At AIA we've started an exciting movement to create a healthier, more sustainable future for everyone.
If that interests you, read on.
About the Role
The Director of Strategic Asset Allocation & Asset Liability Management (ALM) plays a critical leadership role in shaping the Group's long-term investment strategy, ensuring alignment between assets and liabilities across Local Business Units (LBUs) while optimizing against the Group's financial objectives and metrics.
This role leads key components of the Group Strategic Asset Allocation (SAA) framework, collaborates closely with business units on portfolio design and liability-driven investment strategies, and drives enhancements in liquidity, funding sustainability, hedging, remittances and capital efficiency.
The Director works with the Group CIO, Group Treasury, Actuarial, Finance, Risk Management and Investment Management teams to ensure the Group maintains resilient, sustainable, and optimised balance‑sheet, growth and profitability outcomes.
Roles and Responsibilities:
Strategic Asset Allocation (SAA)
- Lead the development, enhancement, and governance of Group SAA and ALM frameworks, policies, and guidance to ensure alignment with business strategy, capital goals, and risk appetite, including models, and supporting analytical tools.
- Oversee SAA reviews for all markets, ensuring robust analytical support, cross‑functional input, and high‑quality submissions to Group committees.
- Identify and lead initiatives in embedding the SAA framework into LBUs, ensuring alignment with local business objectives, regulatory constraints, and liability profiles.
- Provide thought leadership on long‑term investment strategy design and portfolio construction working closely with the Investment Management and Risk Functions.
- Assess the impact of macroeconomic trends, market scenarios, and emerging themes on strategic asset allocation, then develop and drive relevant solutions.
- Support new business initiatives and product launches by evaluating SAA implications and portfolio design considerations.
- Develop Group‑level SAA recommendations, including dynamic strategies, hedge overlays, and structural ALM initiatives to strengthen balance‑sheet resilience and profitability.
- Build effective senior relationships with BUs and Group stakeholders in finance, actuarial, risk, investment management to ensure alignment in strategic objectives, and to work alongside these functions to develop solutions that represent optimal outcomes with stakeholder managed compromises.
- Produce strategic insights and materials for the Chief Capital Officer, Group CFO and relevant Group committees specifically in relation to SAA.
- Maintain SAA methodologies, policies, documentation, and governance standards for the Group.
SAA Management and Portfolio Optimization
- Design and work with the Investment Management function to execute derivative hedging strategies (e.g., duration, FX, equity, volatility overlays) for ALM and risk management assess and communicate their effectiveness to the Strategic Risk Committee (SRC).
- Identify portfolio‑level performance issues, risk exposures, and optimization opportunities, driving enhancements collaboratively with investment and risk teams.
- Identify opportunities to enhance the sustainability of investment portfolios, supporting the Group's long‑term ESG and investment objectives.
- Support the selection of appropriate portfolio management styles, benchmarks, and mandates, including the selection and oversight of external managers.
Asset Liability Management
- Ensure implementation of a purpose‑driven investment strategy that supports the liability structure and long‑term policyholder commitments, while optimizing capital and profitability returns in partnership with the Investment team.
- Develop and manage ongoing monitoring of the effectiveness of the ALM strategies in place and work with LBUs to identify areas that require enhancement and drive execution of solutions.
- Collaborate with Group Actuarial, Group Risk and Group Investment on economic assumptions, stress‑testing, market‑risk sensitivities, profitability and solvency impacts.
- Assess ALM dynamics at the product level, including par, non‑par, unit‑linked, and asset‑intensive businesses proposing improvements and solutions then working with BUs to implement these.
- Guide LBUs on ALM considerations arising from new business, regulatory changes, and market developments alongside Group priorities and objectives.
Reporting & Compliance
- Ensure compliance with the Investment Governance Framework, risk management and SAA/ALM requirements.
- Ensure timely, informative and compliant reporting.
Minimum Job Requirements:
- Minimum 15 years experience in roles related to institutional investment strategy, actuarial investment management or balance sheet strategy with direct involvement in and strong understanding of Investments, Markets, Capital and Risk.
- Bachelor's degree in Finance, Economics, Actuarial Science, Mathematics, or a related field advanced professional credentials such as Actuarial Fellowship or CFA designation are highly advantageous.
- Strong executive presence and stakeholder management capabilities, with the gravitas to lead discussions and influence decision‑making at senior levels, both internally and externally.
- Deep technical expertise in insurance capital regimes (e.g., RBC, ICS), IFRS17 accounting, and derivative‑based hedging strategies
- Build effective senior relationships with BUs and Group stakeholders in finance, actuarial, risk, investment management to ensure alignment in strategic objectives, and to work alongside these functions to develop solutions that represent optimal outcomes with stakeholder managed compromises.
- Demonstrated strategic thinking, with the ability to balance multiple priorities, drive continuous improvement, and deliver meaningful business outcomes
- Solid track record in developing investment solutions for long‑term institutional investors and working closely with Finance, Investment, Risk, and Asset Management partners.
- Commitment to the highest standards of integrity and professional conduct, complemented by curiosity, creativity, and a strong problem‑solving mindset.
