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6 days ago
Assist in management and booking of insurance technical financial data, accounting transactions and balances both for MAS Reporting and IFRS17 Reporting. Actuarial support for financial functions and other actuarial requirements from group and external consultants in collaboration other departments.
**_Main Responsibilities: _**
- Manage, collate monthly and quarterly BAU technical financial data from underlying sources of core insurance system, business intelligence database and financial system, store and manage with clear audit trails.
- Calculate monthly, quarterly, half-yearly and yearly insurance technical claims and reinsurance P&L and B/S journals and transactions (Case, IBNR, ICHE, PAD and RI). Prepare accounting entries for Gross, and Gross to Net (monthly, quarterly, yearly). Ensure technical accounting positions (B/S) and movements are consistent with underwriting system.
- Provide claims development triangles and associated technical data to DAIS actuarial partners (Hiscox Group Reserving and External Actuary) on a quarterly, and as required (ad hoc) bases. Manage and prepare monthly financial reserves reports.
- Assist in IFRS 17 BAU such as data preparation, model execution, transactional posting on monthly basis for Company, Group and regulatory requirement.
- Manage and prepare Reinsurer Statements (quarterly) together with associated technical data supports
- Submission of quarterly technical statement to reinsurers
- Resolve queries raise by reinsurers
- Manage settlement of statement of accounts with reinsurers
- Prepare accounting entries for all reinsurance transaction.
- Collate and prepare Reinsurer XoL Claims as required under the direction of Assistant Manager Finance Actuarial together with associated claims data and documents.
- Assists in develops, enhance, streamline, and automate technical insurance accounting processes and tools (budgeting and forecasting, cashflow projection etc) on an ongoing basis.
- Supports DAIS Reporting requirements with the Assistant Manager Finance Actuarial in collaboration with Assistant Manager DAIS Reporting.
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