AXA Hong Kong, a member of the AXA Group, prides itself of serving over 1 million customers in Hong Kong and Macau. Besides being one of the largest health protection providers in Hong Kong, it is also the number 1 General Insurance provider1 and a market leader in motor insurance. AXA Hong Kong is committed...
AXA Hong Kong, a member of the AXA Group, prides itself of serving over 1 million customers in Hong Kong and Macau. Besides being one of the largest health protection providers in Hong Kong, it is also the number 1 General Insurance provider1 and a market leader in motor insurance.

AXA Hong Kong is committed to helping its customers achieve stability and prosperity through providing a comprehensive range of life, health, property and casualty protection, as well as wealth management and retirement solutions.
We believe it is our inherent responsibility to support the communities we operate in, hence creating a sustainable business via constant and considerable contribution in the dimensions of health, environment and the community.

AXA is an equal opportunity employer. We are committed to promote Diversity and Inclusion (D&I) by creating a work environment where all employees are treated with dignity, respect, and where individual differences are valued. We welcome and treasure diverse profiles to join our big family, and to build an inclusive culture together which allows everyone to maximize their personal potential.


1Based on 2013 Office of the Commissioner of Insurance market share statistics

Head of Financial Risk Management

Job level Middle
Work exp Minimum 10 Years
Education Bachelor Degree
Location
Within Hong Kong
Employment type Full Time
Industry Insurance / Pension Funding (MPF)
Job function Insurance > Actuarial
Insurance > Others
Published On 23/08/2019
ref. 19000ATN_67776

1. Ensure AXA Group's Financial Risk Management Standards, policies and frameworks, are established and followed accordingly with appropriate adaption to AXA Hong Kong's operating condition, if needed

2. Manage Audit Risk Compliance Committee (ARCC) and Board Risk Committee on financial risk related matters, both technically and logistically

3. Run an effective 2nd line of defense on financial risk management by providing technical 2nd opinion on areas such as:
· Investment & ALM strategies, Strategic Assets Allocation
· New asset class assessment
· Economic assumptions in different basis, Solvency II Best Estimated Liability, IFRS & Local Statutory reserving etc.
· Derivatives hedging strategies
· Liquidity stress and contingency plan are in place and tested annually

4. Ensure that comprehensive risk profiles are prepared, maintained and reported in the financial aspects of AXA Hong Kong's business through close collaboration with front line business partners such as CIO, Head of ALM, Finance Business Partners, Product Pricing and Actuarial team. When needed, support the annual risk assessment process for specific functional departments such as Finance, Investment etc.

5. Advise CRO in specific financial risk mitigation strategies:
· Take the proactive role in challenging Investment, Actuarial and other relevant parties in all financial risk matters and mitigation strategies, e.g. the use of various types of derivatives
· Oversee all investment mandate and derivatives programs being developed for risk mitigation or other purposes

6. Oversee the Risk Appetite Framework development, financial risk limits setting, monitoring and collaboration with various departments in formulating mitigation plan when breach of limit occurs

7. Oversee all aspects of Solvency II matters relating to financial risks and to ensure proper compliance such as:
· Managing the Data Quality Framework in relation to all asset data
· Supporting the preparation of the Own Risk and Solvency Assessment (ORSA) Reporting
· Enforcing the Solvency II Internal Model Validation Policy by challenging the validation activities on financial risk components
· Ensuring the "Use Test" requirements are followed such as ALM decisions are made with proper assessment on the impact to the full range of Risk Appetite metrics
· Ensuring the Solvency II documentation framework are fulfilled according to Group guideline

8. Supervise the emerging risks framework on financial and economic risk is implemented according to established requirements

9. Drive a sound risk culture, promoting open discussion within the business, debate and challenge across functional units, independent peer review as a norm with regard to key reports and decisions, and pro-active management of risks and issues. Work closely and collectively with functional units to support management in ensuring their risks are identified, assessed, reported and managed

Requirements:

-Over 12 years of experience in investment and financial risk management in financial services industry, preferably in insurance

-Strong knowledge and hands on experience in quantitative finance such as the application of derivatives for hedging purposes, ALM, VaR

-Confident in challenging the 1st lines in all aspects relating to financial risk matters

-Professional designation: preferably a Qualified Actuary

-Strong people communication and presentation skills in English and Chinese