Associate/Assistant Director, Insurance Department

Monetary Authority of Singapore; Singapore; On-site; SGD 40,000 - 80,000; Full time

Job summary

Join a forward-thinking organization committed to shaping Singapore's economic landscape. As a key player in the financial sector, you will oversee a portfolio of insurance companies, ensuring their financial soundness and adherence to best practices. This role demands strong analytical skills and the ability to thrive in a fast-paced environment, where you will juggle multiple priorities and collaborate with various stakeholders. If you are passionate about making a significant impact in the financial industry and possess a solid foundation in risk management, this opportunity is perfect for you.

Qualifications

• 1+ years in auditing, risk management, or insurance.
• Knowledge of actuarial science and risk analytics is a plus.

Responsibilities

• Monitor financial soundness of insurance companies.
• Involved in regulatory and supervisory policy projects.

Skills

Auditing

Risk Management

Analytical Skills

Interpersonal Skills

Communication Skills

Education

Degree in Finance or related field

Job description

What the role is:

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.

As central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector.

As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education.

MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

Join us now, if you have a genuine interest in making an impact to help shape Singapore’s economic and financial landscape

What you will be working on:

You will be assigned a portfolio of insurance companies and will be responsible for monitoring their financial soundness and good business practices using a risk-based supervisory approach. In supervising these insurance companies, you will be required to understand key financial terms, risk management strategies and their applications to insurance business. Besides supervising a portfolio of insurance companies, you will be also involved in various projects in regulatory and supervisory policy areas.

What we are looking for:

• Relevant experience, preferably with at least 1 year in auditing, risk management or insurance.

• Relevant knowledge relating to the insurance sector such as actuarial science, risk analytics, risk management will be an added advantage.

• Strong analytical abilities and good interpersonal skills.

• Good written and verbal communication skills.

• Ability to work well independently as well as in a team.

• You will be working in a fast-paced environment that would require the ability to manage multiple priorities and needs of stakeholders, as well as the agility to respond to changes and developments.

As part of the shortlisting process for this role, you may be required to complete a medical declaration and/or undergo further assessment.

All applicants will be notified on whether they are shortlisted or not within 4 weeks of the closing date of this job posting.

About Monetary Authority of Singapore

MAS is the central bank of Singapore. Our mission is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre.