Regulatory and Statutory Reporting Accountant

HDI GLOBAL SE SINGAPORE; Singapore; On-site; SGD 60,000 - 80,000; Full time

Job summary

A leading insurance company in Singapore is looking for a Financial Accountant to manage all aspects related to financial accounting. Key responsibilities include GL maintenance, statutory reporting, and ensuring compliance with local regulations. The ideal candidate will have a minimum of 5 years of finance experience, preferably in the insurance sector, along with relevant qualifications. Opportunities for training and personal contribution are provided, promoting a collaborative working environment.

Benefits

Modern working environment

Opportunities for personal contribution

Qualifications

• Minimum of 5 years of finance experience, preferably in insurance related industry.
• Relevant accounting or finance professional qualifications.

Responsibilities

• Manage financial accounting areas including GL maintenance and statutory reporting.
• Prepare Singapore financial accounts and statutory reports.
• Ensure reporting deadlines are met by local regulators and management.
• Support the finance functions during year-end audit review.

Skills

Finance experience

Accounting

Compliance

Risk management

Education

Relevant Accounting/Finance professional qualification

Job description

As part of the Talanx Group, HDI Global SE Singapore has been one of the leading insurers offering a broad and needs-based range of insurance solutions and accompanying services for decades. HDI operates through foreign branches, subsidiaries, and affiliates as well as network partners in more than 150 countries.

We offer our employees all the advantages of an international company by providing an exceptional, modern working environment that constantly challenges and rewards. We promote high levels of internal and external communication and concentrate on achieving our goals through teamwork. We offer you the opportunity to contribute your own ideas and actively become involved in shaping the future of our company. Reporting Responsibility to the Chief Financial Officer (CFO) of Singapore Branch

Overview of Duties

Responsible for management of all areas related to Financial Accounting including GL maintenance and statutory reporting.

Job Description

1. Technical Accounting

• Reconciliation of accounting and underwriting data from GERAS to the finance systems (CODA) at month end process.
• Monitor exception report and review timeliness of general entries.
• Liaise with Policy Operations for pipeline (unclosed) business estimates.
• Review the currency revaluation at month end.
• Assist to implement Accounting Process Manual (Coda and internal controls) for adherence to proper documentation and approval process for Labuan and Singapore.
• Training of new staff on month end closing process.
• Preparation of IBNR estimates for quarterly GERAS closing for all lines of business.

2. Accounting System

• Ongoing overview of GERAS and CODA Databases and requirement with HG-I IT.
• Reconciliation of Balance Sheet accounts and technical data between Underwriting and Accounting System GL.
• Prepare and maintenance of Investments postings on quarterly basis.

3. External Reporting & Local Reporting

• Ensure reporting deadlines set by HG-I, MAS, and local branch management are all met.
• Manage and prepare Singapore financial accounts, statutory reports/ annual Financial Statements to MAS and ACRA.
• Prepare Singapore quarterly and annual regulatory returns to MAS.
• Preparation of Singapore Reporting packages to HG-I.
• Assist FC with the preparation of Singapore branch's local Management reporting on quarterly/ yearly basis.
• Assist FC with the preparation of Singapore MIS for the Branch to assess its business performance and operating results
• Prepare standard or ad-hoc analysis on the performance of the branch.
• Prepare evaluation and improvements required.
• Assist in monitoring the Solvency Margin to be maintained at adequate levels at all times.
• Preparation of Corporate Tax returns for local statutory quarterly and annual reporting and filing.
• Preparation of annual Singapore branch Tax Questionnaire and Annual Tax computation for submission to HG-I.
• Support the finance functions to prepare information required and explanations to the Auditor and Tax Advisor during year-end audit review.
• Ensure annual audit process is carried out smoothly and timely so that Annual returns and financial statements can be finalized and submitted to authorities before the deadlines.
• Implement rectification of issues raised and recommended by the Auditors, to ensure adequate internal controls are in place within Finance Department.

4. Compliance and Risk Management

• Support the FC to implement sound governance and risk management framework, to adhere with local regulator and HG-I
• Support the FC to implement sound compliance framework, to adhere with local regulator and HG-I.
• Support the FC with preparation of quarterly Performance, Compliance and Risk Management meeting papers.

Key Competencies Requirement

• Minimum of 5 years of Finance experience, preferably in insurance related industry.
• Relevant Accounting/ Finance professional or equivalent qualifications.