Assistant Manager, Group Finance

About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

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FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was established in late 2019. Strategically located in Kuala Lumpur, FWD TIM serves as a pivotal shared service location within FWD Group, providing services to multiple markets across the Group. FWD TIM houses a diverse and talented workforce focused on essential business and technology services such as information security, cloud operations, IT solutions delivery, digital and data, actuarial, finance, investments, and customer service, among many others. FWD TIM is dedicated to drive and deliver operational excellence and efficiency, foster innovation and ensure regulatory compliance across all business functions as well as maintain a competitive edge in the market.

PURPOSE
- Assist Manager in managing full finance-related functions for FWD Reinsurance Ltd which includes communicating effectively with internal and external stakeholders on routine business operational tasks.
- Liaise with reinsurers and internal teams (Actuarial, ICOE) to manage reinsurance and investment accounting activities
- Ensure compliance with accounting standards and financial policies, provide accurate and timely financial reports
- Coach junior team members, supervise routine operations, and ensure timely deliverables from the team

KEY ACCOUNTAIBILITIES

Period end closing coordination
- Prepare timetable for various parties’ coordination
- Coordinate with various parties (e.g. LBUs and ICOE) for deliverable / information required to be received on timely basis
- Prepare journal entries and book into GL to produce accurate trial balance, balance sheet and income statement
- Reconcile accounts, resolve discrepancies, review journals entries and ensure accuracy of general ledger balances

Finance processes and accounting
- Coordinate and ensure Reinsurance quarterly settlement processes with various parties (e.g. Japan BU) are in line with FWD Standards, framework and regulatory requirements
- Liaise with account manager in Cayman regarding all receipts and payment matters
- Liaise with ICOE (FWD GO function) for Clearwater lock in order to obtain investment fund accounting entries for month-end closing
- Review external regulatory submissions to ensure information aligned with management accounts

Reporting
- Prepare GO reporting on the monthly and quarterly basis according to Group Finance requirements
- Assist in preparation of OPEX Forecast
- Prepare and analyse monthly management account and balance sheet reconciliation
- Report all activities to the line manager and escalate important issues when necessary.

Audit and financial statement
- Liaise with external auditor, tax consultants and regulatory bodies to ensure compliance tax regulations, audits and internal controls related to reinsurance finance
- Assist in coordination for annual audit for various parties (e.g. GO actuarial, Japan Finance, Japan Actuarial, Cayman insurance manager)
- Prepare draft financial statements
- Prepare CAP to external auditors

Projects and Ad hoc duties
- Support in other ad hoc projects for FWD Reinsurance i.e. Oracle Workiva, Oracle AP Module
- Roll out to other teams for support where applicable

Process Improvement
- Support improvement to financial processes, systems and reporting tools
- Perform UAT for IFRS 17 and MFRS 9 system enhancement
- Support automation of repetitive tasks to increase efficiency and reduce error

KEY PERFORMANCE INDICATORS
- Accuracy of accounting, reporting
- Timeliness of submission to meet deadline
- Team Work
- Work Integrity
- Proactivity

EXTERNAL & INTERNAL CONTACTS
- Local Business Units (BU) Finance
- Group Office Finance & Investment
- AON or Cayman Insurance Manager
- Clearwater
- Group Office Actuarial & BU Actuarial (Japan)
- ICOE - Investment Operations, Accounting
- Regulatory bodies

DECISION MAKING

In accordance with delegated authority

QUALIFICATIONS / EXPERIENCE
- Degree in Accountancy or equivalent
- Minimum 3 to 4 years of relevant working experience with hands-on exposure in reporting
- Familiar with computerized accounting system will be an added advantage
- Exposure in relevant experience (MFRS 9, IFRS 17 and other insurance related) would be an added advantage.

KNOWLEDGE & TECHNICAL SKILLS
- Work Experience in Oracle
- Experience with accounting software and implementation rollout will be an advantage
- Proficiency in MS Excel at intermediate or advance level
- Must be initiative, independent and hard working
- Proficient in writ