Job Summary
To support the preparation of the company's reinsurance accounts for regulatory & Reinsurance Treaty compliance.
Job Description
Prepare Reinsurance reports.
Prepare Reinsurance bordereaux for premiums, commission, and claims
Prepare reconciliations relating to Facultative and other various Programs and prepare quarterly reinsurance statements for reinsurers
Reconcile reinsurers' statements to account for Ledger balances.
Reconcile Reinsurance balances with the respective participants on the treaty and Facultative arrangements.
Prepare and Evaluate Incurred but not reported (IBNR) Reports for each class of business
Prepare premium and claims trend analysis and exceptional reports
Analyze the claims outstanding report as required.
Prepare and provide data for external actuarial valuations and liaise with the external Actuary.
Support in the preparation of Annual Financial Statements at end of the financial reporting period.
Support in the preparation of a detailed Annual budget that is aligned with the Strategy.
Prepare monthly reinsurance Bordereaux
Perform monthly reconciliation of reinsurance entries with the ledger balances.
Maintain Accounting schedules leading to period balance recognition into the General ledger.
Prepare monthly, quarterly, and annual compliance reports for submission to the regulator and reinsurers.
Education and Experience Required
Bachelor's degree in accounting, Finance, Economics, Business, or a related discipline.
Professional qualification(s) e.g. ACCA, CPA (K) or equivalent is an added advantage
At least 5 years' experience in reinsurance and credit management in a busy finance institution, preferably a General Insurer.
Skills in reinsurance accounting, claims and underwriting of general insurance
Education
Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)