Finance Executive

2 weeks ago


Kuala Lumpur, Malaysia AIG Full time

Finance Executive
- Who we are
- American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
- Finance
- Our finance professionals play an essential role in maintaining a healthy balance sheet at AIG. They deliver significant finance support for the overall enterprise, optimizing operations, funding and capital structure to honor our commitments to our stakeholders. They inform the decisions of AIG executives and comply with regulatory requirements, maintaining financial discipline, transparency and controls, while providing timely and meaningful information.
- Within the Finance team, the Treasury and Capital Markets group handles Treasury Department activities and funding the overall capital structure of AIG and investor relations. The Actuarial and Value Management team manages rating agency relations. The Finance Operations team handles controllership activities, including Security & Exchange Commission reporting and tax.
- About the role
- What you need to know:

- Purpose of the role:

- Under the supervision of the Senior Manager of Finance & Accounts, she is responsible for carrying out day-to-day operational and reporting tasks in relation to controllership function accordance with Company policies, procedures, professional standards, best practices and regulatory guidelines for Company.
- Accountabilities for the role:

- Month-end GL closing
- To prepare the monthly schedule, journal, and maintenance for the fixed asset register.
- To perform the monthly reconciliation of machine journals (production - PL & MM and receipting-CM) for both FGen & Stat ledger.
- To prepare the quarterly reporting and monthly journals for Direct Marketing & Telemarketing costs.
- To prepare the monthly payroll and staff loan reconciliations and journals.
- To perform the vendor maintenance of Computron - to create new vendor ID or update vendor detail in AP and AR modules upon request.
- To assist (as backup) with the journal upload function.

Statutory Reporting
- To perform the quarterly assessment report for Personal Accident and Liability class for submission to Bank Negara Malaysia (“BNM”). To assist the PPM department with Motor assessment and the IT department with Fire assessment.
- To prepare the yearly Bancassurance report for submission to BNM.
- To prepare the quarterly Medical and Health Insurance report for submission to ISM Insurance Service Malaysia Berhad (“ISM).
- To prepare the quarterly Gross Premium by Distribution Channel report for submission to ISM.
- To prepare the quarterly Personal Accident report for submission to ISM.
- To compile data and prepare analysis on the E-Payment Progress report for quarterly submission to Persatuan Insuran Am Malaysia (“PIAM”).
- To prepare quarterly and annual reports on contribution to and use of self-managed ePIF Funds for submission to BNM.
- To consolidate the yearly product information from profit centres for submission to PIDM.
- To prepare the hardcopy submission to PIDM on information related to key responsible personnel, external auditors, related party, and financial statements.
- To prepare the yearly Differential Levy System (DLS) and Returns on Calculation of Levies (RCL) reports for submission to PIDM. This includes making payments for the levy accordingly.
- To compile the quarterly foreign transaction data for the Survey of International Trade in Service (ITS Umum) and submit it to the Statistics Department of Malaysia.
- To consolidate the quarterly data for the exposure and claims experience of the Motor and Fire class for submission to BNM.
- To prepare the half-yearly Industry Benchmark Customer Service Indicators (BCSI) report for submission to PIAM.
- To assist the MIS dept in the reconciliation of the Motor and Fire data for submission to ISM.
- To perform the monthly submission of BNM Returns to ISM portal.

SDI & Front-end Reconciliation
- To perform monthly Front-end to SDI Reconciliation - reconcile FLAS, ATLAS and Transact (Front-End systems) that interfaces through GoalD.
- To perform monthly SDI reconciliation - reconcile production numbers (premium, commission, claims paid & claim OSLR) posted into the Back-End system (Computron) against the Phase II report generated from SDI.

Regulatory Reporting
- To assist in the new enhanced BNM reporting for MFRS 4 and 17 of on a quarterly basis.
- To assist in the implementation of the IFRS 17 project including but not limited to data mapping and system enhancement.
- To assist in various projects that involve Finance participation such as system enhancement



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