Head of Life Risk Management

REPORTING TO: Direct: Chief Risk OfficerIndirect: Chief Executive Officer, Chief Risk Officer – International Markets NUMBER OF DIRECT REPORTS: 4 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 products, reinsurance, reserving, strategic planning, pricing, portfolio management process, and 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 Qualifications 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 to adapt to new situations with other actuaries, underwriters, and risk managers in a cooperative and open manner #J-18808-Ljbffr