Lead - Financial Risk - Actuarial - Life Insurance

- To provide an effective financial risk management strategy for meeting business objectives, and carry out independent evaluation/assessment/quantification of financial risks to facilitate risk-based decision making in key committees such as Risk management/ALCO, and Investment.

Key Responsibilities :

Responsibilities :

- To develop financial risk management framework/strategy as per company's business objectives and risk appetite.

- To develop/improve/update financial risk appetite/policies/ tolerances as per changing business/market dynamics.

- To work collaboratively with senior management team and credibly challenge strategies/policies based on independent risk assessments/inputs to facilitate risk- based decision making.

- To conduct research/statistical analysis to assess the frequency and severity of risk events through stress testing, sensitivity analysis etc.

- To develop, calibrate, and run high-quality risk models for quantification and assessment of risk.

- To proactively identify material changes in risk profile and emerging risks.

- To perform financial risk reviews for Market and Credit risk.

- To ensure ALM risk management - liquidity risk and interest rate risk.

- To ensure execution of hedging strategies and monitoring its effectiveness on continuous basis- To use sound understanding of derivative instruments for creation of hedging strategies.

- To monitor/analyse key financial matrices and assess the potential impact of changes in them on the financial strength of the company.

- To develop and document the risk methodology and policies/procedures.

- To ensure continuous improvement in risk management framework and monitoring tools.

Specific Authorities (Financial & Non Financial) :

- Authorized to access investment/actuary/finance/corporate planning files and use data for risk monitoring, analysis and reporting.

HR/ JD/ Ver1.0/1 st Feb 2020

Internal

Key Performance

Indicators

- Proactive identification of material changes/trends in risk profile and timely reporting for remedial actions.

- Flagging of evolving/emerging risks through periodic analysis and timely market updates.

- Ensure 100% compliance with all regulatory/compliance guidelines.

- Benchmarking of our processes with best practices and sharpening focus on key risk areas through knowledge sharing.

- New initiatives & process improvements/model creation/upgradation.

Job Requirements :

Qualifications :

- Actuarial candidates (with minimum 10 papers and specialization in investments) are preferred.

OR

- CFA/FRM or other investment/risk certification required. Experience 6-8 years of experience in the life Insurance industry preferred, especially practical working knowledge of ALM and working in investment/risk department.

Functional Competencies :

- MS Suite

- Analytical skills

- Business knowledge : Understanding of financial markets and products including derivative instruments and their use for creation of hedging strategies. Understanding of insurance product cashflows and financial reporting would be helpful.

- Risk Management: Understanding of financial risk measurement and management including derivative instruments and their use for creation of hedging strategies

Behavioral Competencies :

- Business acumen

- Growth through differentiation

- Collaboration

- Building Talent and Teams

Key Interactions :

Internal Nature or purpose of interaction :

- Investment Front Office

- Asset Cash flows and ALM/other assets

- Investment Back Office

- Regulatory limits/compliance

- Actuary Team

- Liability cash flows and products, EV related details

- Finance/Planning Team

- Financial statements, operating plan, revenue/expense forecasts

- External Nature or purpose of interaction

- Group Risk Team

- Emerging risks/exceptions, ERM/risk guidelines