Job Title : Senior Manager, Model Risk and Validation
Principal Responsibilities (Model Risk Role):
Reporting
- Contribute to the development and maintenance of the Group-wide Model Risk and Use of Data Analysis (UDA) Policy.
- Support the review and validation of models and applications, which are utilized for various purposes, including valuation and new business pricing.
- Assist in the preparation of monthly and quarterly model risk management information (MI) and reports for submission to local risk committees, as well as the company's Board and Risk Committee.
- Contribute to ongoing initiatives aimed at enhancing data analytics capabilities related to model risk.
Country Management
- Serve as the primary point of contact and expert for model risk requirements within the assigned country's Chief Risk Officer (CRO).
- Represent the country management team within the Group's KL team, ensuring alignment and consistency.
- Ensure model risk requirements are effectively communicated to model owners and provide necessary training to foster a model risk-aware culture within the country's business activities.
- Lead the agenda for process improvements in model risk management within the assigned country.
- Escalate instances of non-compliance or gaps in control processes.
- Represent the company in local technical committees regarding model risk oversight.
Assurance
- Assist in reviewing the quality assurance of model risk processes and controls within the assigned country. While not initially an integral part of the role, there may be future opportunities to participate in broader model assurance and validation activities, particularly for actuarial cash flow models and asset manager's risk and strategy models.
- Contribute to the exploration of challenges and opportunities brought about by emerging technologies, including artificial intelligence, in model risk management.
Skills, Knowledge, and Experience Required:
- Qualified actuary with relevant experience in life insurance or risk management, including a strong understanding of current and evolving insurance regulations applicable to the Group.
- Prior experience in model development or validation is preferred.
- Experience working in the South Asian market is desirable.
- Strong understanding of local regulatory and accounting regimes in Asia is advantageous.
- Familiarity with the components of an insurance balance sheet, the financial and non-financial risks insurers face, and the modeling techniques used to assess these risks.
- Proficiency in economic valuation techniques and capital calculations.
- Knowledge of key life insurance product features and associated risks, with an international perspective on product and market characteristics being a plus.
- Experience in stakeholder management is preferred.
- Strong analytical skills, with the ability to apply statistical and problem-solving techniques.
Core Competencies Required:
- Excellent documentation and verbal communication skills, with the ability to effectively communicate with both technical and non-technical audiences.
- Strong stakeholder engagement and communication skills.
- Highly motivated and capable of working independently when required.
- Ability to challenge and provide insights while maintaining a commercially oriented and pragmatic approach.
- Collaborative team player, adaptable to a dynamic environment.
- Confident in communicating with stakeholders at both the Group and Business Unit levels.
- Willingness to travel regionally and globally as needed.
