Reinsurance Accounting Manager

8 hours ago

Manila, National Capital Region, Philippines WHR Global Consulting Full time ₱55,000 per year

POSITION TITLE: Reinsurance Accounting Manager

Location: Madrigal Business Park, Muntinlupa

Work Setup: Mondays to Fridays, 8:00 AM – 5:00 PM (subject to extensions depending on workload and deadlines)

Salary: Php 55,000 

Job Summary

The Reinsurance Accounting Manager will be responsible for 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.

Key Responsibilities


• Manage month-end, quarter-end, and year-end reinsurance accounting processes including premium calculations, claims recoveries, and commission adjustments.


• Oversee reinsurance receivables and payables balances, including Reinsurance Share on Losses.


• Monitor the agreed Premium Payment Warranty (PPW) for both Assumed and Ceded Facultative business.


• Handle accounting for various reinsurance arrangements such as facultative, quota share, surplus, excess of loss, and catastrophe covers.


• Prepare Statements of Account for Inward and Outward Reinsurance (Due from / 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 month-end closing activities and ensure accurate financial reporting.


• Prepare ageing reports for Due from, Due to RI, and RI Recoverable accounts; implement collection procedures for overdue accounts.


• Monitor the financial condition of ceding companies.


• Coordinate with external auditors and assist during regulatory examinations.

Qualifications


• Bachelor's degree in Accountancy, Managerial Accounting, or Finance.


• A Master's degree or professional certification (e.g., CPA, CFA) is a plus.


• 7–10 years of progressive experience in insurance or reinsurance accounting.


• Strong knowledge of insurance accounting principles and standards


• Solid understanding of reinsurance contracts and structures.


• Familiarity with local insurance regulatory frameworks.

Candidates with attached CVs and relevant experience will be considered for a phone interview.

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