Head of Risk, Singapore

Who we are

American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.

Get to know the business

General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.

Your future team

As an insurance industry leader, we’re in the business of helping our clients manage risk. And as a global corporation of nearly 50,000 employees in more than 80 countries, we face a wide array of our own risks every day. These can come from financial markets, operational errors and regulatory changes, which can affect our workforce, our profitability and more.

The Enterprise Risk Management (ERM) team is responsible for ensuring that our businesses have the right tools and systems in place to identify, measure and manage these risks. It also determines if AIG is paid sufficiently for the risks we take. The team plays a critical role in strategic decisions about where to expand or contract businesses, where to invest to collect premiums that are enough to cover future claims, and how much capital we need to reserve to weather unexpected events.

As an ERM employee, you will shape and support how AIG manages its risks. Your knowledge about the company’s risks will shape the daily decision-making among AIG’s businesses and functions, while informing our clients and the markets that we serve.

ERM also encourages them to speak up when they spot something that fosters risk so that we can address it in a timely manner.

What you need to know

About the role:
The role of the Head of Risk, Singapore is to maintain a robust risk management framework that is appropriate for the size, business mix and complexity of AIG Singapore, is in line with AIG policies and meets regulatory expectations.
- Responsible for the overall management and execution of the risk management strategy and activities.
- Maintain an effective risk management framework to identify, assess, manage, monitor and report all material risks that AIG Singapore is exposed to.
- Adequate support of the Board of Directors and the CEO in meeting their responsibilities with respect to the protection of policyholders and the management of the risk profile of the company.
- Facilitate quarterly management’s Risk and Capital Committee meetings.
- Engagement with the regulator on a needs basis.
- Annual review and maintenance of AIG Singapore’s Own Risk and Solvency Assessment (ORSA) Report, Risk Management Framework and Risk Appetite Statement.
- Implementation of the Operational Risk Management (ORM) framework, including facilitating the Risk and Control Self-Assessment (RCSA) annual work plan, maintaining the Risk Event capture and reporting program, Key Risk Indicators, etc.
- Key role in enhancing management of sustainability and environmental risk
- Strengthen the risk culture to underpin the effectiveness of the overall risk management framework.
- Risk reviews of material outsourcing, major initiatives and business development.
- Timely escalation of any risk matters to Singapore management, within the ERM function and to the Board as needed.
- Participate in and contribute to APAC and Global ERM/ORM initiatives.

Key Measuring

Parameters
- Implementation of ERM initiatives in an effective and efficient way
- Support local management in the whole risk management process including but not limited to identification, assessment, monitoring and mitigation etc. by using qualitative and quantitative tools

What we are looking for:

- Excellent experience preferably in broad scope of Risk Management; or experience in general insurance industry operations;
- Minimum Bachelor’s degree. Partially or fully qualified in Actuarial, ERM, CFA or other related profession is an added advantage;
- Excellent communication skills in both oral and written English;
- Self-motivated and can drive initiatives independently;
- Have flexibility to work in a dynamic, multinational and challenging environment.

We are an Equal Opportunity Employer

American International Group, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally