AVP - FRM - Mumbai (Goregaon E - HO)
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Description
<p class="MsoNormal"><span lang="en-in" xml:lang="en-in"><span style="font-weight:bolder;">Role: </span>FRM Manager<br /><b>Job Title: </b>Chief Manager / Assistant Vice President<br /><b>Education: </b>Post Graduate<br /><b>Experience</b>: 6 years +<br /><b>Work Location:</b> Goregaon (East), Mumbai</span></p><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Role Purpose</span></span></p><p></p><p class="MsoNormal"><span lang="en-in" xml:lang="en-in">To lead and strengthen the Financial Risk Management framework of the Company by overseeing Asset Liability Management (ALM), Capital and Solvency Management, Liquidity Risk, Investment Risk, and Insurance Risk. The role will be responsible for assessing financial resilience through stress testing, reviewing actuarial assumptions and models, evaluating product profitability and sustainability, and supporting strategic decision-making through robust risk analytics and governance.</span></p><p></p><p class="MsoNormal"><span lang="en-in" xml:lang="en-in">Closely with the Actuarial, Finance, Investments & Product team to ensure effective management of financial and insurance risks in line with Regulatory requirements and industry best practices.</span></p><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Key Responsibilities:</span></span></p><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Financial Risk Management</span></span></p><p></p><ul type="disc" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Monitor and assess key financial risks including:</span><p></p><ul type="circle" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Asset Liability Management (ALM)</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Interest Rate Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Liquidity Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Capital Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Investment Portfolio Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Market Risk</span><p></p></li></ul></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Analyse asset-liability mismatches and recommend mitigation strategies.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Review investment portfolio risk exposures and support risk-based investment decision-making.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Develop and monitor relevant Financial Risk Indicators and tolerance limits.</span></li></ul><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Insurance Risk Oversight</span></span></p><p></p><ul type="disc" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Assess and monitor insurance-related risks including:</span><p></p><ul type="circle" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Mortality Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Longevity Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Morbidity Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Expense Risk</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Lapse/Persistency Risk</span><p></p></li></ul></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Review emerging experience trends and evaluate implications on business profitability and solvency.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Support risk assessment of new business initiatives and product developments.</span></li></ul><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Product Profitability & Sustainability Assessment</span></span></p><p></p><ul type="disc" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Evaluate product design from a risk and profitability perspective.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Review pricing methodologies and assumptions used in product development.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Assess product profitability, value creation, sustainability, and risk-return trade-offs.</span></li></ul><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Capital Management & Stress Testing</span></span></p><p></p><ul type="disc" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Review capital adequacy, solvency position, and capital utilization.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Support Own Risk and Solvency Assessment (ORSA) activities.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Assess impact of economic and insurance risk scenarios on profitability, capital, and solvency</span></li></ul><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Educational Qualification</span></span></p><p></p><ul type="disc" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Actuarial Student with significant progress in actuarial examinations <span style="font-weight:bolder;">or</span></span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">FRM (Financial Risk Manager) certified / FRM course completed.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Additional qualifications such as CA, CFA, MBA (Finance) will be an added advantage.</span></li></ul><p class="MsoNormal"><span style="font-weight:bolder;"><span lang="en-in" xml:lang="en-in">Experience</span></span></p><p></p><p class="MsoNormal"></p><ul type="disc" style="margin-top:0in;"><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">6 years + experience.</span><p></p></li><li class="MsoNormal"><span lang="en-in" xml:lang="en-in">Relevant experience in Financial Risk Management, Actuarial, Enterprise Risk Management, or Capital Management within the Life Insurance industry.</span></li></ul>