Job Description

I. 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.

II. 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
• III. 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)
• IV. WORK SCHEDULE
• Mondays to Fridays, 8AM to 5PM (subject for extensions depends on the urgency of the request and/or deadlines)
• V. WORK LOCATION
• Madrigal Business Park, Muntinlupa 
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