PAYOUT MANAGER (BUSINESS ANALYST FOR APPLICATION SYSTEMS)

Singapore Deposit Insurance Corporation (SDIC) administers the Deposit Insurance Fund for the protection of insured depositors of full banks and finance companies in Singapore, and the Policy Owners’ Protection Fund for the protection of policy owners of insured policies of direct life and general insurers in Singapore. SDIC is looking for a talented individual to fill the following position:

PAYOUT MANAGER (BUSINESS ANALYST FOR APPLICATION SYSTEMS)

Key Responsibilities:

1. Payout Architecture
   • Work with Head / Deputy Head, Payout in drafting survey questions for banks, finance companies and insurers (“Scheme members”) and perform the necessary follow ups.
   • Provide inputs to Head / Deputy Head, Payout in (i) recommending updates or amendments to policies and rules; (ii) amending rules / technical annexes / appendices; and (iii) updating the operating procedures manual.
   • Liaise with Scheme members on the amendments to the rules and its technical annexes / appendices.
2. Application Development / Maintenance
   • Work with Head / Deputy Head, Payout in designing a logical and efficient flow of processes and data for the application systems, and streamlining the business operation processes.
   • Review impact analysis and effort estimate from IT application vendor, and provide inputs to Head / Deputy Head, Payout.
   • Collaborate with IT application vendor in software development life cycle activities such as business requirements, functional specifications, user acceptance tests (UAT) till the implementation of the system changes.
   • Prepare test data and test scripts for UAT, execute the testing, report issues noted to the vendor and conduct re-testing on the fixes.
   • Liaise with payout agents to conduct testing when required.
   • Co-ordinate and support the application review conducted by third parties.
3. Co-ordinate with Scheme members in conducting annual Data Submission Exercise (DSE) and UAT to test the compliance level of Scheme members with SDIC’s compensation payout preparedness requirements.
4. Co-ordinate with Scheme members in submission of independent assurance reports and compile the findings noted into a summary report.
5. Participate in the preparation and execution of Biennial Simulation Exercise to test the effectiveness of payout processes and procedures of SDIC in a simulated payout event.
6. Support for PPF communications
   • Assist in testing of PPF functions of the payout communications interface system.
   • Communicate with PPF Scheme members relating to disclosure and public education requirements and handle queries from PPF Scheme members.

Requirements:

• Degree in Computer Science / Business or equivalent.
• At least 4 to 5 years’ experience as a business analyst or functional lead for IT application systems.
• Related IT application development experience in the banking or insurance industry.
• Good analytical skills.
• Strong communication skills with ability to listen and empathise.
• Well organised in work approach.