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Head of Life Risk Management
Head of Life Risk ManagementAXA Group • PHILIPPINES, PHILIPPINES
Head of Life Risk Management

Head of Life Risk Management

AXA Group • PHILIPPINES, PHILIPPINES
30+ days ago
Job description

JOB TITLE :

Head of Life Risk Management

DIVISION :

Office of the President

DEPARTMENT : Risk Management

JOB GRADE : 13

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 process
  • Support in the development of risk scenarios that will be the basis of sensitivity testing in product, pricing, and reinsurance reviews
  • Perform reviews on pricing and reserving assumptions and distribution compensation schemes
  • Review and validate the local Risk Appetite limits for each line of business
  • Review and / or update of Risk management frameworks such as Product Approval Process, Assumptions Guidelines among others
  • Liaison 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 levels
  • Support the Actuarial team in the calculation of Economic Combined Ratios and ensure the appropriate implementation within pricing models
  • Work closely with Product Development, Actuarial, Underwriting, Reinsurance, Claims, Corporate Strategy, and Finance teams in promoting a consistent and informed risk culture
  • Assist in ensuring adherence to all risk management standards, frameworks, and policies
  • Management 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 Framework
  • Ensure that relevant risk owners have provided timely remediation actions plans for any breaches in Risk Appetite
  • Source 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 severity
  • Define and supervise the risk exposure data collection across all lines of business, providing insights to earnings, solvency, and liquidity
  • Analyze the product, pricing, profitability, underwriting, reinsurance, reserve, and solvency risks of all products and lines of business
  • Ensure the alignment of business actions with strategic and emerging risk mitigations
  • Provide support in the data quality signoffs on management reporting data for risk exposures
  • Regular follow up on recommendations or action plans identified during the second opinion processes and risk exposures monitoring
  • Source and consolidate risk information for Board and Management reports and support in drafting the relevant documentation and presentations summarizing main highlights and findings
  • Contribute to risk identification, measurement and reporting for management, and further develop capabilities to thoroughly build risk reporting in coordination with other teams
  • Business 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 frameworks
  • Contribute to shaping the maturity of the Risk Management Framework to meet the team’s target level of maturity
  • Proactively identify opportunities and challenge the status quo
  • Assist in planning activities as relevant
  • Strong collaboration with local teams, regional teams, Group and other AXA entities
  • Self-driven on assigned initiatives
  • KEY

    STAKEHOLDERS : Internal :

  • Technical : Actuarial, Underwriting, Claims, Products
  • Commercial : Marketing, Distribution, Partnerships
  • Governance Committees : Local Risk Committee, Local Assumptions Committee, Local Product Management Committee, Board Risk Committee
  • External :

  • AXA International Market Risk Management
  • Your 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 skills
  • Strong interpersonal and presentation skills with the ability to build mutually beneficial internal and external relationships and incorporate forward looking views to members of senior management
  • Ability 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 manner
  • About 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.

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    Head of Life Risk Management • PHILIPPINES, PHILIPPINES

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