AVP – Enterprise Risk Management

A leading life insurance company is seeking a strategic AVP – Enterprise Risk Management (Financial Risk) to join its corporate office in Mumbai. In this high-impact role, you will report directly to the Chief Risk Officer and lead the financial risk appetite framework. Furthermore, you will be responsible for analyzing market, credit, and liquidity risks within the investment portfolio. Consequently, this position is vital for ensuring robust solvency and liquidity management in line with board-approved policies.

The AVP – Enterprise Risk Management must conduct rigorous stress testing and scenario analysis for investment and derivative portfolios. Additionally, you will collaborate with Actuarial and Finance teams to review Asset Liability Management (ALM) strategies. Therefore, the company is looking for a professional with over 7 years of experience in the financial services industry. If you have an MBA in Finance or are a Chartered Accountant with FRM certification, this AVP – Enterprise Risk Management role offers a premier leadership opportunity.

Key Responsibilities for the AVP – Enterprise Risk Management

• Analyze and monitor solvency and liquidity ratios to ensure adherence to Board-approved risk policies.
• Assess and report on Solvency Capital Requirements (SCR) based on both Indian and European standards.
• Manage the financial risk agenda for Risk Committee meetings and senior management presentations.
• Conduct annual and ad hoc risk assessments for strategic business plans and investment initiatives.
• Oversee the development and maintenance of policies and frameworks for Financial Risk Management.
• Collaborate with stakeholders to review ALM strategies and evaluate financial derivatives for risk mitigation.
• Analyze first and second-order risk metrics including duration, convexity, VaR, and PVO1.
• Provide technical support to senior management regarding emerging financial risks and regulatory changes.
• Perform comprehensive stress testing for derivative portfolios as per IRDAI and internal guidelines.
• Work closely with Products and Investment teams to understand insurance products and actuarial assumptions.

Requirements and Qualifications

• MBA in Finance, Chartered Accountant, or Actuarial background (Associate Actuary or SP5 & SP6).
• Mandatory FRM or PRMIA Certification to demonstrate technical expertise in risk management.
• Minimum of 7+ years of professional experience in the financial services industry, specifically in Banks or Insurance.
• Strong understanding of trading and the valuation of debt, equity, and derivative products.
• Proven experience in market risk functions or as an actuary within the life insurance sector.
• In-depth knowledge of Asset Liability Management (ALM) and financial derivatives risk assessment.

Personal Characteristics and Competencies

• Proactive attitude with the ability to take initiative in a fast-paced corporate environment.
• Strong collaborator capable of working effectively with multi-disciplinary stakeholder teams.
• High level of diligence and a strong sense of urgency regarding risk reporting and mitigation.
• Excellent analytical skills with the ability to apply complex knowledge to real-world business scenarios.
• Strong communication skills for presenting technical risk data to non-technical senior leadership.

If you are a risk professional ready to drive the AVP – Enterprise Risk Management function for a premier insurer, we encourage you to apply today!