A leading insurer is seeking for a Technical Accountant to support the review, management and booking of insurance technical financial data, accounting transactions and balances, technical financial reporting and servicing actuarial review requirements

Main Responsibilities:

• Review, collate, manage and store insurance financial technical data from underlying sources of core insurance system, business intelligence database and financial system, with clear audit trails

• From this data and transaction interfaces apply the necessary technical reviews, checks and calculations to generate the required monthly, quarterly and yearly insurance technical claims and reinsurance P&L and B/S journals and transactions (Case, IBNR, ICHE, PAD and RI). Prepare accounting entries for Gross, and Gross to Net (monthly, quarterly, yearly)

• Ensure technical accounting positions (B/S) and movements are consistent with underwriting system
  • Generate monthly statement of P&L movement
  • Generate monthly reconciliation statement of Balance Sheet positions

• Develops, enhance, streamline and automate technical insurance accounting processes and tools on an ongoing basis

• Provide claims development triangles and associated technical data to actuarial partners on a quarterly, and as required (ad hoc) bases working closely with Underwriting function

• Manage and prepareReinsurer Statements (quarterly) together with associated technical data supports (eg claimsbordereau)
  • Submission of quarterly technical statement to reinsurers
  • Resolve queries raise by reinsurers
  • Manage settlement of statement of accounts with reinsurers
  • Prepare accounting entries for all reinsurance transaction

• Develop with colleagues, technical insurance transactional cash-flow models for 12 months rolling

• Assist in control, budgeting and forecasting process on technical insurance data, developments, balances and other forward-looking technical data forecast and cash-flows; including run-off management

• Maintain on-going accounting positions of technical reserves by Accident Year and Underwriting Year inside the accounting system and ensure consistent with underwriting system

• Manage and prepare monthly financial reserves reports to Head of Finance and CFO

Experience

• 5 years general insurance actuarial or technical financial accounting experience in general insurer managing technical accounts
• Familiar with Singapore technical general insurance accounting, reinsurance and GAP including ICHE, PAD accounting