Vice President, Financial Risk Management (Solvency) - HSBC Life

HSBC LIFE (SINGAPORE) PTE. LTD.; Singapore; On-site; SGD 180,000 - 260,000; Full time

Job summary

HSBC Life Singapore is seeking a Vice President, Financial Risk Management (Solvency) to lead Solvency II production, reporting and governance across the data, models and methodologies used for regulatory and financial risk analysis.

You will evaluate business initiatives, product changes and capital implications, while managing sensitivities, stress tests and scenario analyses. Strong communication with governance committees is required.

Qualifications

• Strong knowledge of Solvency II, regulatory reporting, regulatory and economic capital, stress testing and scenario analysis.
• Ability to analyse complex results, assess solvency and financial impacts, evaluate uncertainty and emerging risks and apply sound judgement.
• Experience in challenging/understanding data, methodologies, model outputs and management actions, with knowledge of internal models, standard formula methodologies or model governance preferred.
• Proven ability to lead accurate and timely reporting processes, including reconciliations, reviews, sign-offs, controls, governance papers and regulatory submissions.

Responsibilities

• Solvency II Production, Reporting and Management Insight: Lead the end-to-end production of Solvency II results and related metrics, including reconciliations, capital movement analysis and sensitivities.
• Data, Models and Methodologies: Develop, maintain and execute actuarial models, assumptions and methodologies supporting Solvency II calculations and financial risk analysis.
• Business, Investment and Product Assessments: Evaluate the Solvency II and risk implications of business initiatives, investment decisions, new products and material portfolio changes.
• Sensitivity, Stress Testing and Scenario Analysis: Produce and interpret sensitivities, stress tests and scenario analyses covering relevant actuarial, financial and solvency risks.
• General Risk Management Support: Contribute to risk reporting and the Own Risk and Solvency Assessment, ensuring outputs meet regulatory, governance and quality standards.

Skills

Solvency II

Regulatory reporting

Stakeholder management

Data analysis

Education

Actuarial qualification

Job description

Some careers have more impact than others. If you're looking for a career where you can make a real impression, join HSBC and discover how valued you'll be. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC Life is a world-class institution where you can specialize in Insurance but enjoy the advantages that come with being part of a leading global international bank. Here you can specialize in Insurance but enjoy the advantages that come with being part of a leading global international bank.

Insurance is about people, and the promises they make. At HSBC Life in Singapore we help deliver on these promises by providing a wide variety of life insurance products and services to our clients throughout the Asia-Pacific region. Our employees enjoy a dynamic and innovative workplace and a world of opportunities to develop their careers in a high-profile growing business segment. We empower our combined team of high-performing individuals to build skills and explore new experiences to realise the full potential of being part of HSBC.

Together we will pursue efficient ways of working. We will harness the latest data and technology solutions to achieve meaningful outcomes for our clients. And the protection we offer will create broad and lasting impact, helping clients to be healthier, more productive and more confident in their futures.

We are currently seeking a high calibre professional to join our team as a Vice President, Financial Risk Management (Solvency).

In this role you will:

• Solvency II Production, Reporting and Management Insight: Lead the end-to-end production of Solvency II results and related metrics, including reconciliations, capital movement analysis and sensitivities. Maintain a controlled reporting timetable and provide clear analysis of key drivers, implications and recommended actions.
• Data, Models and Methodologies: Develop, maintain and execute actuarial models, assumptions and methodologies supporting Solvency II calculations and financial risk analysis. Ensure they remain robust, fit for purpose, well documented and compliant with Group standards. Oversee data preparation, validation, reconciliation and assess the appropriateness of Solvency II specific assumptions and expert judgement. Maintain effective model governance, change controls and supporting documentation.
• Business, Investment and Product Assessments: Evaluate the Solvency II and risk implications of business initiatives, investment decisions, new products and material portfolio changes. Provide solvency II analysis to support business planning, product development, capital allocation, investment and reinsurance decisions. Identify key risks, assumptions, dependencies and potential unintended consequences, and present clear conclusions and recommendations to stakeholders and governance committees.
• Sensitivity, Stress Testing and Scenario Analysis: Produce and interpret sensitivities, stress tests and scenario analyses covering relevant actuarial, financial and solvency risks. Assess the impact of adverse market conditions, experience deterioration and business changes on Solvency II metrics and capital resilience. Ensure analyses are appropriately designed, documented, reviewed and controlled. Highlight key vulnerabilities, uncertainties and mitigating actions, and communicate conclusions clearly to management and relevant committees.
• General Risk Management Support: Contribute to risk reporting and the Own Risk and Solvency Assessment, ensuring outputs meet regulatory, governance and quality standards. Support the independent review of RBC2 Matching Adjustment performed by Actuarial.

To be successful you will need:

• Strong knowledge of Solvency II, regulatory reporting, regulatory and economic capital, stress testing and scenario analysis, supported by a professional qualification in actuarial science or a related discipline.
• Ability to analyse complex results, assess solvency and financial impacts, evaluate uncertainty and emerging risks and apply sound judgement.
• Experience in challenging/understanding data, methodologies, model outputs and management actions, with knowledge of internal models, standard formula methodologies or model governance preferred.
• Proven ability to lead accurate and timely reporting processes, including reconciliations, reviews, sign-offs, controls, governance papers and regulatory submissions.
• Strong communication and stakeholder management skills, with the ability to explain results and influence across functions into clear recommendations and practical outcomes.

You’ll achieve more at HSBC. HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclus