Assistant Vice President, Investment Accounting and Reporting

Singapore, Singapore, Singapore
- Department
- Investment Accounting and Cash Management
- Job posted on
- Dec 26, 2024
- Employment type
- Permanent - Full Time

Singlife is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled 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 and advisory solutions through its GROW with Singlife platform. It also offers the Singlife Account, a mobile-first insurance savings plan.

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 and the United Nations-supported Principles for Responsible Investment, affirming its commitment to finding a better way to sustainability.

The merger of Aviva Singapore and Singlife was announced in September 2020 and created one of the largest homegrown financial services companies in Singapore in a deal valued at S$3.2 billion. It was the largest insurance deal in Singapore at the time. Singlife was subsequently acquired by Sumitomo Life in March 2024, one of Japan’s leading life insurers, which valued Singlife at S$4.6 billion, making the transaction one of the largest insurance deals in Southeast Asia.

**Responsibilities**:
Financial Closing of Singapore Life Ltd and Singapore Life Holdings Pte Ltd
- In charge and ensure timely and accuracy in the financial closing of Singapore Life Ltd and Singapore Life Holdings Pte Ltd by reviewing the investment entries prepared by outsourced fund service provider, month end investment accruals and other manual investment entries prepared by Analyst/Associate. He/She is fully accountable in solving all sub-ledger discrepancies, matching and reconciling the ILP assets and policy liabilities or unusual movements relating to investments within an assigned timeline through analytical review and reconciliation.

Review of Audit Investment Schedules and Investment Reconciliations
- The role holder will review all audit schedules and investment reconciliations prepared by Analyst/Associate. He/She ensures reconciling items are properly explained, follow-up and closed with a reasonable timeline.

Reporting
- The role holder will be put in charge all statutory, regulatory (MAS 122, MAS 129, MAS 133, MAS 307), and Sumitomo reporting relating to investments. Frequency ranges from monthly to annually.

Investment expenses reasonableness check
- The role holder will perform investment expenses reasonableness check for all outsourced engagements.

Documentation of key process and controls
- Assist in updating process and controls on adhoc basis by actively looking for improvement in workflow with a view of eliminating control weakness whilst improving efficiency and maintaining accuracy.

Audit
- Play the key leader in investments for Sumitomo audit, year end audit and ILP audit.

Perform material outsourcing exercise and attend monthly service review meetings

Prepare valuation materials
- Assess impairment of investment assets and document the accounting treatment for new investment activities.

Adhoc tasks
- To participate in ad-hoc projects as and when assigned.

**Experience**
- Excellent problem solving skills
- Highly motivated with ability to work independently and sometimes in a non structured environment
- Ability to come up with “out of the box” solutions that can be presented in a structured and precise manner
- Attention to details
- Excellent communication skills, both written and verbal
- Good working knowledge of AS400, and Oracle
- Strong knowledge in MAS 122, MAS 129, MAS 133, MAS 307 and Singapore Financial Reporting Standards
- Versatile and resourceful to resolve issues
- Experience in process documentation
- At least 5 years investment accounting experience and 1 year supervision experience

**Education**
- Academic: Bachelor’s degree in accounting (mandatory)
- Professional Certification(s): CA (preferred)
- Complete Fit & Proper assessments successfully on an annual basis at minimum, or when other adjunct appointments are made.