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    Enterprise Risk Management, Consultant - Kuala Lumpur, Malaysia - AIA Group Ltd

    AIA Group Ltd
    AIA Group Ltd Kuala Lumpur, Malaysia

    1 hour ago

    Default job background
    Full time
    Description
    FIND YOUR 'BETTER' AT AIA

    We don't simply believe in being 'The Best'. We believe in better - because there's no limit to how far 'better' can take us.

    We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives.

    If you believe in better, we'd love to hear from you.

    About the Role

    This role is to support Enterprise Risk Management Department which works as a second line of defense in partnership with the business (as the 1st line of defense) to coordinate the risk management process throughout AIA General Berhad and ensure all element of risks are properly identified, assessed, mitigated and reported in line with the BNM Guidelines as well as AIA policies requirements. Also, will be supporting the Head of ERM in establishing and maintaining the program to ensure the company's interests are adequately protected and within the Risk Management policies and the risk appetite approved by the Board of AIA General Berhad besides to works closely with the members of the Risk Committees i.e. mainly Management Committee as well as Head of Departments by supervising and reporting all matters relating to ERM (Operational Risk, Insurance Risk, Financial Risk, etc).
    The individual is also responsible for identifying, evaluating and reporting on enterprise risks in a manner that meets regulatory, group, management and other related requirements. The individual works proactively with the various business divisions and other internal departments and organizations to implement practices that meet the regulatory, Group's and Company's defined guidelines, risk policies, standards and/ or procedures.

    Roles and Responsibilities:

    1. Risk Management Framework, Policies and Procedures and system
    • Support Head of ERM in coordinating in the implementation of risk management process throughout AIA General Berhad as the need arises according to the approved risk methodologies.
    • Support rolling down the enterprise level Risk Management Framework/ Policy and related risk policies from group as well as establishing relevant risk policies and procedures to meet local regulatory requirements. This includes review on a periodic basis to ensure continued relevance and appropriateness, as well as updating as vital the relevant risk policies, incorporating feedback of Board and Management - this includes establishment of risk appetite, risk limits and review of the existing key risk indicators (KRI) and thresholds.
    • Works closely with all business functions to ensure all elements of enterprise level risks are properly identified, assessed, mitigated, monitored and reported, as by implementing the Risk and Control Assessment (RCA) program of the company. Entails assisting respective risk owner to identify key risks (Operational, Insurance, Financial, etc) in their respective area of operations. Thereafter to ensure that appropriate controls are in place and risks are handled within the approved risk appetite framework.
    • Ensuring all incidents (including interpretation and roll down of relevant requirements) are collected and reported on a timely, accurate and complete basis to BNM, Group and/ or management, as well as to work with respective functions on root cause analysis with a view to prevent/ reduce recurrence and/ or impact of any similar incidents.
    • Ensuring all KRI required for reporting to BNM are accurate and timely. Supporting respective risk owners, to establish key risk metrics for supervising as well as assessment of trends for any potential areas of concern. Such assessments should be tabled to the appropriate forums/ persons so that timely actions could be taken, noted and/ or key risks mitigated to the appropriate level.
    2. Reporting and deliverables for Boards, Risk Committees, Regulators, Group and Management
    • Provide support to Head of ERM to prepare or complete all relevant materials or papers on timely basis highlighting key risks, mitigating controls and action owner for Management Committee, Group reporting, respective local Management and Board level Risk Management Committees.
    • Supervise and ensure the execution of relevant action plans which includes materials prior and post meeting, logistics, minutes and matters arising as advised by the respective local Risk Management Committees within agreed timeline and acceptable standard of quality.
    • Supervise relevant documents/data are updated into the folders. Housekeeping to be carried out timely basis.
    • Conduct Regulatory as well as internal (local and Group) review and reporting. Among others, BNM Reporting, outsourcing risk management programme, Product risk assessment, Case, New projects, ICAAP, Stress Testing, ITCL assessment, review of Capital Management Plan, Credit Risk, Liquidity Risk, Scenario Analysis, etc.
    3. Embedding risk management
    • Creating a positive risk based culture, where a robust risk assessment process is embedded that business divisions implement proactively and on an integrated basis and embedding Integrated Risk Management, facilitating and enabling risk owners to discharge their duties;
    • Coordinate risk management education and awareness such as to educate all employees on risk management process and principles on a continuous and regular basis, where applicable
    • Conduct survey on ERM awareness, delivery, effectiveness and impact with a view to continue to support the ongoing growth of the organization in a sustainable and resilient manner and continuous review to identify new risks and ensure appropriate remedial risk mitigation actions are developed on timely basis.
    4. Others
    • Perform other responsibilities and duties periodically assigned by supervisor in order to meet operational and/or other requirements.
    Minimum Job Requirements:

    Education : Tertiary qualification in related field including Risk Management, Accounting, Actuarial Science, Finance, IT or Business.

    Work Experience : 8-10 years relevant work experience in the financial industry handling risk management, actuarial, internal audit, compliance and/ or internal controls.

    General Requirements :
    • In-depth understanding of the General Insurance business preferred
    • Good written and spoken communication skills in English and local language.
    • Other skills - Good interpersonal and communication skills and self-motivated. Independent and be able to work under pressure, organized, possess leadership, coaching and influencing skills; eye for business; problem solving skill, High level of integrity and take ownership and accountability of results
    Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

    You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.


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