Chief Risk Officer
As Chief Risk Officer, Mark Austin is responsible for the identification, assessment, measurement, management and monitoring of all risks faced by Brookfield Annuity. It’s a job for which he’s perhaps uniquely qualified.
Early in his professional life, Mark worked as an actuary focused on analyzing the assets and liabilities of pension plans. Later he moved to counselling pension plan sponsors and insurance companies on investment strategy and asset allocation. Prior to joining Brookfield Annuity, Mark worked for one of the country’s major banks, where he was responsible for the credit risk limit framework and capital adequacy of the bank’s wholesale credit portfolio. He oversaw the bank’s inaugural enterprise-wide stress-testing exercise in 2007, and delivered significant improvements and actionable insights under this annual program during and following the global financial crisis.
Mark’s work experience and formal training provide him with a fluency in risk modelling, control frameworks, capital allocation and stress-testing, in addition to the financial management and de-risking of pension plans.
“Using the UK experience as an example, we expect to see that enabling our clients to de-risk helps to free up their balance sheets and will also free them up to become more operationally competitive.”