Head, Financial, Insurance & Actuarial Risk Management

Generali MalaysiaKuala Lumpur, Kuala Lumpur, Malaysia

13 days ago

Job description

Head, Financial, Insurance & Actuarial Risk Management

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Job Summary

To support the Chief Risk Officer in implementing risk management strategies and capabilities that optimize the company’s risk-return profile in line with regulatory requirements and internal risk appetite.
To lead and oversee the development, implementation, and continuous enhancement of the financial, insurance & actuarial risk management frameworks.
To provide insight and foresight to senior management on emerging financial, insurance & actuarial risks and strategic decision making.
To proactively identify, assess and monitor key financial, insurance & actuarial risks and elevate material issues as appropriate.
To lead quantitative and qualitative risk analysis to support business planning, capital management and product development.
To collaborate with internal stakeholders across departments to support the implementation of effective risk mitigation strategies.
To monitor industry trends and regulatory developments, ensuring relevant updates are communicated and incorporated into risk practices.
To lead the development, review and maintenance of financial, insurance & actuarial risk management policies, procedures and documentation.
To lead in preparing for and responding to internal and external audits or regulatory reviews related to financial, insurance and actuarial risk.
To lead a strong risk culture by promoting awareness and understanding of financial, insurance & actuarial risks across the organization.

Main Responsibility

To lead on the assessment, improvement and oversight of financial, insurance & actuarial risks of the company’s RAS (Risk Appetite Statements), key risk indicators & risk limits based on risk management policies and guidelines.

To lead the development of models, methodologies, data, processes, controls and platform required for the calculation, assessment and reporting based on the results of the regulatory Risk Based Capital Regime and other regulatory risk management requirements.

To lead risk assessments at company and business unit level by running and / or support financial, insurance & actuarial risk assessments appropriate to the size and complexity of the Company.

To lead and coordinate the efforts towards the completion of reporting requirements for financial, insurance & actuarial risk management.

To lead and coordinate the efforts towards the completion of Generali Group’s regular Solvency Capital Requirement (SCR) calculation activities.

To implement and continuously improve financial, insurance & actuarial risk related policies and guidelines.

Qualification and Experience Requirement

University; Graduate or post-graduate level with concentration in quantitative discipline (Actuarial, Economics, Finance, Engineering, Statistics).

Desirable qualifications : ERM, FRM, FSA, CERA, CFA amongst others.

Preferably completion of professional insurance or actuarial qualification.

10+ years working experience in an actuarial, insurance and / or financial risk management role in insurance industry.

Proven leadership track by occupying similar positions where the risk management perspective is added to business goals and objectives.

Expert in risk management practices of the insurance industry and / or financial service companies.

Managerial understanding of risk dynamics and link with profitability & sustainability.

Understanding of local insurance markets and competition landscape.

Experience with managing a range of stakeholders.

Innovative character driving for opportunities to achieve a profitable balance between risks and rewards.

Credible and capable figure, key player of the management team; often regarded as a source of knowledge and experience.

Influencing in persuading front-line management and risk owners to participate actively in the measurement, control and mitigation of risks by gaining the business leaders trust delivering advice and guidance on risk issues, risks related to new initiatives and strategic decisions.

Great communication skills to be able to convey complex risk information to senior management and key external stakeholders in a clear, concise and understandable manner.

Expert in capital management, allocation concepts and methodology; understanding of the implications of changes in the company’s risk profile by single and joint risk factors.

Strong understanding of regulatory and compliance issues and policies to ensure the company meets the expectations of regulators, credit rating agencies and investors.

Understanding of regulatory risk management frameworks and requirements including the RBC frameworks.

Highly proficient in the use of large and complex datasets.

Strong foundation in actuarial practice, probability theories, stochastic calculus, and statistical analysis including time series modelling.

Understanding of insurance products’ drivers and balance sheet / profit and loss levers.

Ability to lead a team of risk analysts.

Fluent English verbal and written skills.

Motivational skills.

Compliance (this is compulsory section)

Ensure compliance with the requirements of local regulations and all other relevant statutory regulations and guidelines, as well as relevant Company, Regional and Generali policies and procedures.

Information Security (IS)

Responsible for defining requirements as regards to information availability, confidentiality, and integrity. Managers must ensure that all staff members (including temporary staff) and providers comply with the relevant security standards.

Perform risk analysis to determine risk and potential business impacts.

Liaise and co-ordinate with Information System Security Manager on all Information System Security activities within department.

Ensure compliance on Information System Security standards and Information System Security guidelines are adhere to within department.

Data Privacy

Ensure compliance with Data Privacy laws and regulations, policies, standards, process and procedures implemented by the Company at all times.

Diversity, Equity, Inclusion

Generali is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, gender identity, national origin, veteran or disability status.

At Generali, we believe that it is our differences that make the difference. At the heart of everything we do, we value the fact that we are all human beings, unique in our own ways, bringing different cultures, lifestyles, mindsets, and preferences.

Our commitment is to leverage this Diversity to create long-term value, to be innovative, sustainable, to make the difference for our people, our clients, our partners as well as our communities. We strive to promote a culture where DEI is embedded in how we work and do business every day. All of us around the world are taking actions every day to create an inclusive and accessible workplace, where every person feels empowered to take ownership, to challenge biases and lead the transformation with a human touch.

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Financial Management • Kuala Lumpur, Kuala Lumpur, Malaysia