Jin Won Kim

Experience

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  Allianz Life Korea

  Feb 1995 - Feb 2005

  Head of Actuarial/Financial Modeling

  Head of Actuarial/Financial Modeling (Sep. 2003 ~ Feb. 2005)Direct report to CFOResponsible for financial projections & valuations-. USGAAP/IFRS actuarial values reporting-. Recoverability Test, Loss Recognition Test & Liability Adequacy Test (Local and USGAAP/IFRS)-. Profitability reporting for major product lines-. Financial planning for Strategic Dialogue & Planning Dialogue-. Support of investment planning/ALMResponsible for the Embedded Value reportingResponsible for the calculation/support of Risk Capital-. Market Risk-. Mortality Risk-. Life Liability & Business RiskResponsible for proposal and monitoring of the company’s Best EstimatesResponsible for Supporting ALM with regard to the liabilityResponsible for the company’s projection model (MoSes)Actuarial Valuation (Dec. 1999 ~ Sep. 2003)Direct report to Chief Actuary & CFOResponsible for the USGAAP actuarial values reportingResponsible for the Embedded Value reportingResponsible for the Financial projections for Strategic Dialogue & Planning DialogueResponsible for the “Project of USGAAP Valuation on Client-Server System” on the seriatim basis (Jan. 2002 ~ Jun. 2002)Responsible for the company’s projection model (TAS)Responsible for the calculation/support of Risk Capital-. Market Risk-. Mortality Risk-. Life Liability & Business RiskStatutory Valuation (May. 1999 ~ Dec. 1999)Responsible for the calculation of Statutory actuarial valuesRebuilt the calculation system of outstanding claims for survivor’s annuity benefitsProduct Development (Mar. 1998 ~ May. 1999)Responsible for establishing actuarial memorandum, technical notes, premiums and mathematical reservesStatutory Valuation and Source of Earning Analysis (Feb. 1995 ~ Mar. 1998)Responsible for the calculation of Statutory actuarial valuesResponsible for the calculation and analysis of source of earnings Show less

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  PCA Life Insurance Co., Ltd.

  Mar 2005 - Dec 2005

  Corporate Actuary

  Corporate Actuary, Head of Corporate Actuarial (Mar. 2005 ~ Nov. 2005)Direct report to CFO and Regional ActuarialProvide actuarial insights and expertise to the managementResponsible for financial projections & valuations-. Statutory actuarial values reporting-. Loss Recognition Test & Liability Adequacy Test (Local and IFRS) reporting-. IAS19 reporting-. Achieved Profits reporting-. EEV & NBAP reporting-. Financial planning for the business plan-. Strategic asset allocation for the valuation-. Expense allocation-. Monthly monitoring of financial KPIsResponsible for the Capital and Solvency management-. Financial Conglomerate Directive (FCD) reporting & controlling-. Financial Condition Report (FCR) & controlling-. Reinsurance Treaty arrangement & controllingResponsible for the company’s Best Estimates and experience studiesResponsible for the company’s projection models (Prophet & DFA) Show less

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  Allianz Life Korea

  Dec 2005 - Dec 2008

  Chief Actuary

  Actuarial Director, Chief Actuary & Head of Actuarial Office (Dec. 2005 ~ Dec. 2008)(responsible for four Actuarial Departments including Financial Management Department)Direct report to CFO (DCEO) and Allianz GroupResponsible for all actuarial cycles including product development processProvide actuarial insights and expertise to the managementResponsible for financial projections & valuations-. Statutory actuarial values reporting & controlling-. USGAAP/IFRS actuarial values reporting & controlling-. Monthly monitoring & review of financial results compared to the Planning Dialogue-. Life Actuarial Balances control reporting & controlling-. Recoverability Test, Loss Recognition Test & Liability Adequacy Test (Local and USGAAP/IFRS) reporting & controlling-. MCEV & VNB reporting & controlling-. Sales Value control (Sales target and value achievement)-. Financial planning for Strategic Dialogue & Planning Dialogue-. Profitability reporting & controlling for Line of Business (LOB)-. Expense allocationResponsible for the Capital and Solvency management-. Risk Capital (Economic Capital) & Solvency reporting & controlling-. Reinsurance Treaty arrangement & controllingResponsible for the product pricingResponsible for the company’s Best Estimates and experience studies Member of FRDC (Financial Reporting & Disclosure Committee)Member of Product CommitteeMember of ALM CommitteeMember of RMWC (Risk Management Working Committee)Close cooperation with CIO for SAA (Strategic Asset Allocation), risk & return profile monitoring and supporting Investment Committee consists of BODResponsible for the company’s projection models (MoSes & ALIM) including ALM Show less

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  Woori Aviva Life

  Dec 2008 - Jun 2011

  Chief Actuary & Appointed Actuary

  Managing Director, Chief Actuary & Appointed Actuary (Dec. 2008 ~ Jun. 2011)Direct report to COO (DCEO) and Aviva GroupResponsible for all actuarial cycles including product development processProvide actuarial insights and expertise to the managementResponsible for financial projections & valuations-. Statutory values reporting & controlling-. USGAAP/IFRS values reporting & controlling-. MCEV & NBC reporting & controlling-. Recoverability Test, Loss Recognition Test & Liability Adequacy Test (Local and USGAAP/IFRS) reporting & controlling-. Monthly monitoring & review of financial results-. Life Actuarial Balances reporting & controlling-. Sales Value control (Sales target and value achievement)-. Strategic & Financial planning-. Profitability reporting & controlling for Channel and Line of Business-. Expense allocationResponsible for the Capital and Solvency management-. Risk Capital (Economic Capital) & Solvency reporting & controlling-. Reinsurance management & Treaty controllingResponsible for the product pricing, product filing and Channel profitabilityResponsible for the company’s Best Estimates and experience studies SAA (Strategic Asset Allocation), risk & return profile monitoringResponsible for the company’s projection models (MoSes) including ALMMember of RMC (Risk Management Council)Member of Product CommitteeMember of ALM CommitteeMember of Investment Committee Show less

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  ING Life Korea

  Jul 2011 - Sept 2018

  Primary objectives as the second line of defense:Provide independent advice/appraisal (and on some occasions may veto) on products, investments, ALM, sales practices, financial models and assumptions, IT and operational risks, and any other related risks in the businessDevelop and implement risk management plans for the organisationInvolved in Divestment processRoles & Responsibilities:Develop and maintain appropriate risk and capital management strategies and guidelinesSet up and monitor risk exposure against risk budget and capital positionEstablish operational risk management framework, guideline and its execution planIndividual risk assessment and management (new sales channel, channel, product, outsourcing, event etc.)Identify potential risk embedded in distribution channelsEnsure integrated Business Continuity Management Plan (BCMP) and its executionEstablish Operation Guideline of Internal Accounting Management System (IAMS a.k.a. SOX) and assess its effectivenessReview and approve (and on some occasions may veto) the followings:- new products and changes to product terms and conditions, - new or changes to underwriting guidelines, reinsurance strategy & treaties, commission schemes, - new investment classes, investment mandate and ALM strategies,- financial/actuarial/risk models and assumptionsSign-off on risk reports, including but not limited to Financial Risk Report, Economic Capital, Risk DashboardEnsure Risk Committees are operating as per the stipulated frameworkActively participate in executive management team and other committees & discussions as necessary in line with functional line risk objectives, providing inputs on risks in the business, both financial and non-financialResponsible for the validations of 1) product basic documents and actuarial memorandum for the regulatory product pricing and filing and 2) actuarial reserves and profit disposition, as the Appointed Actuary for the secondary duty. Show less Vice President, Corporate Actuary, Head of Corporate Actuarial Office (Jul. 2014 ~ May 2015)(Responsible for Corporate Actuarial Office, following the organization restructuring stemming from the ownership change to MBKP from ING Group)Direct report to CFO (DCEO/EVP)Responsible for all actuarial values reportingsProvide actuarial insights and expertise to the managementInvolved in Divestment process - Actuarial areaResponsible for financial projections & valuations-. Statutory values reporting & controlling-. IFRS values reporting & controlling-. MVBS(MCEV) & MCVNB reporting & controlling-. TEV & TVNB reporting & controlling-. Recoverability Test, Liability Adequacy Test & Reserve Adequacy Test (Local and IFRS) reporting & controlling-. Monthly monitoring & review of financial results-. Margin Analysis reporting & controlling-. Sales Value control (Sales target, value achievement and risk management)-. Financial planning-. Profitability reporting & controlling for Channel and Line of Business-. Expense allocationResponsible for the Capital and Solvency management-. Reinsurance managementResponsible for the company’s projection models (Prophet & ALS)Member of IMC (Insurance Model Committee)Member of ALM/Investment Committee Show less Executive Director, Corporate Actuary (Jul. 2011 ~ Jun. 2014)(Responsible for Actuarial, Sales Channels Compensation and Sales Risk Management)Direct report to CFO (DCEO/EVP) and ING GroupResponsible for all actuarial values reportingsResponsible for Distribution Channels Compensation & Agent ManagementResponsible for Sales Risk ManagementProvide actuarial insights and expertise to the managementInvolved in Divestment process - Actuarial areaResponsible for financial projections & valuations-. Statutory values reporting & controlling-. IFRS values reporting & controlling-. MVBS(MCEV) & MCVNB reporting & controlling-. TEV & TVNB reporting & controlling-. Recoverability Test, Liability Adequacy Test & Reserve Adequacy Test (Local and IFRS) reporting & controlling-. Monthly monitoring & review of financial results-. Margin Analysis reporting & controlling-. Sales Value control (Sales target, value achievement and risk management)-. Financial planning-. Profitability reporting & controlling for Channel and Line of Business-. Expense allocationResponsible for the Capital and Solvency management-. Reinsurance managementResponsible for the company’s projection models (Prophet & ALS)Responsible for controlling Distribution Channels & Agent-. Strategic compensation scheme for various sales channels-. Agency administration-. Compensation & claw-back execution-. Risk management relating to sales compensation and agentsResponsible for controlling Sales Risk-. Identify signals of potential sales risks in a timely manner-. Prevent deterioration & spread of problems among the agents-. Value creation & synergy with other functions to improve sales risk controlMember of IMC (Insurance Model Committee)Member of ALM/Investment Committee Show less

  • Vice President, Chief Risk Officer (& Appointed Actuary), Head of Risk Management Office

    Jun 2015 - Sept 2018

  • Vice President, Corporate Actuary

    Jul 2014 - May 2015

  • Executive Director, Corporate Actuary

    Jul 2011 - Jun 2014
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  Orange Life (former ING Life Korea)

  Sept 2018 - Nov 2019

  Senior Vice President(전무) / Chief Risk Officer (& Appointed Actuary)

  Primary objectives as the second line of defense:Provide independent advice/appraisal (and on some occasions may veto) on products, investments, ALM, sales practices, financial models and assumptions, IT and operational risks, and any other related risks in the businessDevelop and implement risk management plans for the organisationInvolve in Divestment processRoles & Responsibilities:Develop and maintain appropriate risk and capital mgmt strategies and guidelinesSet up and monitor risk exposure against risk budget and capital positionEstablish operational risk management framework, guideline and its execution planIndividual risk assessment and management (new sales channel, channel, product, outsourcing, event etc.)Identify potential risk embedded in distribution channelsEnsure integrated Business Continuity Management Plan (BCMP) and its executionEstablish Operation Guideline of Internal Accounting Management System (IAMS a.k.a. SOX) and assess its effectivenessReview and approve (and on some occasions may veto) the followings:-new products and changes to product terms and conditions, -new or changes to underwriting guidelines, reinsurance strategy & treaties, commission schemes, -new investment classes, investment mandate and ALM strategies,-financial/actuarial/risk models and assumptionsSign-off on risk reports, including but not limited to Financial Risk Report, Economic Capital, Risk DashboardEnsure Risk Committees are operating as per the stipulated frameworkActively participate in executive management team and other committees & discussions as necessary in line with functional line risk objectives, providing inputs on risks in the business, both financial and non-financialResponsible for the validations of 1) product basic documents and actuarial memorandum for the regulatory product filing and 2) actuarial reserves and profit disposition, as the Appointed Actuary for the secondary duty.Committees:Member of IMC/IRC/ALCOs/CRS/PSC/ICC Show less

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  OrangeLife (former ING Life Korea)

  Dec 2019 - Jun 2021

  Executive Vice President(전무) / Chief Risk Officer

  Primary objectives as the second line of defence:Provide independent advice/appraisal (and on some occasions may veto) on products, investments, ALM, sales practices, financial models and assumptions, IT and operational risks, and any other related risks in the businessDevelop and implement risk management plans for the organisationInvolve in Divestment processRoles & Responsibilities:Develop and maintain appropriate risk and capital mgmt strategies and guidelinesSet up and monitor risk exposure against risk budget and capital positionEstablish operational risk management framework, guideline and its execution planIndividual risk assessment and management (new sales channel, channel, product, outsourcing, event etc.)Identify potential risk embedded in distribution channelsEnsure integrated Business Continuity Management Plan (BCMP) and its executionEstablish Operation Guideline of Internal Control of Financial Reporting (ICFR a.k.a. SOX) and assess its effectivenessReview and approve (and on some occasions may veto) the followings:-new products and changes to product terms and conditions, -new or changes to underwriting guidelines, reinsurance strategy & treaties, commission schemes, -new investment classes, investment mandate and ALM strategies,-financial/actuarial/risk models and assumptionsSign-off on risk reports, including but not limited to Financial Risk Report, Economic Capital, Risk DashboardEnsure Risk Committees are operating as per the stipulated frameworkActively participate in executive management team and other committees & discussions as necessary in line with functional line risk objectives, providing inputs on risks in the business, both financial and non-financialCommittees:Member of IMC/IRC/ALCOs/CRS/PSC/ICC Show less

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  The Map Actuarial Consulting

  Aug 2023 - now

  Executive Vice President (전무)

  Providing (Re)Insurance Companies with actuarial services such as 1) audit/validation of insurance contracts reserves and their solvency(risks & capital) positions, 2) development and validation of insurance products and their key rates, e.g. risk rates, 3) development and support of actuarial/risk systems and 4) other actuarial advice and services for the clients' needs.