Finance Operations Officer

This position is part of the finance operations team reporting to the Head of Finance Operations / Finance Operations Manager. The person will be responsible for settlements, credit control and finance operation processing on transaction with intermediaries and reinsurance counterparties. 

This position will need to communicate with intermediaries and will be involved in finance transformation projections such as UAT on system improvements, improving workflow and process within the finance operations department. 

In addition, this person will be responsible for guiding other more junior Finance Team members.  

 
Key Responsibility Areas: 

• Manage settlement for premiums, commissions, credit control and daily finance operation processing on intermediaries for portfolio of IFA, reinsurance and Direct Channel. 

• Establish and improve the processes of credit control for portfolio where necessary 

• Perform issuance of Notice of Cancellation and Letter of Demand and liaise with external agencies/ law firm for recovery of premiums 

• Propose and perform write off for non-collectible premiums 

• Manage reconciliation of funds received and perform inter system and suspense reconciliation 

• Perform receipting allocation and reconciliation and liaise with internal/ external stakeholders to resolve related issues 

• Responsible for sending statement of account and commission advice for intermediaries 

• Liaise with intermediaries and Policy Management Team to resolve discrepancies in policy booking and premium reconciliation 

• Perform processing works with data security control execution 

• Manage and resolve all disputes and issues with intermediaries in collection of premiums 

• Propose and establish improvements in processes and controls in AR scope of work 

• Establish SOP for AR scope of work assigned where need be 

• Liaise with Business Development Teams in the management of intermediaries 

• Liaise with IT Technical Team and/ or Policy Management Team to resolve discrepancies in bookings, GST and intermediaries account set up that affects premium collection 

• Ad-Hoc project/ job as assigned by Head of Finance Operations from time to time 

• Supervise and mentor more junior team members. 

Capabilities and Qualifications: 

• Bachelor’s degree in Accountancy and Finance or other related studies such as Business Administration  

• 3 - 8 years of experience in credit control function and with working experience in the insurance industry (insurance company or intermediary). 

• Excellent analytical, problem-solving and communication skills 

• High level of integrity and attention to details  

• Ability to understand, elaborate and convey information clearly and effectively in respect to the audience / level of management (both verbal and in writing) 

• Ability to identify patterns and root causes in complex (e.g. ambiguous, from various sources) data and
  processes to rapidly distill key issues and provide insight and resolution in various situations 

• Ability to handle complex processes (closing, reporting, finance operations) including understanding of data flows 

• Ability to navigate well when presented with an ambiguous and complex situation/ process 

• Versatile with good knowledge and understanding in Finance Operations works and processes