Purpose of job:
To support the Finance Operations team on operational processes and any other ad-hoc duties as assigned.
Main Responsibilities:
1)Claim Payments
-Daily basis
-Pick up daily claim payment reports generate by BI team and run the RPA (robotic process automation) process.
-Use daily claim payment reports to process claim pay-outs (Cheques/ Giro/ PayNow/ Bank transfer) within the service level agreement timelines.
2)Premium Refunds
-Daily basis.
-Retrieve refund requests submitted by Customer Care team on the previous working day.
-Process the refund requests (Cheques/ Giro/ PayNow/ Bank transfer).
-Processing clawback vouchers and related journals.
3)Claim Recoveries
-To process and issue Claim Recovery Receipts in policy admin system (IDIT) for the collections received for Claim Recoveries.
4)Bank Reconciliation
-Daily Reconciliation of Citibank #008 for claims payments, premium refunds and claim recoveries.
-Monthly Bank Reconciliation of other operational/investment bank accounts.
-Reconcile claim payments, premium refunds, claim recoveries transacted in IDIT to GL.
5)Others
-Prepare the IRAS S45 withholding tax form for overseas claims payments and journal.
-Prepare month end related journals to claims, premium refund, clawback vouchers transactions, transfer pricing journals and invoices.
-Prepare monthly balance sheet schedule and quarterly Hiscox BMA reporting.
-Daily maintenance of the Finance/Refund mailbox.
- Maintain up-to-date processes, workflows, and SOPs, ensuring adherence with processes and controls.
- Support year-end financial audit schedules and any other ad hoc duties as assigned.
Skills and Knowledge
•Strong knowledge on accounting principles.
•Competent with advance Excel (MS Office).
•Good interpersonal and communication skills, collaborative mindset is a must.
