Chief Risk Officer, Global High Net Worth

General Description:

The Chief Risk Officer (CRO), GHNW is responsible for independent risk oversight and strategic risk leadership across the Global High Net Worth business with USD 480M annual APE target spanning Hong Kong, Singapore, Middle East, and Bermuda.

This role acts as a trusted advisor to the CEO and GHNW Leadership Team, ensuring that business growth, product innovation, and distribution expansion are pursued within the firm’s risk appetite and regulatory expectations.

The CRO leads the second line of defense, driving the effective implementation of the Enterprise Risk Management (ERM) framework, shaping risk-informed decision-making, and fostering a strong risk culture across GHNW.

For clarity, this role only acts as the “designated CRO” for Manulife Bermuda and Manulife Middle East as regards second line (risk) approval for relevant matters.  For Hong Kong and Singapore, this role consolidates the local HNW risk profiles into the collective GHNW business for informed business and strategic decision making, while formal second line authority remains with the respective local CROs.  The specific responsibilities below should be understood in this context, with the GHNW CRO remaining in regulator contact with the CROs of Hong Kong and Singapore                                                                                                                                                          

Responsibilities:

• Adapt and implement Manulife’s Global Enterprise Risk Management Framework to GHNW, accounting for local nuance in the business environment, organizational structures, regulatory expectations, cultural differences and other considerations.
• Drive accountability for risk ownership to the first line (business and central functions) in the market, while providing independent oversight and challenge for each step in the risk process.
• Collaborate with all functions to identify, measure and report on GHNW risk exposures and to ensure risks are managed within risk appetites and tolerances.
• Ensure that GHNW operates in compliance with all risk policies including those for the principal risks: strategic, market & liquidity, credit, insurance, operational and information risks.
• Approve initiatives for Bermuda to level of authority delegated from Asia CRO, including new products, change initiatives, distribution compensation schemes, etc.  Escalate initiatives outside these bounds or if regional opinion/support is needed.
• Develop and administer engagement and education initiatives to foster a risk aware culture and ownership of risk and to ensure officers, employees and agents understand Manulife’s enterprise risk framework and are aware of and comply with all risk policies, as appropriate.
• Act as chair for the GHNW Risk Management Committee (and sub-committees if applicable) as a forum for the senior management team to ensure that all material risk positions, risk policies, risk taking, and risk mitigation activities are reviewed, and that remedial plans are developed and monitored when Bermuda risk exposures are outside or approaching risk tolerances, as appropriate.
• Facilitate the setting of Bermuda risk appetite and limits and ensure alignment of Bermuda strategic plan with their risk appetite; oversee monitoring to ensure Bermuda operates within the risk appetite with escalation as necessary.
• Facilitate ongoing discussion on evolving risks and risk mitigation strategies with the GHNW leadership team.
• Drive the implementation of local regulatory Enterprise Risk Management and Own Risk and Solvency Assessment (ORSA)

Accountabilities:

• Independent oversight of GHNW risk profile and adherence to risk appetite
• Accuracy, integrity, and timeliness of risk reporting and disclosures
• Effectiveness of risk governance, controls, and escalation mechanisms
• Regulatory compliance across all operating jurisdictions
• Strength and maturity of risk culture across GHNW

Job Requirement / Competencies:

Experience

• 10+ years of experience with strong business sense and preferred with risk management experience
• Actuarial experience is preferred, but candidates with strong background in other complex processes such as operations will also be considered
• Highly effective influencing skills, including willingness to challenge peers and manager in open forum discussions.  Expected to influence business priorities and ensure risk-informed decision-making at the executive level.
• Highly developed financial acumen and business orientation
• Knowledge / experience in insurance products is helpful
• Good verbal and written English skill
• Solid working knowledge of enterprise risk management frameworks and processes
• Proven leadership skills and ability to develop staff
• Strong communication skills, including ability to translate complex technical issues into fundamental concepts
• Strong relationship building skills to build effective working relationships with local senior management peers, and as segment and group leaders
• High level of conceptual skills and an ability to operate strategically to minimize risks and leverage opportunities, but with ability and willingness to drill down into detail, with high level of attention as needed
• Creative problem solving and the ability to motivate others to implement new solutions
• Acting as a trusted advisor to the BU CEO and leadership team while providing independent challenge on risk appetite and exposures.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [email protected].

Hybrid