Finance Operations Specialist

PRUDENTIAL ASSURANCE COMPANY SINGAPORE (PTE) LIMITED; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A leading financial services provider in Singapore is seeking a Finance Operations Specialist to manage disbursement processes and support the month-end close. The ideal candidate should have a background in the insurance industry, proficiency in financial systems, and strong analytical skills to enhance operational efficiency. This role demands high accuracy and the ability to collaborate effectively with cross-functional teams under tight deadlines.

Qualifications

• Background in the insurance industry with understanding of insurance accounting.
• Experience in payment processing and reconciliations in a high-volume environment.
• Proficiency in financial systems, preferably Oracle Fusion.

Responsibilities

• Oversee daily cash flow management and liaise with banks.
• Manage month-end closing activities including provisions and reconciliations.
• Identify process gaps and recommend improvements.

Skills

Analytical skills

Problem-solving skills

Strong communication skills

Attention to detail

Motivation and delivery focus

Tools

Oracle Fusion

Job description

The Finance Operations Specialist is a key member of the Treasury & Disbursement team, responsible for the end-to end disbursement process of Insurance, commission and expense payout, month-end close, reconciliation and analysis activities. Beyond execution, the role provides control enhancement and system improvements. The Senior Executive manage high transaction volume under tight deadlines while ensuring operational accuracy, efficiency, and compliance with statutory, regulatory, and internal policy requirements. Reporting to the Lead, Finance Operations, the role takes greater ownership of end-to end process, and proactively collaborate with cross-functional stakeholders to resolve issues and drive continuous improvements.

Key Responsibilities

• Oversee the daily cash flow management including liaison with banks and investment counterparty.
• Support the daily payments for insurance-related payout, distribution compensation, investment bank transfers and expense payments, ensuring accuracy, timeliness and compliance.
• Handle and take ownership of complex reconciliation (eg: bank reconciliation, balance sheet, interfund), investigating and resolving variance independently.
• Manage month-end closing activities, including provisions, accruals, (e.g., Premium, Claims, NBP), fixed asset accounting, and expense allocations.
• Act as the first point of escalation for internal customer enquiries on system/reporting issues, coordinating resolution with relevant teams.
• Review and recommend enhancement to payment, reconciliation and closing process, strengthening controls and streamlining workflows.
• Support system upgrades, UAT and procurement.
• Maintenance of insurance Admin system sub ledger chart of accounts.
• Support the month end closing activities relating to insurance and reinsurance business.
• Support in preparing/reviewing of all monthly schedules as follows but are not limited to:
  • Balance sheet reconciliation
  • Suspense Management
  • Bank Reconciliation
  • Any other ad-hoc schedule or Analysis
• Identify process gaps and inefficiencies, recommending and implementing improvements to strengthen controls and streamline workflows.
• Management of periodic exercise:
• Liaison with Internal/External Auditor
• Review SOX documentation
• Review of SOPs/SLAs
• Participate in BCP, ITDR
• GL rollover exercise on a yearly basis
• Update of various register eg Risk, Incident, User Developed Applications

Who We Are Looking For

• Background in the insurance industry with a strong understanding of insurance accounting.
• Experience in payment processing, reconciliations, and month-end closing in a high-volume environment.
• Strong analytical and problem-solving skills, with a focus on accuracy and process improvement.
• High personal levels of motivation and delivery oriented focus.
• Proficiency in financial systems (Oracle Fusion experience preferred).
• Ability to work under pressure in a fast-paced environment and meet tight deadlines.
• Excellent interpersonal and communication skills for effective cross-functional collaboration.
• Self-motivated, detail-oriented, and committed to delivering high-quality outputs.