Serene Chiam
Singapore
Summary
Extensive experience in the insurance industry with a deep understanding of direct insurance, reinsurance, broking, treaty, and Fac business. Expertise in various lines of business including property, engineering, casualty, marine, agriculture, and life reinsurance. Professional executive with comprehensive experience and a readiness to excel in senior leadership roles. Skilled in strategic planning, fostering team collaboration, and driving business growth. Renowned for adaptability, effective communication, and problem-solving abilities. Adept at optimizing processes to enhance productivity. Proven track record of leading high-performing teams and consistently achieving measurable results.
Overview
27
27
years of professional experience
1
1
Certification
Work History
Senior Executive
MSIG Insurance
11.2022 - Current
- Monitoring and attend to risks requiring reinsurance by effecting treaty cessions/or fac placements in accordance with guidelines laid down by the Company’s Risk Management policy and Reinsurance programme.
- Maximise retention of risks to increase Net Written Premium as a percentage of Gross Written Premium through sound assessment of risks and underwriting information.
- Compile reinsurance statistical data, treaty renewal information with all Business Units.
- Continual Process Health Checks. Ensure maximum efficiency and effectiveness in work processes within the RI unit. Ensure RI documentation is handled properly.
- Processing of Facultative Inward Reinsurance including checking and signing off policies. This includes handling of facultative Inwards from overseas.
- Checking of processing work done by Senior Administrative Officers/Administrative Officers.
- Control of market accumulations by locations
- Setting up new business product and UAT testing to ensure that it flow to the correct treaty
- Setting up Treaties in the system.
- Inwards Japanese Business acceptance.
- Market Security controlling to Business units and to ensure that the market is used is withing the guildlines
- Undertake any other duties as may be assigned.
- Acceptance of Fac In or Out business
- Fac out risk to other Reinsurance market.
- Fronting Business
- Natcat reporting to HQ
- Treaty Special Acceptance requests by Business Unit, to ensure that proper documentation and recording
- Collaborating businesses with other MSIG offices worldwide.
- Mentoring junior staff
- Compiling monthly claim report, preparing SOA for Japanese businesses.
KYC Manager
HL Bank
08.2022 - 10.2022
- Assess the adequacy and completeness of the KYC information, source of wealth, narrative and corroboration, enhanced due diligence, transaction review and ensuring overall compliance with Bank Procedural standards
- Perform name screening alerts triggered for existing client relationships to ensure sanctions and adverse media screenings, whether false or true matches, investigate and escalate to Relationship Managers
- Assess and escalate newly identified risk indicators, changes in risk rating or unusual transaction patterns during course of reviews
- Ensure compliance with MAS 626 Notices and Guidelines and internal policies and procedure
- Prepare statistics for Management reporting and support in projects and process improvement initiatives
- Perform ongoing AML risk monitoring including but not limited to the review, analysis and disposal of alerts in accordance with the bank’s processes, as well as timely escalation of alerts along with relevant information and due diligence.
- Work with the relevant stakeholders to review and recommend segmentation, rule and scoring changes, and ensure they are tested appropriately prior to implementation
- Able to analyse the latest AML typologies and trends and ensure that the existing AML framework continues to be effective in mitigating these new risks.
- Able to provide guidance to the stakeholders on AML typologies.
- Review unusual transactions and/or activities with an analytical mind and be firm (with strong reasoning) and assertive when being challenged.
- Perform checks on relevant departments so as to ensure that procedures are complied with.
- Review and propose enhancement to procedures where necessary.
- Contract
Associate Director
Aon Reinsurance Asia Pte Ltd
10.2018 - 02.2022
- The Business Entity Office (BEO) Team is responsible for Entity Maintenance in GRiDS, a proprietary global web-based application of Aon. The team is tasked to perform regular data updates and maintenance of entities, clients, markets and global groupings. The team ensures that due diligence conducted on new entities meets local regulators’ guidelines and that on-going due diligence monitoring of these new and current entities is carried out. The team provides control functions for market usage to minimize risk to our clients by ensuring markets used are within Aon Market Security’s guidelines.
- Another control function performed by the team is the approval of banking templates according to regional protocols to prevent fraud. The team’s responsibilities also include checking and adding new taxes in GRiDS and trouble-shooting various GRiDS issues which would have prevented users from proceeding with their normal tasks.
- Performing regional responsibilities that include day-to-day management of users’ queries and system issues, assisting with setting team process and procedures, and liaising with the management and compliance representatives on entity due diligence breach, use of new or unapproved markets, etc.
- Serve as catalyst to bring together all key business stakeholders to deliver key requirements, To-Be workflows and surface/address all gaps to ensure the business end-to-end workflows are catered to in projects. Essentially, work is conducted in multiple sprints as per the Agile methodology to allow for value/compartmented delivery.
- Enable leaders and sales teams to deliver client-value through system processes and procedures.
- Assist and provide consultative advice to the sales teams, client services and finance teams on GRiDS processes and issues
- Assess and solve a wide range of business and functional issues in a creative way.
- Analyze and enhance system processes to gain maximum benefit/efficiencies.
- Working with the management to define procedures and standards to achieve business objectives.
- Undertake projects, from project planning to resource management, and deadlines management.
- Subject Matter Expert (SME) in the business service that supports various applications.
- Liaising with Information System/Information Technology team for further development and upgrades of various GRiDS applications.
- Co-ordinate User Acceptance Testing (UAT) needs with the broader quality assurance team and to perform Post Production Validation (PPV) testing on a periodical basis.
- Maintaining correct global entity groupings, addresses and generic contact information.
- Conducting onboarding New Customer due diligence (CDD) or (EDD) procedures which includes money laundering, sanctions, KYC and regulatory checks.
- Performing screening of working entity via Third Party Application
- Clearing and Analyzing Red Flag raise of screening entity and perform further DDIQ report on Entity
- Act as first line defence and responsible for the timely escalation of alerts along with relevant information and due diligence
- To conduct research on new and existing clients and markets.
- Perform periodic and ad hoc AML reviews of Customers and checks in compliance
- To create new codes for clients and reinsurers and maintain accurate grouping information on existing active codes.
- To carry out research and maintain global entity structures for senior management consumption and for high-level reporting purposes.
- Research and to maintain financial impairment status of entities and associated client and market codes in system.
- Advising solutions to adhoc Management Reporting.
- Globalization across to assist team in UK and US
- Worked closely with Financial Crime Team for entity that required further escalation
- Checking and approval of banking template from Treasury Department to preventing scam.
- Maintaining GRiDS Application, ensuring they are up to date with Market Security team
- Compliance Checking of payment to Third Party (example: external Broker)
- Business Entity Office (BEO Global)
Associate Director
Aon Reinsurance Asia Pte Ltd
09.2012 - 10.2018
- Supporting broking of with all class of business, including Property, Engineering, Casualty, Marine, Crops and Life & Health.
- Preparing of Slip and Information Schedule from Client raw data and business portfolios.
- Perform data Analysis and prepare claim statistics
- Requesting Reinsurers for Quotes on Treaty both for new and renewal
- Placing Treaty Business with Reinsurers
- Confirming Signed Lines to Reinsurers
- Preparing and checking contracts / endorsements / invoices – working independently to provide excellent service
- Liaising with Client and Reinsurers for Special Acceptances
- Maintaining Renewal Database
- Update reinsurance placement activity on broker systems
- Cover nothing and ensuring Compliance checklist for Contract Certainty
- Work with internal departments to ensure prompt billing and timely issuance of documentation
- Collaborate with internal departments to manage credit control for outstanding payments
- Work with internal departments to ensure prompt billing and timely issuance of documentation
- Collaborate with internal departments to manage credit control for outstanding payments
- Reinsurance Treaty Department
Manager
Lockton Re
03.2012 - 07.2012
- Working as a Manager in Facultative Dept. Placing Fac business worldwide from Philippines, Thailand, Korea, India and Mauritius. Assisting the Director in day to day running of business, preparing placing slips, wordings, and endorsements Working closely with London, Korea, India office. Maintain good relationship with Reinsurers.
- Reason for leaving: Restructuring of manpower
Assistant Broker
JLT Re Asia
03.2011 - 02.2012
- Working as an Assistant Broker in Facultative Dept. Placing Fac business in Philippines, Indonesia, Nigeria, Vietnam and mainly USA business in local/Asia market. Assisting the Director in day to day running of business, preparing placing slips, wordings, endorsements and preparing invoice for client. Working closely with London, Australia, Vietnam and New York office.
- Reason for leaving: Restructuring of the whole business portfolio and manpower in JLT Re Fac, the associated business/transaction is being channeled to other countries therefore there is no longer a need to place through Singapore.
Senior Executive
Allianz AG, Reinsurance Branch
04.2001 - 02.2011
- Working as a Senior Executive for 10 years in a Treaty Division for the day to day running of Asia Pacific business, including support & assisting in underwriting including pricing and reviewing offers, Analyze business and make proposals, preparing documents, Wordings and Endorsements, liaisons with clients/brokers on business issues, keying in details to pricing tool, assisting in claim procedures, assist in Special Acceptances and organizing seminar/events (example like F1 event, Reinsurance Workshop etc.), travel arrangement and support underwriting.
- Reason for Leaving: For Career Enhancement
Underwriting Assistant
Tela Versicherung AG
05.1998 - 03.2001
- Working in a German Representative Company specialized in EEI. Assisting the team of Principles Officer, Regional Manager and Accountant. Duties including day to day running of the Business, like preparing presentation materials, preparing contract wordings, travel arrangement, mailing, phone call enquires on business products and services, petty cash, cheque issue, leasing & purchasing of office equipment, arranging for event and conduct training seminar for the company.
- Reason for Leaving: Reason for leaving Company folded up
Education
Bachelor - Business Administration in Business
University of South Australia
01.2002
Diploma - Business Administration
Singapore Productivity and Standard Board
01.2000
Skills
- Process optimization
- Report generation
- Cross-department collaboration
- Team leadership
- Process optimization
- Process execution
- Teamwork and collaboration
- Time management
- Decision-making
- Process improvement
- Problem-solving
- Proficient in computer applications
Certification
- Certificate General Insurance (Singapore College of Insurance 2003)
- Reinsurance Knowledge (Singapore College of Insurance)
- Electronics Equipment Insurance Knowledge
- Internal Underwriting training in Germany on EEI 1999
- Certificate of Completion of Leader Tips, Tactics and Advice
- Certificate of Completion of Professional Networking
- Certificate of Completion of Finance Foundations: Risk Management
- Certificate of Completion of Agile Project Leadership
- ICA Advanced Certificate in Regulatory and Financial Crime Compliance (Financial Crime) 2023 with Merit
LANGUAGES
English and Mandarin (Spoken & Written)
Cantonese, Hainanese & Hokkien (Spoken)
Accomplishments
- Cleaning up of database since implementation
- Cross Internal Auditing of team
- Understanding of other territories across worldwide Aon offices.
- Completing of project given like Checking of Third Party Codes in system to prevent Payment to unapproved Entity/Business
- Setting up SOP - Bringing standard across Globalization within the team
Timeline
Senior Executive
MSIG Insurance
11.2022 - Current
KYC Manager
HL Bank
08.2022 - 10.2022
Associate Director
Aon Reinsurance Asia Pte Ltd
10.2018 - 02.2022
Associate Director
Aon Reinsurance Asia Pte Ltd
09.2012 - 10.2018
Manager
Lockton Re
03.2012 - 07.2012
Assistant Broker
JLT Re Asia
03.2011 - 02.2012
Senior Executive
Allianz AG, Reinsurance Branch
04.2001 - 02.2011
Underwriting Assistant
Tela Versicherung AG
05.1998 - 03.2001
Diploma - Business Administration
Singapore Productivity and Standard Board
Bachelor - Business Administration in Business
University of South Australia
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