportunities to evolve, develop and learn from brilliant colleagues with diverse backgrounds in a vibrant working environment.

Hybrid working model – we believe in the value of bringing people together and at the same time we embrace the freedom of flexibility.

Diversity and inclusion are a natural part of our daily work. We know that an inclusive workplace is a sustainable one. We genuinely believe that our diverse backgrounds, experiences, characteristics and traits make us stronger together. Every day we strive to find new ways to improve diversity and inclusion within our community e.g. we have signed the European Diversity Charters in the countries where we operate to show our commitment and engage with others to continue learning and improving.

If this sounds like you, get in touch!

Next steps

Submit your application no later than 14/12/2025. For more information, you’re welcome to contact Nordea Life Assurance Finland Ltd’s Chief Risk Officer Niklas Björk-Laurén at +358 50 567 58 99 or niklas.bjork-lauren@nordea.fi. 

The position starts at the earliest on the 15th of January 2026.

We enable dreams and aspirations for a greater good.

We build relationships. We add a personal touch to everything we do – when advising our customers, collaborating with colleagues, and meeting our potential candidates.

We learn and develop. We take pride in being experts and thinking ahead. We use our expertise to meet our customers’ needs, from the simplest to the most complex. We bring a growth mindset to our work that enables us to focus on a broader perspective in our daily challenges.

We lead change. We are responsible and aware of the impact of our decisions, both for our customers and for our local and global communities. Mindful of our responsibility towards current and future generations, we have made sustainability an integrated part of our business strategy.

We are Nordea. We have a 200-year history of supporting and growing the Nordic economies and our values are deeply rooted in these open, progressive and collaborative societies. As one of the biggest employers in the Nordics, Poland and Estonia, you have excellent opportunities to evolve, develop and move forward with us.

 A security clearance will be performed for the person selected for this position.