, Posted on June 12, 2018
The candidate will be responsible for the Company’s Risk Management process including but not limited to planning, designing & implementing companywide risk management including, risks relating to insurance-Life & Non Life, Financial, Operational ,Legal, Regulatory and Reputation & Information Technology, as detailed below.
You will also be responsible for the Actuarial work in relation to risk management, capital modeling, solvency and Insurance activities both Life & Non Life within the company.
1. planning, designing and implementing an overall risk management process for the organization;
2. risk assessment, involving analyzing, identifying, describing and quantifying the risks affecting the business;
3. risk evaluation, involving comparing quantified risks with criteria established by the organization, by BOD/ CEO/ Risk Committee such as costs, legal requirements and environmental factors, to prepare ‘risk registers’ for all Lines of Business.
4. establishing and quantifying the organization’s 'risk appetite' by business lines,
5. risk reporting in an appropriate way for different audiences, to the board of directors for the most significant risks, to business heads to ensure they are aware of risks relevant to their parts of the business and to individuals to understand their accountability for individual risks;
6. corporate governance involving external risk reporting to stakeholders, Insurance authority and any other such as Rating Agencies;
7. carrying out processes such as implementing health and safety measures and making business continuity plans to limit risks and prepare for if things go wrong;
8. Providing support, education and training to staff to build risk awareness within the organization.
9. To liaise with Internal & External auditors on risk reporting.
10. To know, understand and communicate all evolving risks that would affect the business
11. To be a part and drive Strategic initiatives with the associated risk and advise BOD/CEO/Risk Committee on those initiatives.
12. To design and implement a workable Business Continuity plans.
1. Actuarial product pricing to keep a balance between growth and profitability for all Lines of Business including New products both for Life & Non Life.
2. Actuarial advice on Reserves, FCR, Regulations, Capital Modeling, Solvency.
3. To use Actuarial skills and knowledge in relation to Risk Management as described above.
4. To coordinate with External Actuary with regard to Data, process and reports submitted by them.
Industry Type :
Functional Area :
Insurance / Underwriting / Surveying / Actuary
Desired Candidate Profile
1. Expert knowledge of Actuarial & Risk concepts.
2. Pricing, rating
4. Actuarial & Risk Modeling
5. Risk management concepts, procedures
1. Long term strategic thinking
2. Ability to see Mini & Macro picture
3. Sound commercial judgment
4. Drive for success
5. Execution ability
6. Assertiveness, communication and negotiation
7. Handle uncertainty and high level of stress
8. Lead people from diverse background and ability
Reinsurers, IT Vendors, Fund Managers, Distributors, Banks, Actuarial and Management Consultants, Business Partners and Competitors, External Audit, Insurance Regulator, Rating Agencies and Internal audit.
Finance, IT, HR, Internal Audit, Administration, Branches- Life & Non Life, CEO & GM’s Office and all Line Managers & Heads of Departments.
• Master’s in Business/Science/Technology
• Associate or Fellow of Professional Actuarial Society recognized by IAA with a suitable certification in ERM
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