Insurance Audit Associate - DetailOriented & Impactful

Asiacruit; Philippines; On-site; PHP 360,000 - 480,000; Full time

Job summary

Asiacruit in the Philippines is seeking an Audit Associate to support audit, accounting, and financial reporting activities within the insurance and accounting industry. You will help with planning, testing, documentation, account reconciliations, and preparing audit workpapers and reports.

The role requires a solid foundation in accounting and auditing, strong attention to detail, and the ability to analyze financial information. Collaboration with cross-functional teams is essential.

Qualifications

• Bachelor's degree in Accounting, Finance, Business Administration, or related field.
• 1+ year of experience in auditing, accounting, financial reporting, internal controls, or related role.
• Working knowledge of accounting principles, double-entry accounting, general ledger activity, and financial statements.
• Basic understanding of insurance accounting transactions, including premiums, commissions, claims, reserves, recoveries, and policy-related payments.
• Proficiency with Microsoft Excel, including formulas, sorting, filtering, pivot tables, and basic data analysis.
• Experience using accounting software, audit platforms, enterprise resource planning systems, or financial reporting tools.
• Strong English communication skills, both written and verbal.

Responsibilities

• Assist with planning and executing financial, operational, compliance, and internal control audit procedures.
• Review general ledger activity, trial balances, account schedules, financial statements, and supporting documentation.
• Perform audit testing for cash, accounts receivable, accounts payable, premiums, commissions, claims, reserves, investments, and other financial statement accounts.
• Prepare audit workpapers that clearly document procedures performed, evidence obtained, findings identified, and conclusions reached.
• Conduct sample testing, transaction testing, analytical reviews, confirmations, and other audit procedures as assigned.
• Compare financial information to source documents, accounting records, policies, contracts, and applicable reporting requirements.
• Identify unusual transactions, inconsistencies, control gaps, and potential financial reporting risks for review by senior team members.
• Assist with audits of insurance-related transactions, including premiums, commissions, claims payments, recoveries, refunds, policyholder balances, and carrier settlements.
• Review policy, billing, claims, underwriting, and payment records for completeness, accuracy, and consistency.
• Test insurance receivables, payables, loss activity, claims reserves, commission calculations, and policy-related accounting entries.
• Reconcile insurance subledgers, carrier statements, policy administration systems, claims systems, and general ledger accounts.
• Investigate discrepancies between accounting records, operational reports, policy records, claims information, and supporting documentation.
• Coordinate with accounting, finance, underwriting, claims, billing, and operations teams to obtain information and resolve audit questions.
• Maintain accurate audit evidence and documentation for policyholders, customers, vendors, carriers, and other business partners.
• Assist with the review of balance sheets, income statements, cash flow information, trial balances, and financial statement disclosures.
• Perform account reconciliations and analyze reconciling items, unusual balances, aged items, and significant fluctuations.
• Prepare account rollforwards, lead schedules, transaction summaries, aging reports, and other audit schedules.
• Support the review of journal entries, accruals, estimates, reclassifications, adjustments, and period-end cutoff activities.
• Perform variance analysis and research changes in account balances, financial ratios, premiums, claims, expenses, and other key metrics.
• Assist with month-end, year-end, statutory, and regulatory reporting activities as assigned.
• Evaluate the design and operating effectiveness of accounting and operational controls.
• Document business processes, control activities, risks, walkthroughs, and test results.
• Assist with testing segregation of duties, approval processes, access controls, reconciliations, and review procedures.
• Identify control deficiencies, process weaknesses, compliance issues, and opportunities for improvement.
• Support audits and reviews conducted in accordance with company policies, professional standards, applicable regulations, and reporting requirements.
• Maintain confidentiality of financial, customer, policyholder, claims, employee, and business information.
• Request, organize, index, and review audit evidence and client-provided documentation.
• Follow up on outstanding information requests and communicate open items to appropriate team members.
• Prepare clear summaries of audit findings, exceptions, recommendations, and unresolved issues.
• Assist with drafting management letters, audit reports, schedules, and presentations.
• Maintain organized electronic files and ensure workpapers meet documentation and quality standards.
• Participate in audit status meetings, team discussions, client communications, and process improvement initiatives.
• Support special projects, financial investigations, compliance reviews, and other accounting or audit activities as assigned.

Skills

Strong English communication

Attention to detail

Analytical skills

Organizational skills

Education

Bachelor's degree in Accounting, Finance, Business Administration, or related field

Tools

Caseware

CCH

QuickBooks

NetSuite

SAP

Oracle

Microsoft Dynamics

Job description

Asiacruit in the Philippines is seeking an Audit Associate to support audit, accounting, and financial reporting activities within the insurance and accounting industry. You will help with planning, testing, documentation, account reconciliations, and preparing audit workpapers and reports.

The role requires a solid foundation in accounting and auditing, strong attention to detail, and the ability to analyze financial information. Collaboration with cross-functional teams is essential.