Risk Management Director

1 week ago


Hong Kong, Central and Western District, Hong Kong SAR China FWD Life Insurance Corporation Full time
About FWD Life Insurance Corporation

FWD Life Insurance Corporation is a leading pan-Asian life insurance business with over 13 million customers across 10 markets. Our mission is to change the way people feel about insurance by delivering innovative propositions, easy-to-understand products, and a simpler insurance experience.

Job Summary

We are seeking a highly skilled Risk Management Director to join our team. The successful candidate will be responsible for supporting the VP of Financial Risk in performing risk analyses on life financial and insurance risk assessment, with reference to FWD's ERM Framework and risk appetites.

Key Responsibilities
  1. Lead the implementation of relevant risk control frameworks at Group and BU levels to manage financial and insurance risks in accordance with Risk Appetite framework and ERM Framework.
  2. Participate in and project lead exercises under RBC, including ORSA preparation, and other related risk analysis by liaising with key stakeholders such as Actuarial and Finance.
  3. Perform risk monitoring for local offices to identify key risks in the BU's, and lead local management to monitor and review risks, developing mitigation strategies as needed.
  4. Collect relevant information and propose/perform a range of financial analysis on business risk assessment.
  5. Work closely with the VP of Financial Risk Management to recommend/review the ERM Framework and Risk Appetite Framework, enhance the comprehensive finance and insurance risk infrastructure, develop and maintain the framework of ORSA, and develop a comprehensive risk monitoring indicator.
  6. Proactively identify and escalate emerging issues, assessing potential mitigation actions and solutions.
  7. Drive firm-wide or Group Risk initiatives, including Group projects, risk management tool re-engineering, and improvement of reporting analytics on market, credit, and country-related risks.
  8. Establish new and strong relationships with local and Group risk functions.
  9. Lead regular risk reporting/analysis for key stakeholders as required.
  10. Foster a strong risk culture within FWD.
  11. Support market influencers and lead industry practitioners to align industry interests with new regulations and standardization market practices.
  12. Establish processes and build awareness for embedding life insurance risk control frameworks across markets, bringing insurance risk viewpoints to strategic planning.
  13. Define, influence, and oversee countries to follow Group's insurance risk monitoring matrix (including product value, economic values, IFRS 17, etc).
  14. Assist in formulating countries' ERM Framework and Risk Appetite Framework for insurance risks for Board approvals.
  15. Provide actionable advice on current and emerging issues for all countries, giving oversight in the management of market risk management systems.
  16. Contribute to strategic initiatives and projects related to risk appetite and risk limits development.
  17. Partner with Actuarial, Finance, and Compliance to monitor the performance of insurance risk and mandates on a regular basis.
  18. Assist in developing/setting KRI and risk metrics to monitor risk appetite and related risk limits, assessing the risk profile for both Group and BU levels.
  19. Advise and influence countries in local risk perspectives for insurance products, transactions, designing/revamping policies, controls, and processes.
  20. Drive the coordination and advising of ORSA reviews from a Group perspective to markets.
  21. Monitor and manage the company's overall exposure to insurance risk, leading countries and business lines to mitigate insurance and financial risks.
  22. Facilitate the implementation of insurance risk processes, providing coaching and guidelines to countries.
Qualifications/Experience
  1. University graduate with a Bachelor's degree in Mathematics, Actuarial Science, or Risk Management.
  2. FSA or near FSA or equivalent qualification.
  3. 6-10 years of related actuarial or risk management work experience, with exposure to valuation, product/pricing being a plus.
Knowledge & Technical Skills
  1. Strong risk management mindset and overall concept of enterprise risk management.
  2. Familiar with risk-based capital and its components.
  3. Familiar with asset management/Bloomberg.
  4. Ability to learn quickly new processes and articulate and question key risks or issues.
  5. Strong analytical skills, attention to detail, and ability to liaise with different functions.
  6. Excellent written and oral communication with strong interpersonal skills, being a good team-player.


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