Head of General Insurance Risk

  • 34900
  • Non-Life - Actuarial
  • |
  • Hong Kong
  • |
  • Mar 18, 2019
Insurance
RESPONSIBILITIES
  • Ensure the company’s Risk Management Standards, policies and frameworks, are established and followed accordingly with appropriate adaption to the company’s operating condition, if needed.
  • Support the Audit Risk & Compliance Committee and Board Risk Committee on all General Insurance risk related matters, both technically and logistically.
  • Supervise the GI Risk team in establishing and ensuring an effective 2nd line of defense by providing technical 2nd opinion and/or support in:
  • GI reserving 2nd opinion.
  • Data quality validation in reinsurance data submission with respect to annual Catastrophe Reinsurance quotation process, Actor reporting on reinsurance treaties and facultative for Solvency II purpose and data quality on annual atypical modelling.
  • Annual review and validation of reinsurance strategies, analysis of retention limits, catastrophe reinsurance capacity etc. Ensure reinsurance cover is sufficient, not excessive, and cost efficient.
  • GI Product Approval Process and Group Referral Process.
  • Identification of emerging risks.
  • Support CRO to provide 2nd opinion on Strategic Plan.
  • Underwriting & claims practices.
  • Oversee the maintenance of the complete Risk Appetite Framework, including annual review, risk limits determination and quarterly risk position quantification in all GI related risks.
  • Drive a sound risk culture, promoting open discussion within the business, debate and challenge across functional units, independent peer review as a norm with regard to key reports and decisions, and pro-active management of risks and issues.
  • Work closely and collectively with functional units to support management in ensuring their risks are identified, assessed, reported and managed.
  • Develop and drive specific GI risk mitigation strategies e.g. follow up on independent review or audit, both externally and internally etc.
QUALIFICATIONS
  • At least 12+ years relevant experience in General Insurance industry in the area of actuarial, underwriting or risk management.
  • Qualified General Insurance Actuary.
  • Confident in challenging the 1st lines in all aspects relating to GI risk matters and demonstrates the ability to work collaboratively with business partners to achieve a best practice outcome.
  • Strong people communication and presentation skills in English and Chinese.