Purpose of Job
To manage and oversee reinsurance accounts receivable processes, ensuring timely collection of premiums and recoveries, accurate reconciliation of accounts, and compliance with company policies and regulatory requirements. The role works closely with brokers, reinsurers, and internal stakeholders to support healthy cash flow and minimize outstanding balances.
Key Responsibilities
Accounts Receivable & Fund Receipting
- Monitor and ensure timely receipt of premiums and recoveries from clients, brokers, and reinsurers in accordance with contractual terms.
- Coordinate closely with the Credit Control (CC) team on payment breakdowns to ensure accurate and efficient receipting.
- Verify, record, and reconcile all incoming funds promptly to maintain accurate financial records.
Unidentified Cash Management
- Investigate unidentified or unallocated cash balances to determine source and correct allocation.
- Work with Finance and CC teams to resolve discrepancies and ensure proper posting of funds.
- Maintain clear documentation to support audit and compliance requirements.
Monitoring, Reporting & Escalation
- Track outstanding receipting balances on a weekly basis and maintain updated records for management reporting.
- Escalate unresolved collection or receipting issues to the CC team in writing, including status updates and recommended actions.
Reinsurance Income Matching (CAB)
- Match reinsurance income recorded in CAB with actual receipts to ensure proper reconciliation.
- Identify mismatches or unallocated items and resolve them promptly with relevant stakeholders.
- Prepare and maintain reconciliation reports for management review and audit purposes.
Billing & Month‑End Support
- Notify the CC team of outstanding billing items and follow up to ensure timely resolution.
- Support month‑end closing activities, including statement reconciliations and preparation of required reports or documentation.
Compliance
- Ensure compliance with all applicable Company and/or Group policies and procedures.
- Maintain accurate records and deal with correspondence appropriately.
Representing the Company
- Perform any other reasonable duties as required.
Knowledge and Experience
- Bachelor's degree in Accounting, Finance, or a related field.
- Experience in accounts payable including general ledger or a similar finance role.
- Excellent attention to detail and accuracy, able to work under pressure.
- Effective communication and interpersonal skills.
- Ability to work independently and prioritize tasks in a fast-paced environment.
