Associate, Financial Planning and Analysis

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.

Key Responsibilities

This role will focus on the VNB and EV reporting, through developing a strong technical actuarial knowledge while gaining hands-on exposure in financial and data analysis. You will gain insights into the actuarial valuation and improve communication skills through working with different stakeholders. The key responsibilities will include:

Actuarial Reporting and Analysis:

1. Prepare and analyse monthly new business (NBEV) reports, including detailed profit margin analysis, tracking of profitability and financial performance.
2. Generate and assess embedded value (EV) reports, including analysis of movements results, tracking movements and explaining results to various stakeholders.
3. Support business planning and projection, prepare and manage Group reporting requirements for NBEV and EV submission.
4. Prepare and analyse the TVOG results, with exposure in ALS model.

Financial and Process Optimisation:

1. Provide in-depth analysis of financial data, identify opportunities for efficiency gains and leverage cutting-edge methodologies to elevate company’s value assessment.
2. Participate in streamlining, refining and optimising the reporting process.
3. Recommend actions based on financial analysis to help achieve company’s objectives and strategies.

Stakeholder Management:

1. Collaborate with key stakeholders to deliver valuable insights on the impact of business initiatives on EV and NBEV.
2. Address stakeholder queries and provide explanations as needed through effective communication.

Accuracy and Documentation:

1. Ensure all profit reporting deliverables are accurate, well-documented, and compliant with Group requirements.
2. Maintain detailed records and documentation of actuarial analyses and reports.

Requirements

Experience

1. Minimum of 4-6 years of experience in valuation, financial reporting and business planning.
2. Possess experience with variance analysis and forecasting preferred.
3. Excellent communication skills, with the ability to articulate financial insights to diverse stakeholders.
4. Proficiency in tools such as Microsoft Excel, Alteryx, or other data analysis software.

Education

1. Bachelor's degree in Actuarial Science.
2. Good progress in Actuarial papers.