JOB TITLE :
Head of Life Risk Management
DIVISION :
Office of the President
DEPARTMENT : Risk Management
JOB GRADE : LOCATION :
AXA Philippines Head Office
REPORTING TO
ROLE) :
Direct : Chief Risk Officer
Indirect : Chief Executive Officer, Chief Risk Officer – International Markets
NUMBER OF DIRECT
REPORTS : MAIN PURPOSE
OF THE JOB :
- Ensure life, savings and health insurance risks are identified, measured, monitored and mitigated on a timely basis – through the 2nd Opinion Process and risk studies
- Ensure compliance with AXA Group Standards Handbook on providing Risk Management 2nd opinion on (1) Products; (2) Reinsurance; (3) Reserving; (4) Strategic Planning; (5) Pricing; (6) Portfolio Management Process; (7) Underwriting;
- Ensure that the Risk Appetite framework is set-up, approved and implemented
KEY ACCOUNTABILITIES :
Quantitative and Analytical Support on Risk Modeling, Actuarial Reviews, and Governance
Coordinate and provide support for independent second opinion reviews on strategic plan, product development, pricing, reinsurance, reserving, and portfolio management processSupport in the development of risk scenarios that will be the basis of sensitivity testing in product, pricing, and reinsurance reviewsPerform reviews on pricing and reserving assumptions and distribution compensation schemesReview and validate the local Risk Appetite limits for each line of businessReview and / or update of Risk management frameworks such as Product Approval Process, Assumptions Guidelines among othersLiaison with AXA International Markets Risk Management for in-depth reviews, product submissions, exemption requests etc.Support the Underwriting team in evaluating the risk impact of proposed actions to ensure consistency with stated risk appetite and tolerance levelsSupport the Actuarial team in the calculation of Economic Combined Ratios and ensure the appropriate implementation within pricing modelsWork closely with Product Development, Actuarial, Underwriting, Reinsurance, Claims, Corporate Strategy, and Finance teams in promoting a consistent and informed risk cultureAssist in ensuring adherence to all risk management standards, frameworks, and policiesManagement Reporting on Risk Exposures and Mitigations
Source updated exposures and liaise with Underwriting and Actuarial teams to ensure and confirm ongoing compliance with Risk Appetite FrameworkEnsure that relevant risk owners have provided timely remediation actions plans for any breaches in Risk AppetiteSource and assist in the development of appropriate risk monitoring tools and key risk indicators leveraging on internal and external data; possess the intuition to propose applicable risk mitigation to remedy identified issues of varying severityDefine and supervise the risk exposure data collection across all lines of business, providing insights to earnings, solvency, and liquidityAnalyze the product, pricing, profitability, underwriting, reinsurance, reserve, and solvency risks of all products and lines of businessEnsure the alignment of business actions with strategic and emerging risk mitigationsProvide support in the data quality signoffs on management reporting data for risk exposuresRegular follow up on recommendations or action plans identified during the second opinion processes and risk exposures monitoringSource and consolidate risk information for Board and Management reports and support in drafting the relevant documentation and presentations summarizing main highlights and findingsContribute to risk identification, measurement and reporting for management, and further develop capabilities to thoroughly build risk reporting in coordination with other teamsBusiness Leadership
Lead and manage the team, ensuring accomplishment of deliverables, setting of clear goals and priorities, and guiding members of the team especially in actuarial and technical skills.Influence the business in the effective management of the P&L to drive top line and bottom line growth and to deliver the expected BU performance metrics while ensuring compliance with AXA Philippines’ risk appetite and other risk management frameworksContribute to shaping the maturity of the Risk Management Framework to meet the team’s target level of maturityProactively identify opportunities and challenge the status quoAssist in planning activities as relevantStrong collaboration with local teams, regional teams, Group and other AXA entitiesSelf-driven on assigned initiativesSTAKEHOLDERS : Internal :
Technical : Actuarial, Underwriting, Claims, ProductsCommercial : Marketing, Distribution, PartnershipsGovernance Committees : Local Risk Committee, Local Assumptions Committee, Local Product Management Committee, Board Risk CommitteeExternal :
AXA International Market Risk ManagementYour Profile
EXPERIENCE AND QUALIFICATIONS :
At least an Associate to any recognized Actuarial Professional body (ASP, SOA, etc.); Fellow designation is preferred.At least ten (10) years work experience in an actuarial or risk management department in a life insurance company;Highly numerate and analytical with very good problem-solving and project management skillsStrong interpersonal and presentation skills with the ability to build mutually beneficial internal and external relationships and incorporate forward looking views to members of senior managementAbility and desire to work effectively in a team-oriented environment while ensuring autonomy, flexibility and capacity of adapt to new situations with other actuaries, underwriters, and risk managers in a cooperative and open mannerAbout AXA
A global leader in insurance and investments, AXA takes care of 103 million lives in 64 countries worldwide. We actively invest in pioneering and personalized solutions to meet your ever-changing needs and exceed your expectations. In the Philippines, we are in partnership with Metrobank, one of the country's strongest banks.
About the Entity
Established in 1999, AXA Philippines is one of the largest and fastest growing life insurance companies in the country. It offers financial security to more than one million individuals through its group and individual life insurance as well as general insurance products through its subsidiary Charter Ping An.
AXA Philippines is one of the first to introduce bancassurance operations in the country, and is among the pioneers in the investment-linked insurance sector.
AXA now offers a complete range of products for all its customers’ insurance and financial protection needs, including savings and investments, health plans, income protection, and health coverage; and through its general insurance subsidiary Charter Ping An Insurance Corporation : fire, motor car, marine cargo, personal accident, bonds, casualty, and engineering insurance products.
AXA Philippines closed 2017 with billion in total premium income and billion in gross written premiums from Charter Ping An. Today, AXA has more than 4,000 financial advisers in 36 branches, and 700 financial executives in over 900 Metrobank and PSBank branches nationwide. Charter Ping An, on the other hand, has 22 branches nationwide and 2,007 agents.
AXA Philippines is a joint venture between the AXA Group, headquartered in France, and the Metrobank Group, one of the largest financial conglomerates in the Philippines.
The Metrobank Group is a conglomerate of industry-leading businesses that includes First Metro Investment Corporation, Metrobank Credit Cards, Federal Land, Toyota, and Manila Doctors Hospital. It was hailed Best Bank in the Philippines in 2010, 2011, and 2012 by Euromoney and recognized as the strongest bank in the Philippines by The Asian Banker in 2013. It is owned by the Ty Family whose major business interests include financial services, real estate development, power, and manufacturing.
What We Offer
