Senior Accounting Analyst

Title:
Senior Accounting Analyst

Company:
Everest Reinsurance Company (Singapore)

Job Category:
Finance

**Job Description**:
Job Summary

The Reinsurance Technical Accounting team is primarily responsible for the handling of pro-rata treaties and has some responsibilities in respect of XOL treaties. The individual is responsible for the verification and processing of technical accounts for the Singapore branch business as well as for the Hong Kong runoff book of business and is the main liaison party with the Claims department in respect of pro-rata individual claims. This individual is also responsible for various review functions for the Technical Accounting function.

Essential Job Functions and Scope (includes but is not limited to):

- Monitor and ensure timely receipt of technical account statements for pro-rata treaties and premium adjustment statements for XOL treaties for the assigned territory. For Proportional Clean-Cut treaty, ensure Portfolio Statements are received.
- Review technical statement of accounts against treaty terms and contractual conditions and process premiums, claims paid, commission and related expenses, outstanding loss reserves into Xuber in a timely manner.
- Review calculations of profit commission, sliding scale commission, loss participation clause and related computations against treaty terms and contractual conditions and against internal accounting records to ensure validity and accuracy and process such statements. Process such commissions and expenses into Xuber in a timely manner. Discuss discrepancies/issues with underwriting team and/or brokers.
- Review contract statistics and ensure the treaties are in order before payment.
- Review weekly and monthly Financial Exception Reports and work with the TAAs to rectify any errors immediately if needed.
- Assist with any reconciliation work performed by the Credit Control Section to support collections and settlements.
- Prepare monthly analysis in respect of variances for booked written premium against prior year. (RAR report).
- Prepare quarterly analysis in respect of variances for Plan vs Actual for RAR.
- Perform various quality reviews based on reports received from Head Office: Funds Held for Cancelled Contracts, UPR, Zero Premiums, ACR/CLR and Cash Calls.
- Maintain records of all incoming Preliminary Loss Advice, Definite Loss Advice or Cash Calls for all Treaty Proportional Claims
- Keep track of any major event losses as stipulated by Claims Department in Head Office and liaise with Director, XOL Claims on all documentation and reporting of such event losses.
- Upload all the technical statements of accounts, correspondences, chasers and queries into Onbase.
- Handle any ad hoc projects as and when required by Management.

Qualifications, Education & Experience:

- Minimum 5 years’ experience in reinsurance technical accounting.
- Preferred education qualification: Bachelor’s degree in accounting, finance, or business. Minimum: Diploma in accounting, finance or business.

Knowledge, Skills & Competencies:

- Proven ability to understand reinsurance treaty contract wordings and perform required technical commission calculations.
- Strong analytical skills, attention to detail and self-driven to resolve issues.
- Confident and has strong verbal and written communication skills to manage various internal and external stakeholders.
- Adaptable to change, takes initiative and ownership and looks for ways to improve processes.
- Works well both in a team and independently to accomplish team goals and objectives.
- Able to thrive under pressure and adhere to deadlines.
- Proficient in Microsoft Excel and other basic technology skills.

Travel Requirements:

- Ability to travel locally for activities such as meetings, classes, workshops.

Working Conditions/Physical Demands:

- Office environment where the employee may sit comfortably to do the work; some walking, standing, bending, reaching and carrying of light items such as papers, books, small items; driving an automobile; requires hand-eye coordination and manual dexterity sufficient to operate a keyboard, photocopier, telephone, and other office equipment.

LI-Hybrid

Type:
Regular

Time Type:
Full time

Primary Location:
Singapore Reinsurance

Additional Locations: