Associate - Premium & Payment Services

Great Eastern; Kuala Lumpur; On-site; MYR 40,000 - 67,000; Full time

Job summary

Great Eastern in Malaysia seeks a detail‑oriented operations professional to manage billing, collection and policy payout processes. You will update premium collections across channels, reconcile daily and periodic records, and process arrangements including GIRO and credit card payments.

Collaborate with Finance, Bancassurance and other teams, address policyholder inquiries with a service mindset, and uphold regulatory compliance while mitigating risks.

Qualifications

• Diploma or University Degree.
• Preferably 1 to 2 years of experience in insurance or financial services operations.
• Team player with a positive attitude and eagerness to learn.
• Ability to process requests timely and accurately.
• Good communication and interpersonal skills with a customer-centric mindset.
• Good time management skills with the ability to prioritise tasks effectively.
• Analytical, detail-oriented and meticulous in work execution.
• High level of integrity, accountability and ownership in work.

Responsibilities

• Update premium collections across multiple collection channels and ensure accurate daily and periodic reconciliation and balancing.
• Process applications for GIRO/credit card premium payment arrangements, as well as policy surrenders, terminations, policy loans, and preferred settlement options.
• Execute payouts for cash benefit, dividends, maturity, annuity and suspense in accordance with established procedures and controls.
• Review operational reports and follow up on discrepancies.
• Address enquiries from policyholders, financial representatives and internal stakeholders in a timely and professional manner.
• Work with internal stakeholders, including Finance, Bancassurance, New Business and external partners to address issues and ensure timely resolution of concerns raised.
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies to understand the risk and safeguard the company.
• Highlights any potential concerns /risks and proactively shares best risk management practices.

Skills

Communication skills

Customer service

Analytical thinking

Detail orientation

Time management

Team player

Education

Diploma or University Degree

Job description

To ensure accurate, timely, and compliant processing of billing, collection and policy payout transactions, in accordance with stipulated service standards, internal controls, and regulatory requirements, while providing effective operational support to stakeholders.

The Job

• Update premium collections across multiple collection channels and ensure accurate daily and periodic reconciliation and balancing.
• Process applications for GIRO/credit card premium payment arrangements, as well as policy surrenders, terminations, policy loans, and preferred settlement options.
• Execute payouts for cash benefit, dividends, maturity, annuity and suspense in accordance with established procedures and controls. Review operational reports and follow up on discrepancies.
• Address enquiries from policyholders, financial representatives and internal stakeholders in a timely and professional manner.
• Work with internal stakeholders, including Finance, Bancassurance, New Business and external partners (e.g. OCBC) to address issues and ensure timely resolution of concerns raised.
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns /risks and proactively shares best risk management practices.
• Diploma or University Degree
• Preferably 1 to 2 years of experience in insurance or financial services operations
• Team player with a positive attitude and eagerness to learn
• Ability to process requests timely and accurately
• Good communication and interpersonal skills with a customer-centric mindset
• Good time management skills with the ability to prioritise tasks effectively
• Analytical, detail-oriented and meticulous in work execution
• High level of integrity, accountability and ownership in work
• Champion and embody our Core Values in everyday tasks and interactions.
• Demonstrate high level of integrity and accountability.
• Take initiative to drive improvements and embrace change.
• Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
• Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.

Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei. The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of "AA-" by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia. Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.