Associate Director Product Risk

  • 36490
  • Life - Actuarial
  • |
  • Hong Kong
  • |
  • Dec 19, 2019
Insurance
RESPONSIBILITIES
  • Perform risk assessments on escalated new and non-standard insurance products, reinsurance arrangements and underwriting proposals.
  • Assess escalated proposals for quality and completeness, providing timely and constructive feedback.
  • For assigned business units, establish and maintain a close working relationship with both local and group stakeholders to facilitate timely risk advice during the product development process.
  • For escalated issues, work with local risk officers to develop risk mitigation strategies which are practical and commercially sound, having regard to the specific detail of the product/ arrangement/ proposal and the overall new business portfolio risk.
  • Identify the appropriate governance path for handling insurance risk issues escalated by local teams. Proactively steer insurance and reinsurance through the required stakeholder and governance steps, with close follow-up to ensure timely turnaround by diverse stakeholders.
  • Develop and/or review group standards, guidance notes, templates and other governance tools produced by Group Risk and/or Group Actuarial to support Product and Reinsurance processes in local teams.
  • Compile, review and provide expert commentary on product and insurance risk metrics and watch lists, both at the individual product level and portfolio level, working to the standard of reliability and clarity which is required for submissions to the Group Financial Risk Committee.
QUALIFICATIONS
  • Minimum 5 years’ actuarial experience a life insurer/reinsurer.
  • Practical experience in the fields of the life insurance/reinsurance product development and pricing.
  • Fellowship or close to fellowship in a recognized international actuarial professional body.
  • Assertive, self-motivated and customer-oriented.
  • Sound problem-solving and decision-making skills.
  • Good communication and interpersonal skills.
  • Time management skills.
  • Strategic planning skills.
  • Computer literate in MS Office.