Senior Analyst, Cash Management and Reconcialiation

Singlife is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife provides consumers control over their financial wellbeing at every stage of their lives.

In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with financial adviser channels and bancassurance, Singlife offers investment and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.

Singlife is the exclusive insurance provider for the Ministry of Defence, Ministry of Home Affairs and Public Officers Group Insurance Scheme. Singlife is also an official signatory of the United Nations Principles for Sustainable Insurance and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.

The merger of Aviva Singapore and Singlife was announced in September 2020 and created one of the largest homegrown financial services companies in Singapore in a deal valued at S$3.2 billion. It was the largest insurance deal in Singapore at the time. Singlife was subsequently acquired by Sumitomo Life in March 2024, one of Japan's leading life insurers, which valued Singlife at S$4.6 billion, making the transaction one of the largest insurance deals in Southeast Asia.

Key Appointments

. Oversight of Unit Linked and Life Insurance Investment accounting and reporting for Singapore Life Ltd.

. This role is the financial control role.

Key Responsibilities

1) Financial Close

He/She is responsible for the financial close of all Investment-Linked Policy (ILP) funds. This includes the preparation of revaluation entries, trailer commission and management rebate accruals, audit fee accruals, and expense provisions from various sources.

He/She reconciles ILP assets and policy liabilities, investigates discrepancies, and resolves issues within the assigned timelines.

He/She issues trailer commission billings and management rebate invoices, and prepares accounts receivable schedules.

2) Investment reporting

He/She is responsible for adhoc, monthly, quarterly and annual investment reporting to internal stakeholders, MAS and other regulators. Investment reports include but not limited to MAS Notice 122, MAS Notice 129, MAS Notice 133, statistics, dashboards, ESG disclosure, credit rating disclosure and investment commentaries.

3) Documentation of key process and controls

He/She will update key processes and controls on a quarterly basis by proactively identifying workflow improvements to minimise control weaknesses, enhance efficiency, and ensure the accuracy and integrity of fund accounting.

During inspections or reviews, he/she will act as a key support member for ILP matters, assisting internal auditors and/or the second line of defence.

4) Audit

He/She will assist his/her reporting line for external and internal audit in relation to ILP.

5) Adhoc tasks

To participate in ad-hoc assignments or role rotation within Investment Accounting, Fund Operations and Cash Management team.

Key Decisions within the Role

. Adhere to Financial Reporting Control Framework

Team

. Direct Report - NIL

. Team size - 3

Requirements

Experience

• Excellent problem-solving skills
• Highly motivated with ability to work independently and sometimes in a non-structured environment
• Ability to come up with out of the box solutions that can be presented in a structured and precise manner
• Attention to details
• Excellent communication skills, both written and verbal
• Good working knowledge of AS400, and Oracle systems
• Strong knowledge in Financial Reporting Standard (FRS) 109, MAS Notice 122, 129, 133 and 307
• Versatile and resourceful in resolving issues efficiently
• At least 1 year experience as fund accountant or auditor is preferred

Education

• Academic: Bachelor's degree in accounting or finance (preferred)
• Professional Certification(s): NIL (preferred / mandatory)
• Complete Fit & Proper assessments successfully on an annual basis at minimum, or when other adjunct appointments are made

Key Stakeholders

External:

• Customers: NIL
• Others: Regulators in Singapore, Auditors and Vendors
• Liaison: NIL

Internal:

• All departments within Singapore Life Ltd where collaboration is required