Senior Manager, Life Risk, Governance & Solvency II

Location Hong Kong
Experience level Experienced Hire
Job details sector Risk Management
Apply before Date not available

Main Purpose:

 

1.     To ensure the effective implementation and compliance of AXA Group’s Risk Management Standard on life and health insurance risks, including policies and frameworks, in order to manage life and health insurance risks that may threaten attainment of AXA China Region’s strategies and goals

2.     To ensure completeness and adequacy of the validation cycle (internal and external) in accordance with Solvency II requirements

3.     To supervise the Life Risks & Solvency II Assistant Manager in establishing and ensuring an effective 2nd line of defense on life and health insurance risk management

4.     To develop and implement framework in conducting effective 2nd opinion on Product Approval Process, key financial metrics reporting, e.g. NBV, EEV, Inforce, STEC and Reserving (both IFRS and Local Statutory basis) and the reasonableness of the movements and sensitivities of these metrics before Group submission

 

Key Accountabilities:

 

1.     Ensure AXA Group’s Life and Health Insurance Risk Management Standards, policies and frameworks, are established and followed accordingly with appropriate adaption to AXA China Region’s operating condition, if needed

2.     Support Local Risk Committee on life and health insurance risk related matters, both technically and logistically

3.     Supervise the Life Risks & Solvency II Assistant Manager in establishing and ensuring an effective 2nd line of defense on life and health insurance risk management by providing technical 2nd opinion on:

·        Underwriting practices

·        Life & Health Insurance assumptions in STEC, EEV, NBV, IFRS reserving etc.

·        Appropriate risks are identified in new product pricing and facilitate the development of relevant risk mitigation plans

·        Appropriateness of experience studies and the tracking of updated experiences to support insurance assumptions setting

·        Policyholders’ bonus strategies

Methodology, assumptions and process review on EEV, NBV, Reserving (both IFRS and Local Statutory) and Sensitivities reporting as required by Group Risk Management

4.     Supervise the review and validation of reinsurance strategies and activities such as the execution of the reinsurance strategies, analysis of retention limits, catastrophe reinsurance capacity etc.

5.     Oversee the complete Risk Appetite Framework development & all risk limits (including Financial & Life Risks) monitoring by engaging in more technical discussions at the working level, if needed

6.     Supervise the delivery of all Solvency II requirements under the responsibilities of the local risk management team such as:

·        Enforcement of Solvency II Internal Model Validation Policy, performing the functions of Validation Coordinator, such as overseeing and coordinating the preparation of Internal Model Validation Report as well as challenging the validation activities

·        Ensure the Solvency II Use Test requirements are fulfilled

·        Ensure the Solvency II documentation framework are fulfilled according to Group guideline

·        Maintain general oversight on other Solvency II requirements

7.     Supervise and ensure the emerging risks framework for  Life and Health Insurance are implemented according to Group requirements

8.     Drive a sound risk culture, promoting open discussion within the business, debate and challenge across functional units, independent peer review as a norm with regard to key reports and decisions, and pro-active management of risks and issues. Work closely and collectively with functional units to support management in ensuring their risks are identified, assessed, reported and managed


  •     Qualified or nearly qualified Actuary
  •     10 or more years’ experience in the life insurance industry
  •     Experience in leading a small team
  •     Strong organizational, problem solving and communication skills
  •     Able to work independently as well as a good team player
  •     Good command of business English, both in written and spoken form




Would you like to wake up every day driven and inspired by our noble mission and to work together as one global team to empower people to live a better life? Here at AXA we strive to lead the transformation of our industry. We are looking for talented individuals who come from varied backgrounds, think differently and want to be part of this exciting transformation by challenging the status quo so we can push AXA - a leading global brand and one of the most innovative companies in our industry - onto even greater things.

 

In a fast-evolving world and with a presence in 64 countries, our 166,000 employees and exclusive distributors anticipate change to offer services and solutions tailored to the current and future needs of our 103 million customers.


AXA Hong Kong, a member of the AXA Group, prides itself of serving over 1 million customers in Hong Kong and Macau. Besides being one of the largest health protection providers in Hong Kong, it is also the number 1 General Insurance provider1 and a market leader in motor insurance.

AXA Hong Kong is committed to helping its customers achieve stability and prosperity through providing a comprehensive range of life, health, property and casualty protection, as well as wealth management and retirement solutions.

We believe it is our inherent responsibility to support the communities we operate in, hence creating a sustainable business via constant and considerable contribution in the dimensions of health, environment and the community.

1Based on 2013 Office of the Commissioner of Insurance market share statistics



We offer excellent career prospects and attractive remuneration package to the right candidates.