Reinsurance Accountant - First Assurance Kenya at Absa Bank Limited

Job Summary

To 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)