ECRA-FAAS-Senior-Insurance

EY GDS Assurance FAAS FSO WAM Senior/Assistant Manager

In a world thats changing faster than ever our purpose acts as our North Star guiding our more than 300000 people providing the context and meaning for the work we do every doing so we play a critical role inbuilding a better working worldfor 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 worlds 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. Youll use your professional skills and experience to make it happen so whether youre 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 youre looking to develop your individual skills whilst working in interdisciplinary and multicultural teams come join us!

The opportunity

Were 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 were dedicated to helping our clients from startups 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 thats right for you