Senior Manager/Manager, Finance Transformation (3 Years Contract)

MSIG ASIA PTE. LTD.; Singapore; On-site; SGD 80,000 - 100,000; Full time

Job summary

A leading general insurer in Singapore is seeking a finance professional for core system implementation. This role requires extensive experience in defining finance requirements, ensuring compliance with FRS standards, and leading cross-functional workshops. The ideal candidate will have a bachelor's degree in accounting or finance, a professional qualification, and at least 8-10 years of experience in the insurance or financial services sector. Strong analytical and communication skills are essential.

Qualifications

• At least 8-10 years of progressive finance experience, with significant exposure in insurance or financial services.
• Deep working knowledge of FRS 117 and familiarity with other FRS standards impacting insurance entities.
• Working experience in general insurance or accounting firm.

Responsibilities

• Define and validate accounting and finance requirements for the new core general insurance system.
• Ensure the system supports local reporting requirements: FRS 117 and other relevant FRSs.
• Design and document end-to-end data flows from operational systems to sub-ledger and general ledger.
• Develop and execute test plans for finance-related system features.
• Act as the finance SME for all accounting-related configurations during system implementation.

Skills

Analytical skills

Problem-solving skills

Communication skills

Documentation skills

Education

Bachelor's degree in Accounting, Finance, or related field

Professional accounting qualification (CA, CPA, ACCA, or equivalent)

Job description

About Us

A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.

A testament to its growing strength and influence, MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer‑centric solutions. In 2023, 2022 and 2020, MSIG Singapore was awarded Insurance Asia Awards' Claims Initiative of the Year.

MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group - one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non‑life insurance groups in the world based on gross revenue.

Job Description

• Finance & Accounting Requirements for Core System
  • Define and validate accounting and finance requirements for the new core general insurance system, covering:
    • Chart of accounts and financial reporting structures
    • Sub‑ledger setup and ledger integration
    • Accounting rules for premium income, claims, reinsurance, and reserves
    • Posting logic for technical reserves and deferred acquisition costs
• FRS 117 (IFRS 17) & MAS Regulatory Reporting
  • Ensure the system supports local reporting requirement: FRS 117 and other relevant FRSs
  • Ensure system compliance with FRS 117 for general insurance contracts, including:
    • Implementation of Premium Allocation Approach (PAA) logic
    • Support for discounting, and risk adjustment
  • Translate FRS 117 measurement models into accounting entries and ensure appropriate data flows to the ledger.
  • Ensure system readiness for local regulatory reporting, including MAS Returns and IRAS Corporate Tax filing.
  • Work with Actuarial teams to ensure actuarial data is appropriately consumed and transformed into finance outputs.
• Data, Integration, and Process Design
  • Design and document end‑to‑end data flows from operational systems to sub‑ledger and general ledger.
  • Define data transformation rules and ensure finance master data is structured for scalability and compliance.
  • Partner with IT and Data teams to validate system architecture for data integrity, traceability, and audit readiness.
  • Collaborate with controls and compliance teams to embed governance, validations, and approvals into system workflows.
• Testing & Implementation
  • Develop and execute test plans for finance‑related system features.
  • Validate accounting outputs, financial disclosures, and ledger postings.
  • Support parallel runs and dry‑runs comparing new system outputs with legacy reporting.
  • Document test results, issues, and remediation actions.
• Change Management & Stakeholder Engagement
  • Act as the finance SME for all accounting‑related configurations during the core system implementation.
  • Support training and handover to Finance Operations teams.
  • Facilitate cross‑functional workshops and discussions across Finance, Actuarial, IT, and Risk.

Qualifications

• Bachelor's degree in Accounting, Finance, or related field.
• Professional accounting qualification (CA, CPA, ACCA, or equivalent).
• At least 8-10 years of progressive finance experience, with significant exposure in insurance or financial services.

Other Information

• Working experience in general insurance or accounting firm
• Experience working on core system implementations, particularly in defining finance and accounting requirements strongly preferred.
• Deep working knowledge of FRS 117, and familiarity with other FRS standards impacting insurance entities (FRS 109, FRS 16, etc.).
• Strong grasp of accounting policy, regulatory reporting, and general insurance financial workflows.
• Ability to translate accounting standards into system functional designs and validate configuration outcomes.
• Strong analytical and problem‑solving skills.
• Excellent verbal and written communication for collaboration with business and technical stakeholders.
• Strong documentation skills – ability to produce business requirements, process maps, data flow diagrams, and test scripts.