AVP, Group Investment (SAA/TAA)

About FWD Group FWD Group (<1828.HK>) is a pan-Asian life and health insurance business that serves more than 38 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828. For more information, please visit PURPOSE As the core asset strategist in the Group ALM function, this role will drive portfolio management and ALM strategies to maximize firm value, while managing financial risks in accordance with the Group’s risk appetite framework and other constraints KEY ACCOUNTAIBILITIES Establish and conduct regular reviews on Group-wide policies and procedures for ALM processes and SAA / TAA determination, and manage related governance processes Lead SAA and TAA reviews for business units (BUs) in accordance with the Group’s risk appetite framework, and coordinate with other Group and business unit functions Calibrate BU investment benchmarks and their consistency with approved SAA and TAA Advise senior management (Group and BUs) on ALM, SAA and risk management strategies Define and agree with (Group and BU) management teams on the hedging targets and ALM priorities on a regular basis; drive consistency and efficiency in ALM practices across BUs Review and recommend (Group and BU) ALM actions (e.g. hedging, duration management), optimizing across return, capital, liquidity, accounting and other constraints Assess implications of regulatory developments on ALM / SAA strategies, and recommend changes where appropriate Review and advise on TAA / SAA strategies for new products and/or emerging risks, and ensure the investments strategy is optimized for the product economics and changing macro economic environment Contribute to the business planning and investment planning processes, and ensure that key investment activities are within approved limits Collaborate closely with the Actuarial, Finance, Risk and Treasury teams to ensure that the implications of and the interactions between any ALM, business and/or management actions are considered Respond to regulatory requests on TAA / SAA-related matters as appropriate QUALIFICATIONS / EXPERIENCE 10+ years of experience in finance, investment, actuarial, or risk management functions of life insurance companies Professional qualification from internationally recognized professional body (e.g. FSA / FIA / CFA / FRM or equivalent) Degree in Actuarial, Finance, Economics, Mathematics or related discipline KNOWLEDGE & TECHNICAL SKILLS Experience working across multiple markets / regulatory regimes, and understanding of local BU dynamics in a regional or group capacity Deep understanding of ALM frameworks, including duration, key-rate duration, convexity, liquidity and hedging strategies Solid knowledge in insurance balance sheet and in the dynamics between different valuation bases and financial metrics (IFRS, EC, local solvency) Strong understanding of market risk dynamics and their interaction with insurance liabilities Familiar with capital market instruments, including derivatives and structured products Solid understanding of insurance products (par, non-par, unit-linked etc.) and their ALM implications across different liability profiles