The Insurance Authority (IA) is an insurance regulator established under the Insurance Ordinance (Cap. 41). The principal function of IA is to regulate and supervise the insurance industry for the promotion of the general stability of the insurance industry and for the protection of existing and potential policy holders. IA took over the supervision of insurance intermediaries from the three Self-Regulatory Organizations in September 2019 and has become the sole regulator for granting licenses and setting conduct requirements for the insurance intermediaries in Hong Kong.
Reporting to the Senior Manager, Technical Expert, the incumbent will assume the following:
- Participate in developing the supervisory assessment methodology, with actuarial focus on capital adequacy, risk modelling, ERM and ORSA etc
- Conduct technical review on ORSA reports submitted from insurers
- Perform actuarial analysis on group capital aggregation methodology, recovery and resolution plan
- Provide actuarial and risk management peer review across teams and divisions
- Perform other duties as assigned by senior management
- A Bachelor’s degree in actuarial science, statistics, accounting, finance, insurance or related disciplines
- Qualified actuary and minimum 3 years' actuarial work experience. ASA or equivalent with more relevant actuarial work experience will also be considered
- Knowledge of economic capital, internal model, risk management, regulatory requirements, industry practices and market dynamics will be highly valued. Experience with overseas solvency regime will be an advantage
- Strong analytical, interpersonal and communication skills
- Strong command of written and spoken English
A competitive remuneration package commensurate with the successful candidate’s experience and qualifications on a 2-year contract, with a prospect of conversion to permanent employment, will be offered.
Review of the applications will start as soon as possible and continue until 16 November 2020, or until the post is filled. Interested applicants may send a letter of application quoting the reference number in the heading, together with a full resume stating current and expected salaries to firstname.lastname@example.org
The Insurance Authority is an equal opportunities employer. Applicants not invited for an interview within 2 months from the closing date may assume their applications unsuccessful. Applications may be considered for other suitable positions within IA. All applications will be handled in strict confidence and the information collected will only be used for recruitment purposes. All information on non-shortlisted applicants will be destroyed after 6 months from the close of applications.