Job Description

Job Summary:

Support the Head of Financial Risk in:

  • Risk Governance and Risk Awareness: to ensure company meeting risk requirements of regulators and AIA (Group and Local), especially Financial Risk related requirements. Facilitate the Management team of AIAT to create risk awareness culture
  • Risk Oversight: to carry out the second line’s duties in managing financial risks. Work closely with the first line functions and provide them with the support and tools to effectively identify, assess, and mitigate financial risks.
  • Risk Assurance: to provide assurance to management that Financial risks are: 1) operates within risk appetite; 2) complies with local risk related regulatory requirements; 3) complies with Group Risk policies; 4) effectively operates local Financial Risk Committee. Ensure risk policies are being abided and that effective risk controls are in place.

Key Responsibilities:

  • Risk Governance and Training
    • Assist supervisor in updates to the risk principles and risk tolerances as necessary.
    • Help Group Risk and the first line functions to implement and localise the Group’s risk policies.
    • Provide training and support to first line functions on embedding risk policies.
    • Provide clarity on roles and responsibilities in carrying out financial risk management activities.
    • Ensure any new risk related guidelines or regulatory requirements are communicated to stakeholders and are being abided.
  • Risk Monitoring and Reporting
    • Asist with FRC presentation materials and secretarial duties.
    • Prepare regular risk reports, i.e. monthly risk update, Financial Risk Pack, Risk Watchlist, Risk dashboard, Pension risk report, QMR, etc.
    • Track product implementation status and ensure all significant risks are promptly escalated to the relevant stakeholders.
    • Assess, quantify, and monitor key insurance, investment and financial risks. Proactive discuss emerging risks and risk trends within Financial Risk team.
    • Escalate material breaches or issues to supervisor and/or management.
  • Provide Independent Risk Review and Feedback
    • Review the results of EC, Solvency Stress Test, Earnings at Risk, etc, and facilitate the communication of key insights and business implications to Risk team.
    • Review and comment on the Investment and ALM AAMPs as required by risk policies, e.g. credit, equity, derivative, FX, liquidity, ALM.
    • Involve and comment on new product risk assessments, covering both operational and financial aspects. ฃ
    • Contribute to product development process by providing comments from risk perspective on proposed product ideas or initiatives.
    • Have regular dialogues with the first line functions on risk issues. Attend committees and meetings and provide comments from the risk perspective as appropriate, e.g. at ALCO, IC/sub-IC, PDWG, PCWG, working group for ALM projects, etc.
    • Review and comment on the first line functions’ risk control processes.
    • Escalate material risk issues or risk control deficiencies to the Head of ERM and CRO.
  • Risk Initiatives and Projects
    • Assist in preparing quantitative or qualitative risk analysis on specific risk issues, e.g. of CA, SO, dividend short fall, etc.
    • Ongoing enhancement of risk models/tools, methodologies, and risk reports.
    • Assist the Head of Financial Risk to drive projects or initiatives as needed.
  • Others
    • Stay abreast of new developments and best practices in risk management.

Job Requirements:

  • Good knowledge and understanding about Life insurance Industry and the nature of its risks
  • Strong analytical & problem solving skills
  • Meticulous, systematic, responsible
  • Good interpersonal & management skills and able to work under pressure
  • Degree holder in Actuarial, Risk Management, Investment, or Finance
  • Strong knowledge in actuarial concepts and methodologies, investment analytics, risk management methodologies and industry best practices
  • Good command of both written & spoken English

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