Intern - FFWA Strategic Development and Solutions SG

Job Description:

Bank of Singapore opens doors to new opportunities.

At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group's global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!

Internship project scope

To review the existing bank agreements with insurance partners, standardise the contractual terms, and to build a centralised agreement database to improve governance, efficiency and risk management for partner engagement.

* Identify and collate all existing bank-insurance partner agreements (including both referral and financing partners)
* Review current contract to understand:
* Commercial terms
* Legal clauses
* Roles and responsibilities of the bank and the insurance partner
* Compliance and regulatory requirements, if any
* Termination clauses
* Highlight any inconsistencies and gaps
* Design and build a centralised agreement database to store and manage all agreements and supplemental agreements
* Define data fields, such as:
* Insurance partner name
* Agreement type
* Effective date
* Key commercial and legal terms
* Termination clause