Generali Malaysia Hiring! Full Time Chief Risk Officer in Federal Territory - Ricebowl

Position Summary

• Build and maintain an Enterprise Risk Management and Governance Framework to identify, monitor, manage, and report risks proactively.
• Provide a forward-looking perspective on risk to local management and the Regional CRO.
• Analyze complex, multi-source data, recognizing limitations and modelling constraints, to identify critical facts for strategic decision-making.
• Support profitable and sustainable business growth through risk-informed recommendations.
• Deliver an integrated view of key risks across all business activities.
• Translate risk data into actionable insights for senior management, including the CEO and Regional CRO.

Main Responsibilities:

Enterprise Risk Management

• Responsible for all local and Group regulatory risk topics, including reporting, implementing new regulations, and advising management on implications and value-add opportunities arising from regulatory changes.
• Adopt Group Risk Management frameworks, with emphasis on Risk Guidelines, to provide an integrated view of financial, investment, technology, operational & insurance risks and recommend mitigation strategies.
• Conduct ongoing risk self-assessments and maintain the country’s risk profile.
• Supports the Board of Directors in evaluating the adequacy and effectiveness of the internal control and risk management system, providing appropriate information and assessments, as well as recommendations for suitable mitigation of current or forward‑looking risks.
• Coordinate & conduct risk management process & dialogue by liaising with risk owners i.e. senior management to ensure the main risks are identified and assessed & reported based on Main Risk Self-Assessment (MRSA) which is part of the Own Risk & Solvency Assessment (ORSA) Guideline

Operational Risk Management

• Coordinate & conduct regular operational risk management process by liaising with risk owners (i.e. senior management) to ensure effective risk management.

ICT Risk Management

• Coordinate & conduct technology risk management process across the organisation by implementing BNM Risk Management in Technology & GIMB Technology Risk Management Framework & localised Group Information, Communication & Technology (ICT) Risk Management Framework and ensuring robust controls.
• Coordinate & conduct risk analysis by liaising with risk owners i.e. senior management to determine Information, Communication & Technology (ICT) risk.

Sustainability

• Ensure that proposed sustainability & climate-related risk governance enhancements are embedded within control systems.
• Coordinate & conduct Sustainability risk identification within the MRSA process and provide the GCRO function by means of the BU CRO functions with the related results for Group aggregation purposes as set out in the ORSA Reporting Group Guidelines

Stakeholder Management

• Lead Board and Executive-level Risk Management Committees by preparing high-quality presentation materials, steering discussions, and ensuring timely follow-up on agreed actions.

Managerial Responsibilities

• Lead, develop, and retain a high-performing team to achieve productivity and quality standards
• Promote a performance-driven culture and provide guidance to enable team excellence.

Committee Responsibilities

• Chairman of Local Risk Management Committee: -
• Review risk management matters and challenges faced by the Company
• Ensure the ongoing effectiveness of risk management activities in alignment with the Board's Risk Appetite and endorse and recommend related matters to the Board Risk Management Committee and other appropriate sub-committees.
• Ensures consistency and continued alignment amongst the control functions and management on transversal topics
• Oversees deliberation and formalization risk-based decisions within the mandates assigned to Management
• Member of Business Continuity Management & Occupational Safety & Health Committee
• Permanent Invitee to Claims Committee
• Member of Data Governance Committee
• Permanent Invitee to Executive Committee
• Permanent Invitee to IT Steering Committee
• Member of Local Management Audit and Compliance Committee
• Permanent Invitee to Company Investment Committee
• Member of Outsourcing & Technology Risk Governance Committee
• Permanent Invitee to Product & Pricing Committee
• Member of Reserving Committee
• Permanent Invitee to Underwriting Committee
• The Chief Risk Officer is also responsible for full participation in any other Committees or Projects to which they are a member or contributor from time-to-time.
• Member of Sustainability Committee

Regulatory Responsibilities

• Responsible for all obligations, duties, and responsibilities that are imposed by regulators and legislation from time-to-time

Financial & Investment Risk Management

• Coordinate & conduct financial & investment risk management including strategic asset allocation, credit risks, liquidity risks, and financial operational risks across the business

Strategic, Sustainability & Non-Quantitative Risk Management

• Coordinate & conduct regular strategic, sustainability & non-quantitative risk management processes amongst others such as risk assessment & risk review on strategic plan, main risks, sustainability risks, climate risks, emerging risks & non-quantifiable risk by liaising with risk owners i.e. senior management to ensure effective risk management.

Operational, Third Party, Outsourcing, Model, Customer & Fraud Risk Management

• Coordinate & conduct regular operational risk management processes amongst others such as risk assessment & risk review on third party, outsourcing, model, customer & fraud risks by liaising with risk owners i.e. senior management to ensure effective risk management.

The Chief Risk Officer will also be responsible for any other duties and obligations that may be allocated to them by the Board of Directors (GIMB) or any other competent authority within the Generali Group from time-to-time.

Additional reporting to Chief Executive Officer

Qualifications & Experience Requirements:

Education

• Bachelor's or an equivalent insurance-related professional qualification required; bachelor's in Actuarial Sciences, Risk Management, Finance, or another related field preferred.
• Insurance-related Professional Qualification desirable.
• FIDE, CERA (Chartered Enterprise Risk Analyst) and/or other relevant professional Risk qualifications desirable (or, in lieu of an undergraduate degree, required).
• Insurance-related Professional Qualification, e.g. AII, FMII, ACII/FCII, etc. desirable

Experience

• Minimum 10 years in the Insurance, Financial Services, or related Industries with specific experience in Risk, Finance, and/or Actuarial functions.
• Experience in Enterprise Risk Management and Operational Risk Identification & Management
• Multinational experience essential.
• Requires senior management and EXCO presentation experience. Requires strong insurance industry domain governance and compliance knowledge.

Skills

• Strong knowledge of insurance products and practices with an understanding of the drivers of the balance sheet and P&L.
• Understanding of local RBC and economic capital/Solvency 2 models.
• Ability to operate autonomously and lead a team in an evolving, often ambiguous environment.
• Excellent analytical skills and experience in analysing large amounts of data to draw conclusions on what is important to the organisation.
• Excellent communication skills and ability to present complex issues in a quick and simple manner, often to non-technical senior management and CEOs.
• Demonstrated ability to act with discretion in handling & managing highly sensitive confidential matters, applying sound judgment and robust ethical standards
• Strong understanding of insurance products and markets, in particular Asia/Malaysia insurance market. Requires familiarity with all relevant regulatory frameworks and compliance and legal awareness; in particular regulations and laws specifically related to risk management in the Insurance/Financial Services industries.