Vice President, In-Force Management

1 month ago

Kuala Lumpur, Kuala Lumpur, Malaysia Great Eastern Malaysia Full time
Discover the GREAT in your career.

As a LIFE company, our customers are at the heart of all that we do. Being one of Asia's leading insurer for over a century, we have built a long-lasting legacy of trust with our customers over many generations. At the foundation of this trust is Integrity, Initiative, and Involvement - from the way we treat every customer relationship with honesty and transparency, to our proactive approach of delivering the best possible solutions in both life and general insurance.

Integrity, Initiative, and Involvement is what guides us. It is what makes us do the right thing, take the lead, and choose 'we' over 'me'. Our mission is to make life great for our customers because we understand what matters most to them, and we know how to help them protect it.

If you are looking to grow in an exciting career filled with opportunities and potential, we are seeking a professional to join our team as Vice President, In-Force Management.

Job Purpose

This role focuses on overall management of GELM, GETB and GEGM's balance sheet and asset-liability positions. The incumbent will support the Head of Division to play the role of Manager 2 ("M2") under the 3-Manager Framework and will have profit & loss responsibility for the Tactical Asset Allocation ("TAA") given to M2. In addition, he or she will formulate in-force management strategies and in turn, establish and lead task force to implement the initiatives to achieve the desired results on time, within allocated resources and according to agreed quality requirements. The key focus will be on the profitability of the medical portfolios.

The Job
  • Responsible to highlight the profit & loss of M2's TAA mandates. This includes the preparation of periodical reporting for ALM monitoring, Fund Transfer Pricing (FTP) and Liquidity monitoring.
  • Oversee the Asset-Liability Management ("ALM") process and conduct hedging activities, where applicable to manage structural balance sheet mismatch. This includes the maintenance and annual review of the Strategic Asset Allocation (SAA) technical model formulating the Asset Liability Optimisation by taking into account of liquidity, earnings volatility, reinsurance, capital, free surplus management, etc.
  • Upon Management action trigger ("MAT"), propose hedging strategy, where applicable, to protect solvency position per hedging policies.
  • Oversee and mitigate balance sheet risks associated with interest rate, foreign exchange, liquidity, return variability, basis mismatch, etc.
  • Liaise with M1 and M3 on deployment of balance sheet strategies. Custodian of the Internal Capital Adequacy Assessment Process ("ICAAP") framework and reporting as well as being responsible for formulating the regulatory capital management optimisation.
  • Take accountability in considering business and regulatory compliance risks and take 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
  • Possess a bachelor's degree in Accounting, Finance, Actuarial Science or Economics
  • At least 10 years of working experience in In-force Management or Treasury related role and equipped with analytical skillsets
  • Has sound knowledge of financial and investment management strategies
  • Has analytical, with strong negotiation and organisational skills
  • Well-spoken with good problem-solving skills. Has strategic business partnership experience
  • High level of integrity, takes accountability of work and good attitude over teamwork.
  • Takes initiative to improve current state of things and adaptable to embrace new changes.
Great Eastern Malaysia is committed to Equal Employment Opportunity, and all qualified applicants shall receive a fair and equal consideration for employment.

Location: HQ, Kuala Lumpur

Entity: Great Eastern Life Malaysia

Employment Type: Permanent

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.

Great Eastern Malaysia is committed to Equal Employment Opportunity, and all qualified applicants shall receive a fair and equal consideration for employment.

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.

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