Financial Operations Specialist - Payments & Disbursements

THE COMPANY

Singlife Philippines is a mobile-first life insurance company on a mission to make financial independence achievable for every Filipino.

Through modern technology, we provide insights, guidance, and solutions—all via mobile devices—so Filipinos can get the right financial protection when they need it. From emergencies and loss of income to high medical bills and future goals like education or retirement, Singlife ensures money is there when it matters most.

As a subsidiary of Singlife Singapore, we combine the agility of a start-up with the strength of a trusted regional brand. Through our growing portfolio of partnerships,including trusted platforms like GCash, AUB's HelloMoney, and Hello Pag-IBIG, we're making meaningful insurance more accessible to the wider market.

At Singlife, we're not just building products. We're democratizing access to financial protection, one Filipino at a time.

JOB OVERVIEW

The Financial Operations Specialist - Payments & Disbursements is responsible for the accurate, timely, and secure processing of customer disbursements, claims payouts, withdrawals, refunds, vendor invoices, and partner payments. The role ensures that all outbound payments are processed in accordance with approved authorizations, established service level agreements, internal controls, and regulatory requirements.

The position supports both customer payment operations and corporate payment activities by validating transactions, executing payment instructions, reconciling completed transactions, and resolving payment exceptions. The role works closely with Customer Care, Claims, Finance, Procurement, Compliance, Banking Partners, and other internal stakeholders to ensure a seamless payment experience and effective management of financial obligations.

RESPONSIBILITIES & DUTIES

Customer Payments and Disbursements

• Process customer disbursements, withdrawals, claims payouts, refunds, premium refunds, and other approved customer payment transactions.
• Execute payouts to customers Singlife accounts or approved nominated bank accounts within established turnaround times.
• Validate payment instructions, customer details, beneficiary information, and supporting documents prior to processing.
• Ensure payment requests are complete, accurate, properly approved, and compliant with company policies.
• Monitor daily transaction queues and prioritize payments in accordance with service level agreements.

Vendor and Partner Payments

• Process approved payments for vendor invoices, service providers, business partners, commissions, rebates, and other corporate payment obligations.
• Review invoices, contracts, billing statements, and supporting documents to ensure completeness, accuracy, and proper approval.
• Validate supplier and partner banking information before payment execution.
• Ensure payments are released within agreed payment terms and approved schedules.
• Coordinate with Finance, Procurement, Accounting, and business units to resolve invoice discrepancies, payment holds, and vendor inquiries.
• Monitor outstanding payment obligations and escalate overdue or exceptional items as necessary.

Payment Verification and Operational Controls

• Perform account validation, beneficiary verification, and payment reviews before releasing funds.
• Ensure adherence to maker-checker controls, approval matrices, segregation of duties, and delegated authority requirements.
• Identify, investigate, and escalate duplicate, erroneous, suspicious, or potentially fraudulent transactions.
• Maintain strict confidentiality and security of customer, vendor, and partner payment information.
• Ensure all payment processing activities comply with documented operational procedures and control requirements.

Reconciliation and Exception Management

• Reconcile customer payouts, vendor payments, and partner disbursements against payment systems, financial records, bank confirmations, and general ledger reports.
• Investigate rejected transactions, returned payments, reconciliation breaks, and payment discrepancies.
• Coordinate with banks and internal stakeholders to resolve payment-related issues promptly.
• Maintain accurate and complete records of all processed transactions and supporting documentation.
• Prepare operational reports relating to payment volumes, exceptions, and reconciliation outcomes.

Stakeholder Support

• Provide support to Customer Care, Claims, Finance, Procurement, Compliance, and other business units on payment-related inquiries.
• Respond to requests regarding payment status, transaction history, and payment investigations.
• Liaise with banking partners and payment service providers for payment execution and issue resolution.
• Escalate operational risks, system issues, and unresolved payment exceptions to management.

Compliance and Continuous Improvement

• Ensure compliance with internal policies, regulatory requirements, Anti-Money Laundering (AML) requirements, data privacy regulations, and operational standards.
• Support internal audits, external audits, compliance reviews, and control testing activities.
• Participate in process improvement initiatives to enhance payment efficiency, controls, and customer experience.
• Assist in the development and maintenance of operating procedures, process documentation, and work instructions.
• Contribute to risk mitigation initiatives and operational excellence programs.

QUALIFICATIONS

Education

• Bachelor's Degree in Accounting, Finance, Banking, Business Administration, Economics, or a related field.

Experience

• Minimum of 2 years relevant experience in financial operations, payment processing, accounts payable, banking operations, insurance operations, shared services, fintech, or related financial services functions.
• Experience handling customer payouts, vendor payments, invoice processing, fund transfers, or payment reconciliations is preferred.
• Experience in insurance, digital banking, fintech, or financial services organizations is an advantage.

Specific Skills

• Strong understanding of payment processing, disbursement operations, and accounts payable processes.
• Knowledge of banking transactions, electronic fund transfers, and payment reconciliation.
• Familiarity with financial controls, approval workflows, and operational risk management.
• Intermediate to advanced proficiency in Microsoft Excel and financial systems.
• Ability to investigate and resolve payment discrepancies and exceptions.
• Working knowledge of AML, fraud prevention, KYC, and data privacy requirements is advantageous.

Personal Characteristics

• High level of accuracy and attention to detail.
• Strong analytical and problem-solving skills.
• Demonstrates accountability, integrity, and professionalism.
• Able to manage multiple priorities while meeting deadlines and service levels.
• Strong communication and stakeholder management skills.
• Collaborative and customer-focused mindset.
• Ability to work effectively in a fast-paced, highly controlled operational environment.

Certifications and Licenses

• Professional certifications related to finance, banking, accounting, operations, or risk management are advantageous but not required.