Life, Health and Financial Risk Director

1.Ensure AXA Group’s Life, Health and Financial Risk Management Standards, policies and frameworks, are established and followed in accordance with AXA Hong Kong’s operating condition, with appropriate adaptation if needed

2.Represent local risk management and lead presentations/discussions at the Audit Risk & Compliance Committee (ARCC) and Board Risk Committee on all matters related to Life, Health and Financial risks

3.Lead and oversee the Life, Health, and Financial Risk team to establish and ensure an effective second line of defense by providing technical second opinions and preparing analyses/reports in areas such as:

§Own Risk and Solvency Assessment (ORSA) report, Recovery Plan and Model Validation report (and related deliverables);

§New product development, Group Medical / Employee Benefits scheme quotations, direct and reinsurance business initiatives and inforce portfolio management;

§Policyholders’ bonus strategies and annual recommendations;

§Investment, ALM and hedging strategies, Strategic Assets Allocation, new asset class assessment;

§Best estimate assumptions review in the relevant financial reporting, reserving and capital regime (, Local Statutory, IFRS, Solvency 2, etc.);

§Capital management and optimization strategies;

§Liquidity stress and contingency plan;

§Setting / enhancing governance procedures and providing reviews in relation to various business initiatives;

§Support CRO to provide 2nd opinion on Strategic Plan;

§Identification of emerging risks;

§Marketing and campaign initiatives;

§Underwriting & claims practices.

4.Oversee the maintenance and continuous development of the complete Risk Appetite Framework, including annual review, determination of risk limits and quarterly quantification of risk positions in all Life, Health and Financial related risks.

5.Ensure that comprehensive risk profiles are prepared and maintained through close collaboration with business functions such as Investment, Finance, Product, Employee Benefits, Operations, Compliance, Legal, Marketing and Actuarial team. Provide necessary support for the annual risk assessment process for specific functional departments such as Finance and Investment.

6.Develop and drive specific Life, Health, and Financial risk mitigation strategies, including coordination with stakeholders on implementation and monitoring, as well as leading and participating in ad-hoc projects based on management requests or external developments

7.Drive communication and awareness on the latest product governance. Appropriately challenge the first line to ensure adequate consideration in product development on key risks and financial metrics, customer value, fair treatment of customers, and business/channel monitoring mix.

8.Lead the review and validation of reinsurance strategies and activities such as the execution of the reinsurance strategies, analysis of retention limits, catastrophe reinsurance capacity etc.

9.Actively oversee the financial, ALM and investment risk profiles and financial risk mitigation strategies:

§Ensure that the risk management/appetite framework is effectively implemented with appropriate risk monitoring, identification/quantification and remediations;

§Monitor and manage ALM risks through active participation in the SAA review exercise. Provide second opinion and recommend management actions to address ALM risks where appropriate;

§Collaborate with Investment department in the formulation, implementation and monitoring of risk mitigation strategies;

§Monitor and report any actions which breach Group policies and risk appetites, formulate rectification plan and timely actions.

§Participate in the approval process of investment initiatives (incl. new non-traditional investment, hedging strategies, derivative programs and custodian/external manager selection), provide risk management opinion and steer actions towards effective risk management.

10.Manage the delivery of all Solvency II requirements under the responsibilities of the local risk management team such as:

§Support the CRO in managing the Data Quality Framework including the performance of data validation and running the DQ committee;

§Lead the preparation of the Own Risk and Solvency Assessment (ORSA) Reporting;

§Enforcement of Solvency II Internal Model Validation Policy, ensuring that the functions and nomination of the Validation Coordinator is performed for the preparation of the Internal Model Validation Report and validation activities;

§Ensure the Solvency II Use Test requirements are fulfilled;

§Ensure the Solvency II documentation framework are fulfilled according to Group guideline;

§Maintain general oversight on other Solvency II requirements.

11.Manage and ensure the emerging risks framework relevant to Life, Health and Financial risks are implemented according to Group requirements

12.Develop and 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 key risks are identified, assessed, reported and managed.

13.Lead the Risk Management team towards becoming a business partner to Local business functions and make Risk Management a great place to work:

§Develop local risk teams with strong technical knowledge and soft skill;

§Promote a positive and high performance working environment;

§Ensure accuracy and completeness of analyses with specification agreed through effective communication with end users;

§Ensure high quality work are properly documented and presented;

§Communicate clear role descriptions and accountability statements to facilitate staff objectives setting and drive the right behaviors.

14.Identify new initiatives and support the business to enhance specific key risk areas

·At least 15 years financial services and insurance industry experience with minimum of 3 years focusing on actuarial/finance/risk management at managerial level or above with people management responsibilities

·Degree/Master holder/professional certification in insurance or related disciplines,

·Qualified actuary and CERA/FRM preferred

·Strong knowledge of the local life and health insurance market including regulations, product, pricing and valuation, distribution, underwriting, claims and reinsurance

·Extensive knowledge and practical experience in quantitative finance such as the application of derivatives for hedging purposes, ALM, VaR

·In-depth understanding of financial parameters and profitability matrix, capital, profit & value measures and drivers as used in insurance industry

·Confident in challenging the 1st lines in all aspects relating to life, health and financial risk matters

·Possess competencies in analytical skills, and ability to break down complex technical problems into essential elements and identify the priority areas for planning and executions

·Fluent in spoken & written English and Chinese is preferred

·Strong communication skills and stakeholder management skills across all levels of an organization is essential

We always start with our customers

As one of the largest global insurers, our purpose is to act for human progress by protecting what matters .

Protection has always been at the core of our business, helping individuals, businesses and societies to thrive. And AXA has always been a leader, an innovator, an entrepreneurial company, fostering progress in all its dimensions. Our purpose also links back to the Group's roots. From the outset, AXA has been committed to acting as a force for collective good. From solidarity-based actions with AXA Hearts In Action to work on prevention issues with the AXA Research Fund and the fight against climate change, AXA has always been attentive to its social environment and embraced its responsibility as an insurer: responsibility for taking action upstream in order to better understand risks, with one goal in mind: to ensure better protection.

ABOUT AXA HONG KONG AND MACAU

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 54 markets and serving 105 million customers worldwide.

As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.

At the core of our service commitment is continuous product innovation and customer experience enrichment, which is achieved through actively listening to our customers and leveraging technology and digital transformation.

We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example, the Mind Charger function on our holistic wellness platform “AXA BetterMe”, which is available via our mobile app Emma by AXA, is open to not just our customers, but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.

AXA is an equal opportunity employer. We are committed to promoting Diversity and Inclusion (D&I) by creating a work environment where all employees are treated with dignity, respect, and where individual differences are valued. We welcome and treasure diverse profiles to join our big family, and to build an inclusive culture together which allows everyone to maximise their personal potential.

We offer excellent career prospects and attractive remuneration package to the right candidates.