Senior Risk Manager, Insurance

GCB 4

We are currently seeking a high calibre professional to join our team as a Senior Risk Manager, Insurance.

In this role you will:

• Insurance product approvals – review and challenge the product approval submission from local entities.
• Insurance partner onboarding / renewals – Review & approve business case (including review of contractual/ remuneration terms, reputational risk, credit risk and third party due diligence).
• Third Party Product approval – Liaise with Insurance Third Party product team on pipeline assessments, review & approve third party products before launch (new product, variations, channel extensions) in accordance to defined oversight frameworks.
• Value Added Services – provide oversight on VAS approval framework operational effectiveness and input into VAS management framework enhancements.
• Provide risk support on any issues and participate in monthly market check-ins, to proactively understand business performance and strategy/ initiative pipelines. Ensure key risk issues and challenges have adequate mitigation / remediation plans in place.
• Review partnership management information and key country oversight committee (CSC) packs and escalate any material issues. Oversee products risk appetite metric, ensuring drivers for non-green metrics are addressed by markets in a timely manner.
• Provide input on partnership mandatory procedures / operating instructions and regularly review of partnership continuous monitoring activities (CMA) performed by First Line of Defence (FLOD).
• Lead partnership-related thematic reviews / assurance testing, as required.
• Provide subject matter expertise / advisory inputs on ESG and climate related matters to Insurance FLOD (e.g. Translate Group policies into insurance specific procedures and review subsequent updates, update/ review of ESG/ climate related Risk MIs, perform risk horizon scanning of emerging risk, response to Group requests), and other risk stewards/ local CROs (who oversee ins activities) upon request (including ORSA – climate risk section, business case for any ESG initiatives).
• Take the lead to be the Insurance risk contact including independently review & challenge of the annual climate risk materiality assessment, and any relevant publications from the lead regulator (PRA).
• Input to the relevant risk sections and provide timely 2LOD challenges in our external disclosures.

To be successful you will need:

• • Fellow of the Institute or Faculty of Actuaries, the Society of Actuaries or equivalent body.
  • Significant experience in product and/or pricing. 
  • Understanding of Participating, Non-participating and Universal Life business products, regulation and management across markets.
  • Experience in insurance distribution or ESG domain is preferred.
  • Demonstrated ability to partner with business stakeholders and collectively grow the business while minimising risk.
  • In-depth knowledge and understanding of the insurance industry and regulatory environment including current and emerging risks. 
  • Self-starter, independent with good communication and leadership skills.
  • Team player and high achiever with a positive attitude.

Opening up a world of opportunity
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Issued by The Hongkong and Shanghai Banking Corporation Limited.

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