Reinsurance Accountant

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Aon Reinsurance Solutions is looking for a Reinsurance Accountant (Facultative) to provide support to the Brokers in reinsurance accounting and administration functions through understanding and analyzing terms and conditions, processing and reconciling all accounts.

In addition, the successful candidate is required to provide efficient and professional reinsurance claims administration and collection services nationally as well as internationally for the Reinsurance Facultative clients.

Position: Facultative Reinsurance Accountant

Location: Sandton

Closing Date: April 15th, 2022

Reference Number: AON220406-4

Responsibilities:

Technical Accounts:

Process and reconcile accounts.
Identify if the premium is proportional or non-proportional and process accordingly.
Ensure timeous collection of respective funds and check receipt thereof.
Submit an outstanding statement and respective reconciliation to Finance and match with cash received.

Check and ensure that all matching is done and paid out correctly.
Ensure cash calls are received

Follow up on outstanding balances from clients and/ or Reinsurers.
Reconcile balances and payments made and payor refund accordingly.
Provide age analysis and SLA audit reports to management.

Claims

Capture claims on the in-house system and actively monitor the claims diary, client claim register, and claim files.
Notify Reinsurers of claims.
Liaise with Brokers regarding cash calls and/ or similar matters raised by clients.
Recover claims from Reinsurers and settle clients’ claims timeously.
Monitor incoming receipts and payments from clients and Reinsurers.
Liaise with the finance team on debtors’ age analysis and recon items to clear outstanding matters.

Prepare and distribute claims statistics to clients every month in an agreed format.

Requirements:

Grade 12 (matric)
Degree in Accounting or Risk Management

Experience:

Having 4 – 5 years’ Finance and Accounting experience – experience in reinsurance accounting will be a distinct advantage

Have experience in facultative claims

Have previously had the mandate to settle claims

Sound background, knowledge, and, understanding of insurance and reinsurance, with specific knowledge of Facultative

knowledge of relevant systems (RBS, GRiDS, etc.)

Have known legislation (VAT etc.)

Critical Skills:

Well-developed analytical technical and problem-solving skills

Well-developed communication skills

Well-developed influencing and negotiation skills

Well-developed interpersonal skills

Proven ability to work with and in teams

Computer literacy with advanced experience in MS Word and Excel

FAIS Compliance:

Comply with the applicable Fit and Proper provisions as set out in the Board Notice 106 of 2008 issued by the Financial Services Conduct Authority governing Financial Advisory and Intermediary Services Act, 2002 – Determination of Fit and Proper requirements for Financial Service Providers, 2008.

Have knowledge and understanding of the applicable provisions set out in the General Code of Conduct for Authorized Financial Services Providers and Representatives (as governed by the Financial Services Conduct Authority, Board Notice 80 of 2003).