A leading insurer is seeking for a Technical Accountant to support the review, management and booking of insurance technical financial data, accounting transactions and balances, technical financial reporting and servicing actuarial review requirements
Main Responsibilities:
- Review, collate, manage and store insurance financial technical data from underlying sources of core insurance system, business intelligence database and financial system, with clear audit trails
- From this data and transaction interfaces apply the necessary technical reviews, checks and calculations to generate the required monthly, quarterly 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
- Generate monthly statement of P&L movement
- Generate monthly reconciliation statement of Balance Sheet positions
- Develops, enhance, streamline and automate technical insurance accounting processes and tools on an ongoing basis
- Provide claims development triangles and associated technical data to actuarial partners on a quarterly, and as required (ad hoc) bases working closely with Underwriting function
- Manage and prepareReinsurer Statements (quarterly) together with associated technical data supports (eg claimsbordereau)
- 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
- Develop with colleagues, technical insurance transactional cash-flow models for 12 months rolling
- Assist in control, budgeting and forecasting process on technical insurance data, developments, balances and other forward-looking technical data forecast and cash-flows; including run-off management
- Maintain on-going accounting positions of technical reserves by Accident Year and Underwriting Year inside the accounting system and ensure consistent with underwriting system
- Manage and prepare monthly financial reserves reports to Head of Finance and CFO
Experience
- 5 years general insurance actuarial or technical financial accounting experience in general insurer managing technical accounts
- Familiar with Singapore technical general insurance accounting, reinsurance and GAP including ICHE, PAD accounting