Reinsurance Accountant – First Assurance Kenya
locations Gitanga
Road (Absa General Insurance Co)time type Full time posted on Posted 2 Days Ago time left to apply End Date: November 30, 2024 (2 days left to apply)job requisition idR-15969778
Empowering Africa’s tomorrow, together…one story at a time.
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
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Job SummaryTo support the preparation of the company’s reinsurance accounts for regulatory & Reinsurance Treaty compliance.
Job Description
Prepare Reinsurance reports.
- Prepare Reinsurance bordereaux for premiums, commission, and claims
- Prepare reconciliations relating to Facultative and other various Programs and prepare quarterly reinsurance statements for reinsurers
- Reconcile reinsurers’ statements to account for Ledger balances.
- Reconcile Reinsurance balances with the respective participants on the treaty and Facultative arrangements.
- Prepare and Evaluate Incurred but not reported (IBNR) Reports for each class of business
- Prepare premium and claims trend analysis and exceptional reports
- Analyze the claims outstanding report as required.
- Prepare and provide data for external actuarial valuations and liaise with the external Actuary.
- Support in the preparation of Annual Financial Statements at end of the financial reporting period.
- Support in the preparation of a detailed Annual budget that is aligned with the Strategy.
- Prepare monthly reinsurance Bordereaux
- Perform monthly reconciliation of reinsurance entries with the ledger balances.
- Maintain Accounting schedules leading to period balance recognition into the General ledger.
- Prepare monthly, quarterly, and annual compliance reports for submission to the regulator and reinsurers.
Education and Experience Required
- Bachelor’s degree in accounting, Finance, Economics, Business, or a related discipline.
- Professional qualification(s) e.g. ACCA, CPA (K) or equivalent is an added advantage
- At least 5 years’ experience in reinsurance and credit management in a busy finance institution, preferably a General Insurer.
- Skills in reinsurance accounting, claims and underwriting of general insurance
Education Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)
