TAL has pre-empted regulatory requirements to beef up risk monitoring, with the appointment of a chief risk officer.

Scott Mackenzie has been recruited from Atlanta in the US, where he ran a risk consulting practice.

The Canadian previously spent almost 20 years in executive roles with ING, including CRO and CFO at ING Latin America and head of corporate planning and secretariat with ING Americas.

Mr Mackenzie replaces Chief Corporate Governance Officer Peter Noble, who has retired after seven years in that role.

TAL Group CEO Jim Minto says the job has been elevated to a specific executive management position.

“Enhancing our risk management capability and approach reflects on the continuing growth of the company,” he said.

“It also helps underpin the promises we make to our customers and partners that we will be there when they need us.”

Mr Minto says TAL has also set up a dedicated board risk committee, along with a framework to share risk management expertise and best practice across the broader Dai-ichi Life group.