Senior Manager, ALM Product Development

You are as unique as your background, experience and point of view. Here, you’ll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families and communities around the world.

Job Description:

Job description:

• Support the First Line of Defense function adopting the Three Lines of Defense (TLD) framework.
  • Manage all Market Risks including interest rates, equity, credit spread, currency, liquidity, derivative risk, etc.
  • Hedging strategies and hedge cost valuation
  • Market risk tolerance limit (MRTL) sensitivity testing
  • (Market Risk) EaR reporting
• Formulate and analyze ALM strategies in Product Development to drive business growth and support diverse ALM initiatives with collaboration with multiple stakeholders, including Hong Kong, Regional Office and Corporate.
• Analyze and prepare regular and ad-hoc reports and projects related to ALM risks in Product Development (including interest rate, equity, credit spread, currency, and liquidity risks) ensuring adherence to operating guidelines.

• Actively manage to the local guidelines to ensure Compliance with Corporate Financial Risk Management Policies and ALM items in Product Development.
• Provide advice on value driven initiatives to drive/ enhance Financial results in Product Development.
• Deliver on the execution/ application of the “Best Practice” ALM practice in Hong Kong to fully leverage the Global ALM Practice.

• Develop and maintain ALM asset and liability models used for financial projection, analysis and IFRS17 reporting in product pricing and business developments.
• Streamline existing reporting processes by developing tools and recommending new methodologies to improve the efficiency of product development process.
• Support local Asset Liability Committee, ALM working group meetings and Crediting Rate Committee with SLHK Leaders & Regional Office.
• Lead and steer ad-hoc ALM related projects for both Product Development and inforce management.
• Develop or review investment/ALM related assumptions for pricing, valuations and business plan.

Preferred skills:

• Strong understanding of liability and life products
• Actuarial and financial risk management knowledge
• Solid Knowledge in financial reporting/product pricing, including IFRS17, CGAAP and HK RBC reporting
• Knowledge of ALM strategy development / modelling / portfolio construction is an asset
• Knowledge of investment (including derivatives) preferably within an insurance company
• Proficient in Microsoft Excel, preferably with VBA
• Experience in AXIS modelling is a plus.
• Ability to manage multiple priorities and to deliver according to deadlines
• Ability to coach and guide analyst and deliver the tasks efficiently
• Ability to manage multiple priorities and to deliver according to deadlines
• Ability to develop / enhance reporting tools in Microsoft Excel
• Ability to coach and guide analyst and deliver the tasks efficiently

Qualifications:

• Degree holder in Actuarial Science, Mathematics / Statistics, Engineering or Finance
• Qualified actuary
• 6+ years of Actuarial experience; preferably with 2+ years in ALM / Investment / Financial Risk within a life insurance organization

Responsibilities:

• Reporting to the AVP, ALM Strategy and Market Risk Management.
• This role would also require the candidate to work closely and help to manage relationships with actuaries, business development experts, finance, ALM and investment professionals in supporting ALM related assignment.

Job Category:

Actuarial

Posting End Date:

29/10/2024