Actuarial Risk Management Director
23 hours ago
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.
We are committed to changing the way people feel about insurance. Our customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience.
Job Summary
We are seeking an experienced Actuarial 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.
Key Responsibilities
- Lead, advise, and drive the implementation of relevant risk control frameworks at the group and business unit level to manage financial and insurance risks in accordance with risk appetite frameworks and enterprise risk management frameworks.
- Participate in and project lead exercises under risk-based capital, including own risk and solvency assessment (ORSA) preparation, and other related risk analysis by liaising with key stakeholders such as actuarial and finance.
- Perform risk monitoring for local offices to identify key risks in the business unit and lead local management to monitor and review risks, developing mitigation strategies as needed.
- Collect relevant information and propose/perform a range of financial analyses on business risk assessments.
- 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 ORSA framework, and develop a comprehensive risk monitoring indicator.
- Proactively identify and escalate emerging issues, assessing potential mitigation actions and solutions.
- Drive coordination and advising on firm-wide or group risk initiatives, including group projects, risk management re-engineering, and risk management tool improvements.
- Establish new and strong relationships with local and group risk functions.
- Lead and drive regular risk reporting/analysis for key stakeholders as required.
- Foster a strong risk culture within FWD.
- Support market influencers and lead the industry in aligning industry interests with new regulations and standardization market practices.
- Establish processes and build awareness for embedding life insurance risk control frameworks in all markets, bringing an insurance risk viewpoint to strategic planning.
- Define, influence, and oversee countries in following the group's insurance risk monitoring matrix (including product value, economic values, IFRS 17, etc).
- Assist in formulating countries' ERM frameworks and risk appetite frameworks for insurance risks for board approvals.
- Provide actionable advice on current and emerging issues for all countries and give oversight in the management of market risk management systems.
- Contribute to strategic initiatives and projects related to risk appetite and risk limits development.
- Partner with actuarial, finance, and compliance to monitor the performance of insurance risk and mandates on a regular basis.
- Assist in developing/setting key risk indicators and risk metrics to monitor risk appetite and related risk limits and assess the risk profile for both group and business unit levels.
- Advise and influence countries in local risk perspectives for insurance products, transactions, policy design, and process development.
- Drive coordination and advising on ORSA reviews from a group perspective to markets.
- Monitor and manage the company's overall exposure to insurance risk, including leading countries and business lines to mitigate insurance and financial risks.
- Facilitate the implementation of insurance risk processes, providing coaching and guidelines to countries.
Qualifications/Experience
- University graduate with a Bachelor's degree in mathematics, actuarial science, or risk management.
- FSA or near FSA or equivalent qualification.
- 6-10 years of related actuarial or risk management work experience, with exposure to valuation and product pricing a plus.
Knowledge & Technical Skills
- Strong risk management mindset and overall concept of enterprise risk management.
- Familiar with risk-based capital and its components.
- Familiar with asset management/Bloomberg.
- Ability to learn quickly and articulate key risks or issues.
- Strong analytical skills, attention to detail, and ability to liaise with different functions.
- Excellent written and oral communication with strong interpersonal skills. Must be a good team-player.
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