Assistant Director, Insurance Department (Contract)

What the role is
The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.

As central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector.

As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education.

MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

Join us now, if you have a genuine interest in making an impact to help shape Singapore’s economic and financial landscape.

What you will be working on

You will be joining a team that supervises Special Purpose Reinsurance Vehicles, entities which allow (re)insurers to engage in insurance securitisation to manage and mitigate risks through the capital markets, including via the issuance of catastrophe bonds. You will also be assigned a portfolio of insurance companies, and will be responsible for monitoring their financial soundness and good business practices. In supervising these insurance companies, you will learn and apply risk management strategies for life or general insurance business, and will have the opportunity to engage in relevant regulatory policy work.

What are we looking for

• Relevant experience, preferably with at least 2 years in auditing, risk management or insurance.
• Relevant knowledge relating to the insurance sector such as actuarial science, risk analytics, risk management will be an added advantage.
• Strong analytical abilities and good interpersonal skills.
• Good written and verbal communication skills.
• Ability to work well independently as well as in a team.
• You will be working in a fast-paced environment that would require the ability to manage multiple priorities and needs of stakeholders, as well as the agility to respond to changes and developments.

As part of the shortlisting process for this role, you may be required to complete a medical declaration and/or undergo further assessment.

All applicants will be notified on whether they are shortlisted or not within 4 weeks of the closing date of this job posting.