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

The position is accountable to provide investment accounting and reporting services for over US$ 40 billion in assets for FWD Group.
Support the expansion of the ICOE to the Local BUs.

KEY ACCOUNTABILITIES

Group Investment Accounting

Accountable to manage a team of 4 professionals delivering key daily, monthly, and quarterly SLAs.

Owner of investment accounting processes including Clearwater-Oracle reconciliation, HFM FX revaluation, Expected Credit Loss (ECL) 3-way reconciliation review.
Maintain the group pricing hierarchy and the implementation of related pricing controls for monitoring, along with review and approval of pricing override submissions according to group policy.
Prepare and present materials to the Asset Valuation Committee.
Responsible for the ECL model governance including model parameters updates, forward-looking adjustments, and preparation of management reporting.
Responsible for Solely for Purpose of Principal and Interest (SPPI) change monitoring, associated controls and management reporting.
Approve SPPI compliance securities when required.
Explain key drivers to management of changes in ECL and SPPI results and the resultant impact on financial statements.
Coordinate and plan quarter-end closing activities, record and follow-up issues encountered by BUs, and ensure timely completion of all activities.
Manage Local BUs submission of updates to Business Model (BM), Account Classification templates.
Manage audit process and internal controls testing with internal and external stakeholders.

Investment Data Repository (IDR)

Owner of the IDR ensuring the development, data maintenance and accuracy of the IDR.
Liaise with Group Reporting to update IDR logic on a timely basis to ensure relevant and timely financial disclosures.

Manage delivery of Local BU loan data and other assets, which are not in Clearwater, every quarter through IDR’s templates.
Responsible for updating IDR logic and controls to accommodate new requirements either upstream (Clearwater) or downstream (HFM, Oracle, ECL model, etc.).
Manage change request process for IDR.

Clearwater Analytics Accounting Controls and Processes

Enhancement of known and unknown accounting and reporting gaps in Clearwater.
Develop consistent, sustainable processes for the Clearwater investment accounting system, to be deployed across the Group.
Implement checks and controls to ensure accuracy and integrity of investment accounting data in Clearwater, including credit rating, pricing, securities setup, and trade details.
Develop consistent financial investment reports from Clearwater for financial analysis and control checks.
Design solutions for new requirements from Local BUs, Group Finance and Investments for existing setup in Clearwater (e.g. hedge accounting, fund look-through).
Manage Clearwater change request process.

KEY PERFORMANCE INDICATORS

Monthly & Quarterly Clearwater close completed within group defined timelines.
Group-wide Investment Accounting activities completed to agreed SLAs.
Prioritize tasks and demonstrate ability to work with details.
Support team members for completion of ad-hoc requests, special projects, and other duties as needed.

EXTERNAL & INTERNAL CONTACTS

Internal:

Group Investment Accounting Team.
Local BUs Investment Accounting team.
Group and Local Investment Teams.
Group and Local Finance Teams.
Group Accounting Policy Team.
Group Tax Team.

External:

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

DECISION MAKING

Approve appropriate solutions and change requests to recommend to management to resolve investment accounting issues.
In conjunction with the Head of the ICOE make team related decisions for direct reports.
In conjunction with the AVP, Group Investment and Head of ICOE decide and resolutions on risks and issues as they relate to Group Investment Accounting.

QUALIFICATIONS / EXPERIENCE

University degree in Accounting/Business/Finance or related fields.
10+ years of working experience in investment accounting or a fund accounting roles, preferably in the insurance industry.
Internationally recognized accounting qualification, or working towards one, is required.

KNOWLEDGE & TECHNICAL SKILLS

Business Knowledge

Expert in investment or fund accounting.

Solid knowledge of financial products.
Hands on day-to-day experience in implementing and operationalizing investment accounting procedures is required.
Advanced knowledge of investment accounting/Reporting is required preferably within a life insurance company.
Understanding of IFRS9 requirements, ECL, SPPI is required.
Broad knowledge of a variety of security types including fixed income, equity, funds, structured products, private credit, private equity, and derivatives.

Technical Skills

Strong analytical and excel skills.
Investment accounting systems (PAM, FAM, Portia, Clearwater, etc.) are an asset.
Microsoft Office.
Bloomberg.

Management Skills

Experience leading teams in an investment accounting environment is preferred.
Clarity in communication and being an active listener.
Provide constructive feedback and build a high performing team.
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.