China Life Insurance Company Singapore (CLIS) aims to cultivate a strong sense of belonging among all employees through a people-oriented corporate culture.
Position Objective:
- Overseeing and coordinating the reporting process to ensure accurate and timely reporting of company’s MAS, financial reporting under IFRS 17 and IFRS 4, submission of corporate tax, assist in budget management
Job Description:
- Perform quality assurance and submit of MAS regulatory reports (i.e. MAS 129, 122 and I&E), surveys and statistics accurately and on time. Investigate and draft reply for enquires raised by MAS.
- Responsible for daily, monthly and annual closing activities. Mainly review on journal entries for investment activities and policy liability, perform monthly expenses allocation and yearly true-up adjustment to ensure comply with MAS320.
- Lead reporting team in preparation of financial reporting under IFRS 17 and BAU activities, covering maintenance of IFRS 17 GL, reconciliation of IFRS 17 and IFRS 4, work closely with actuarial department and IT team to ensure ACF and ECF are accurately reflected in SAP within deadline, analysis operating results.
- Conduct accounts analysis regularly to ensure accuracy of books, investigate and correct errors and inconsistencies in entries, documents and reports.
- Instruct accounting staff in dealing with trade entries, investment fee accrual, cash and month-end reconciliation and resolve report issues with Custodian bank.
- Oversee such risk management as liquidity risk, PA/PL monitoring, ALM and ORSA reports. Investigate and report to the Head any improprieties.
- Play crucial role in preparation of annual statutory accounts and corporate tax schedules. Ensure filing to ACRA and IRAS are timely and accurate.
- Collaborate with other functional areas to ensure reporting integrity and accuracy for our General Ledger.
- Liaison with the auditors to prepare the financial statements to ensure a smooth and successful annual audit.
- Assist in budget management and other reporting requests from HK head office.
- Play a key role in updating and developing SOP or a new financial reporting framework in relation to investment accounting, financial reporting and risk management.
- Provide training and support to accounting staff on key accounting tasks/deliverables.
- Provide ad hoc financial reports, tables and exhibits as requested.
Job Requirements:
- Bachelor’s Degree or higher in Accountancy, Finance. CPA/ACCA member is preferred.
- Minimum 5 years relevant experience in insurance industry
- At least one year full cycle experience in IFRS17
- Familiar with MAS regulations i.e. MAS133, MAS320
- Knowledge of investment accounting is a plus
- Knowledge of SAP ECC FI/CO system preferred
- Advanced Microsoft Excel skills (advanced formulas and functions)
- Fluent in both spoken and written English and Chinese
