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

Reporting to the Senior Manager, this position is accountable for investment accounting and reporting to ensure the accuracy and completeness of FWD Group’s investment accounting records.
Drive the development and implementation of key investment accounting processes, and reports across FWD Group, ensuring alignment with corporate goals and regulatory compliance.

KEY ACCOUNTABILITIES

Lead the design and optimization of Clearwater investment accounting processes, ensuring scalable solutions across FWD Group.
Analyze new accounting or security requirements from Local BUs and align existing Clearwater setups, including Hedge Accounting, fund look-through, and tax reporting requirements, assist with the implementation of standardized Clearwater solutions across FWD Group and collaborate with Local BUs and project teams to enhance existing Clearwater processes and eliminate manual workarounds.
Generate financial investment reports from Clearwater for investment analysis and perform control checks.
Work with Local BUs to ensure adherence to SPPI / Business Model / Account Classification / Price Leveling policies and procedures.
Accountable for pricing controls, identifying and reporting on abnormal price movements. and price overrides.

Responsible to complete reconciliation with Local BUs of Clearwater-Oracle reconciliation, HFM FX revaluation reconciliation, Expected Credit Loss (ECL) 3-way reconciliation, and data quality checks.
Drive the quarterly ECL production run, reviewing results for reasonableness, and be able to explain ECL movements.
Accountable for the ECL model and input parameters refreshing the model and advising the Asset Valuation Committee on required updates.

Ensure accurate and timely compliance with all regulatory reporting requirements of investment, driving the implementation of any necessary changes within the group structure. Identify opportunities for process automation and optimization within Clearwater and other investment systems to increase efficiency and reporting accuracy.
Assist in quarter-end closing activities, record and follow-up issues encountered by BUs, and ensure timely completion of closing activities.

Liaise directly with internal and external auditors, on audit and internal controls testing.
Oversee the preparation of financial reports, ensuring they meet both internal and external audit requirements and are ready for executive-level review.
Manage change request process for Clearwater group-wide, recommending solutions to management to address system gaps, or issues.

KEY PERFORMANCE INDICATORS

Monthly & Quarterly Clearwater close completed within group defined SLAs.
Able to prioritize tasks and demonstrate ability to work with details.
Support other team members for completion of ad-hoc requests, special projects, and other duties as needed.

EXTERNAL & INTERNAL CONTACTS

Internal:

Group Investment Accounting Team.
Local BU Investment Accounting Team.
Group & Local Investments Team.
Group & Local Finance Team.
Group Accounting Policy.
Group Tax.

External:

Clearwater Analytics.
Bloomberg.
3rd Party Vendors.
3rd Party Asset Managers.
Auditors.

DECISION MAKING

Recommend appropriate solutions to resolve investment accounting issues.

QUALIFICATIONS / EXPERIENCE

University degree in Accounting/Business/Finance or related fields.
5+ years of working experience in investment accounting or a fund accounting role, preferably in the insurance industry.
Pursuing an internationally recognized professional accountancy qualification (ACCA, CPA. Etc.) is required.

KNOWLEDGE & TECHNICAL SKILLS

Business Knowledge

Solid knowledge of investment products including both accounting and investment characteristics.
Knowledge of International Financial Reporting Standards (IFRS) is required.
Understanding of IFRS9 requirements, ECL, SPPI is required.
Knowledge of control environments / internal controls in an accounting and finance operation is an advantage.
Knowledge of securities: fixed income, equities, private equity, private credit, structured products and derivatives is an asset.
Prior experience in a life insurance entity.

Technical Skills

Strong analytical and Excel skills.
Investment accounting systems knowledge (FAM, Portia, Clearwater, etc) is an asset.
Knowledge of Bloomberg, Reuters or other market data providers.
Oracle accounting Software.
Knowledge of Robotic Processing Automation (RPA) and Artificial Intelligence (AI) tools in the market.

Management Skills

Clarity in communication and being an active listener.
Provide and receive constructive feedback.
Being empathic with a desire to help others.

COMPETENCIES

Able to work independently or as part of a team.
Excellent interpersonal skills.
Good command of both spoken and written English
Understanding inter-dependencies and inter-connections of systems; seeing the big picture rather than the parts.
Being flexible and adaptable for change.
Learning from mistakes and desire to improve.