Financial Risk Management-Insurance Risk

Financial Risk Management-Insurance Risk

AIA Group
5-8 years
Not Specified

Job Description


Bring your career aspirations to life with AIA!To enhance financial risk management capabilities of AIA China ERM
Roles and Responsibilities:
Risk Governance
  • Localize and implement AIA Group financial risk standards, including interest rate risk, liquidity risk, product risk and investment risk.
  • Enhance governance to fulfill regulatory requirements on financial risk management, including C-ROSS, ALM and investment related regulations
  • Support the organization of Financial Risk Committee meetings

Risk Strategy
  • Set and review financial risk tolerance and limits, respond to any breach

Risk Underwriting and Control
  • Coordinate Group capital, earning and liquidity stress testing, localize the methodology where applicable
  • Assess and quantify structural and investment risks and propose risk mitigations
  • Challenge 1st line of defense and provide a risk perspective on ALM/capital proposals and investment decisions, including SAA, duration target and derivative use
  • Review new products, in-force product changes, sales illustration and channel compensation scheme
  • Review reinsurance pricing, wording and retention limit changes
  • Support the deployment of Economic Capital and other risk models
  • Identify emerging structural, product and investment risks

Risk Disclosure
  • Conduct the Own Risk and Solvency Assessment (ORSA) or equivalent
  • Prepare or support internal and external risk reports

Minimum Job Requirements:
  • Bachelor's degree or above with major in Risk Management, Actuarial, Finance, Economics, Financial Engineering or related field
  • At least 5 years working experience in risk management or actuarial functions in life insurance companies or consulting firms
  • Solid knowledge in one or more of below areas is strongly preferred: product development and pricing, valuation and solvency reporting, ALM and capital management
  • ASA or equivalent actuarial certification is mandatory, other risk management related certification such as FRM/CFA would be beneficial
  • Ability to think laterally, to learn quickly and demonstrate commitment to high quality delivery
  • Fluent English and Chinese skills. Good communication and presentation skills.

Job Details

Employment Types:

Industry:

Function:

IT

About AIA Group

The roots of today's AIA Group can be traced to 1919 when entrepreneur Cornelius Vander Starr established his first insurance business in Shanghai, China. What followed was pioneering growth, securing AIA's position as the largest independent publicly listed pan-Asian life insurance group-spanning 18 markets and serving the holders of more than 38 million individual policies and more than 16 million group scheme members. AIA is based in Hong Kong and is listed on The Stock Exchange of Hong Kong under the stock code '1299' (ticker symbol: 'AAGIY'). AIA's contributions have supported social and economic progress across Asia, while also advancing the reach and impact of life insurance across the region. In 2020, we paid more than US$16 billion in benefits and claims, providing essential financial protection when it was needed the most. We also take pride in the long-term relationships we have developed with our customers and agents that in many cases have continued for generations. The insurance industry plays an important role in addressing the sustainability challenges our communities face. With this in mind, AIA's ambition is to be a global industry leader in Environmental, Social, Governance (ESG), shaping a sustainable future for the communities we serve and creating long-term value for our stakeholders. For more than a century, AIA has strived to make a significant, positive impact for our customers and communities across Asia. As we look to the future, this commitment is reinforced by our Purpose: to help millions of people live Healthier, Longer, Better Lives. Our Purpose guides the decisions we make and the actions we take as an organisation-empowering and enabling people to understand and manage their health, while meeting their long-term savings and protection needs. Helping create a healthier Asia is one of the most important and valuable things we can do for our communities, today and tomorrow.

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