Chief Risk Officer & Head of Global Product & Insurance Risk

Manulife (Hong Kong, Hong Kong) 3 days ago

Are you looking for unlimited opportunities to develop and succeed? With work that challenges and makes a difference, within a flexible and supportive environment, we can help our customers achieve their dreams and aspirations.

Job Description

Overview:

  • The Asia Chief Risk Officer & Head of Global Product & Insurance Risk, under the direction of the Chief Risk Officer, is responsible for working closely with the Asia segment to mitigate risk and identify solutions while ensuring the integrity of all risk exposure information reported internally and externally. The incumbent will also be responsible for globally leading the Product & Insurance Risk initiatives for the organization.
  • Reporting to the Chief Risk Officer, and General Manager Asia, the incumbent is accountable for oversight of risks practices for the specific businesses spanning over various Asian countries. The incumbent will work with specific business areas in Asia to ensure appropriate implementation and maintenance of Risk programs and procedures. As well the incumbent will lead the Global Product & Insurance Risk function. 

CRO - Responsibilities:

  • Responsible for risk identification, measurement, monitoring and reporting on Asia segment risks
  • Create a segmental risk framework in accordance with the MFC risk framework
  • Provide governance of company’s risk framework in Asia; promote a healthy risk culture in the segment
  • As a member of the Asia segment leadership team, advise the GM and Risk Committee of emerging risks and mitigation strategies
  • The Segment CRO along with the GM Asia are jointly responsible for ensuring there is a focus on risk management at all levels of the organization and setting appropriate risk strategies and objectives that align with our Asia risk appetite
  • Ensure that risks are identified to appropriately reflect the level and/or impact of the risk; influencing company’s risk culture
  • Alignment of strategic plan with risk appetite

Risk Management:

  • Provide leadership and guidance to the Asia segment related to the management of risk
  • Proactively establish and oversee the implementation of appropriate risk management programs to ensure Asia segment is in compliance with all statutory and regulatory requirements. This includes providing appropriate independent risk oversight
  • The Risk Management function is accountable to ensure adherence to all policies, processes and limits by the various business areas across the Asia segment
  • Ensure that the Asia strategy is aligned with our risk appetite
  • Determine strategic direction for the Asia segment risk management program, covering new and existing business, and ensuring speed of delivery and quality service
  • Participate as a key decision-maker on major projects and initiatives with the Asia segment
  • Consult with and inform appropriate key stakeholders of significant risk matters especially those reflecting risk policy setting, risk appetite as well as product risks
  • Escalate matters of non-compliance with risk polices and standards in a timely manner

Product & Insurance Risk - Responsibilities:

Insurance Underwriting & Claims Risk

  • Responsible for policies, standards & best practices related to product & insurance risk
  • Review underwriting initiative gates and manage claims risk and technical communications
  • Research and monitor underwriting & claims developments (external & internal)
  • Lead semi-annual business audit review
  • Drive global underwriting initiative

Insurance Risk Management

  • Review and monitor experience studies & assumptions
  • Experience study standards and practices
  • Analyze external and internal trends & data (e.g. Critical Illness future mortality and morbidity improvements)
  • Review reinsurance gates. Maintain and educate on reinsurance policies and standards
  • Support actuarial aspects of underwriting initiative gate review

Product Risk Management

  • Responsible for ensuring that risks related to product development, pricing, underwriting, claims management, experience analysis and reinsurance are managed within our Global Risk framework.
    • New Business quarterly reporting & monitoring (internal & external)
    • New Business Plan – manage  process, review and reporting
    • Lead Projects including on new methodologies, metrics, and standards
    • Update Corporate Pricing Standards

Other Responsibilities:

People Leadership and Development:

  • Liaise with and influence internal and external stakeholders to ensure continuation and growth of Asia segment, while seeking changes to improve effectiveness and efficiencies in policy and processes. Model the values and professionalism of senior leadership in the capacity of CRO & Product Risk management.
  • Managing and leading a globally diverse team

Relationship Management:

  • Within Asia, this position identifies, prioritizes and influences risk management and reporting activities in all functional areas, building strong relationships with business leaders.
  • This role will provide guidance, ensuring appropriate measures are in place to identify and mitigate risks within Industry and Company standards.
  • Collaborate with and build strong working relationships with other members of the executive teams in Asia and within Group Functions

Key Problems/Challenges

  • Remaining current on regulatory, legislative, operational and financial risk management issues, in a fast paced and demanding environment.
  • Ability to work in a complex, rapidly growing Asian market spanning across various countries, regulatory requirements and market needs

Knowledge/Skills/Competencies/Education:

  • Demonstrate a strategic, disciplined, influential and collaborative approach; promote transparency
  • A minimum of 10 years of experience working in a financial institution, with exposure to product development and pricing
  • Thorough knowledge of financial institution markets and business operations, liabilities and assets (and preferably life insurance specifically) 
  • Solid knowledge of risks practices and how they impact financial institutions (and preferably insurance companies)
  • Significant ability to work effectively in a matrix organization and influence across organizational lines
  • High ability to collaborate with functions and divisions worldwide to develop solutions that will work for everyone
  • Strong communication, influence skills and analysis skills
  • Ability to communicate risk management practices to a wide range of internal and external stakeholders


If you are ready to unleash your potential, it’s time to start your career with Manulife/John Hancock.






About Manulife



Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of December 31, 2020, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, and in the previous 12 months we made $31.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.







Manulife is an equal opportunity employer. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention and advancement and we administer all of our practices and programs based on qualification and performance and without discrimination on any protected ground.
It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request any accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.

Chief Risk Officer & Head of Global Product & Insurance Risk

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