Associate Director, Risk

AIA Philippines; Makati; On-site; PHP 3,000,000 - 4,500,000; Full time

Job summary

AIA Philippines invites a senior risk leader to report to the CRO and oversee risk teams across financial, product and operational domains. The role focuses on strengthening risk fundamentals and driving governance for the Philam Group.

You will develop and sustain risk management frameworks, monitor key financial risks, and communicate with risk committees and the Board while fostering a strong risk culture across the organization.

Qualifications

• Proven experience in establishing risk management frameworks in insurance.
• Strong ability to lead risk teams across financial, product and operations.
• Excellent written and oral communication, facilitation and project management skills.

Responsibilities

• Directly reports to the CRO on risk posture, key risks and required actions from management.
• Lead financial, product and operational risk teams on BAU and risk projects.
• Develop and implement a risk management framework for Philam Group entities.

Skills

Risk management leadership

Insurance industry knowledge

Communication & presentation

Team leadership

Analytical thinking

Education

FASP/AASP/FSA or equivalent

Job description

• Directly reports to the CRO the state of Risk team, key business risks and actions required from management, including ways to build/strengthen fundamentals of both financial and operational risk
• Direct and manage financial, product and operational risk teams on all business-as-usual matters as well as applicable Risk projects
• Develop and implement risk management framework that covers relevant entities within Philam Group
• Understand key financial risks (portfolio performance, market risks, financial performance risks, etc) in behalf of the company, its key stakeholders ie shareholders, customers, regulator, public and maintain timely information and risk impact consideration through ALCO, Investment Governance Comm and risk management committees.
• Develop and sustain programs to continuously improve risk culture across the organization
• Inform and seek appropriate approval from the risk committee.
• Manages the Risk Committee and Board Risk Committee decks as well as Group Risk certifications and updates so materials effectively communicate Philam Group’s key risks, impact and control effectiveness.
• Formulates key focus and priorities of CRO in developing and implementing continuous improvements/innovations on both financial and operational risk practices and approach, risk papers, including in the conduct of risk committee meetings
• Prepare program or plan to continuously engage management and utilize risk champions
• Oversee execution of transformation, business process application upgrades, digital and analytics development projects to ensure adequate key risk controls are implemented, project execution is smooth and change management is appropriate.
• Review risk assessment of key projects of Philam Group
• Deliver and communicate requirements of the CRO or Group Office as necessary
• Maintain timely information of market events and understand risk implications to the company.
• Communicates with CEO and Group Office, as necessary
• Develop relations with business units head to ensure up-to-date information about status of risks and emerging risks, if any
• Assist the CRO in review and sign-off of key business case

MINIMUM REQUIREMENTS:

• At least 10 years of experience in risk management or related fields (actuarial, internal audit), preferably having experienced in setting up risk management framework in insurance company, setting up of risk appetite and tolerances, and implementation of risk and control assessments and financial risk framework
• Preferably a FASP/ AASP/FSA (US or UK)/ CERA/ CRM
• Strong knowledge of insurance industry and operations
• Possesses leadership skills, skeptical, analytical, results oriented
• Collaborative and with untarnished reputation
• Excellent written and oral communication skills, presentation, facilitation and project management skills
• Has a good interpersonal skills and good in managing and developing people
• Strong-willed, hardworking, highly motivated and can work under stress