Financial Risk, Senior Principal

FIND YOUR 'BETTER' AT AIA

We don't simply believe in being 'The Best'. We believe in better - because there's no limit to how far 'better' can take us.

We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives.

If you believe in better, we'd love to hear from you.

About the Role

Oversees the identification, quantification, mitigation, monitoring and reporting of financial risks including insurance, expense, liquidity, market, and tax risks through close collaboration with the key 1st stakeholders. Provides assurance to the senior management that the risk management framework is effective and that financial risks are managed across the organization within the company's risk appetite and regulatory constraints. This role helps to safeguard the financial soundness of the company and enable informed decision-making through robust risk governance and strategic alignment.

Roles and Responsibilities:

Perform financial risk management (60%)

• Conduct comprehensive risk assessments on product, reinsurance and capital related initiatives, identifying potential risks and evaluating their potential impact on the company.
• Monitor and analyse the risks associated with the company's insurance portfolio, and ensure the effectiveness of the risk mitigating actions and compliance with internal policies, standards and regulatory guidelines.
• Support the identification, mitigation and monitoring of key risks during business/strategic planning.
• Contribute to the oversight of actuarial assumptions, reserving methodologies, and dividend declarations, ensuring alignment with risk management principles.
• Collaborate closely with Group Risk to develop and smoothly implement robust risk management strategies and frameworks related to financial risks that are aligned with the company's risk appetite and regulatory requirements.
• Provide guidance and support to key stakeholders on risk-related matters, offering insights and actionable strategies to mitigate risks.
• Stay up to date on industry trends, regulatory developments, and best practices in risk management, proactively influencing and facilitating necessary adjustments to risk management policies, standards and procedures.
• Contribute to the development and enhancement of risk management tools and methodologies, leveraging advanced analytics and technology to improve risk assessment capabilities.
• Provide a risk perspective on the capital strategy and deployment throughout the Group.

Reporting and Monitoring (as second line of defence) (30%)

• Support the delivery of the Own Risk and Solvency Assessment reporting to regulator.
• Provide support in preparing materials for relevant committee meetings, including the Financial Risk Committee and Product Development Committee.
• Facilitate regular risk reporting submission to Group Office, risk committees, board and escalation of key risks to management.
• Monitor adherence of risk tolerances and risk limits.

Engagement in other business initiatives & promote effective risk management culture (10%)

• Support the enterprise risk management framework.
• Provide independent advice to the business based on the nature and extent of company's risk exposure.
• Foster effective relationships with relevant stakeholders, actively engaging with the stakeholders to facilitate risk-related discussions and provide holistic, independent, and constructive risk advice.
• Performs other responsibilities and duties periodically assigned by supervisor to meet other requirements.

Minimum Job Requirements:

• University graduate with minimum 8/12 years relevant experience
• Qualified Actuary
• Strong problem-solving, analytical skills, effective communication and interpersonal skills
• Detail-oriented and highly organized, with the ability to manage multiple priorities and meet deadlines in a fast-paced environment
• Developed financial acumen and business orientation
• Good understanding and application of HK RBC and IFRS 17/ 9 will be an advantage
• Comfortable to give constructive challenge on key initiatives and projects and provide an independent assessment
• Ability to communicate the financial risk matters with senior management effectively

Others:

• You are required to obtain relevant license if your job involves in regulated activities

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

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