Discover the GREAT in your career.
As a LIFE company, our customers are at the heart of all that we do. Being one of Asia's leading insurer for over a century, we have built a long-lasting legacy of trust with our customers over many generations. At the foundation of this trust is Integrity, Initiative, and Involvement from the way we treat every customer relationship with honesty and transparency, to our proactive approach of delivering the best possible solutions in both life and general insurance.
Integrity, Initiative, and Involvement is what guides us. It is what makes us do the right thing, take the lead, and choose we over me. Our mission is to make life great for our customers because we understand what matters most to them, and we know how to help them protect it.
If you are looking to grow in an exciting career filled with opportunities and potential, we are seeking a professional to join our team as Assistant Vice President, Finance (Management Reports).
Job Purpose
- Review and ensure timely and accurate regulatory reporting for the Company's monthly Risk Based Capital (RBC) computation.
- Manage and review the Company's tax computation, submission of tax returns, monthly tax provision, tax reporting, tax planning, analysis, and compliance (i.e. transfer pricing).
- Ensure timely and accurate preparation of management reports to Senior Management Team (SMT), Business Operating Review (BOR) and Quarterly Dialogues (QD) with Group Finance on ME, DE and Shareholder's fund profit
- Manage and review the Company's fixed assets (FA), Property, Leases accounting and reporting in accordance with MFRS 116 Property, Plant and Equipment, MFRS 140 Investment Properties and MFRS 16 Leases.
- Review intercompany transactions, reconciliations, and settlements
- Prepare other financial and management reporting functions and be involved in department's projects.
The Job
- Review the computation of Company's RBC risk charges (asset, concentration, and other risk charges) and ensure timely submission (monthly/weekly) to both regulator (BNM) and Group Finance
- Ensure movement of assets and equity (total capital available) for RBC reconciled with balance sheet
- Review Company's tax calculations, submission of periodic tax returns/reports i.e. annual tax, withholding tax, sales and services tax (SST)
- Analyse Company's tax plan and liaise closely with tax agent and Inland Revenue Board (LHDN) on Company's tax matters
- Review and co-ordinate the compilation of the Company's Transfer Pricing documentation
- Advise and provide assistance to various departments on matters relating to tax impact on business
- Ensure timely settlement of Company's tax payments
- Review tax provisions and deferred tax movements
- Ensure timely closing of the monthly ME, DE, group function cost, tax (income and deferred), FA, leases and property related transactions
- Review monthly accounting journals, reconciliations, accruals/ provisions, accounting information relating to expenses, FA, property, intercompany transactions with holding company GELS and other subsidiaries i.e. GETB, GELI.
- Prepare and review management reports i.e. BOR/SMT/QD reports for shareholder's fund profit
- Review monthly and quarterly reports to Group Finance for FA, leases, tax notes etc
- Ensure that computer assets are safeguarded and conduct annual physical verification
- Compile the Company's yearly management expenses budget and ensure the budget is uploaded into financial system
- Manage the Company's year-end ME accruals, encumbrance cut over and budget carry forward exercise for CAPEX in P2P system
- To review and update Standard Operating Procedures (SOP) on section's functions.
- Involve in Finance related projects as appropriate (e.g. implementation of e-invoice, merger and acquisition)
- Assist Vice President in any other duties as and when required.
- Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks
- Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company
- Highlights any potential concerns /risks and proactively shares best risk management practices
Our Requirements
- Tertiary qualification or full qualification in Accounting (e.g. ACCA, CIMA, MICPA, ICAEW)
- 7-9 years of working experience in finance or accounting related field with insurance experience
- Procifient with Income Tax, Withholding Tax, Sales and Service Tax Acts,
- Proficient with Malaysian Financial Reporting Standards (MFRS) i.e. MFRS 9 Financial Instruments, MFRS 17 Insurance Contracts, MFRS 112 Income Taxes
- Conversant with regulatory guidelines i.e. BNM, LIAM guidelines for insurance industry
- Familiar with computerised accounting environment
- Conversant with standard Personal Computer Software such as Microsoft Office
- Key skills: Accounting standards, Financial and Management reporting skills, Tax management, Relevant computer skills, Analysis and Numeracy
- Key knowledge: Regulatory reporting requirement (regulatory guidelines e.g. RBC, ICSS), Financial reporting standards (MFRSs e.g. MFRS 116, 140, 16, 17), Familiar with insurance and financial systems, tax calculations and planning, Oracle Financials system, FMR (Financial Management Report) TM1 system, Property system (IFCA)
- High level of integrity, takes accountability of work and good attitude over teamwork.
- Takes initiative to improve current state of things and adaptable to embrace new changes.
About Great Eastern
Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei.
The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of AA- by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia.
Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world's most highly-rated banks, with an Aa1 rating from Moody's and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World's Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.
