Reinsurance Accounting Manager

1 week ago

Muntinlupa, Philippines Cobden & Carter International Full time

Overview

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 role ensures accurate recording, reconciliation, and reporting of reinsurance transactions while maintaining compliance with regulatory requirements and accounting standards.

Responsibilities
  • Manage month-end, quarter-end, and year-end reinsurance accounting processes including premium calculations, claims recoveries, and commission adjustments.
  • Manage reinsurance receivables and payables balances including Reinsurance share on Losses. Monitor the agreed Premium Payment Warranty (PPW) both for Assumed and Ceded Facultative business.
  • Handle accounting for various reinsurance arrangements including facultative, quota share, surplus, excess of loss, and catastrophe covers.
  • Preparation of Statement of Account for Inward and Outward Reinsurance (Due from and Due to) and RI Recoverable on Paid Losses and Expenses.
  • Monitor and collect facultative premiums from brokers and ceding companies.
  • Ensure proper accounting treatment for retrocession arrangements.
  • Perform reliable month-closing activities and reporting.
  • Prepare ageing reports for Due from, Due to RI and RI Recoverable accounts and establish and implement collection procedures for overdue accounts.
  • Monitor financial condition of ceding companies
  • Coordinate with external auditors and regulatory examinations
Qualifications

Bachelor's degree in accountancy/ Managerial Accounting/ Finance. A master's degree or professional certification (e.g., CPA, CFA) is a plus.
Minimum 7-10 years of progressive experience in insurance or reinsurance accounting
Knowledge of insurance accounting principles and standards
Understanding of reinsurance contracts and structures
Familiarity with regulatory frameworks (local insurance regulations)

Work Schedule

Mondays to Fridays, 8AM to 5PM (subject for extensions depends on the urgency of the request and/or deadlines)

Work Location

Madrigal Business Park, Muntinlupa

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