VP, Asset Liability Management (ALM) from a Direct Life Insurer (Singapore)
Principal Responsibilities
The Asset-Liability Management (ALM) Specialist will be part of the Asset-Liability Management team, primarily responsible for two broad areas: supporting the asset-liability management function and serving as the secretariat for the Asset-Liability Committee (ALCO) meetings. This role involves managing ALM strategies to achieve optimal risk-adjusted returns while ensuring capital and solvency efficiency and organizing ALCO meetings as coordinating with various teams for ALCO related topics.
ALM Role:
- Drive and formulate ALM strategy to achieve efficient allocation and utilization of resources
- Develop and maintain ALM models to support optimal risk-adjusted returns for the portfolios
- Provide support to the development of new insurance products by integrating ALM insights and strategies
- Collaborate with investment teams, Group Insurance ALM teams, and the company's other Life entities on strategic initiatives
- Act as a subject matter expert on ALM-related issues within the Singapore business, providing guidance and raising awareness of the importance of ALM
- Work closely with various teams to incorporate ALM best practices into business processes
- Proactively identify opportunities for improving ALM and capital efficiency
- Report ALM activities to local and group stakeholders, providing clear and detailed updates on ALM performance and strategy
- Conduct stress testing and identify emerging risks to manage the entity's capital and liquidity position effectively
- Provide financial risk management oversight, including recommending financial and insurance risk appetites and limits, and evaluating the asset and liability impact of strategies and business plans
- Enhance economic profit by improving net profits and promoting efficiency in the use of capital and funding
ALM Secretariat Role:
- Ensure that all ALCO issues are captured, monitored, and controlled by senior management through effective meeting organization and documentation
- Organize ALCO meetings, ensuring all necessary materials and papers are submitted on time
- Prepare and maintain accurate minutes of ALCO meetings, ensuring follow-through on action items and decisions
- Liaise with various teams including Finance, Actuarial, Risk, Investment, and ALM to ensure comprehensive preparation for ALCO meetings
- Maintain strong relationships with key stakeholders, ensuring alignment and communication on ALCO-related topics
- Foster a collaborative environment, ensuring effective teamwork across functions and timely submission of ALCO papers and materials
- Coordinate with multiple teams to ensure timely submission and thorough preparation of ALCO papers and materials
- Ensure compliance with investment policies, risk limits, and regulatory requirements related to ALCO activities
- Provide clear and detailed updates on ALCO-related topics to local and group stakeholders
Qualifications:
- University graduate above with experiences in insurance industry
- Knowledge and experience:
- 8 to 12 years of professional experience in insurance or consultancy firms
- Prior experience in actuarial, investment, or ALM roles
- Familiarity with actuarial modelling, RBC2, and IFRS17
- Proficiency in asset and liability modelling
Competencies:
- Strong verbal and written communication skills
- Ability to collaborate with internal and external stakeholders
- Excellent analytical and technical skills
- Strong team player with the ability to work independently
- Detail-oriented with strong organizational and planning skills
- Results-oriented, delivering high-quality results consistently and in a timely manner
- Strong ability to organize and manage meetings, ensuring effective coordination and documentation