Head of/AVP/SM Insurance Risk

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Our Client is A European Based Insurance Firm

Reporting directly to the CRO, the incumbent will be working in a brand new role and will be responsible for performing Life and Underwriting risk assessment for the life insurance portfolio underwritten by each legal entity.  As part of this role, the jobholder will be expected to:



  • Ensure an effective ERM Framework through establishing, implementing and maintaining the Life Insurance Risk management for identifying, assessing, monitoring and managing Life Insurance Risk and review related policies in line with Group Insurance Risk policy and standards as well as all other related regulatory and professional requirements.
  • Provide a 2nd (line) opinion on key underwriting decisions and validation of life insurance customer proposition, marketing, sales & distribution, conduct risk, actuarial methodology and assumption setting, experience studies, product pricing, underwriting, reinsurance, valuation, reserving and technical provisions and other key inherent insurance risks as well as providing information to CRO and/or Life Committee and related committees (Underwriting, Model Governance, Actuarial, ALCO, etc) to enable a decision to be made on whether or not to proceed, in accordance to Ageas governance structure. 
  • Manage the process for setting the Life Insurance risk appetite.
  • Design and develop all mechanisms and tools for performing risk assessment including business /functional risk appetite and stress and scenario testing for Life Insurance risk.
  • Ensure appropriate model governance on Life Insurance models is in place to ensure effective understanding of Life Insurance/ Underwriting risks
  • Set and agree firm-wide (Life) insurance risk priorities
  • Act as the Life Insurance risk adviser to the firm, and in particular to guide senior management in their Life Insurance and Investment risk management responsibilities,
  • Establish a process and awareness for embedding Life Insurance risk management. Bring an Life Insurance risk focused viewpoint to strategic planning and other activities of senior management
  • Bring an Life Insurance risk focused viewpoint to strategic planning and other activities of senior management
  • Facilitate the implementation of the Life Insurance risk processes, providing, coaching and guidance to business line management
  • Monitor and manage the firm’s overall exposure to Life Insurance risk including working with the business line and other functions to mitigate Life Insurance risk
  • Ensure a consistent approach to Life Insurance risk across the lines of business and functions
  • Co-ordinate appropriate and timely reporting of Life Insurance risk reports
  • Co-ordinate Life Insurance risk input to the risk committee and the board on the firm’s risk profile, control infrastructure and any control failings, weaknesses and actions taken
  • Co-ordinate input to the regulators on the relevant Life Insurance risk matters
  • Liaise with key control functions including IA, Compliance and Actuarial Functions



  • Fellow of the Institute of Actuaries (or its international equivalent) and/ or CERA qualified preferred.
  • Specialization in Life Insurance with experience with Solvency II and local RBC /regulatory requirements. 
  • Proven strong people and process management skills including stakeholder management skills and an ability to work successfully with senior managers across the business
  • Strong communication skills and a proven ability to work effectively with both technical and non-technical teams
  • Due to the nature of the role, the preferred candidate must have hands on experience designing and conducting risk appetite, risk assessment and controls, particularly related to insurance business.