Assistant Manager, Group Finance-2
Salary undisclosed
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About FWD Group
FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.
For more information, please visit
www.fwd.com
FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was established in late 2019. Strategically located in Kuala Lumpur, FWD TIM serves as a pivotal shared service location within FWD Group, providing services to multiple markets across the Group. FWD TIM houses a diverse and talented workforce focused on essential business and technology services such as information security, cloud operations, IT solutions delivery, digital and data, actuarial, finance, investments, and customer service, among many others. FWD TIM is dedicated to drive and deliver operational excellence and efficiency, foster innovation and ensure regulatory compliance across all business functions as well as maintain a competitive edge in the market.
PURPOSE- Assist Senior Manager/Manager in managing full spectrum of finance-related functions
- Ensure compliance with accounting standards and financial policies, provide accurate and timely financial reports
- Assist Senior Manager/Manager to oversee, manage and deliver Group Finance Accounting activities and key initiatives (e.g. improvement in Oracle projects)
- Prepare and review financial reports for Group entities on monthly, quarterly and annually basis.
- Provide variance analysis and explanations for discrepancies in financial reports.
- Work with counterparts including account payable team, intercompany team, tax team and other business units (e.g. finance transformation team, actuarial team, IT department) to ensure smooth financial operations and reporting.
- Serve as primary support for the implementation of new accounting systems or enhancement of new systems.
- Assist in streamlining processes to improve efficiency and accuracy in financial reporting
- Ensure adherence to internal controls procedures and company policies
- Communicate effectively with internal and external stakeholders to ensure the accurate and timely processing of business operational tasks.
- Report all activities to the line manager and escalate important issues when necessary.
- Coach junior team members, supervise routine operations, and ensure timely deliverables from the team.
KEY ACCOUNTAIBILITIES
Period end closing coordination
- Coordinate with various parties (e.g. FWD GO functions and LBUs) for deliverable / information required to be received on timely basis
- Prepare journal entries and book into GL to produce accurate trial balance, balance sheet and income statement
- Reconcile accounts, review journals entries and ensure accuracy of general ledger balances
Finance processes and accounting
Fixed Asset:
- Coordinate with various parties (e.g. FWD GO functions) on the items to the capitalized in the FA module
- Prepare and maintain fixed asset register in accordance to group accounting policy
- Prepare Monthly reconciliation of fixed asset register maintained by Finance and asset tagging file kept by each FWD GO function
- Prepare monthly depreciation posting of fixed assets
- Prepare yearly fixed asset count
Accrual and Prepayment:
- Prepare and maintain monthly fixed accrual schedule and prepayment schedule
- Enter and upload (park) monthly accrual and amortization journal into ledger
Non ops posting & reclassification entries
- Prepare non ops cost centres posting on monthly basis based on info provided by FP&A team
- Prepare reclassification entries as requested by users and ensure they are in accordance with FWD Group accounting policies and standards
- Any ad hoc supporting entries as requested by business users
Reporting
- Prepare GO reporting on the monthly and quarterly basis according to Group Finance requirements
- Prepare and analyse monthly management account and balance sheet reconciliation for active entities
- Provide advise and suggest best practices to FWD GO functions for reconciling general ledger to identify and resolve discrepancies promptly
- Prepare consolidation number and analytic as corporate and others segment ("C&O")
- Assist in preparation of Board materials and draft management accounts
Audit and financial statement
- Liaise with external auditor, tax consultants and regulatory bodies to ensure compliance tax regulations, audits and internal controls.
- Assist in coordination for quarterly and annual audit with various parties (e.g. treasury, account payable team, intercompany team, tax team)
- Prepare draft financial statements for auditors
- Prepare CAP to external auditors
Projects and Ad hoc duties
- Support in other ad hoc projects for i.e. Oracle, Workiva
- Support other team members where applicable.
Process Improvement
- Support improvement to financial processes, systems and reporting tools
- Perform UAT for newly development/enhancement on the accounting system
- Support automation of repetitive tasks to increase efficiency and reduce error
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