Financial Risk Manager

Kotak Life Insurance PVT Ltd; Mumbai; On-site; INR 900,000 - 1,500,000; Full time

Job summary

Kotak Life Insurance PVT Ltd in Mumbai seeks a leader to strengthen the Financial Risk Management framework by overseeing ALM, capital and solvency management, liquidity and investment risk, and insurance risk.

The role involves stress testing, reviewing actuarial assumptions, evaluating product profitability and sustainability, and supporting strategic decisions through robust risk analytics and governance with close collaboration with actuarial, finance, investments and product teams.

Qualifications

• Experience in Financial Risk Management or Capital Management within Life Insurance.
• Knowledge of ALM, liquidity risk and market risk.
• Experience in risk analytics and governance.

Responsibilities

• Monitor and assess key financial risks including: Asset Liability Management (ALM).
• Review investment portfolio risk exposures and support risk-based investment decision-making.
• Develop and monitor Financial Risk Indicators and tolerance limits.

Skills

Actuarial knowledge

Risk management

ALM awareness

Stres s testing

Education

Actuarial student with progress

FRM certified / FRM course

CA / CFA / MBA (Finance) preferred

Job description

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
• 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.