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JOB DESCRIPTION

Insurance Management

1. Assists in the management of OUR CLIENT insurance programmes, which includes annual review of company’s exposure, underwriting terms and rates for the global policies, local policies, group term life policy for OUR CLIENT and hospitalisation and surgical policy for the VSS employees.

2. Administers all OUR CLIENT insurance and self-insurance plans relating to property, workers compensation, crime, boilers, machinery, builder's risk, overseas programs, losses, inland transit, death, medically boarded out cases, importation of leaf, wrapping materials, cigarettes and loss of money, travel accident, etc.

3. Organises annual risk survey of the Company’s premises, including Virginia Park factory and GLT Plant by international surveyor appointed by OUR CLIENT global insurer.

4. Coordinates efforts with Human Resources Department for the administration and purchase of employee benefits insurance programs, including but not limited to:

Process death/disability/medically boarded out claims.

Process hospitalisation claims and reimbursement of claims.

Annual review of Group Term Life underwriting requirements for employees who are above the NEL limits including health declaration by individual and arranging for medical examination, if necessary.

Provide Travel P.A. confirmation letters to employees on business trips overseas and providing same information to underwriter on a monthly declaration.

Submission of monthly headcount reporting to insurer and issuing letters requesting affected employers for medical checkup.

5. Reports losses to insurer and co-ordinates with internal stakeholders, loss adjuster, internal audit and risk management committee.

6. Timely submission of claim documents and follow up closely with Legal Department, insurance companies and others in negotiating, adjusting and settling all insured or self-insured losses.

7. Reviews premium bills, process payment and allocate the costs to the appropriate cost centres.

8. Maintains insurance coverage, premiums and claims records.

9. Arranges ad-hoc coverage to meet specific requirements during festive seasons, pre-Budget and other circumstances such as commencement of EDX operations and special launches or trade promotions etc.

Enterprise Risk Management

1. Assists the Corporate Finance Controller to drive the Company’s formal ERM programme:

Conducts and/or coordinates regular internal or external risk audits

Tracks progress achieved on action plans to minimise risks

Communicates the company’s ERM programme components and costs to management staff and others as necessary

Preparation of presentation materials necessary for formal update to the Audit Committee periodically on the ERM programme

Maintains an efficient and effective ERM documentation system

Conducts regular simulated testing of selected risk scenarios and incorporating learning points in the BCP

2. Act as secretary to bi-annually RMT meetings.

Other Responsibilities

1. Assists in the preparation annual budget for insurance programme and provide cost allocation to respective budget holder.

2. Assists Corporate Finance Manager in the forecasting and monitoring of the company’s overhead cost and liaison with budget holders on any overhead optimisation initiatives.

3. Assists in the organisation of training for identified staff on risk management.

4. Participate in the conduct of Risk Awareness Workshop for non-finance managers.

Essential requirements

Possess Degree in Finance or Accounting with relevant professional certification.

Minimum 3 years working experience in external or internal audit, with sound understanding of holistic risk management framework and their application to the business.

Detailed knowledge on Business Continuity Plan principles and approach.

Good knowledge on crisis management principles.

Possess strong analytical skills with good business acumen.

Knowledge on Malaysian Code on Corporate Governance and all applicable Malaysian laws and regulations would be an added advantage

Good knowledge on current and emerging business risks at macro and micro levels and their impacts on the company’s business operations.