VP, FRM Risk Models and Transformation

Great Eastern Life Assurance Co Ltd
Singapore, Singapore
11 Nov 2021
11 Dec 2021
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Job Purpose

You will be part of Group Risk Management division, as part of the Group Financial Risk Management team. You will play a key role in leading the development the Asset Liability Management (ALM) Risk Model of the Group which will be used to analyse and manage the financial risks of the assets and liabilities on the balance sheets of all entities within the Great Eastern group. You will also be responsible for driving the transformation of the FRM models and processes including introducing data science tools and improving process efficiency.

The Job

  • Build new capabilities to improve the Asset Lability Management of the Group, including the implementation of a stochastic ALM, quantitative derivative pricing, and other market, credit and liability models.
  • Drive data, systems and process improvements within the FRM team including introducing data science tools in order to enhance efficiency and capabilities of the overall FRM team.
  • Collaborate with Finance and Investment teams to calibrate the Economic Scenario Generators to be used within the Monte Carlo risk models.
  • Implement the stochastic ALM Model to support risk and balance sheet management use cases, including for SAA / TAA setting, risk budgeting and Economic Capital purposes.
  • Model and analyze solutions on efficient management of assets and derivatives usage relative to balance sheet liabilities, in collaboration with the other risk, investment and finance teams to ensure optimal ALM strategies are deployed;
  • Identifying emerging risk and control issues, performing second line reviews and developing recommendations to help improve the quality of financial and model risk management in the group;
  • Work closely with stakeholders and users from various business groups, external vendors and IT to continually implement automation and improvements into our current work flows;
  • Preparation of project-related papers and presentations to Asset Liability Committee and Risk Management Committee where required.
  • As part of the leadership team, work with key stakeholders to proactively shape the organisation's culture and conduct environment that is aligned to the organization's Core Values.
  • Champion culture and conduct behavioral expectations within the Department/ Division.
  • Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
  • Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
  • Highlights any potential concerns /risks and proactively shares best risk management practices.

Our Requirements
  • Degree in Finance, Economics, Accountancy, Actuarial or other quantitative fields;
  • At least 5 years of working experience involving development of ALM models;
  • Meticulous, responsible and analytical;
  • Excellent interpersonal and communication skills;
  • Knowledge of derivative products and financial risk models will be advantageous;
  • Knowledge of programming languages such as Prophet ALS, VBA, SQL and Python preferred;
  • Qualification or working towards attaining CFA, FRM or Actuarial qualification(s);
  • Demonstrates alignment with the organisation's core values through expected behaviours;
  • High level of integrity, takes accountability of work and good attitude over teamwork; and
  • Takes initiative to improve current state of things and adaptable to embrace new changes.
About Great Eastern
Established in 1908, Great Eastern places customers at the heart of everything we do. Our legacy extends beyond our products and services to our culture, which is defined by our core values and how we work. As champions of Integrity, Initiative and Involvement, our core values act as a compass, guiding and inspiring us to embrace the behaviours associated with each value, upholding our promise to our customers - to continue doing our best for them in a sustainable manner.

We work collaboratively with our stakeholders to look for candidates who exhibit or have the potential to embrace our core values and associated behaviours, as these are the key traits that we expect from our employees as they develop their careers with us.

We embrace inclusivity, giving all employees an equal opportunity to shine and play their role in exploring possibilities to deliver innovative insurance solutions.

Since 2018, Great Eastern has been a signatory to the United Nations (UN) Principles of Sustainable Insurance. Our sustainability approach around environmental, social, and governance (ESG) considerations play a key role in every business decision we make. We are committed to being a sustainability-driven company to achieve a low-carbon economy by managing the environmental footprint of our operations and incorporating ESG considerations in our investment portfolios; improving people's lives by actively helping customers live healthier, better and longer; and drive responsible business practices through material ESG risk management.

To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.

Please note that our career opportunities are only posted on our Career Website (http://grp.gelife.co/findacareer) and on our authorised job platforms which are specifically LinkedIn, JobStreet and eFinancialCareers. We do not initiate any unsolicited calls and all official emails from Great Eastern will be sent from email addresses ending with "@greateasternlife.com". Should you receive any communications outside from these channels listed, please do not provide any personal information and do reach out to us at GreatCareers@GreatEasternLife.com or at 6248 2990 for us to assist you and confirm the legitimacy of the content.

Similar jobs

Similar jobs