Manager – Financial Risk – Life Insurance

Serving Skill; Mumbai; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

A financial services firm in Mumbai is seeking a Financial Risk Manager to oversee risk profiles and enhance reporting quality. The ideal candidate has 5-10 years of experience in life insurance, with strong skills in financial risk analysis and model validation. A blend of business acumen and analytical skills is essential for this role, which offers a dynamic work environment.

Qualifications

• 5-10 years’ experience in the life insurance industry and/or investment/financial risk department.
• Strong understanding of financial risk measurement & management.

Responsibilities

• Provide oversight of aggregated risk profile and monitor risk exposure.
• Perform financial risk reviews for various types of risk.
• Control Investment Risks and quantify potential impact.

Skills

Financial risk analysis

Market risk understanding

Model validation

Education

MBA or degree in Engineering/Finance/Economics

CFA/FRM or other certifications

Job description

Financial Risk Manager – Life Insurance

To work closely with CRO and Head – Financial Risk and provide risk inputs to enhance the quality of reporting and to facilitate risk-based decision-making in key committees such as Risk management/ALCO, and IC.

Key Responsibilities

• To Pro-actively provide oversight of aggregated risk profile, monitor risk exposure against appetite, identify trends, material changes in risk profile and emerging risks.
• To perform financial risk reviews for Market Risk (Equity and Interest Rate), Liquidity risk, Credit risk etc.
• To control Investment Risks by monitoring the portfolio at regular intervals and quantify risks/potential impact on the firm.
• To design management dashboards on performance/risk parameters of investments and exposures/limits etc.
• To develop models used in the domain of ALM, market risk, credit risk, asset risk, and other risk domains
• To perform model validation and analytical processes such as ALM calculations, scenario analysis, stress testing etc. and report the performance of the models/findings to senior management
• Preparing presentation for ALM Committee and Risk Management Committee meetings etc.

Specific Authorities Financial & Non- Financial

• Authorized to access investment/actuary/finance/corporate planning files and use data for risk monitoring, analysis and reporting.

Key Performance Indicators

• Pro-active identification of material changes/trends in risk profile.
• Flagging of evolving/emerging risks through periodic analysis and timely market updates.
• Sharpening focus on key risk areas through knowledge sharing and adoption of best practices.
• Ensuring 100% compliance with regulatory guidelines/limits.
• New initiatives & process improvements/model creation/upgradation.

Job Requirements

Qualifications

• MBA, Degree in Engineering/Finance/Economics preferred
• CFA/FRM or other investment/risk certifications desired
• 5-10 Years’ experience in the life Insurance industry and/or investment/financial risk department preferred.

Functional Competencies

• MIS and Analytics
• Business Knowledge: Understanding of financial markets and products
• Risk Knowledge: Understanding of financial risk measurement & management, and derivative instruments and their use for creation of hedging strategies.
• Basic Skills: Understanding of Life insurance systems, processes and products

Behavioral Competencies

• Business Acumen
• Collaboration
• Execution Excellence