Aegon Life Insurance - Assistant Vice President - Risk

AVP - Risk

Must Have's :

- 7-10 years of relevant experience into operational Risk

- Should be either from Life insurance or FinTech background.

About Us :

- Aegon Life Insurance Company Limited (ALIC) is focused on fulfilling its vision of creating tension-free lives. In pursuance of this goal, we provide a complete product suite, customized advice, and enhanced experience for all our customers.

- Aegon Life was formed with the coming together of AEGON N.V., an international provider of life insurance, pensions, and asset management, and Bennett Coleman & Company Limited (BCCL), India's largest media conglomerate popularly known as the Times Group. This union brings together a local approach, with global expertise of launching products that cater to different sets of customers to meet their long-term financial goals.

Role Details :

Department : Risk

Employment Type : Full Time

Role Summary :

- The Risk department, at ALIC, is a second-line function helping the organization mitigate financial and operational risks.

- Risk function operates as a team of consultants which follow a solutions-oriented approach for mitigating undesirable risks and identifying risk-taking opportunities.

ALIC is seeking a qualified candidate to fill the role of Operational Risk Management (ORM). This role will provide opportunities to :

- Understand and implement modern operational risk management techniques

- Assist the Head - Risk in enhancing Aegon Life's ORM framework and strengthening Aegon Life's operational risk culture

- Develop a sound understanding of life insurance business operations

- Work together closely with other departments in Aegon Life and Aegon's ORM team in Europe

Key Focus Areas :

- Responsible for the completion of the Risk Assessments for different functions and develop Risk Mitigation action plans

- Carry out detailed walkthroughs and process mapping to identify significant risks and controls.

- Oversee the operational risk incident management process to guarantee that timeliness, integrity, and quality control are maintained

- Operational risk reporting and KRI development / trend analysis

- Operational loss database maintenance and root cause analysis

- Oversight of operational risk-related policies

- Periodic risk control self-assessments

- Business continuity planning and testing

- Operational readiness for the launch of new life insurance products

- Driving company-wide risk awareness campaigns by providing support and- training- within the company

- Develop and maintain technical knowledge of systems and data to ensure optimal use of technology

- Work together with other organizational line of defence (i.e. Compliance, Internal Audit, Information Security etc.)

- Stay abreast of current industry standards