Senior Director, Asia Product Risk Management

Senior Directors/Director, Asia Product Risk Management

The position assists the Head of Asia Product Risk Management in overseeing product risk management activities for Asia Segment. In particular the candidate will be responsible for the review of new product initiatives of a few designated business units – assessing the initiatives in the context of the Segment's risk appetite statements and business strategies. The role plays a key part in the delivery of new business plan, product approvals and in depth reviews of the business units. Product range will include all insurance related products such as protection, savings, investment linked, universal life, participating / with-profits..etc.

The level of involvement from the Asia Product Risk Management varies by business unit. For mature operations that have the resources and capability to carry out risk management activities independently, the incumbent provides the necessary check and balance to the business unit product development team. For operations with less scale, the incumbent will provide mentorship and support to assist them in achieving a similar level of independence over time.

Position Responsibilities: 

For the designated business units:

• Provide independent review on products, ensure that practices in Asia Segment meet our policies and standards and are consistent with established risk appetite and limits. 

• Be a regional expert in the local business product portfolios and plans.

• Manage the product & insurance risk review and approval process to ensure it is appropriate and responsive i.e. it is in accordance with the Global framework, leverages CROs of business units where possible, and meets Asia Segment and global product review service standards.

• Ensure that all elements of product design and pricing meet our Corporate Pricing Standards consistent with Manulife risk taking philosophy and limits.

• Work with businesses to understand and shape their strategy and the impact of sales on the Segment's ongoing key performance indicators and risk profile, and effectively communicate implications to Segment and Group management.

• Participate in the annual NB planning process and in particular independently review the new business plan submissions from business units to provide insights from broader risk perspective.

For Asia Product and Insurance Risk Management:

• Assist the Head of Asia Product Risk Management in the execution of his/her duties as they pertain to product and insurance risks.

• Work collaboratively with Group Product & Insurance Risk Management and local business units to improve existing product review framework and processes.

Required Qualifications:  

• Fellow of an internationally recognized actuarial organization

• At least 10 years of experience in life insurance industry preferably product and/or pricing experience

• Good understanding of technical aspects of insurance product design

• Strong analytical and decision making skills

• Cultural sensitivity and ability to work collaboratively in various cultures

• Ability to work independently on multiple projects and lead broad change initiatives

• Excellent verbal and written communication skills

• Able to build long distance relationships

• Experience of Asian markets is an advantage

When you join our team:

• We’ll empower you to learn and grow the career you want.

• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.

• As part of our global team, we’ll support you in shaping the future you want to see.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [email protected].