Aegon Life Insurance - Assistant Vice President - Risk (7-10 yrs)
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