Capital Manager

Ageas Group; Brussel Hoofdstad; On-site; EUR 90,000 - 130,000; Full time

Benefits offered by this job

Dynamic, multicultural environment

Extensive salary package includingMeal

Flexible income plan

Flat structure and collaboration

Learning & development opportunities

Job summary

Ageas is a listed international insurance Group with a heritage spanning 200 years, offering Retail and Business customers Life and Non-Life insurance, and is also engaged in reinsurance activities.

The Ageas Corporate Centre in Brussels hosts Risk, Finance, Legal & Compliance, Investor Relations, Human Resources, Strategy, Business Development and Corporate Communications, setting long-term strategy and coordinating initiatives across the Group.

Qualifications

• 5–7 years in a financial institution or FI-focused consulting, with 2–3 years in capital management.
• Strong analytical skills; knowledge of Solvency II; IFRS understanding.
• Led the review and/or execution of structured transactions (financial or reinsurance) considering regulatory, accounting, risk and tax aspects.

Responsibilities

• Perform capital analyses and provide recommendations to senior management and governance bodies.
• Manage the credit rating process, including capital model assessments and engagement with rating agencies.
• Support the execution of transactions, including capital markets and/or reinsurance; coordinate with Treasury and Group investment teams on investments & hedging.
• Work closely with M&A to model the impact of transactions and design financing solutions.
• Maintain the Group Capital Management Framework and propose changes to adapt to different environments.
• Monitor regulatory, accounting, rating agency and capital market developments; produce periodic reports on key capital metrics.
• Contribute to Group processes like Multi-Year Budget, ORSA, and annual reporting.
• Act as a point of contact for operating entities on capital management matters to ensure consistency across the group.

Skills

Financial experience

Solvency II

IFRS

Structured deals

Team player

MS Office

English

Work permit Belgium

Education

Master's degree (Business Administration / Economics / Corporate Finance / Actuarial Science)

Tools

MS Excel

PowerPoint

Word

AI agents

Job description

Ageas is a listed international insurance Group with a heritage spanning of 200 years, offering Retail and Business customers Life and Non-Life insurance, and is also engaged in reinsurance activities. As an international insurance company, Ageas concentrates its activities in Europe and Asia through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of over EUR 19.6 billion in 2025.

Ageas aims to be a Great place to Grow for all its people, while always staying true to its four values: care, share, deliver and dare. Ageas strives to create a truly inclusive company – attracting the most talented people and offering a working environment where everyone feels they belong, collaborates to achieve our common ambitions and is recognized for their contribution. Ageas encourages its people to think and act differently, to speak up, to be themselves and to contribute their individual skills. For Ageas, diversity and inclusion is a business imperative, providing us with the foundation to achieve sustainable business results across different markets.

Ageas has been re-certified as Top Employer in 2026.

The vibrant Ageas Corporate Centre in Brussels is home to a variety of Group level functions including, amongst others, Risk, Finance, Legal & Compliance, Investor Relations, Human Resources, Strategy, Business Development and Corporate Communications. It sets out the long term strategy for Ageas and coordinates numerous initiatives across the Group to help realise the strategic ambitions. The Corporate Centre also facilitates knowledge and skills sharing amongst its local operating entities and JV’s, creating strong connections and leveraging on local strengths. It represents the Ageas Group towards external parties, managing relations with analysts, retail and institutional investors, regulators, rating agencies and the media.

Our main responsibilities are:

• Perform capital analyses and provide recommendations to senior management and the relevant governance bodies. Contribute to the optimisation of capital and liquidity across the group.
• Manage the credit rating process, including capital model assessments, the preparation of meeting materials, and engagement with rating agencies.
• Support the execution of transactions, including capital markets and / or reinsurance. Work closely with the Treasury team and Group investment team in developing investments & hedging strategies together with Group Risk / ALM.
• Work closely with M&A to model the impact of transactions and design adequate financing solutions
• Maintain the Group Capital Management Framework, including return-on-capital metrics and portfolio analysis, and support its implementation across the operating entities. Propose relevant changes to adapt to different environments.
• In collaboration with relevant other Finance and Risk functions, monitor regulatory, accounting, rating agency, and capital market developments, assess their impact on the Group and its operating entities, and produce periodic reports on key capital metrics.
• Contribute to recurring Group processes, including the Multi-Year Budget, ORSA, and annual reporting, with respect to the relevant capital management topics.
• Act as a point of contact for operating entities and corporate functions on capital management matters to ensure consistency and alignment of interest at consolidated level

Your profile:

• You have at least 5 - ideally 7 years of professional work experience in a financial institution ((re)insurance capital management team or corporate & investment bank with focus on Financial Institutions) or a consulting firm focused on Financial Institutions with at least 2-3 years in a capital management function.
• You have strong analytical skills, a good knowledge of Solvency II, and a working understanding of IFRS. Experience with credit rating agencies frameworks and methodologies is a plus but not required.
• You have led the review and/or the execution of structured transactions (either financial or reinsurance type), considering regulatory, accounting, risk and tax aspects in the analysis.
• You have a Master’s degree in Business Administration, Economics, Corporate Finance, Actuarial Science or a related subject.
• You are a team player with solid communication skills. You are proactive and enthusiastic about delivering the best results in a challenging environment. You can manage demanding deadlines and be flexible when needed. You can think out of the box and have a solution-oriented mind.
• You have a good command of MS Excel, Word and PowerPoint with proven experience with AI agents.
• You are fluent in English.
• Work permit in Belgium.

We offer:

• A dynamic, multicultural working environment;
• An interesting and extensive salary package (including meal vouchers, eco vouchers, hospitalization, disability and group insurance, additional child benefit, mobile allowance and intervention in the internet reimbursement, ...);
• The possibility to optimize part of your salary package through a flexible income plan;
• A corporate culture where you are encouraged to share your views and opinions;
• A flat organizational structure with close collaboration and communication with management and cross departments;
• An extensive range of learning & development opportunities through our online learning platform;
• The opportunity to further develop yourself and to be part of a great team at a Top employer in Belgium. Find out more about it here.