Reinsurance Accounting Manager

POSITION TITLE : Reinsurance Accounting Manager

WORK LOCATION : Alabang, Muntinlupa City

WORK SETUP : Full-Time, Onsite

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 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.

– 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)