New Business Administration Manager

3 days ago

Singapore INNOVATIVE CONSULTING PTE. LTD. Full time
Roles & Responsibilities

We are currently looking for passionate Manager for New Business Processing and Admin to join our team.

PRIMARY RESPONSIBILITIES:

1. New Business Processing and Admin Team management

a) Team Oversight: Oversee the processing and admin team. The primary function of these teams is to ensure that new business applications are processed timely and accurately, from submission to policy document issuance and as well as the reinstatement process for integrated shield products.

b) Leadership Development: Groom Team Leads to manage their respective teams effectively; ensure that processes and controls in their respective areas are compliant with guidelines and regulations; monitor day-to-day business activities ensuring effectiveness and efficiency; and planning of resources.

c) Staff Development: Upskill and cross-skill team members to support their personal development and ensure they remain relevant to business needs.

d) Improve Efficiency & Enhance Customer Experience: Conduct regular process improvement reviews to automate manual processes, bridging process gaps, reduce touchpoints and redundant steps, and streamline practices across the various lines of business. Ensure that up-to date SOPs, practices, and protocols are updated into the Operational Guidelines and Work Instructions.

e) Audit Oversight: Oversee audit requests on new business application and Integrated Shield products application processes by external/internal auditors and/or Compliance, ensuring timely and accurate responses and implementation of any recommendations.

2. Lead for CRS & FATCA Activities

a) Regulatory Returns Preparation & Submission: Lead the preparation of regulatory returns, plan action items and timelines to meet the annual regulatory deadline in May every year; guide the team in generating, verifying and adjusting data; coordinate with IT for issue resolution; obtain necessary approvals for submission to the regulator; handle certification submissions to Compliance.

b) System Enhancements: Collaborate with IT for system enhancements to ensure data output meets regulatory guidelines; conduct continuous review/refinement on the system rules to upkeep with regulatory guidelines; provide consultation to other functions within the Life and Health Operations Department, such as Claims and Policy Servicing, to ensure CRS & FATCA requirements within their respective processes are met.

c) Annual Remediation Exercise: Lead the team in planning and executing annual remediation outreach to customers; work with the data team to obtain and prepare data; brief frontliners on the exercise to prepare for potential customer queries; work with Office Services (OS) Department to execute the communication blast; handle customer feedback and appeals in collaboration with Compliance.

QUALIFICATIONS:


• Degree holder with minimum 5 years in leading a new business process and admin team in Life Insurance company.


• Proven experience in team leadership and development.


• Strong understanding of regulatory compliance, risk management, CRS and FATCA requirements.


• Excellent organizational and communication skills.


• Ability to work collaboratively with various departments and stakeholders.


• Proficiency in data management and understanding of IT system enhancements.


• Preferably with LOMA / Diploma in Life Insurance.


• Leadership and management of new business team in Life Insurance company.


• Risk and compliance proficiency.


• Regulatory knowledge (CRS & FATCA).


• Data analysis and management.


• Effective communication, negotiation and coordination.

Tell employers what skills you have

Negotiation
Remediation
Regulatory Compliance
Customer Experience
Process Improvement
BLAST
Data Management
Leadership Development
Team Leadership
Life Insurance
Team Management
Appeals
Business Process
Personal Development
Staff Development
Audit

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