Chief Risk Officer (Phó Tổng Giám Đốc Quản Trị Rủi Ro)

1. Enterprise Risk Management (ERM):

• Responsible as the 2nd Line of Defense for oversight of all risks and the ongoing compliance with the PVA Risk Framework, policies and standards;

• Identify and manage business risks in order to protect Prudential’s brand, integrity and reputation and manage financial exposures. This specifically incorporates key Risk Based Decision making and approval processes;

• Develop, communicate and implement a cross-functional risk management framework & vision consistent with PCA Group Risk standards to safeguard  the business from financial (FRM) and operational (ORM) risks, while enhancing organizational capabilities to deliver on its business strategy;

• Develop and embed risk management programs, methodologies, tools and techniques that are consistent with PCA Group Risk standards & guidelines, including risk identification, risk limits and risk appetite;

• Develop the risk reporting and escalation framework and provide regular reports to internal (Members Council, TLT, Audit) and external (MOF, PCA Group) stakeholders;

• Provide risk focused advice and information on key business decisions and challenge any business strategy or plans that exceed appetite or tolerance;

• Develop effective working relationships with all key stakeholders, ensure all governance committees and relevant PCA functions are kept fully informed of all relevant issues in a timely manner and provided with proactive guidance.

• Recommend standards and policies for all Risk Functions to the relevant committees and ensure agreed policies are implemented. Ensure arrangements are in place to monitor performance and adherence to PVA and PCA Standards;

• Be aware of and demonstrate through actions adherence to external regulatory obligations;

• Ensure that the data used by the firm to assess its risks are fit for purpose in terms of quality, quantity and breadth;

• Provide oversight and challenge of the firms systems and controls; and the firms external reporting of risk;

• Ensure the adequacy of risk information, risk analysis and risk training provided to the firm’s governing body;

• Work with PVA senior management and line managers to promote an active and positive culture of risk management.

(1a) Operational Risk Management (ORM)

• Drive and lead the development, implementation and maintenance of PVAs operational risk policy and governance framework;

• Conduct risk assessments across all asset classes and products as well as implementing the risk management approach across all business units;

• Collaborate with Distribution, Operations and PCA to provide risk advisory on new business/product development, geographical expansion and business acquisition;

• Challenge and validate the effectiveness of the business using the risk management processes (risk identification, assessment, measurement, acceptance and monitoring) to reduce gross operational risk exposure to acceptable levels within the risk appetite;

• Maintain and improve risk assessment and monitoring programs, conduct thematic control reviews, advise the business on new operating models and participate in regional projects;

• Provide a focal point of control over the aggregate level of operational risk that result from end-to-end processes.

(1b) Financial Risk Management (FRM):

• Coordinate with relevant first line functions, including Actuarial & Finance and PCA financial risk management & oversight team;

• Produce financial risk management information (MI) according to FRM policies, PCA guidance and coordinate with PCA FRM Team on any ad-hoc required inputs for quarterly PCA financial risk update;

• Facilitate the financial risk identification and assessment within PVA, ensure the risk definition and categorization defined in PCA Risk Framework are properly followed;

• Coordinate the model validation and response to PCA’s requirements relating to internal model governance;

• Escalate financial risk issues and breach of financial risk appetite/limits, where required, in line with escalation procedures prescribed in PCA Financial Risk Manual;

• Monitor and report alarming FRM situations, outstanding issues and action plans for financial risk mitigation to PVA Risk Committee and PCA FRM Team, where required.

Legal:

• Provide legal oversight and advice to facilitate compliance with legal and regulatory requirements in line with evolving international and local industry business standards and practices;

• Provide advice on corporate, regulatory and business issues and give opinions on all in-house legal matters;

• Manage and lead litigation matters and internal investigations in relation to fraud / transgressions involving agents and staff and subsequently, recommend and/or initiate corrective / disciplinary steps/measures;

• Maintain an updated and comprehensive understanding of the regulatory and legal requirements and standards as they apply to PVA, provide advice and guidance to the TLT on regulatory interpretation;

• Supervise a team of legal professionals to support the business of PVA;

• Review high-impact claims and deliberate on legal position of PVA;

• Review policy wordings, agreements and other legal documentations;

• Review marketing materials and provide advice and comments to safeguard company’s interest in compliance with regulatory requirements;

• Be in charge of disputes and litigations and where relevant, liaise and correspond with external law firms.

Corporate Secretarial:

• Oversee all corporate secretarial functions;

• Ensure smooth running of the TLT and Members Council (MC) meetings in respect of agendas, preparing papers, advising on procedures;

• Review all legislative, regulatory and corporate governance developments that might affect the Company’s operations, and ensure the TLT is briefed on such regulations;

• Ensure compliance with all statutory filings, corporate governance and regulatory disclosures.

Compliance:

• Lead and direct the Compliance function with key objectives to uphold the standards of conduct as duly set out in the Compliance Policies and Procedures via compliance review processes for the company;

• Review and monitor compliance with regulatory policies and procedures;

• Identify potential areas of compliance vulnerability and risk. Develop and implement corrective action plans for resolution of problematic issues, and provide general guidance on how to avoid or deal with similar situations in the future;

• Provide regulatory compliance guidance to Management with regards to overall business operations;

• Oversee development of communication tools and vehicles to disseminate and update Management and staff of compliance initiatives, related policies and procedures, regulatory updates;

• Ensure that all operational and business processes comply with the policies and procedures; prevent, detect and correct non-compliant practices;

• Implement & monitor the compliance programs and related activities on a continuing basis, taking appropriate steps to improve effectiveness; 

• Collaborate with Corporate Affairs and Government Relations for all interactions with the Regulators;

• Raise overall standards of compliance and work practices by inculcating a compliance culture into the business and advise management and staff of law and regulatory changes;

• Collaborate  with Human Resources and others as appropriate, to conduct compliance training and communication plans for employees, including orientation for new employees and ongoing training for all employees;

• Collaborate with Distribution and others as appropriate, to conduct compliance training and communication plans for agency and partnership sales channels.

(3a) Fraud Prevention & Detection:

• Provide leadership, oversight, and expert advice to ensure development, interpretation and implementation of fraud and investigations strategies, programs and policies;

• Develop and direct an effective fraud and investigation function through a clear charter of mission, comprehensive fraud risk management strategy, written policies and procedures and sufficiently experienced personnel;

• Drive and inculcate fraud awareness across all levels of management, staff and distribution channels to create zero tolerance to fraud in the organization.

(3b) Anti-Bribery and Corruption (ABC):

• Appointed as Anti-Bribery and Corruption Officer (“ABCO”) for PVA;

• Ensure that PVA has in place a robust ABC Program, in line with PCA and local policy with appropriate controls in place to manage the risks to the business;

• Ensure any breach or potential breach to the ABC appetite or ABC policy requirements is timely reported to PVA’s senior management and PCA Financial Crimes & Security Team; and appropriate investigations and follow-up actions are taken in time;

• Lead the regular assessment on bribery & corruption risks following the regional ABC risk assessment approach.

People Management:

• Recruit, build and develop an engaged, competent and effective team;

• Conduct and document regular performance reviews and an annual reviews;

• Implement open and clear lines of communication with the Risk team through regular career development discussions with direct reports, in line with the PVA Performance Management Process;

• Establish a framework to retain high-potential and high-performance team members, by identifying talent and implementing clear succession plans.

This role is to:

• development and implementation of a comprehensive enterprise risk management (ERM) framework.

• Define and monitor the company’s risk appetite and tolerance levels in alignment with strategic goals.

• Oversee risk identification, assessment, mitigation, and reporting across all business functions.

• Ensure compliance with local and international insurance regulations, including reporting to regulatory bodies.

• Lead the development of risk policies, procedures, and internal control systems.

• Advise the Board and executive team on emerging risks and strategic risk scenarios.

• Coordinate with internal audit, legal, compliance, and actuarial teams to ensure integrated risk oversight.

• Promote a strong risk culture through training, communication, and leadership engagement.

Qualifications

• Bachelor’s degree in Risk Management, Finance, Actuarial Science, Business Administration, or related field.

• Master’s degree or professional certifications (e.g., FRM, CRM, CIA) are preferred.

Experience

• Minimum of 15 years of experience in risk management, with at least 5 years in a senior leadership role.

• Experience in the life insurance or financial services industry is highly desirable.

• Proven track record in regulatory compliance, enterprise risk management, and governance.

Knowledge and skill

• In-depth knowledge of risk frameworks, insurance regulations, and financial controls.

• Strong analytical, strategic planning, and problem-solving skills.

• Excellent communication, stakeholder engagement, and leadership capabilities.

• Proficiency in risk analytics tools and reporting systems.

• Fluent in Vietnamese and English (spoken and written).