Finance Operations Officer

Entity: Allianz Insurance Singapore
Within a span of just four years, Allianz Insurance Singapore (AIS) has emerged as the fastest-growing General Insurance company, achieving an unprecedented level of success. Since its inception in Singapore, AIS has consistently doubled its revenue year on year, a testament to its unwavering dedication to excellence. AIS takes great pride in being certified as a Great Place to Work, a reflection of our commitment to fostering a thriving and employee-driven business culture.

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. 

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.

Key Responsibility:

• Manage settlement for premiums, commissions, credit control and daily finance operation processing on intermediaries for Agency portfolio
• 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
• Guide Team members on Finance policies and processes and handle escalated matters as 1st point of escalation

Qualifications and Skills:

• Tertiary Education in Accountancy and Finance or other related studies such as Business Administration 
• Minimum at least 3 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
• AI-Skills e.g. ChatGPT and Microsoft CoPilot an advantage

96375 | Finance & Accounting | Professional | Non-Executive | Allianz Singapore | Full-Time | Permanent

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer.
 
We are united by a shared commitment: to put our customers first and at the centre of everything we do. Their needs inspire our thinking and guide our actions.
 
Together, we can build an environment where everyone feels empowered and confident to explore,  grow and to shape a better future – for our customers and for the world around us.
 
At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. The foundation for this is our inclusive workplace, where people and performance both matter, and where integrity, fairness, inclusion and trust are at the heart of our culture.
 
We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.
 
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