Head of Strategic Risk Management and Risk Analytics

Generali Malaysia; Kuala Lumpur; On-site; MYR 180,000 - 280,000; Full time

Job summary

Generali Malaysia seeks a senior risk leader to implement and strengthen non-quantitative sustainability and strategic risk management frameworks. You will provide foresight on emerging risks to senior management and oversee risk analysis to support business planning and capital decisions.

Responsibilities include developing risk policies, coordinating audits, and promoting a strong risk culture across the organization. A rigorous actuarial/finance background and leadership skills are essential.

Qualifications

• University; Graduate or post-graduate level with concentration in quantitative discipline (Actuarial, Economics, Finance, Engineering, Statistic)

Responsibilities

• Lead non-quantitative, sustainability & strategic risk management frameworks.
• Provide insight on emerging non-quantitative, sustainability & strategic risks to senior management.
• Lead quantitative and qualitative risk analysis to support business planning and capital management.
• Develop, review and maintain risk policies, procedures and documentation.
• Prepare for and respond to audits or regulatory reviews related to non-quantitative, sustainability & strategic risk.

Skills

Leadership

Stakeholder management

Risk communication

Education

Graduate or post-graduate in quantitative discipline

Job description

• To support the Chief Risk Officer in implementing risk management strategies and capabilities that optimize the company’s risk-return profile in line with regulatory requirements and internal risk appetite.
• To lead and oversee the development, implementation, and continuous enhancement of the non-quantitative, sustainability & strategic risk management frameworks.
• To provide insight and foresight to senior management on emerging non-quantitative, sustainability & strategic risks and strategic decision making.
• To proactively identify, assess and monitor key non-quantitative, sustainability & strategic risks and escalat*er material issues as appropriate.
• To lead quantitative and qualitative risk analysis to support business planning, capital management and product development.
• To collaborate with internal stakeholders across departments to support the implementation of effective risk mitigation strategies.
• To monitor industry trends and regulatory developments, ensuring relevant updates are communicated and incorporated into risk practices.
• To lead the development, review and maintenance of non-quantitative, sustainability & strategic risk management policies, procedures and documentation.
• To lead in preparing for and responding to internal and external audits or regulatory reviews related to non-quantitative, sustainability & strategic risk.
• To lead a strong risk culture by promoting awareness and understanding of non-quantitative, sustainability & strategic risks across the organization.

Main Responsibility

• Sustainability Risk Management – To lead the implementation of climate, greenwashing, and sustainability risk management framework
• Model Risk Management – To lead the development and implementation of model risk management
• Strategic Risk Management - To support in strengthening overall risk assessments at company and business unit level by developing and running qualitative & quantitative risk assessments activities appropriate to the size and complexity of the Company
• Risk Reporting – to lead the efforts towards the completion of the Company’s regular risk reporting
• Risk Analytics - to focus on the day-to-day collection, management and transformation of risk data while preserving a high degree of integrity of the data and the associated processes
• Risk Culture – to lead training and awareness of risk culture

Qualification and Experience Requirement

University; Graduate or post-graduate level with concentration in quantitative discipline (Actuarial, Economics, Finance, Engineering, Statistic)

Desirable qualifications: ERM, FRM, FSA, CERA, CFA amongst other

Preferably completion of professional insurance qualification

10+ years working experience in an actuarial, insurance and/or financial risk management role in insurance industry

Proven leadership track by occupying similar positions where the risk management perspective is added to business goals and objectives

Expert in risk management practices of the insurance industry and/or financial service companies

Managerial understanding of risk dynamics and link with profitability & sustainability

Understanding of local insurance markets and competition landscape

Experience with managing a range of stakeholders

Innovative character driving for opportunities to achieve a profitable balance between risks and rewards

Credible and capable figure, key player of the management team; often regarded as a source of knowledge and experience

Influencing in persuading front-line management and risk owners to participate actively in the measurement, control and mitigation of risks by gaining the business leaders trust delivering advice and guidance on risk issues, risks related to new initiatives and strategic decision

Great communication skills to be able to convey complex risk information to senior management and key external stakeholders in a clear, concise and understandable manner

Expert in capital management, allocation concepts and methodology; understanding of the implications of changes in the company’s risk profile by single and joint risk factors

Strong understanding of regulatory and compliance issues and policies to ensure the company meets the expectations of regulators, credit rating agencies and investors

Understanding of regulatory risk management frameworks and requirements including the RBC frameworks

Highly proficient in the use of large and complex datasets

Strong foundation in actuarial practice, probability theories, stochastic calculus, and statistical analysis including time series modeling

Understanding of insurance products’ drivers and balance sheet/profit and loss levers

Fluent English verbal and written skills

Motivational skills

Team building and collaboration skills

Compliance (this is compulsory section)

Ensure compliance with the requirements of local regulations and all other relevant statutory regulations and guidelines, as well as relevant Company, Regional and Generali policies and procedure

Information Security (IS)

Responsible for defining requirements as regards to information availability, confidentiality, and integrity. Managers must ensure that all staff members (including temporary staff) and providers comply with the relevant security standards

• Perform risk analysis to determine risk and potential business impacts
• Liaise and co-ordinate with Information System Security Manager on all Information System Security activities within department
• Ensure compliance on Information System Security standards and Information System Security guidelines are adhere to within department

Data Privacy

Ensure compliance with Data Privacy laws and regulations, policies, standards, process and procedures implemented by the Company at all times

Diversity, Equity, Inclusion

Generali is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, gender identity, national origin, veteran or disability

status. At Generali, we believe that it is our differences that make the difference. At the heart of everything we do, we value the fact that we are all human beings, unique in our own ways, bringing different cultures, lifestyles, mindsets, and preferences. Our commitment is to leverage this Diversity to create long-term value, to be innovative, sustainable, to make the difference for our people, our clients, our partners as well as our communities. We strive to promote a culture where DEI is embedded in how we work and do business every day. All of us around the world are taking actions every day to create an inclusive and accessible workplace, where every person feels empowered to take ownership, to challenge biases and lead the transformation with a human touch.