Manager, Insurance Accounting

Manager, Insurance Accounting

AIA Group
Ho Chi Minh Vietnam
7 - 10 Years
Not Specified

Job Description

Bring your career aspirations to life with AIA!POSITION OBJECTIVES
- Be the key person to control quality of accounting data details in the group of insurance business related accounts on the Company’s balance sheet via both routine and non-routine activities
- Work close with peers and support line manager to ensure smooth cooperation among sub-finance teams and business partners (OP/AD/PD/IT) to govern various financial processes and system operations
- Lead Insurance Accounting team to achieve assigned KPIs and build a sustainable team with ready- to-back-up resource
Maintain routine insurance accounting activities (40%)
Key routine processes include but not limited to the below.
  • Payment process for insurance activities
  • Review and approve bank payment request to policyholders and salesforces prepared by team members prior passing through to Treasury for bank transfer.
  • Provide timely support to team members and liaise with business partners (OP/AD/PD) to promptly solve any actual/potential incidents of payment process which could potentially impact on customer service quality (e.g. customer/sales dispute) and business quality (e.g. sales fraud)
  • Monthly/Yearly closing process
  • Review all manual insurance accounting data entries posted by team members (e.g. accruals, adjustment, reclassification, reallocation etc.) to accounting system and perform proper check to ensure data completeness and accuracy
  • Work close with other sub-finance teams (e.g. Financial Reporting, Finance Business Partners, Actuarial) and business teams (OP/AD/PD) to ensure the delivery of required closing schedule, otherwise it has to be timely head up to work out solutions for any potential delay/risks
  • Review team members’ routine report and data extraction provided to other teams as agreed schedule. Any duplication and redundancy will also need to be timely detected to avoid wastage of unnecessary timing & resources.
  • Balance sheet reconciliation
  • Monitor monthly reconciliation process of team members to ensure the completion as per required deadline and any difference being timely detected, investigated and properly resolved
  • Ensure the effectiveness of oversight role of insurance accounting team on long outstanding balance of policy holders and sales agents against the Company’s management policy and guidelines
  • Proactively head up to OP and Finance management team on any un-resolved long outstanding amounts that could cause areas of concern to risk management toward business quality and customer services
  • Audit works support
  • Sign off all supporting documents of team members for monthly/yearly manual posting and monthly reconciliation results and ensure their availability to retrieve when needed as evidences.
  • Work close with sub-finance teams (i.e. Financial Reporting & Actuarial) and business teams (i.e. OP/AD/PD) to provide timely insurance accounting data related to policy holders’ policies and sales compensation to ensure the matching between data recorded on accounting system and other systems

Involve in other non-routine activities (30%)
Key non-routine activities include but not limited to the below
  • System set up for insurance accounting entries

Provide guidelines on new/existing insurance accounting entries and join with project teams to perform system UAT for the following
  • Existing product system enhancement
  • New product system set up, esp. ILP products
  • Other according system set up, including but not limited to fund-split & inter-fund process
  • Process improvement

Continuously seek rooms for
  • Improving team’s work productivity via less manual works/more automated system via proactive proposal and collaboration with relevant teams to ask for support
  • Removing unnecessary requirements which could still ensure work quality yet be able to adapt to business changes
  • Identifying areas of operating risk and propose actions to improve/change existing process to mitigate and manage potential risks
  • Project (both Finance and non-Finance)
  • Play proactive role to get involved in other projects, initiated by both Finance & non-Finance team to provide insurance accounting expertise
  • Plan for team’s resource to ensure timely delivery of assigned tasks in projects and actively head up to both project teams and line manager if there is any potential risk of delay

Business Relationship (15%)
  • Build trust and rapport with business teams and other sub-finance teams with to ensure smooth flow of routine and ad hoc works
  • Proactively seek for feedback to improve quality of products (e.g. reports, data etc.) provided by Insurance Accounting team to others.
  • Be a role model for customer/business service mindset for team members and strive to maintain that consistent standards

People Management & Development (15%)
  • Maintain back up resource to ensure minimal team’s operation distraction, esp. during peak periods of closing and audits
  • Need to build and maintain proper plan to diversify concentration risk in resource management via job rotation based on matching between capability and assigned works
  • Identify potential talents with timely developing plan to grow internally and externally when needed
  • Provide on-going on-job coaching and knowledge sharing to team members and work out on long term plan for successors

Bachelor’s Degree in Accounting/Finance
  • 7 years of working experiences in life insurance companies
  • 3 years of experience on insurance accounting details works, esp. Fund-split & ILP accounting (MUST)
  • Experiences in people management & team organization

  • Life Insurance business is a MUST (e.g. LOMA certificates)
  • Accounting knowledge (VAS/IFRS)
  • Experience with accounting system (e.g. SAP) & core insurance system (e.g. OLAS) is a PLUS

Hard skills
  • Be familiar with core life insurance systems (e.g. OLAS) (MUST)
  • Be able to handle big data volume (e.g. by policies, agents) via MS Excel, Access (MUST)
  • Be able to perform reconciliation across systems at details levels to detect differences
  • Have ability to understand (i) how insurance accounting entries are created & (ii) how they flow across systems to find solutions & fix data errors
  • Have UAT experiences for existing & new insurance products is a PLUS

Soft skills
  • Personal skills
  • Intermediate required level of such soft skills as communication, time management, teamwork, transferability and proactivity
  • Intermediate required level of work ethics with key focus on integrity, responsibility and cooperation
  • People skills
  • Be a leader with dedicated effort to inspire and promote team spirits
  • Keen on people development via knowledge sharing & coaching
  • Be able to build trust and rapport with peers, line manager and other partners

Build a career with us as we help our customers and the community live healthier, longer, better lives.
You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

Job Details

About AIA Group

For a century, we have served millions of people and generations of families all around the Asia-Pacific region.AIA is the largest independent publicly listed pan-Asian life insurance group – with a presence in 18 markets across the Asia-Pacific region.Our Vision is to be the world’s pre-eminent life insurance provider. That is our service to our customers and our shareholders.Our Purpose is to play a leadership role in driving economic and social development across the region. That is our service to societies and their people.Our Promise to help people live Healthier, Longer, Better Lives.

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