This role is in charge of the financial risk management (FRM) program of Chubb Life Insurance Hong Kong Limited (as Chubb or the Company) including FRM development and its day-to-day operations.

This role directly reports to Head of Risk of the Company and also provides support to other risk management areas such as Enterprise Risk Management (ERM) / Own Risk and Solvency Assessment (ORSA) required under Hong Kong Risk Based Capital (HKRBC), and operational risk management where relevant and needed.

We are seeking a detailed-orientated, dynamic & self-driven Risk Manager with strong actuarial analytical skills, business acumen and a solution(s) driven personality to join our Risk Management Team.

Under the direction of Head of Risk, the responsibilities of the role are to: 

Ensure the Chubb’s Life Insurance Risk and Financial Risk Management Standards, policies and frameworks, are established and followed in accordance with Chubb’s evolving business and operating conditions, with appropriate adaptation if needed. Lead and perform the Life Insurance Risk and Financial Risk work and matters to establish and identify enhancement opportunities of FRM / ERM program (in parallel to internal or external changes such regulatory changes), and ensure continuing an effective second line of defence by providing technical second opinions and preparing analyses/reports in areas such as: Prepare ORSA report, Recovery Plan and Model Validation report (and related deliverables); and Perform risk assessments and analytics in: New product development, pricing and reinsurance based upon respective teams’ proposals or report; Policyholders’ bonus strategies and annual recommendations; Investment, ALM and hedging strategies, Strategic Assets Allocation, new asset class assessment; Best estimate assumptions review in the relevant financial reporting, reserving and capital regime (e.g., Local Statutory, IFRS, HKRBC, etc.); Capital management and optimization strategies; and Liquidity stress and contingency plan, etc. Support Head of Risk to provide 2nd opinion on the Company’s Strategic Plan, including: Setting / enhancing governance procedures and providing reviews in relation to various business initiatives; Identification of emerging risks; Marketing and campaign initiatives; Underwriting & claims practices. Ensure the maintenance and continuous development of the Risk Appetite Framework, including annual review, determination of risk limits and quarterly quantification of risk positions in all Life Insurance and Financial related risks. Ensure that comprehensive risk profiles are prepared and maintained through close collaboration with business functions such as Investment, Finance, Product, Operations, Compliance, Legal, Marketing and Actuarial team. Provide necessary support for the annual risk assessment process centrally organized by risk department. Develop and drive specific Life and Financial risk mitigation strategies, including coordination with stakeholders on implementation and monitoring, as well as leading and participating in ad-hoc projects based on management requests or external developments. Drive communication and awareness on the latest product governance. Appropriately challenge the first line to ensure adequate consideration in product development on key risks and financial metrics, customer value, fair treatment of customers, and business/channel monitoring mix. Review reinsurance arrangements including analysis of retention limits, catastrophe reinsurance capacity etc. Actively oversee the financial, ALM and investment risk profiles and financial risk mitigation strategies: Collaborate with Investment department in the formulation, implementation and monitoring of risk mitigation strategies; and Participate in the approval process of investment initiatives (incl. new non-traditional investment, hedging strategies, derivative programs and custodian/external manager selection), provide risk management opinion and steer actions towards effective risk management. Support ERM program and the delivery of internal and external reporting requirements under the responsibilities of the local risk management team such as: Support the Head of Risk in managing the group reporting, and local reporting to management team, risk committee and the board of the Company; and facilitate the responses to internal / external queries such as regulators; and Support the ORSA program and reporting, and relevant risk framework and policies. Collaborate with various functions to foster a risk-aware culture. Coach and guide junior team member in risk management practices to enhance the team performance. Qualified Actuary or close to qualification. Candidate should have at least 8 years of risk or actuarial (or relevant) working experience, and the majority of experience should be from Life Insurance, including commercial or Big 4 professional experiences in ERM / risk management or its relevant areas. Preferably,  First line experiences in Actuarial, product pricing, valuation, risk areas; and / or  Actuarial background and working experience in HKRBC or Solvency II (or similar) modelling or ORSA report drafting. Essential for the candidate to have the experience and skillsets required for financial calculation and analytics, in some of such areas as investment, asset liability mismatching, insurance pricing, solvency, or liquidity etc. Good sense of risk management framework, internal controls, analytics and etc, including full cycle of risk processes, i.e. risk assessments and internal/external reporting. Proficient in MS Office, especially in MS Word & Excel, and excellent written reporting.  Proficient in Risk Management & Actuarial systems/tools such as Prophet is a must. Strong analytical, investigation and problem-solving skills. Adaptable, personable and will thrive in a dynamic work environment. Independent, solutions-oriented, approachable and highly organized. Excellent command of spoken and written English and Chinese languages. Excellent communication, interpersonal and presentation skills. Essential with an ability to translate complex or technical areas into common languages, and report or present the risk matters in a highly summarized format to the local and global management team and the board, especially to those who is not specialized in technical or actuarial areas, or local knowledge; Essential with working experience in drafting and preparing written reports in risk related areas, and preferably with past experience in drafting ORSA reports under HKRBC or Solvency II; and Preferrable with working experience in leading or participating in various governance committees, such as risk committee, product, investment, reinsurance, actuarial committees and etc.