Reinsurance Accounting Manager

12 hours ago

Muntinlupa, Philippines WHR Global Consulting Full time

POSITION TITLE: Reinsurance Accounting Manager
WORK LOCATION: Madrigal Business Park, Muntinlupa (Makati/Alabang Branch)
EMPLOYMENT STATUS: Full-time | Day Shift (Mondays to Fridays, 8AM to 5PM)

JOB SUMMARY:
The Reinsurance Accounting Manager will be in charge of the financial accounting and reporting functions related to reinsurance operations for non-life insurance products. This critical role ensures the accurate recording, reconciliation, and reporting of complex reinsurance transactions while maintaining strict compliance with regulatory requirements and accounting standards.

KEY RESPONSIBILITIES:
Accounting & Reporting: Manage month-end, quarter-end, and year-end reinsurance accounting processes, including premium calculations, claims recoveries, and commission adjustments.
Transaction Handling: Handle accounting for various reinsurance arrangements, including facultative, quota share, surplus, excess of loss, and catastrophe covers.
Receivables/Payables Management: Manage reinsurance receivables and payables balances, including Reinsurance share on Losses. Monitor the agreed Premium Payment Warranty (PPW) for both Assumed and Ceded Facultative business.
Collections: Monitor and collect facultative premiums from brokers and ceding companies. Prepare ageing reports for Due from, Due to RI and RI Recoverable accounts and establish collection procedures for overdue accounts.
Financial Oversight: Ensure proper accounting treatment for retrocession arrangements and monitor the financial condition of ceding companies.
Documentation: Prepare Statement of Account for Inward and Outward Reinsurance (Due from and Due to) and RI Recoverable on Paid Losses and Expenses.
Compliance & Audit: Coordinate with external auditors and regulatory examinations; ensure all processes meet local insurance regulations and accounting standards.

QUALIFICATIONS:
Education: Bachelor’s degree in Accountancy, Managerial Accounting, or Finance. A master’s degree or professional certification (e.g., CPA, CFA) is a plus.
Experience: Minimum 7–10 years of progressive experience in insurance or reinsurance accounting.
Expertise: Strong knowledge of insurance accounting principles and standards.
Industry Knowledge: Deep understanding of reinsurance contracts, structures (e.g., facultative, quota share), and familiarity with local regulatory frameworks.

APPLICATION NOTE:
Candidates with relevant experience and qualifications will be contacted for an online application/interview.

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