Senior Risk Actuary, Insurance

Job description

GCB 4 We are currently seeking a high calibre professional to join our team as a Senior Risk Actuary, Insurance.

In this role you will:

• Insurance product approvals
• Review and challenge the product approval submission from local entities.
• Par and Universal Life Management – management of the shareholder risks associated with the Participating and Universal Life business; ensuring returns meet policyholders’ reasonable expectations, and policyholders are treated fairly.
• Insurance partner onboarding / renewals
• Review & approve business case (including review of contractual/ remuneration terms, reputational risk, credit risk, third party due diligence, etc.)
• Third Party Product approval
• Liaise with Insurance Third Party product team on pipeline assessments, review & approve third party products before launch (new product, variations, channel extensions) in accordance to defined oversight frameworks.
• Value Added Services – provide oversight on VAS approval framework operational effectiveness and input into VAS management framework enhancements.
• Review partnership management information and key country oversight committee (CSC) packs and escalate any material issues. Oversee products risk appetite metric, ensuring drivers for non-green metrics are addressed by markets in a timely manner.
• Provide input on partnership mandatory procedures / operating instructions and regularly review of partnership continuous monitoring activities (CMA) performed by First Line of Defence (FLOD).
• Provide subject matter expertise / advisory inputs on ESG and climate related matters to Insurance FLOD and other risk stewards/ local CROs (who oversee ins activities) upon request (e.g. ORSA – climate risk section, business case for any ESG initiatives).
• Take the lead to be the Insurance risk contact including independently review & challenge of the annual climate risk materiality assessment, and any relevant publications from the lead regulator (PRA).

To be successful you will need

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• Fellow of the Institute or Faculty of Actuaries, the Society of Actuaries or equivalent body.
• 10+ years of experience in Actuarial, preferably with significant experience in product and/or pricing.
• Understanding of Participating, Non-participating and Universal Life business products, regulation and management across markets.
• Experience in insurance distribution or ESG domain is preferred.
• Demonstrated ability to partner with business stakeholders and collectively grow the business while minimising risk.
• In-depth knowledge and understanding of the insurance industry and regulatory environment including current and emerging risks.
• Self-starter, independent with good communication and leadership skills.
• Team player and high achiever with a positive attitude. Opening up a world of opportunity www.hsbc.com/careers HSBC is committed to building a culture where all employees are valued, respected and opinions count.

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