Associate Director / Senior Manager, ERM

  • 37135
  • Life - Other
  • |
  • Hong Kong
  • |
  • Mar 31, 2020
Insurance
RESPONSIBILITIES
  • Working with Group Finance and colleagues in BUs to define the key requirements from an economic capital metric that enables the implementation of a strong ERM framework and meets regulatory requirements.
  • Understanding and monitoring risks to the Group’s capital positions including Economic Capital and local solvency regimes to senior stakeholders.
  • Regularly assessing the effectiveness of the risk appetite and risk limits framework in meeting the Group’s risk management objectives and recommend changes when required.
  • Supporting the embedding of the economic capital metric and ORSA principles in the Group’s key decision making processes.
  • Supporting the monitoring of the Group’s risk profile and recommending risk management actions to help the Group meet its risk management and financial objectives.
  • Supporting the implementation and embedding of an effective and efficient group-wide stress and scenario testing programme that provides appropriate insights to senior management.
  • Helping with the preparation of the Group ORSA report, the Recovery Plan, the Liquidity Risk Management Plan and other ERM related regulatory requirements that meet the required quality and governance standards and are considered to be useful by senior management.
  • When required, providing risk inputs to solutions to optimise the Group’s regulatory and economic capital position through both capital management and risk transfer.
  • Supporting the Group Chief Risk and Compliance Officer in the engagement with the IAIS, HK IA and industry bodies in the development of the regulatory framework including ERM requirements, capital standards and systemic risk regulation.
  • Supporting the transition of ICS reporting to Group Finance and support Group Finance during the transition in areas such as interpreting ICS requirements, presenting results to committees, identifying areas of concern.
  • Helping to prepare for regular briefings on ERM and capital related areas to the Group Chief Risk and Compliance Officer to support attendance at various Committee and other meetings.
  • Helping to prepare for the Group Technical Actuarial Committee and provide expert input as well as second line challenge.
  • Enabling the Risk function to support the organisation in achieving strategic priorities as required.
QUALIFICATIONS
  • Actuary or a risk professional with a specialisation/professional qualification in risk management or finance.
  • Some understanding of the key features of life insurance products and the types of risks associated with them. An international perspective on products and market characteristics would be an advantage.
  • An understanding of different capital and reporting standards and the principles underlying them.
  • Experience of balance sheet and capital modelling and/or reporting.
  • Some understanding of: principles and practices underlying Enterprise Risk Management; profit drivers and risk exposures of a global insurance group; valuation of assets and insurance liabilities; principles underpinning the calculation of insurance capital metrics and its linkage to risk taking/management incentives; and understanding of the regulatory environment and trends; and impact on the sector.
  • Highly motivated and able to work independently.
  • An analytical mind-set with strong statistical/problem solving skills and focus on outcomes.
  • Self-starter and proactive with ability to set the agenda for the team to enable achievement of the organisation’s objectives.
  • Flexibility in dealing with changing priorities and shifting across a broad range of topics.
  • Willingness to challenge and enhance existing risk management processes and frameworks, exploring and proposing new ideas.
  • Good written and verbal communication skills, both to technical and non-technical audiences.
  • Ability to challenge while being commercially orientated and pragmatic.
  • A team player and flexible to adapt to a fluid environment.
  • There may be a requirement to travel regionally and globally as needed.