Star Union Dai-ichi Life Insurance - Manager/Senior Manager - Financial Risk Management

Star Union Dai-chi Life Insurance (SUD Life) is a Joint Venture of Bank of India and Union Bank of India, two leading Public Sector Banks in India and the Dai-ichi Life Insurance Company Limited, a leading Japanese Company in the Life Insurance market.

We are looking for the below position:

Manager/ Sr. Manager - Financial Risk Management

Financial Risk Management:

- Design implement & monitor the effective Financial Risk Management (FRM) framework which enables the company to identify, take and manage financial risks appropriately in all aspects both in short and long term that is consistent with general regulatory requirements and best industry/global practices/standards.

- Facilitate, monitor, provide solutions, design and implement on effective risk identification, measurement and control for, a) cross-functional risk management frameworks including ALM, (investment) asset allocation and solvency/capital adequacy control, as well as b) critical functions including actuarial (insurance product related valuation/accounting, product pricing etc.), investment and business planning, in collaboration with respective risk owners.

- Monitor & analyze various financial risks like market risk, interest rate risk, equity risk, liquidity risk etc & evaluate / suggest control/mitigation measures.

Overall Risk Management:

- Design implement & monitor the adherence across the organization, the effective Enterprise Risk Management (ERM) framework which enables the company to identify, take and manage risk appropriately in all aspects both in short and long term that is consistent with general regulatory requirements and best industry/global practices/standards.

- Identify the risks inherent in the company's business and operation including those may arise from changes in internal/ external environment such as economy, politics, law & regulations, social welfare system, people's mind set & behaviour, emerge of new financial instruments/market, new technology and organization/process .

- Analyse the impact of new and existing risks to the company, find mitigation/preventive measures, monitor and give appropriate alert & suggestion to the senior management as well as respective functions of the company in right timing, or/and let respective risk owners do the same for the risks related to their respective functions.

- Create appropriate risk awareness across the organization by effective communication and training.

- Execute and let respective functions perform the specific activities led by Risk Management, including but not limited to bottom-up & top-down risk assessment, control testing, incident management and so forth.

- Document, have periodical review and have appropriate amendment on the policies and procedures such as Risk Management Policy required to achieve above efficiently and consistently.

- Perform appropriate monitoring and report based on such documents or/and rules as well as on adhoc basis when required and appropriate. Such process may include periodic calculation of specific figures related to risk management, capital adequacy (solvency) and so forth.

- Assist and collaborate with relevant departments/organizations to develop and improve effective monitoring and reporting framework in the company.

- Participate in external ERM organization/event, including those organized by promoter(s), when appropriate and keep abreast of best industry/global practices and trends, including promoter(s) requirement.

Others:

- Projects (departmental or cross-functional) undertaken by the team in any aspect of business.

- Budget management for the department.

- Audit and internal control management for the department.

- Attending training's designed for enhancing skills and knowledge.

Candidate should possess:

- In-depth understanding of FRM frameworks & knowledge of financial risk management best practices and protocols.

- In-depth knowledge of the Life Insurance Company's products, financials and operations.

- In-depth knowledge on investment, finance, Indian & global financial market and financial instruments.

- Reasonable understanding of ERM frameworks & knowledge of risk management best practices and protocols.

- Analytical, mathematical and basic application skills to produce and present quantitative and qualitative analysis.

- General knowledge on life insurance and pension.

- Strong interpersonal skills

- CFA / FRM / CA degree preferable. Actuarial background / pursuing actuarial preferable.

- Open to work extended hours and be available as per Company's requirement.

- Limited travel may happen but not a regular requirement.