Chief Risk Officer & Head of Global Product & Insurance Risk

Chief Risk Officer & Head of Global Product & Insurance Risk

The Manufacturers Life Insurance Co (Phils) Inc( Manulife Philippines )
10-13 years
Not Specified

Job Description


Are you looking for a supportive, collaborative workplace with great teams and inspiring leaders You've come to the right place. We're looking for ambitious people who share our values and want to make every day better for people around the world. If this sounds like you, and the career below sounds exciting, we'd like to hear from you.
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

Every career at Manulife/John Hancock provides the opportunity to learn new skills and move your career forward. Ready to make an impact somewhere What are you waiting for Apply today.
About John Hancock and Manulife
John Hancock is a unit of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States, and Manulife globally, including Canada, Asia and Europe. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were CAD$1.3 trillion (US$1.1 trillion) as of June 30, 2021. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com (https://www.manulife.com/).
One of the largest life insurers in the United States, John Hancock supports more than 10 million Americans with a broad range of financial products, including johnhancock.com (https://www.johnhancock.com/index.html).
Manulife is an Equal Opportunity Employer
At Manulife/JohnHancock, we embrace our diversity. We strive to attract,developandretaina 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,advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin,colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.
It is our priority to remove barriers toprovideequal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process.All information shared during the accommodation request process will be stored and used in a manner that is consistent withapplicable laws and Manulife/John Hancock policies.To request a reasonable accommodation in the application process, contact [Confidential Information] (mailto:[Confidential Information]).

This is a values-led organization where people bring their passions, ambitions, and the full scope of their life experience to work. This makes for a stronger community, culture, and business. Individually and collectively, we are harnessing our potential, and exploring new opportunities we'd never imagined.We're consistently recognized as a top employer. We offer work that challenges and makes a difference within a flexible and supportive environment, so you can help make decisions easier and lives better for our customers.Recent Awards include:Forbes 2020 World's Best EmployersGreater Toronto's Top Employers 2020Canada's Top Employers for Young People 2020Canada's Best Diversity Employers 2020For Manulife/John Hancock's most recent jobs sent directly to your inbox, please create an account/ sign in and click on ‘Job Alerts' in the top right corner of the page to sign up.

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