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Senior Manager, Actuarial Audit

AIA Group Office
Hong Kong, Hong Kong
Closing date
Nov 1, 2023

View more

Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time

We don't simply believe in being 'The Best'. We believe in better - because there's no limit to how far 'better' can take us.

We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives.

If you believe in better, we'd love to hear from you.

About the Role

This position provides the opportunity for an individual to have fast track their progression to key business management within an insurance company, through their independent assessment of the company's control environment to the Board of Directors.
The individual should be an actuary (or one with relevant experience) with hands-on experience in independently assessing a company's exposure to actuarial and financial risk with regards to valuations, pricing, derivatives, asset allocations, reporting and solvency requirements. The individual will help provide management and the Board with an objective, independent assessment of the internal control systems through the planning and execution of audit assignments of actuarial, financial risk and related business processes across AIA Group. The individual will also add value to management by providing appropriate business-oriented recommendations. He/she will be responsible for the delivery of the overall audit plan, reporting to committees and management, and supervising and developing the team.

Roles and Responsibilities:
  • Plan, lead and execute internal audits within the Asia Pacific region and evaluate the adequacy of controls according to established schedule and quality
  • Identify key risks at the local level for each entity with a primary focus on actuarial and financial risk considering the relevant strategies and business environment
  • Conduct continuous business reviews with chief and appointed actuaries, and head of financial risk within Group and various Local Business Units
  • Develop the annual audit plan considering the key risks identified
  • Acquire and then maintain a thorough ongoing knowledge of actuarial financial risk areas such as par funds, interest rate hedging programme and strategic asset allocation to identify where deficiencies may occur in processes, systems and internal controls
  • Coordinate and monitor audits being performed by regulators, external auditors (for special projects, if any), other entities' auditors and other groups providing assurance. Partner with internal audit colleagues in integrated audits where appropriate
  • Peer review audit reports and support discussion of issues and remedial action plans with the appropriate levels of management
  • Facilitate issuance of audit reports to management
  • Follow-up outstanding audit issues and monitor timely completion of agreed remedial actions by management
  • Direct the development of the team through coaching, training and providing timely feedback to junior members of staff. Motivate and inspire the team by providing them with the information and tools they need to perform their duties
  • Ensure achievement of departmental goals
  • Liaise with the control community and other members of the company to contribute to the implementation of an effective and efficient system of internal control
  • Develop rapport with business unit management n regular communication of changes in business operations, emerging risks and potential issues, etc
  • Provide professional advice and insights to management to enable informed management decisions
  • Involve in the implementation of new processes and systems of the company to provide an independent view to management of the quality and effectiveness of the projects
  • Take the initiative in improving self through classroom and on-the-job trainings
  • Perform other responsibilities and duties assigned by the Head of Audits, Regional Directors and Head of Group Internal Audit in order to meet operational and/or other requirements
Minimum Job Requirements:
  • Minimum eight years of actuarial, banking, life insurance or other relevant experience
  • Prior audit experience is an asset
  • A relevant professional qualification such as Fellow of the Society of Actuaries (FSA), Chartered Financial Analyst (CFA), Chartered Enterprise Risk Actuary (CERA) or equivalent, or equivalent experience in the industry
  • Knowledge in investment in Asia insurance companies
  • Strong understanding of insurance and legislative/regulatory requirements
  • Knowledge with audit tools and other software such as PowerBI (data analytic tools), Prophet MS Office (Actuarial Software), intermediate knowledge on IT is beneficial
  • Good command of both oral and written English
  • Strong leadership, project management and organisational skills
  • Ability to work under pressure and meet milestones within time, cost and quality constraints
  • Excellent analytical, written/verbal communication, presentation, interpersonal, and relationship building skills
  • Solid problem solving skills, ability to analyse complex data, identify core issues, investigate, evaluate and reach appropriate conclusions
  • Ability to adapt to changes quickly and multi-task
  • Willing to travel across the AIA regions in Asia Pacific
Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

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