Assistant Vice President - Investment - Life insurance

Assistant Vice President - Investment - Life insurance

The responsibilities of the candidate :

Investment Risk / Performance Monitoring :

- Responsible for Performance attribution of Investment Portfolios

- Computing various portfolio returns used to measure the risk associated with the portfolio and the return, such as Sharpe ratio, Stress testing.

- Reporting on movement of prices.

- Preparation of Fund Performance v/s the Benchmark and Peers

- Investment newsletter to Policyholders

- Monitoring of assets supporting Liabilities and ensuring that adequate assets are maintained to support the reserves

Middle office and related Activities :

- Ensure Timely and accurate delivery all reporting like IRDA quarterly disclosures, internal, Balance sheet disclosures etc.

- Active participation in Middle office related discussions like finalization of Balance Sheet (Process changes, Accounting and Valuation Policies), policies reviews, discussion on draft and new guidelines

- Ensure all Middle office projects shall conclude within agreed timelines

- Building strong relationship with other departments within the organization

Compliance and review of Investment Policy, SOP and other Policies :

- Monitoring of Regulatory Compliance of Investment pattern and exposure

- Monitoring of Limits set by Investment Committee

- Actively participate in new policy formation

- Review and update of the existing policies as per latest regulations

- Review and update of Standard Operating Procedure (SOP) as per industry best practices and regulatory changes

Timely reporting of all Regulatory, Share Holders & Internal :

- Ensure Timely and accurate delivery of the IRDA Investment returns, Balance sheet disclosures and other stake holders reporting

- Ensure timely Internal reporting Including ULIP disclosures, Public disclosures and Financial

- Support in selection of peers based on internal criteria.

- Ensure correctness of the reporting of fund performance against the benchmark & peers to Board, IC and other forums

BCP / DR Plan and Support to BRCM :

- To ensure periodic testing at alternative site / DR site

- Support to functional Business Risk & Control Manager (BRCM) in identifying, mitigating and monitoring all key risks within the function

- Support in Risk and Control assessment

Audits & Inspections :

- Support in IRDA inspection

- Risk Management Systems Audit

- External and compliance reviews

- Ensure timely provision of data to all Auditors and smooth closure of Audit of Investment MO/BO Function

Major Challenges :

- New complexities in financial markets by the launch of new financial products e.g. Derivatives, Credit Swaps, Inflation Linked Bonds, AIF, Invits, Reits etc.

- Continuous update of change in IRDA regulation and IND-AS.

- Credit and Market Risk Analysis and Risk Ratios in a dynamic market environment

- New product launches under different platforms with complexities involved

- Time Management

- Consistency and accuracy in work

- Ability to read between the lines and interpret

- Current Changes in RBI / SEBI policies, market review update

Role Context :

- Investment Performance and Risk monitoring, Regulatory reporting's etc.

- The role requires in depth knowledge of financial markets, financial products, regulatory framework, balance sheet and Risk Management, IND-AS standards.

- The position requires advanced knowledge of M-Fund

- Good knowledge of Excel including the Analytical tools and power point presentations

- The position requires having excellent inter-personal skills as it requires active interaction with all dept.

- Good Accounting knowledge: Equities, Bonds, Repos, MBS/ABS (Mortgage backed securities), Loans & deposits, CP/COD

- Preparation of Financial Statements as per IND AS / IFRS - IND AS 109

- System Enhancement and Development through Third Party Vendors

- SPOC for all audits (Internal Audit, Statutory Audit, IRDA Audit, System audit, Concurrent Audit)

TOTAL : 100%

REQUIRED QUALIFICATION AND SKILLS :

Qualification : CA

- Work experience in years: 5 years +

Skills / experience required :

- Good knowledge of Financial markets, Financial Products & Risk Management.

- Strong knowledge of Mfund , SAP.

- Good knowledge of Excel including the Analytical tools and power point presentations.

- Excellent inter-personal skills for active interaction with front office, Actuary & other internal dept. & other industry players.