Process entails preparation of local GAAP adjustment journals for APAC, EMEA and LATHAM countries for an insurance client.
Work on period end close cycle Month-end/Quarter-end/Annual for local books of various countries
Working knowledge on GAAP consolidation cycle and ability to prepare consolidation financials and provide commentary for Group consolidation under guidance
This role involves overseeing the Bordeaux processing system, a proprietary tool or framework used for processing insurance premiums/claims, payments and financial records.
This role involves managing cash from MGA, Commission to Agency, Cash to Insurer, Claims Vitesse - Fund movement.
Reconcile the general ledger accounts, calculating appropriate adjustments and provisions and booking them to the ledger upon approval, performing intercompany netting, and preparing relevant financial reports (income statement, balance sheet, cash flow) for Leadership review
Essential Functions
Requires the knowledge and ability to prepare Journals and Reconciliations, investigate problems and organize projects
Insurance accounting regulatory reporting experience and US GAAP and IFRS knowledge preferred.
Experience with insurance industry standards, accounting regulation and reporting requirements.
Organizational Relationships
Reports To : Manager Supervises : NIL
Skills
Technical Skills
Chartered Accountant, CPA, CFA or equivalent with 4-6 years experience.
B. Com with strong practical experience in reporting for more than 7-9 years.
Process Specific Skills
Should have good understanding of GAAP accounting principles and procedures.
Requires the knowledge and ability to prepare Journals, Reconciliations (Loss Fund Reconciliation, Bank reconciliations) and related reports, investigate problems and organize projects
Insurance accounting regulatory reporting experience or US GAAP/IFRS knowledge preferred.
Required strong attention to detail, expertise in Insurance financial, and deep understanding of accounting principles related to Insurance operations like - Bordereau processing, Claims & Reserves, Policy premium, reinsurance accounting, Audit support.
Manage cash from MGA, Profit commission payments & expenses.
Ability to understand the significance of various activities in a statutory/GAAP accounting close cycle and deliver results accordingly.
Soft Skills (Desired)
Must demonstrate effective and diplomatic oral and written communication skills
Strong time management and organization skills
Effective training/support to executive/ Sr. executive /New joiners
Soft Skills (Minimum)
Self-disciplined and result oriented
Ability to multitask
Ability to work effectively as part of a team
Commitment and drive for results
Strong analytical skills
Ability to understand and question established process guidelines to bring about possible process improvements
Ability to pay great attention to detail especially during processing of transactions
Education Requirements
Chartered Accountant, CPA, CFA or equivalent with 4-6 years experience.
B. Com with strong practical experience in reporting for more than 7 - 9 years
Work Experience Requirements
4+ years of experience in technical accounting or reporting area preferably with an insurance company.
Should have good understanding of GAAP accounting principles and procedures.
