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 Responsibilities
Reporting to Assistant Vice President, the role holder will play a pivotal role in carrying out the full spectrum of fund operations. The day to day responsibilities include but not limited to
- Preparing daily Investment Linked fund (ILP) pricing and placement
- Investigating, resolving or escalating any discrepancies as appropriate.
- Handling fund changes, dividend distributions and trailer commissions
- Preparing units and bank reconciliation
- Preparing investment and fund operations expenses
- Handling account opening for any new ILP fund managers and custodians
- Updating account mandate
- ILP Reporting
He/She will ensure timely reporting of ILP expense ratios to regulators. This includes preparing ILP expense accruals and provisions.
- Documentation of key process and controls
He/She will ensure operational manuals including controls are up-to date. Actively looking for improvement in workflow with a view of minimising control weakness whilst improving efficiency and maintaining accuracy.
He/She will be completing the business continuity exercise yearly.
He/She liaises with internal and external auditors on MAS 307 audit and year end audit.
To participate in ad-hoc projects as and when assigned.
Key Decisions within the Role
- Adhere to Fund operations mandate, Operational Risk and Control Management, Financial Reporting Control Framework Financial Reporting Control Framework
Requirements
ü Excellent Problem Solving Skills
ü Highly motivated with ability to work independently and sometimes in a non structured environment
ü Ability to come up with out of the box solutions that can be presented in a structured and precise manner
ü Attention to details ü Excellent communication skills, both written and verbal ü Good working knowledge of AS400, and Oracle ü Strong knowledge in MAS 307 ü Versatile and resourceful to resolve issues ü Experience in process documentation ü Between 1 to 3 years experience as a fund administrator or similar is preferred
ü Academic: Bachelor's degree in accounting or finance (preferred)
ü Professional Certification(s): Nil
ü Complete Fit & Proper assessments successfully on an annual basis at minimum, or when other adjunct appointments are made.
Key Stakeholders
- External:
- Regulators in Singapore, Auditors
- Internal:
- All departments within Singapore Life Ltd where collaboration is required
