Risk Finance Manager (Captive Insurance)

The position is responsible for the execution of all the Captive Insurance activities 

1. Ensuring that captive insurance deliverables are effectively being executed on-time, which includes coordination with the various third parties pertinent for the operation of the captive insurance. Details are as follows:

• Captive Insurance Manager

• Re/Insurance Brokers

• Re/Insurance Companies

• Auditors, Tax Agents, Regulators (Singapore & Philippines)

• Actuaries

• And all other parties pertinent for the operation of the captive insurance

2. Ensuring that the captive is financially stable, with ample protection against various financial exposures, by ensuring that correct premium pricing is applied, and recoveries following losses has been properly implemented

3. Ensuring that the captive can secure other revenue stream, aside the premium that it is getting from its internal clients (i.e. Investment Income, etc.

4. Preparation and presentation of management reports

5. Facilitations of captive board meetings

6. Ensure that the captive complies with all relevant legal and regulatory requirements both locally and in Singapore, including insurance regulations, corporate governance, and reporting obligations

7. Overseeing claims process, ensuring timely and accurate handling, and coordinate with internal teams and external providers, such as loss adjusters and reinsurers

8. Leverage data analytics to monitor loss trends, financial performance, and key metrics, benchmarking the captive’s performance against industry standards.

9. Maintain strong relationships with key stakeholders, including internal clients, board members, and external service providers, ensuring transparent communication.

10. All other tasks as required by its immediate superior

Experience (No. of Years) Professional: At least 8-10 years experience in risk in the insurance industry, with a focus on underwriting, risk management, or financial analysis. Experience with captive insurance specifically is highly beneficial. Further details of experience needed are as follows:
Risk Management and Underwriting: Knowledge of risk assessment, underwriting practices, and risk management techniques.
Financial Analysis and Reporting: Proficiency in financial analysis, budgeting, and reporting
Regulatory Compliance Knowledge: Familiarity with insurance regulations, especially those related to captive insurance, is essential.
Technology Skills: Competency in insurance and financial software, as well as data analysis tools like Excel, can be critical.
Leadership: Intermediate
Project: Intermediate
Education: Degree in Finance, Accounting, Actuarial Science, Statistics, Mathematics, or related field is required
License Required: None
Certifications: Relevant Risk Management, Insurance (including Captive Insurance) certification/trainings required