Financial Risk Manager

Institute of Management Accountants, Inc.; Mumbai; On-site; INR 1,400,000 - 2,300,000; Full time

Job summary

Institute of Management Accountants, Inc. in Mumbai is seeking a Financial Risk Manager at AVP/DVP level to lead the risk management framework, oversee ALM, liquidity, and solvency, and strengthen risk analytics.

The role involves collaboration with actuarial, finance, investments and product teams, evaluating product profitability and risk, and supporting strategic decisions under regulatory requirements.

Qualifications

• Post graduate degree in a relevant field.
• FRM certification or course completed.
• CA/CFA/MBA (Finance) will be an added advantage.

Responsibilities

• Monitor and strengthen ALM, liquidity, and capital risk management.
• Analyse investment portfolio risk exposures and advise on mitigation.
• Review product profitability and sustainability from a risk perspective.
• Conduct stress testing and assess solvency and ORSA relevance.
• Collaborate with actuarial, finance, investments and product teams.
• Review actuarial assumptions and models affecting profitability.
• Ensure compliance with regulatory requirements and governance.

Skills

Risk management

Financial analysis

Governance

Stakeholder management

Education

Post graduate

Job description

Financial Risk Manager

Role: Financial Risk Manager

Job Title: AVP / DVP

Department: Risk Management

Education: Post Graduate

Experience: 6 years +

Work Location: Goregaon (East), Mumbai

Role Purpose

To lead and strengthen the Financial Risk Management framework of the Company by overseeing Asset Liability Management (ALM), Capital and Solvency Management, Liquidity Risk, Investment Risk, and Insurance Risk. The role will be responsible for assessing financial resilience through stress testing, reviewing actuarial assumptions and models, evaluating product profitability and sustainability, and supporting strategic decision-making through robust risk analytics and governance.

Closely with the Actuarial, Finance, Investments & Product team to ensure effective management of financial and insurance risks in line with Regulatory requirements and industry best practices.

Key Responsibilities

Financial Risk Management

• Monitor and assess key financial risks including:
• Asset Liability Management (ALM)
• Interest Rate Risk
• Liquidity Risk
• Capital Risk
• Investment Portfolio Risk
• Market Risk
• Analyse asset-liability mismatches and recommend mitigation strategies.
• Review investment portfolio risk exposures and support risk-based investment decision-making.
• Develop and monitor relevant Financial Risk Indicators and tolerance limits.

Insurance Risk Oversight

• Assess and monitor insurance-related risks including:
• Mortality Risk
• Longevity Risk
• Morbidity Risk
• Expense Risk
• Lapse/Persistency Risk
• Review emerging experience trends and evaluate implications on business profitability and solvency.
• Support risk assessment of new business initiatives and product developments.

Product Profitability & Sustainability Assessment

• Evaluate product design from a risk and profitability perspective.
• Review pricing methodologies and assumptions used in product development.
• Assess product profitability, value creation, sustainability, and risk-return trade-offs.

Capital Management & Stress Testing

• Review capital adequacy, solvency position, and capital utilization.
• Support Own Risk and Solvency Assessment (ORSA) activities.
• Assess impact of economic and insurance risk scenarios on profitability, capital, and solvency

Educational Qualification

• Actuarial Student with significant progress in actuarial examinations or
• FRM (Financial Risk Manager) certified / FRM course completed.
• Additional qualifications such as CA, CFA, MBA (Finance) will be an added advantage.

Experience

• Relevant experience in Financial Risk Management, Actuarial, Enterprise Risk Management, or Capital Management within the Life Insurance industry.