Associate, Financial Reporting and Controls

2 weeks ago


Singapore Singapore Life Ltd. Full time
4 Shenton Way, SGX Center 2, Singapore, Singapore, Singapore

  • Department
  • Finance
  • Internal Control
  • Job posted on
  • Jul 30, 2023
  • Employment type
  • Permanent
  • Full Time Singlife is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technologyenabled 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 solutions through its dollarDEX and Navigator platforms.


The mobile-first Singlife Account - with a Singlife Debit Card - allows customers to save, spend, earn and be insured all in one app.

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, affirming its commitment to finding a better way to sustainability.

First announced in September 2020 and valued at S$3.2 billion, the merger of Aviva Singapore and Singlife was the largest insurance deal in Singapore then and created one of the largest homegrown financial services companies in the republic.


Purpose of the role

  • This role will be reporting directly to Executive Director, Finance Change and IFRS17 Implementation. This role is responsible for supporting the Company's compliance with Financial Reporting Controls Framework (FRCF).

Key Responsibilities

  • Responsible for conducting an independent and objective assessment on the adequacy and effectiveness of system of controls, in relation to the following:
  • To ascertain the integrity and reliability of statutory financial statements prepared in accordance with Singapore Financial Reporting Standards ("SFRSs")
o To ascertain robustness and effectiveness of the system of controls relating to preparation of statutory financial statements in accordance with Singapore Financial Reporting Standards ("SFRSs")

  • Work with Process Owners to design efficient and effective controls documentation standards, ensuring that controls have been documented in a consistent manner across all processes
  • Perform design assessment and walkthroughs of controls for all FRCF processes to ensure control designs are adequate
  • Perform operating effectiveness testing of controls for all FRCF processes to ensure controls are operating effectively
  • Identify deficiencies and work with process owners to ensure action plans are put in place to remediate deficiencies
  • Provide recommendations to address identified issues and control weaknesses
  • Monitor and track closure of remediation for deficiencies
  • Assist Process Owners to build/update/maintain all FRCF process flowcharts and narratives
  • Manage and handle all audit requests pertaining to FRCF, if any
  • Obtain annual FRCF certifications from process owners
  • Participate in adhoc control improvement initiatives/ projects/ special review requested by management
  • Control coach for the Finance, Actuarial, Procurement and Outsourcing and Legal Team

Requirements:

  • Knowledge/Experience
  • Knowledge of risk and internal control concepts
  • Knowledge of Financial Services market and regulatory framework
  • Experience in accounting functions/ audit/ SOX
  • Strong communication and influencing skills and an ability to build relationships at all levels
  • Positive attitude towards change and continuous improvement
  • Knowledge of Microsoft Visio Professional is a plus

Education

  • Academic: Bachelor Degree in Accountancy/ Business/ Finance (preferred)
  • Diploma in Risk Management
  • Professional Certification(s): ISCA, CPA, ACCA (preferred)

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