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Join EY and help to build a better working world.
EY GDS – Assurance FAAS – FSO – WAM Senior/Assistant Manager
In a world that's changing faster than ever, our purpose acts as our North Star guiding our more than 300,000 people – providing the context and meaning for the work we do every day. In doing so, we play a critical role in
building a better working world for our people, clients, and communities. Thanks to our innovative services in auditing, tax consulting as well as transaction and management consulting, we proudly drive our clients into the future.
From small businesses to some of the world's best-known brands, our clients count on reliable financial statements, information, and processes to inform their ongoing strategies. More than ever, business is about interpreting and reacting to complex data — and they look to us for advice and services they can trust every time. You'll use your professional skills and experience to make it happen, so whether you're looking for a long-term, or are interested in progressing on to other areas, this is a great place to be. As the only one of the Big 4 with a specialist cross-border practice dedicated to the Financial Services Sector, we offer our clients seamless, consistent, and high-quality services around the globe. With our Assurance Services, we strengthen public confidence in global capital markets and promote sustainable growth. If you're looking to develop your individual skills whilst working in interdisciplinary and multicultural teams, come join us!
The opportunity
We're looking for incumbents who is responsible for responsible for overseeing day-to-day production activities in reinsurance accounting, ensuring accurate processing of ceded and assumed transactions, compliance with EY standards, and timely delivery of financial outputs. This role emphasizes operational excellence, process efficiency, and collaboration across finance and business teams.
Your Key Responsibilities
- Production Oversight: Manage end-to-end processing of ceded and assumed premiums, fees and administrative charges, commissions, losses, and IBNR results within the reinsurance system.
- Treaty Analysis & Reporting: Review and analyse reinsurance treaties to provide material inputs for accounting and reporting. Support in preparation of closing statements for Day 1 activities.
- Transaction Accuracy: Ensure accurate accounting for premiums, claims, commissions, and reserves in compliance with GAAP/STAT standards and company policies.
- Payment Processing: Execute reinsurance settlements and payments in line with treaty terms and internal controls, establish Day 1 and periodic settlement processes, and ensure timely communication, approval, and wiring of settlements, including accurate accounting for interest on delayed payments
- Data Consolidation: Consolidate financial data from multiple sources to ensure accuracy and completeness for internal and external reporting
- Financial Reporting: Prepare and review quarterly and annual financial statements for all reinsurance transactions, ensuring reports include detailed analysis of premiums, claims, commissions, reserves, and collateral positions, and provide variance analysis, trend insights, and commentary to support management decision-making.
- Regulatory Compliance: Assist with statutory filings and regulatory reporting, including preparation of Reinsurance Schedules and foot notes while ensuring full compliance with STAT standards and company policies
- Cross-Functional Collaboration: Partner with underwriting, claims, actuarial, and other finance teams to ensure accurate and timely flow of reinsurance data.
- Collateral Management: Review and manage collateral arrangements for reinsurance contracts, ensuring compliance with treaty terms and company guidelines.
- Management Goal: Support initiatives such as team training, campaign execution, and solution development to enhance departmental capabilities.
- SOX Control Testing: Conduct periodic testing of ceded policy data for accuracy and completeness, and develop RACI charts, RCM documentation and control matrices for new reinsurance deals to ensure robust internal controls.
- Process Documentation: Assistance in development of internal documents, processes, controls, SOPs, flow charts, checklists, etc. to ensure training and support smooth processing of transactions.
- Automation Opportunities & Solution Design: Identify scope for automation of activities and suggest tools and solutions
- Client Service Excellence: Deliver high-quality client service by managing daily project activities, addressing requests promptly, and maintaining strong client relationships.
- Application of Accounting Standards & Firm Policies: Demonstrate a good understanding of accounting concepts; stay informed of professional standards and firm policies (e.g., guidelines of the EY FAAS Policy Manual); and effectively apply this knowledge to moderately difficult and/or complex client situation
Skills And Attributes For Success
- Strong knowledge of reinsurance, type of reinsurance treaty, Deposit accounting, GAAP reporting requirements, STAT reporting requirements, Types of reinsurance arrangements, Reinsurance activities, settlement process knowledge.
- Understanding of reinsurance accounting, loss reserves, premiums, and operational expenses according to statutory requirements.
- Sox Control: Good understanding on DTP, RACI, Control matrix, Process flow, Process narrative and flow charts
- Ability to work in a deadline-driven environment, manage regulatory compliance, and maintain high accuracy.
- Experience with accounting ERP software (e.g., SAP, Oracle) and reporting systems (e.g., GAIN, Wings, Cognos, Stargate & T1) will be advantageous.
- The ability to work independently in a fast-paced, dynamic team-oriented environment.
- Strong communication skills for collaboration with management, auditors, regulators, and internal stakeholders
- Analytical skills to interpret complex financial data and prepare detailed financial and regulatory reports.
- Ability and comfort level in researching client inquires and emerging issues, including regulations, industry practices and new technologies
To qualify for the role, you must have
- CA, ACCA (UK), CPA, MBA or other relevant qualification
- 3- 6 years relevant experience in Reinsurance Accounting and Reporting.
What We Look For
- Proficiency in MS – Excel, MS – Office.
- Knowledge on any Data analytics/visualisation tools will be additional advantage.
- Flexibility and willingness to travel on short notice, as necessary
- Good communication, Interpersonal, Analytical Skills & highly proactive in approach
What Working At EY Offers
At EY, we're dedicated to helping our clients, from start–ups to Fortune 500 companies — and the work we do with them is as varied as they are. You get to work with inspiring and meaningful projects. Our focus is education and coaching alongside practical experience to ensure your personal development. We value our employees, and you will be able to control your own development with an individual progression plan. You will quickly grow into a responsible role with challenging and stimulating assignments. Moreover, you will be part of an interdisciplinary environment that emphasizes high quality and knowledge exchange. Plus, we offer:
- Support, coaching and feedback from some of the most engaging colleagues around
- Opportunities to develop new skills and progress your career
- The freedom and flexibility to handle your role in a way that's right for you
EY | Building a better working world
EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.
Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.
EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.
