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– To provide an effective financial risk management strategy for meeting business objectives, and carry out independent evaluation/assessment/quantification of financial risks to facilitate risk-based decision making in key committees such as Risk management/ALCO, and Investment.
Key Responsibilities :
Responsibilities :
– To develop financial risk management framework/strategy as per company’s business objectives and risk appetite.
– To develop/improve/update financial risk appetite/policies/ tolerances as per changing business/market dynamics.
– To work collaboratively with senior management team and credibly challenge strategies/policies based on independent risk assessments/inputs to facilitate risk- based decision making.
– To conduct research/statistical analysis to assess the frequency and severity of risk events through stress testing, sensitivity analysis etc.
– To develop, calibrate, and run high-quality risk models for quantification and assessment of risk.
– To proactively identify material changes in risk profile and emerging risks.
– To perform financial risk reviews for Market and Credit risk.
– To ensure ALM risk management – liquidity risk and interest rate risk.
– To ensure execution of hedging strategies and monitoring its effectiveness on continuous basis- To use sound understanding of derivative instruments for creation of hedging strategies.
– To monitor/analyse key financial matrices and assess the potential impact of changes in them on the financial strength of the company.
– To develop and document the risk methodology and policies/procedures.
– To ensure continuous improvement in risk management framework and monitoring tools.
Specific Authorities (Financial & Non Financial) :
– Authorized to access investment/actuary/finance/corporate planning files and use data for risk monitoring, analysis and reporting.
HR/ JD/ Ver1.0/1 st Feb 2020
Internal
Key Performance
Indicators
– Proactive identification of material changes/trends in risk profile and timely reporting for remedial actions.
– Flagging of evolving/emerging risks through periodic analysis and timely market updates.
– Ensure 100% compliance with all regulatory/compliance guidelines.
– Benchmarking of our processes with best practices and sharpening focus on key risk areas through knowledge sharing.
– New initiatives & process improvements/model creation/upgradation.
Job Requirements :
Qualifications :
– Actuarial candidates (with minimum 10 papers and specialization in investments) are preferred.
OR
– CFA/FRM or other investment/risk certification required. Experience 6-8 years of experience in the life Insurance industry preferred, especially practical working knowledge of ALM and working in investment/risk department.
Functional Competencies :
– MS Suite
– Analytical skills
– Business knowledge : Understanding of financial markets and products including derivative instruments and their use for creation of hedging strategies. Understanding of insurance product cashflows and financial reporting would be helpful.
– Risk Management: Understanding of financial risk measurement and management including derivative instruments and their use for creation of hedging strategies
Behavioral Competencies :
– Business acumen
– Growth through differentiation
– Collaboration
– Building Talent and Teams
Key Interactions :
Internal Nature or purpose of interaction :
– Investment Front Office
– Asset Cash flows and ALM/other assets
– Investment Back Office
– Regulatory limits/compliance
– Actuary Team
– Liability cash flows and products, EV related details
– Finance/Planning Team
– Financial statements, operating plan, revenue/expense forecasts
– External Nature or purpose of interaction
– Group Risk Team
– Emerging risks/exceptions, ERM/risk guidelines
