Director/ Senior Manager, Product Risk Management

  • 35248
  • Life - Actuarial
  • |
  • Hong Kong
  • |
  • May 24, 2019
Insurance
RESPONSIBILITIES
  • Provide independent review on products, ensure that practices in Asia Division meet our policies and standards and are consistent with established risk appetite and limits.
  • Be a regional expert in the local business product portfolios and plans.
  • Manage the product & insurance risk review and approval process to ensure it is appropriate and responsive i.e. it is in accordance with the Global framework, leverages CROs of business units where possible, and meets Asia Division and global product review service standards.
  • Ensure that all elements of product design and pricing meet our Corporate Pricing Standards consistent with company risk taking philosophy and limits.
  • Work with businesses to understand and shape their strategy and the impact of sales on the Division’s ongoing key performance indicators and risk profile, and effectively communicate implications to Divisional and Group management.
  • Support Asia business units in performing IFRS 17 impact analysis specifically implications to product strategy.
  • Participate in the annual NB planning process and in particular independently review the new business plan submissions from business units to provide insights from broader risk perspective.
  • Assist the Head of Asia Product Risk Management in the execution of his/her duties as they pertain to product and insurance risks.
  • Work collaboratively with Group Product & Insurance Risk Management and local business units to improve existing reporting / product review process.
  • Support Group Product Risk Management on special risk projects includes Group program on developing a risk technology framework.
QUALIFICATIONS
  • Fellow of an internationally recognized actuarial organization.
  • At least 7 years of experience in life insurance industry preferably product and/or pricing experience.
  • Good understanding of technical aspects of insurance product design.
  • Strong analytical and decision making skills.
  • Cultural sensitivity and ability to work collaboratively in various cultures.
  • Ability to work independently on multiple projects and lead broad change initiatives.
  • Excellent verbal and written communication skills.
  • Able to build long distance relationships.
  • Experience of Asian markets is an advantage.