Maintain accounts receivables and accounts payables for all reinsurance areas, update reinsurance records management systems and master listings periodically, and submit a monthly/quarterly aging report for receivables/payables to management for evaluation of reinsurance business.
Ensure the timely and accurate booking, control, and collection of ceded balances, and inform management of progress and/or problems on a regular basis.
Ensure the payment of reinsurance premiums, clear or adjust premium booking differences, and process cash receipts on a timely basis (within the terms of the reinsurance agreements).
Settle reinsurance accounts on a monthly, bi-monthly, or quarterly basis, as necessary.
Reduce the number of suspense items on reinsurers- statements.
Trace discrepancies in the premium or loss bookings through the system, and advise various departments regarding corrective action.
Act as a liaison between reinsurers and claims team when difficulties arise regarding collection.
Handle routine problems and inquiries directly related to the reinsurance accounting function.
Follow-up with underwriters and reinsurers to resolve booking differences, and act as a resource for external reinsurers
A Leading General Insurance Company based at Mumbai is looking out for Manager Reinsurance Accounting in their Corporate Finance and Accounts team.
Qualification &Experience :
MBA Finance with 6-9 years of experience in Re-Insurance Accounting only
Working knowledge of accounting procedures. (i.e. Reconciliations, debits and credits, journalizing and posting).
Thorough knowledge of the insurance industry and reinsurance accounting.