Reinsurance Accounting Manager

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

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