Head, Financial Risk Management

3 weeks ago

Manila, National Capital Region, Philippines Sun Life Financial Inc. Full time
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 purpose

Reports to PH Chief Risk Officer, this role is accountable for ensuring that the financial risk management function in PH business unit and operations is in compliance with the Enterprise Risk Management framework and all associated policies and operating guidelines.

This role provides critical analysis and constructive challenge to business units and other functions in financial risk area to drive a balanced risk model and appropriate risk-adjusted decision making consistent with the Board approved business strategy and risk appetite, assisting senior management in fulfilling their responsibilities with respect to the management of current and emerging risk.

Major accountabilities

Strategic and Advisory
  • Review and assess business strategy and key business initiatives, when applicable, focusing on financial and investment risks, in alignment with the enterprise's Risk Management policy frameworks and all associated risk policies and operating guidelines.
  • Assist Chief Risk Officer, PH to provide advice and insight into the assessment of business opportunities related to financial and investment risks, including new product initiatives or re-pricing, mergers and acquisitions, use of reinsurance, and other business management and risk mitigation strategies.
  • Reports to PH Risk Management Committee, monitors the financial risks of PH business and emerging risk issues; conducts deep dive into significant financial and invesment risks, advises management on areas of risk management focus and priorities.
  • Identifies key financial and invesment risks and works with the business to ensure risks are appropriately monitored, mitigation strategies are developed and implemented in a timely manner.
  • Provides insights on current financial results and risks, with a goal toward understanding and improving the performance and risk/return profile of the business, including the context of IFRS 17.
30%

Functional Leadership
  • Keep Chief Risk Officer, PH, relevant functions, and Regional and Corporate Risk teams well-informed on financial risks related matters and issues, seeking input where required.
  • Monitor, assess and report on emerging trends in evolving financial risk management practices and regulatory requirements, with the support of SL Corporate for company-wide changes.
  • Support financial risk teams in the business in their roles and provide the leadership and guidance when applicable.
  • Act as a source of expertise and guidance and provides value-added insight to the businesses with respect to the financial risk management area.
20%

Risk Policy and Compliance with Policies
  • Establishing and rolling out local financial risk management operating guidelines (including Risk Appetite policy) within the parameters set out in Enterprise Risk Management Policies and working with management to implement processes to ensure compliance with the operating guidelines.
  • Assist Chief Risk Officer, PH to ensure compliance with the financial risk management policies and attests annually on policy compliance to PH and Asia senior management and the Corporate Chief Risk Officer.
  • Ensure compliance or documents non-compliance with the Financial Risk Management policies.
30%

Governance, Oversight and Risk Management
  • Acts in line with the PH CRO mandate providing independent oversight and challenge over BU functions, who as the first Line of Defence (LOD), owns the financial risks that are intrinsic to the business and have the responsibility to identify and manage these financial risks.
  • Promote risk culture throughout Sun Life that is consistent with its values and approved risk appetite.
  • Ensure that governance processes and controls are in place, and processes are appropriately designed in financial risk area to meet the requirements of Board approved risk policies and operating guidelines, in coordination with other second line functions to ensure coverage of all legal entities where applicable.
  • Work with BU functional leaders to provide oversight of financial risk management frameworks and all associated risk policies and operating guidelines, including management, monitoring and reporting of financial risk metrics.
20%

Specialized knowledge
  • Effective problem solving and analytical skills (able to identify root cause / logical thinking).
  • Ability to take large and complex issues or topics and summarize them to appropriately communicate them to various senior audiences (in BUs, RO and Corporate).
  • Good leadership skills
  • Pro-active and possess good business acumen.
  • Independent and able to make recommendations/decision.
  • Deep understanding of financial and investment risks and has background in financial services industry
  • At least an Associate of the Actuarial Society of the Philippines
  • Professional accreditation related to financial risk management (such as FRM, CFA) is desirable.
Problem solving
  • Ability to distil complex concepts into actionable advice for business units in different jurisdiction.
  • Demonstrate ability to develop and execute innovative pragmatic solutions to complex problems.
  • Successful experience interpreting policy requirements that lead to development of pragmatic solutions for compliance with the enterprise FRM framework.
  • Ability to demonstrate solid and effective project management and successful experiences leading/managing change.
  • Demonstrate ability to resolve conflict in positive way, apply lessons learned to new engagements and manage constantly changing environment.
Education and experience

Education
  • University degree with at least 10 years working experience
  • Positive attitude, a natural willingness to support the team and ability to develop and cultivate strong business relationships and conflict resolution.
  • Open minded attitude, to be able to overview on the big picture and key focuses.
  • Excellent command of both spoken and written English, local language skills a plus.
Experience
  • Proven track record in risk management, preferably in insurance industry,
Job Category:
Risk Management

Posting End Date:
30/12/2024

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