Siew Khuen Poon (Kenny)

Insurance license application

• Served as regulator-approved Key Person in Risk Management function
• Built from scratch for the ERM framework, risk appetite and policies under HK Risk-based capital framework (similar to Solvency II) for insurance license application

Enterprise and financial risk management

• Established Risk Management Committee and charter.
• Voting member of Asset Liability Management Committee and Product Committee to cover financial-related decisions. Professional challenges on Investment team and external asset manager.
• Conducted market risk assessment and capital impact of COVID-19 and Russian-Ukrainian crisis.
• Developed the Company’s ORSA (Own Risk and Solvency Assessment) processes including consultation with regulators, scenario generation with Actuarial. Independently compiled its first ORSA report for HK regulatory submission.

Product review and approval

• Risk assessments on new/non-standard insurance products and reinsurance arrangements escalated from Asian entities for approval, to ensure that material product and operational risks are identified and mitigated.
• Steered the insurance and reinsurance approval process in proper governance path. Close follow-up on timely turnaround by diverse stakeholders.
• Focused on Australia market. Deep-dive on inforce block profitability by product-group level.

Embedding Enterprise Risk management (ERM) Framework

• Directly reported to CRO on whole process of Risk Appetite Statement development and annual review. Risk tolerances, risk metrics/KRI and risk limits setup.
• Developed financial risk management guidelines for team daily operation and training to juniors.
• Key in establishing risk dashboard & reporting framework. Prepared insightful write-up/ppt for risk communication.
• Professionally challenged 1st line risk input. Assessed risk exposures and impacts through daily interactions with 1st line.
• Drove the company pilot ORSA process for both Bermuda CISSA and HK regulatory filings.
• Regular update on ERM policies upon evolving HKRBC requirement.

Financial Risk and Asset/liability management

• Developed risk-adjusted return measure and VaR from Bloomberg MARS module.
• Established investment portfolio compliance workflow to detect investment breaches in Bloomberg for USD 10 bn asset portfolio.
• Led development and implementation of internal Risk Capital framework & model with external consultants.
• Involved in company IFRS17 taskforce as risk representative at initial phase of IFRS17 implementation. Knowledge on IFRS17 methodology.
• Preliminary capital management study on interest-sensitive inforce block with actuarial ALM to stabilize solvency using coinsurance and investment re-classification
• Risk scenario development and result validation in various processes including ORSA, business planning, ALM strategy formulation & new investment initiatives.
• Appointed as secretory of Asset Liability Management Committee to assist CRO on meeting materials and preparation.

Corporate governance and control

• Guided actuarial, investment and finance departments to strengthen controls through annual Risk and Control Self-Assessment (RCSA) exercise.
• Steered the rollout of model governance through policies, interviews and training materials.
• Hand-on experiences in Implementing key risk register and incident management for financial-related processes.

Financial reporting

· Managed a team to deliver all HK & Singapore statutory filings (covering Singapore RBC, stress testing for ORSA)

· Resolved queries from external auditors and regulators on statutory filings.

Capital Management

· Multi-year capital projection for joint taskforce with US head office on capital transfer initiatives.

· Developed solvency monitoring guidelines, setting threshold triggers and mitigating actions.

ALM and Projects – Singapore-focused

· Assessed ALM profiles for HK & Singapore business on capital efficiency, duration mismatch and solvency sensitivity.

· Supported development of investment mandates for Singapore office.

· Reviewed pricing reports and assumptions delivered to Singapore regulators.

Financial reporting

· Coordinated and reviewed 9 business units in Asia Pacific on regular MCEV and IFRS reporting. Consolidated results for regional presentation.

· Streamlined and automated actuarial review process on through VBA macro.

· Ensured actuarial reporting process within local entities comply with SOX governance.

Actuarial and risk management

· Supported the preparation work for Solvency II on Pillar I (comparison of ING economic capital approach and Solvency II SCR) and Pillar III (finance data quality and disclosure).

· Reviewed local entities’ proposals on methodologies and assumptions on value, IFRS, MC and LAT reporting.

Corporate valuation

· Delivery of actuarial valuation: IFRS, statutory & MCEV reporting covering Asian businesses.

· Team planning and coaching: managing a team of 4 towards tight reporting timeline

· Result analysis and communication: EV movement analysis, analysis of profits

· Writing actuarial methodology paper on USGAAP reporting for Singapore business.

· Achievements: increase USGAAP profits for Singapore business through reserve methodology revamp.