Financial Operations Team Lead - Insurance

RecruitFirst Pte. Ltd; Singapore; On-site; SGD 60,000 - 85,000; Full time

Job summary

A leading company in Singapore is looking for an experienced Finance Operations Manager to oversee payment operations and financial processes. This role involves managing a team, ensuring the accuracy of financial records, and leading initiatives to streamline operations. Candidates should possess strong leadership skills and a degree in finance or business, along with at least 5 years of relevant experience.

Qualifications

• Minimum 5 years of experience in financial operations.
• Proven track record in leading a team of at least 5 members.
• Strong analytical and detail-oriented mindset.

Responsibilities

• Oversee payment operations for trade and non-trade payments.
• Review bank reconciliation statements and ensure alignment with the general ledger.
• Manage debtor and cashbook systems, including month-end closing.

Skills

Leadership

Communication

Analytical Skills

Problem-Solving

Education

Degree in Business, Finance, or related discipline

Job description

Responsibilities:

• Responsible for the overall smooth running of payment operations for trade and non-trade payments

• Allocate work to staff and monitor the quality and quantity of their output

• Review bank reconciliation statements and ensure alignment with the general ledger for investment accounts and cashbook

• Oversee the company’s credit control process, including sending statements of accounts, processing commission payments, and ensuring prompt settlement with reinsurers

• Follow up with reinsurance companies on reconciliations completed by clerical staff

• Handle the annual e-submission of commission to IRAS

• Prepare and submit quarterly GST returns

• Arrange collection of drafts, letters, and cheques for director’s signature

• Manage Debtor and Cash Book systems, including month-end closing, report printing, and transaction matching

• Upload financial data such as debtors, Outward Treaty, and Unexpired Premium Reserve from Odyssey to SUNGL system

• Update payment mandates, board resolutions, and electronic banking facilities

• Monitor daily cash flow and place excess funds in fixed deposit accounts

• Liaise with banks on fixed deposit renewals or cancellations, and verify related transactions

• Assist in finance-related projects and system/process enhancements

• Perform other duties assigned by the Head of Department to support overall corporate objectives

Requirements:

• Degree in Business, Finance, or related discipline

• Minimum 5 years of experience in financial operations, preferably in the insurance or financial services sector

• Proven track record in leading a team of at least 5 members

• Experienced in change management and streamlining financial processes

• Excellent command of written and spoken English

• Strong communication and interpersonal skills

• High attention to detail and strong analytical and problem-solving skills

• Singaporean only