Job Description

Established in 2015, China Life Insurance (Singapore) Pte. Ltd. is a licensed life insurer which is regulated by the Monetary Authority of Singapore. As part of China Life Insurance (Group) Company ("China Life") which is the largest state-owned financial insurance corporation in China, we are backed by its financial strength and established heritage^. For 20 consecutive years, China Life is a Fortune Global 500 company, ranking 40 in 2022. It is an influential global brand with a brand value of RMB 452.539 billion*.

Our parent company, China Life Insurance (Overseas) Company Limited ("China Life (Overseas)") is a wholly-owned subsidiary of China Life. It has grown to become one of the largest financial institutions in Hong Kong with a total asset value of HKD 463.1 billion (December 2022) and a total premium income of HKD 49.2 billion in 2022. China Life (Overseas) has extended its footprint in Southeast Asia region in recent years, and established subsidiaries in Singapore and Indonesia in 2015 and 2018 respectively. Its financial rating by Moody\'s was "A1" (insurance financial strength rating in October 2022) and by Standard & Poor\'s was "A" (long-term local currency issuer credit rating and insurer financial strength rating in December 2022).

As a socially responsible company, we are committed to offer value-added financial solutions to customers to fulfil their risk protection, retirement, wealth management, and legacy planning needs. We believe in giving back to society through our corporate social responsibility activities to make a positive impact on the community and our customers.Moody\'s has assigned insurance financial strength ratings (IFSR) of A3 to our company in November 2022. The outlook is stable. We have a network of 19 branches formed by strategic partnership of 2 banks, and 24 strategic partners formed by local and international brokerages, and wealth management companies. We have officially launched our Agency Channel. It aims to penetrate the local insurance industry and built a trusted and experienced team, equipped to provide utmost services to local clients and high net worth clients.



This role is designed to ensure smooth and predictable operational cash-flow; Maximize returns on cash holdings; Achieve savings in cash management; and annual review of cash/liquidity policy.

• Daily review on interface of SAP and policy management system.
• Daily review on policy related payment and receipting to ensure systems and banks reconciliations is accurate and up-to-date.
• Handle bank reconciliations monthly.
• Assist in UAT for new products.
• Project future cash-flow and update position on rolling basis. Highlight anticipated cash-flow challenges and propose remediation
• Review and manage premium transfer between operating accounts and ensure to comply MAS101
• Perform recording and settlement of cash management transactions i.e. Fixed deposit, interest accrue, currency trade
• Update and maintain bank authorization mandate
• Assist in banking documentation, bank account review and user related banking matters
• Prepare cash management reports
• Assist in handling ad-hoc foreign currency transaction requests from Operations and Distribution.
• Assist in audit on the sampling testing.
• Any other duties as may be assigned.

Job Requirements:

• Accuracy and timeliness
• Experience in Life Insurance industry will be an advantage
• Team work and collaboration
• Prioritization, organization & planning
• Process improvement/streamlining
• Keen learner and highly versatile to adapt to situation
• Good communication skills

Application Instructions

Please apply for this position by submitting your CV.
Kindly note that only shortlisted candidates will be notified.

InternSG