NICHOLAS NEO
Summary
A seasoned banking and insurance professional with strong sales and operations project management skills in evaluating process change impact and the potential return-on-investment (ROI), navigating project plan schedule with sound risk and compliance controls, and delivered significant cost savings for the organization. Leverage on customer insights and collaborate with marketing, IT, risk and compliance, and business excellence team to deliver an improved customer experience journey with IT system enhancements while ensuring quality assurance on internal controls & fraud management and developed notable training programs to upskill & re-skill employees in preparation for transformation change.
Overview
19
19
years of professional experience
Work History
SENIOR MANAGER, BRANCH SERVICES | SERVICE EXCELLENCE
Income Insurance Limited (formerly NTUC Income) Singapore
11.2019 - Current
- Lead a service excellence support team of 7 to respond rapidly to market shifts, introduce changes to existing corporate processes catering to changing customers’ engagement, conduct quality assurance checks for sales & service force and manage all risk and compliance related matters for the department
- Approach with strategy planning, conducted root cause analysis, and evaluated impact versus result of new process improvements on customer service operations and projected return-on-investment (ROI) with sound risk and compliance controls
- Successfully delivered on project cost savings of SGD 250,000 and managed within budget
- Conduct compliance risk assessment control testing across sales and operations divisions, identified more than 80 key regulation risks and 20% controls re-designed to mitigate risks and comply with regulatory requirements
- Design new process flow to support insurance operations and servicing matters for internal mobile sales teams (without branches) with critical analysis and safeguards on fraud risk mitigation
- Core player of the Organisation Conduct and Culture Taskforce to design corporate communication framework to emphasis importance of PDPA practices in 6 months, and effectively reduced breach cases by 10%
- Spearhead meetings with business units and regulators to address open audit issues and regulatory findings, equipped with knowledge of regulatory capital rules
- Passed strict internal audit conducted on all branch services concerning fraud risk management & KPMG audit on Income’s general insurance fund
- Conduct performance management analysis with budgeting and forecasting to lead a new roll-out of a hub-and-spoke self-sustaining business unit ecosystem made up of a complete suite including bancassurance, group insurance initiatives to SMEs, unit trust investments aimed at new target audience group aligned with corporate vision focusing high net-worth clients
- Guide operations workforce with new general insurance cross-selling and telemarketing appointment arrangement developmental skills by designing high-quality training programs and repurposing their daily core functions to include revenue-generating activities
- Set up a new Sales Quality team in 2022 to provide sales, business and regulatory risk advisory, including designing quality assurance check framework to conduct level 1.5 checks on Financial Advisory Act related matters
- Designed processes to remedy Financial Advisers’ infractions identified for the Balanced Scorecard Framework to close the loop for all outstanding cases from Year 2016 to Year 2020
- Setup new call centre model within the department to provide virtual digital & service support to guide customers on electronic transactions
- Implemented a robust virtual control process on fraud risk management and successfully inhibited a fraudulent policy loan application amounting to $100,000.
SABBATICAL
06.2019 - 10.2019
- Spent quality time to support a family member’s health back on road to recovery.
SENIOR MANAGER, MANAGEMENT SUPPORT
Income Insurance Limited (formerly NTUC Income) Singapore
12.2018 - 05.2019
- Establish key working relationships with senior leaders and provided compelling business cases to key stakeholders for change with proven cost savings and efficiencies
- Developed sustainable, repeatable, and quantifiable business process improvements utilizing a data-driven approach
- Challenge existing working methods and practices and provided creative solutions and clarity for customers
- Mentored process owners on change management and cross-functional alignment
- Lead independent, objective assurance and consulting activities on improving operational success on internal controls, securities, and all related governance processes to minimize operational risks
- Effectively supervise a staff of 9 personnel by implementing company policies, protocols, work rules, and disciplinary action
- Ensure order entry compliance, implemented project management process to improve backlog management efficiency for customer satisfaction.
VICE PRESIDENT, BUSINESS MANAGEMENT
OCBC Bank Singapore
09.2009 - 11.2018
- Formulate tactical sales strategies, incentives, and business plan to boost overall bancassurance & investment sales through performance analysis
- Partner with multiple cross-functional departments to promote new business launches and innovative products addressing customers’ retirement planning, savings, and financial protection needs to drive group sales performance
- Periodically review sales policies, budget and forecast activities, manage daily performance delivery, and helmed full profit and loss responsibility to support all sales and marketing services-related activities
- Coach and motivate new personal financial consultants and branch relationship managers in investment & insurance sales tactics and processes as well as developing sales training syllabus
- Monitor and ensure banking sales activities comply with Monetary Authority of Singapore & Financial Advisers Act guidelines including all fit & proper assessment
- Written 3 policy papers on the training journey for the respective branches and group premier banking divisions; namely the personal banking business management manual, financial advisors’ supervisory guidebook for Monetary Authority of Singapore audit submission
- Boost profitability by 15% by developing an average of 300 new personal financial consultants annually, communicating expectations with good interpersonal skills
- Revise and evaluate policies and procedures for consumer and business banking.
PREMIER BANKING RELATIONSHIP MANAGER
OCBC Bank Singapore
07.2007 - 08.2009
BRANCH RELATIONSHIP MANAGER
OCBC Bank Singapore
07.2006 - 06.2007
PERSONAL FINANCIAL CONSULTANT
OCBC Bank Singapore
07.2005 - 06.2006
Education
Bachelor of Science - Applied Mathematics
National University of Singapore (NUS)
06.2005
Skills
- Zoom
- Microsoft Office (Word, Excel, PowerPoint, Teams)
- Oracle CRM
- Google Suite (Gmail, YouTube)
- Customer Service
- Customer Experience
- Coaching
- Leadership
- Change Management
- Problem-Solving
- Service Delivery
- Digital
- Standard Operating Procedures
- Data Analysis
- Accountability
- Risk and Compliance
- Conduct Investigation and Needs Review
- Innovation
- Presentation Skills
- Communication
- Attention to Details
- Strategic Planning
- Operations Management
- Data-driven decision-making
- Documentation And Reporting
- Data Analytics
- Resource Allocation
- Team Leadership
- Process Improvement
- Training and Development
- Decision-Making
- Budget Management
- Negotiation and Conflict Resolution
- Performance Tracking and Evaluation
- Managing Operations and Efficiency
- Staff Management
- Business Planning
- Interpersonal Relations
- Goal Setting
- Administration and Reporting
Websites
Languages
English
Chinese
Personal Information
Nationality: Singaporean
Timeline
SENIOR MANAGER, BRANCH SERVICES | SERVICE EXCELLENCE
Income Insurance Limited (formerly NTUC Income) Singapore
11.2019 - Current
SABBATICAL
06.2019 - 10.2019
SENIOR MANAGER, MANAGEMENT SUPPORT
Income Insurance Limited (formerly NTUC Income) Singapore
12.2018 - 05.2019
VICE PRESIDENT, BUSINESS MANAGEMENT
OCBC Bank Singapore
09.2009 - 11.2018
PREMIER BANKING RELATIONSHIP MANAGER
OCBC Bank Singapore
07.2007 - 08.2009
BRANCH RELATIONSHIP MANAGER
OCBC Bank Singapore
07.2006 - 06.2007
PERSONAL FINANCIAL CONSULTANT
OCBC Bank Singapore
07.2005 - 06.2006
Bachelor of Science - Applied Mathematics
National University of Singapore (NUS)
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