Reinsurance Accountant (IFRS 17) (ID: 679287)

PERSOLKELLY SINGAPORE PTE. LTD.; Singapore; On-site; SGD 90,000 - 120,000; Full time

Job summary

A leading company is seeking an experienced professional in financial accounting and reinsurance. The role involves ensuring compliance with GAAP, managing financial reporting, and enhancing accounting processes. The ideal candidate will have a degree in finance/accounting, professional certifications, and a solid background in insurance. This position offers the chance to develop skills and play a critical role in financial efficiency and reporting amid complex regulatory environments.

Qualifications

• Minimum 6 years of experience, 3 years Big Four external audit preferred.
• Experience with public companies and IFRS 17 is an advantage.
• Knowledge of GAAP for reinsurance transactions preferred.

Responsibilities

• Assist in monthly and quarterly reinsurance premiums and claims reporting.
• Prepare quarterly and annual returns and liaise with external auditors.
• Support the preparation of budgets and financial plans.

Skills

Understanding of accounting principles

Reinsurance accounting knowledge

Financial analysis

Education

Degree in business, finance, or accounting

Professional accounting designation (i.e., CA, ACA, CPA)

Tools

Microsoft D365

SICS reinsurance accounting systems

ResQ FR

Job description

Reporting directly to the VP, Controller – Singapore. This role is responsible for supporting certain aspects of the financial accounting, internal controls, budgeting, and financial reporting for the company.

In this role, you will have the opportunity to develop specific skillsets, exposure to operations to deepen your understanding of the business and involvement in projects to enhance the efficiency and effectiveness of reporting requirements in an increasingly complex environment.

Reinsurance Accounting

• Assist with all aspects of monthly and quarterly reinsurance premiums and claims reporting from internal business unit level reporting and legal entity review to external SEC, GAAP, and local Singapore regulatory reporting.
• Assist with maintaining an appropriate S.O.X 404 control environment for the booking of premiums, claims and related transactions in both reinsurance accounting systems and general ledger and liaising with internal audit where necessary
• Understanding of how technical balances are accounted for in our reinsurance accounting system, SICS.
• Assisting with the monthly and quarterly close of reinsurance systems
• Perform accounting reviews and analysis of reinsurance contracts to ensure appropriate GAAP accounting treatment.
• Assist with technical analysis of contracts and other FASB and SEC research.
• Perform detailed analysis and monthly/quarterly reconciliation of assumed/ceded premiums and claims to ensure a thorough understanding of reported results, troubleshooting any issue through to a successful conclusion.
• Participate in on-going refinement/improvement of business processes, analytical tools and reinsurance accounting platform ensuring the Singapore team needs are met.

Financial Accounting

• Complete for all aspects of monthly and quarterly consolidation and close processes.
• Statutory reporting - MAS ReturnsGood understanding of the various MAS regulations, specifically MAS 129 and 133
  Responsible for the preparation of quarterly and annual returns and liaise with external auditors
  
• Candidate will be responsible for the preparation of IFRS 17 figures for a branch in run-off.
• Assist with the preparation of IFRS 17 financial statements and liaise with external auditors
• Obtain a good understanding of the TB and how the figures are derived.
• Support the continued enhancement of and on-going development of various financial systems.
• Support the preparation of detailed analysis, journal entry bookings and monthly/quarterly reconciliation to the general ledger, including bank and intercompany reconciliation.
• Assist in the management of monthly and quarterly general ledger entries.
• Assist with the preparation of budgets and other financial plans for management information and group reporting.

Candidate Qualifications and requirements

• Degree is essential with emphasis on business, finance, and accounting.
• Professional accounting designation preferable (i.e., CA, ACA, CPA)
• Minimum 6 years of experience with 3 years of Big Four external audit experience or equivalent. Experience working with General Insurance organizations as an auditor or accountant is preferred.
• Knowledge of generally accepted accounting principles (GAAP), and an understanding of GAAP for reinsurance transactions is preferred.
• Experience with public companies, S.O.X 404 and IFRS 17 is preferred.
• Experience with Microsoft D365, SICS reinsurance accounting systems and ResQ FR is advantageous
  
  Interested candidates who wish to apply for the advertised position, please click on “Apply”. We regret that only shortlisted candidates will be notified.
  
  EA License No.: 01C4394 (PERSOLKELLY Singapore PTE LTD)
  
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