Deputy Manager, Enterprise Risk & Insurance Management

The position is responsible for assisting Chief Risk Officer (CRO) by working together with Head of ERM in all aspects of the risk delivery. The person will work closely with Head of ERM in support of CRO, implementing Enterprise Risk Management Framework focusing on Tier 1 & 2 risk reporting i.e. Strategic, Operational, Projects & Investment Risks, subsidiaries & HQ risks and Insurance Management. The person shall also assist the CRO by working together with Head of ERM in other strategic initiatives. The person shall coordinate with other functional areas in the Company particularly business units to ensure all risks in the Company are identified, measured, mitigated/managed, and monitored/reported.

Job Summary :

• Work closely with Head of ERM in support of CRO to ensure Group risk policies and operating models are appropriately localized and implemented;

• Assist CRO by working together with Head of ERM, in matters pertaining to Risk, Sustainability and Governance Committee (RSGC) reporting, e.g. Risk Management quarterly reporting, data pull, and trend;

• Identify risks and their indicators in risk reporting and monitoring, addressing mitigation plans;

• Facilitate an analysis of the financial and non-financial impact when risks occur;

• To partner with the Head of Group Services and Head of Business Units to ensure that all Risks (Tier 1 & 2) risks including investment & project risks, top risk and top emerging ESG & ABC risk identification and mitigation, implementation of appropriate risk management systems and loss event database are properly identified, quantified, managed and monitored;

• To partner and collaborate with other Lines of Defence i.e. Internal Audit, Compliance, and Integrity Unit & Sustainability to implement an integrated operational risk management framework, including regular updates and tracking of the Risk and Compliance Assessment process, Internal Audit plan, and reports, Compliance / Integrity Unit’s top risk and top emerging ABC & ESG risk identification and mitigation, implementation of appropriate risk management systems and loss event database;

• Be the subject matter expert and change agent on Enterprise Risk Management;

• Perform horizon scanning to identify emerging risks which may impact the organisation arising from changes in the external environment.

• Highlight emerging risks through flash report and emerging risk updates for RSCG;

• Direct engagement and review on insurance related queries on medical malpractise, general, directors & liabilities and other lines of insurance coverage;

• Assess and review the adequacy of insurance coverage on an annual basis and present to relevant Committees for renewal;

• To systematically strategize to ensure effectiveness in handling incidents, ensuring a proactive and efficient approach to incident resolution at the Hospital and/or HQ to avoid escalation of incident into crisis;

• Execute the implementation of Risk Management digitization, use of analytics, Machine learning, and Automation;

• Assist in developing outreach and engagement activities in support of embedding and strengthening risk management culture and awareness;

• Delivering impactful risk management training;

• Deliver risk management training syllabus and propose recommended professional certification to be undertaken by all Teams;

• Participate in outreach activities, including the Risk Forum and top management across the Group;

• Other business units/functions – Execute and deliver initiatives on a regular basis to identify unique/emerging risks and design risk management strategies to address the risks identified;

• Perform independent risk review and validation for any request on the Group’s undertakings;

• Assist in developing Enterprise's risk reporting/dashboard, timely communicate/escalate risk events, issues, and compliance with risk policies and limits to key stakeholders in the Company and in the region; manage the Company’s quarterly risk reporting;

• Regularly review the Risk Management Framework and operating structure for identifying, assessing, managing, and monitoring risks;

• Execute the annual Risk Management processes with key business units, and stakeholders, update the risk assessment, and ensure adequate measures are in place to mitigate the identified risks;

• Monitor the risk appetite, identifying key risk management strategies, assessing and profiling the key risks affecting the achievement of the business plans at group, business division, and at department levels;

• Develop, refine, and review the Risk Register and evaluate the relevance of risks identified across business units in the Group;

• Assist the Senior Management team in improving risk management / mitigating strategies and techniques, and carrying out follow-up action plans and their effectiveness in mitigating/controlling risks;

• Review and evaluate the effectiveness of the implementation of action plans for risk management – provide assurance on whether the risk mitigation process is being driven effectively and efficiently, whilst also continuously monitoring whether the risk register is being updated appropriately;

• Evaluate and draw attention to possible gaps in the risk register to the Senior Management and Head of Business Units - follow up on the development of control environment to overcome deficiencies in the risk management/mitigating process;

• Collaborate working with relevant functions (e.g. Risk Management, Internal Audit, Finance, and Legal) to build up and/or implement a risk control framework (i.e. compliance self-assessment) and provide quality and solutions-focused advice on risk and control issues relevant to the business division for informed decision-making on compliance and ethics matter;

• To review and provide an independent assessment view on the key risks associated with projects & investment undertaken with focus on Investment Risks.

• To review and challenge the proposals submitted by Hospitals or Subsidiaries on investment of new towers, renovations, major acquisition of assets and divestments by assessing their assumptions, investment costs, scenario analysis, sensitivity analysis, stress testing to evaluate the project resilience under various market conditions.

• To review and challenge the proposals submitted by Hospitals or Subsidiaries on investment of new towers, renovations, major acquisition of assets and divestments by assessing their assumptions, investment costs, scenario analysis, sensitivity analysis, stress testing to evaluate the project resilience under various market conditions.

Job Specifications :

• Bachelor’s Degree in Risk Management, Finance, Accounting, Business Administration, Economics, Actuarial Science or related discipline.

• Minimum 5–8 years of relevant working experience in Enterprise Risk Management (ERM), Internal Audit, Compliance, or Financial/Operational Risk Management.

• Experience in healthcare industry will be an added advantage.

• Strong technical risk management and proven ability to implement practical risk management processes and frameworks.

• Experience and skill in investment & project risk assessment i.e. Stress testing, VaR, Scenario analysis, Monte Carlo etc. (added advantage)

• Knowledge of prevailing corporate governance requirements.

• Solid financial and commercial acumen and understanding.

• Excellent presentation skills and experience planning and facilitating workshops/risk exercises with senior level audiences.

• Experience in ERM & knowledge of Risk Management Standards  such as ISO 31000.

• Robust diligence and ability to pay close attention to detail, including impeccable report-writing skills.

• Must demonstrate the ability to handle multiple and conflicting priorities, and work under strict deadlines.

• Should be an effective communicator with the ability to handle both internal and external communication.

• Should demonstrate the ability to identify and respond to risk areas within the department.

• Strong bias for numbers and data.

• Experience in financial modeling, statistical methods/models, probabilistic modelling, quantitative analysis, data analytics.

• Proficient in financial modeling techniques, Excel and financial analysis tools.