Financial Risk Manager

The Financial Risk Management role is essential to ensuring the financial security and long-term sustainability of our life insurance business. Reporting to the Chief Risk Officer (CRO), this role focuses on proactively identifying, assessing, and mitigating financial risks that could impact the organization. The role will take a leadership role in developing Asset Liability Management (ALM) strategies and contributing to the Own Risk and Solvency Assessment (ORSA) process, while fostering a risk-aware culture within the company.

We are seeking a strategic thinker with strong technical and analytical expertise who will drive key risk management initiatives to safeguard the company's financial position.

Key Responsibilities:

• Financial Risk Framework: Design, implement, and maintain a comprehensive financial risk management framework that aligns with industry best practices and regulatory guidelines. Contribute to ORSA processes to ensure robust risk and capital management.
• Risk Assessments & Stress Testing: Work closely with departments such as Actuarial, Finance, and Investments to conduct risk assessments and stress tests that provide a comprehensive view of the organization's financial risks.
• Quantitative Risk Analysis: Lead efforts to evaluate and manage key life insurance risks, including mortality, lapse, and expense risks, using advanced risk modeling and data analysis techniques to quantify and monitor exposures.
• Asset Liability Management (ALM): Develop and execute sound ALM strategies that address risks related to interest rate changes, liquidity needs, and asset-liability matching to maintain financial stability.
• Risk Mitigation: Continuously review and assess the effectiveness of existing financial risk controls and recommend enhancements to strengthen risk mitigation measures.
• Regulatory Compliance: Stay informed on emerging regulatory changes, particularly around solvency and capital management, and assess their potential impact on the business. Ensure compliance with all relevant laws and regulations.
• Reporting & Communication: Prepare and present regular reports on financial risk exposures, trends, and performance to senior management and the board of directors, offering strategic insights for decision-making.
• Stakeholder Collaboration: Cultivate strong working relationships with regulatory authorities, auditors, and other external stakeholders to ensure compliance and promote best practices in risk management.

Qualifications:

• Bachelor's degree in Finance, Actuarial Science, Economics, or a related field; advanced degrees or professional certifications (FRM, CFA, FASP/AASP) preferred.
• A minimum of 8-10 years of experience in financial risk management, preferably within the life insurance sector.
• Proven track record of leveraging data analysis and risk modeling to assess and manage financial risk.
• Deep knowledge of financial risk management practices, including asset liability management (ALM), capital adequacy, and Solvency II.
• Strong familiarity with ORSA processes and regulatory requirements in the Philippine life insurance industry.
• Excellent leadership, communication, and interpersonal skills, with the ability to influence and collaborate with senior management and stakeholders.

Knowledge & Expertise:

• Expertise in financial risk management, including credit, market, liquidity, and operational risks.
• Strong understanding of life insurance products, capital requirements, and regulatory frameworks.
• Proficiency in risk modeling tools, scenario analysis, stress testing, and sensitivity analysis.
• In-depth knowledge of the Philippine insurance regulatory landscape, including guidelines from the Insurance Commission (IC).
• Awareness of macroeconomic trends and technological developments, including AI and data analytics, that impact risk management strategies.
• Familiarity with corporate governance principles and best practices for risk oversight and internal controls.