Assistant Vice President - Insurance Risk

About the Role

Main Purpose of Job Scope: Supporting Head of Insurance Risk, Head of Risk Management and Chief Risk Officer on Insurance Risk related topics.

Responsibilities

• Product Review (Product Approval Process - PAP): Provide risk review and commentary on new and repriced products and proposed sensitivities to ensure robust launches; maintain and apply Local PAP Policy and AXA/IMa PAP guidelines; engage proactively with product and pricing teams and IMa Risk; review product approval reports for Local Product Management Committee (LPMC); collaborate with Chief Product Officer, Pricing Actuary and Product Development; provide 2nd-eye review on pricing assumptions and changes in OIC regulations; review policy contracts, sales/illustrations and training materials for consistency with product design and contracts.
• Risk 2nd Opinion: Provide 2nd opinion on customer satisfaction KPI submissions and mitigation plans; review Annual Product Plan and Strategic Plan from an insurance/distribution risk perspective; provide 2nd opinion on Annual Assumption Review and recommend improvements to experience studies; review distribution remuneration studies and underwriting limits/rules, liaise with underwriting and claims, and ensure alignment with AXA Group underwriting policies and local committee approvals for deviations.
• Risk Monitoring and Analysis: Monitor product profitability and sales versus plan; track health loss ratio and combined ratio by product; monitor in-force persistency and denied claims ratios; perform in-force profitability studies and monitor action plans to address GUO's In-Depth Review (IDR) findings related to products, health and assumptions.
• Governance & Reporting: Prepare and present Insurance Risk reports for the Local Management Risk Committee (LMRC) and Board Risk Management Committee (BRMC); liaise with Finance, Health and Actuarial for related reports and slides; attend governance committees as the risk representative (LPMC, Local Underwriting Committee, In-Force Steering Committee, Health Steering Committee).
• Compliance: Ensure compliance with AXA Group Risk Management (GRM) policies related to the Insurance Risk area.

Qualifications

• University degree in Actuarial, Mathematics, Statistics, Finance, Engineering or relevant field.
• At least 5 years of actuarial experience in life insurance companies.
• Experience in Product Pricing, Product Approvals and Actuarial Experience Studies.
• Actively sitting and passing SOA/IoA or other international actuarial exams; minimum 2–3 exams passed (e.g., P, FM, MLC). Advantage if ASA level or close to FSA/FIA.
• Excellent written and presentation skills in English.
• Computer skills: MS Excel (including VBA), MS PowerPoint, MS Word, MS Outlook. Advantage if have Prophet and SQL.

Additional Information

• Attend TLAA Risk Committee as representative and stay updated on Reserve, Solvency, IFRS17 & IFRS9, and ERM/ORSA guidelines.
• Key internal stakeholders include Actuarial, Product, Pricing, Compliance & Market Conduct, In-Force, Health, Claims, Underwriting and other risk teams (Financial Risk, Operational Risk, Internal Control).