Senior Manager, Global Insurance Underwriting Risk Specialist

1 week ago


Hong Kong, Central and Western District, Hong Kong SAR China HSBC Full time

About HSBC

HSBC is a leading global banking and financial services organization with a presence in over 80 countries. Our mission is to provide a wide range of financial services to individuals, businesses, and institutions, while maintaining a strong commitment to corporate social responsibility.

Job Summary

We are seeking a highly experienced and skilled Senior Manager to join our Global Insurance Underwriting Risk team. The successful candidate will be responsible for providing strategic leadership and expertise in the identification, assessment, management, monitoring, and mitigation of insurance underwriting risk across all insurance manufacturing territories in HSBC.

Key Responsibilities

  • Develop and implement effective risk management frameworks to ensure commercially viable insurance underwriting and claims policies.
  • Collaborate with global and local insurance risk management functions to develop and enhance underwriting and claims management, and identify and remediate significant underwriting and claims risks.
  • Contribute actively in the overall underwriting and claims related governance, including Global and local forums. Oversee comprehensive risk reporting to relevant forums, ensuring governance is clear and effective and material issues are escalated in a timely manner.
  • Partner with the First Line of Defense (FLOD) on various insurance underwriting risk related developments and initiatives, including the development of guidelines around fairness and inclusion.
  • Support the FLOD in ensuring underwriting and claims MI/KRI/Risk Appetite are appropriately designed and implemented. Review remediation actions and monitor progress for items breaching risk appetite/RAG thresholds.
  • Partner with the FLOD to ensure adequate oversight of controls design and operating effectiveness across all areas of underwriting and claims management, providing robust review and challenge.
  • Provide oversight and challenge to local entity underwriting and claims strategy.
  • Review and provide SME input on new cases/products/initiatives requiring Global Insurance Risk approval, per mandatory procedures.
  • Leverage relationships with HSBC's global reinsurance partners to strengthen our underwriting and claims functions.
  • Share global best practice across local territories.

Requirements

  • Education to degree level or equivalent and ideally possessing a relevant professional qualification.
  • Experience of the Financial Services industry with at least 10 years relevant experience either within a major financial organization or regulatory body.
  • Expertise in life underwriting and claims management.
  • Understanding of the HSBC Group, its culture, policies, and procedures.
  • Experience of insurance markets and the manufacture and distribution of insurance products.
  • Understanding of the regulatory and distribution risks relating to insurance.
  • Excellent communication and influencing skills.
  • Fluent in English.


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