The Insurance Authority (IA) is an insurance regulator established under the Insurance Ordinance (Cap. 41). The principal function of IA is to regulate and supervise the insurance industry for the promotion of the general stability of the insurance industry and for the protection of existing and potential...

The Insurance Authority (IA) is an insurance regulator established under the Insurance Ordinance (Cap. 41). The principal function of IA is to regulate and supervise the insurance industry for the promotion of the general stability of the insurance industry and for the protection of existing and potential policy holders. IA took over the supervision of insurance intermediaries from the three Self-Regulatory Organizations in September 2019 and has become the sole regulator for granting licences and setting conduct requirements concerning insurance intermediaries in Hong Kong.

 

IA now invites applications for the following position:

Manager (Long Term Business – Major Groups)

Job level Middle
Work exp Minimum 5 Years
Education Bachelor Degree
Location
Wong Chuk Hang
Benefits 5-day week, Dental plan, Medical plan, MPF
Industry Government / Civil Services / Public Sector / Public Utilities
Job function Banking / Finance > Risk Management
Government / Social Services > Community Services / Non-profit Organisations
Insurance > Others
Published On 21/12/2019
ref. M/LTB-MG/12/19

Reporting to the Head (Long Term Business – Major Groups), the incumbent will undertake the following:

 

Key Responsibilities

  • Develop, perform and manage analysis for the oversight of macroprudential and systemic risk surveillance
  • Participate in prudential reviews and supervision of major insurance groups’ Group Internal Economic Capital Assessments and broader financial assessments, such as an Own Risk and Solvency Assessment, recovery and resolution plans and liquidity risk management
  • Participate in formulating supervisory policies, requirements and methodology for major groups and/or authorized insurers
  • Represent IA in international working groups such as those of the International Association of Insurance Supervisors as required
  • Co-ordinate with industry and professional bodies on matters relating to the regulation and development of the life insurance industry
  • Liaise with fellow insurance regulators and other financial regulators on prudential supervision of life insurers and in performing group-wide supervision of major insurance groups
  • Perform other duties as assigned by senior management to facilitate the administration of the statutory functions of IA

 

Requirements

  • A bachelor’s degree or professional qualification in accounting, actuarial science, finance, insurance or related disciplines
  • Minimum 5 years' relevant work experience in accountancy, audit, life insurance, actuarial or regulatory fields
  • Knowledge of regulatory requirements and international supervisory standards, insurance products, insurance companies operations and market dynamics relating to the insurance business. Work experience in a local or overseas insurance regulatory agency is preferable
  • Strong analytical, interpersonal and communication skills
  • Strong command of written and spoken English. Chinese language ability is an advantage

 

Remuneration Package

A competitive remuneration package commensurate with the successful candidate’s experience and qualifications will be offered.

 

Application

Review of the applications will start as soon as possible and continue until 9 January 2020, oruntil the post is filled. Interested applicants may send a letter of application quoting the reference number, together with a full resume stating current and expected salaries by clicking  

 

The Insurance Authority is an equal opportunities employer. Applicants not invited for an interview within 2 months from the closing date may assume their applications unsuccessful. Applications may be considered for other suitable positions within IA. All applications will be handled in strict confidence and the information collected will only be used for recruitment purposes. All information on non-shortlisted applicants will be destroyed after 6 months from the close of applications.