وصف الوظيفة
Role Overview
Accounting Executive at Elseco Limited. The role manages and monitors the insurance premium accounting cycle, ensuring accurate recording, reconciliation, monitoring and timely settlement of premiums.
Role Purpose
To operate in a technology-enabled finance environment, managing the complete premium accounting cycle from receipt through settlement. The role ensures accurate financial recording, compliance with IFRS standards and applicable accounting principles, and efficient finance operations through automation tools, digital reconciliation processes and data analytics.
Key Responsibilities
Premium Accounting, Reconciliation & Monitoring
- Monitor and record premium receipts from brokers.
- Ensure timely allocation of premium collections to appropriate underwriting accounts.
- Perform premium cash clearing and reconciliation between underwriting records, broker statements and bank receipts.
- Investigate and resolve discrepancies.
- Track outstanding premiums and follow up with brokers to ensure timely settlement.
- Process premium settlements to participating members and insurers.
- Maintain and reconcile Insurance Bank Accounts (IBA) monthly.
Bordereaux Review and Validation
- Review monthly and quarterly bordereaux reports and ensure completeness and accuracy.
- Validate premium data against underwriting platform and bank records.
Technology & Automation
- Utilize internal digital platforms to monitor premium flows.
- Support automation of reconciliation processes.
- Identify opportunities for process improvements and system automation.
- Work closely with ATOM and Finance teams to improve finance workflows.
Compliance and Controls
- Ensure adherence to IFRS accounting standards and internal finance policies.
- Maintain appropriate documentation for audit and regulatory purposes.
- Support internal and external audits relating to premium accounting.
- Ensure compliance with DFSA regulatory reporting requirements where applicable.
Month End Close Support
- Assist in monthly closing of books to ensure all entries are recorded in the system, specifically Insurance Bank Account (IBA) account inwards and outward transactions.
- Assist in preparation of financial statements and management reports.
- Execute other assigned tasks.
Qualifications & Experience
- 3 to 5 years of relevant accounting experience, ideally within insurance, reinsurance, an MGA, or an insurance broker.
- Preferably fully qualified ACA, ACCA, CIMA, CPA or equivalent finance-related qualification.
Skills & Competencies
- Ability to work in a fast-paced and technology-driven environment.
- Ability to manage multiple deadlines and priorities.
- Strong analytical and reconciliation skills.
- High level of accuracy and attention to detail.
- Strong communication skills with internal teams and external parties.
- Computer literacy with strong Excel and PowerPoint skills.
- Solid understanding of accounting systems, particularly SAP, is an advantage.
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