métier – Strategic HR Solutions is looking for a Reinsurance Finance Officer for one of our leading insurance clients in the UAE.
The role will be responsible for supporting reinsurance finance and accounting activities, including treaty and facultative accounting, reconciliations, settlements, premium and claims recoveries, and financial reporting.
Key Responsibilities
- Manage reinsurance accounting activities for Treaty and Facultative Reinsurance.
- Maintain and reconcile ceded premiums, commissions, claims recoveries, receivables and payables.
- Prepare and reconcile Statements of Accounts (SOAs) with reinsurers and internal ledgers.
- Prepare treaty technical accounts and supporting schedules for proportional and non-proportional/XOL arrangements.
- Monitor outstanding reinsurance balances and follow up on premium collections and claims recoveries.
- Support timely processing and settlement of reinsurance accounts in line with agreed treaty terms.
- Identify and resolve booking and reconciliation differences in coordination with underwriting, claims, reinsurance and finance teams.
- Support monthly, quarterly and annual financial closing, including reconciliations, journal entries and control checks.
- Prepare ageing reports, statistical reports and financial analysis related to reinsurance business.
- Assist with cash calls, reserve calculations and reserve releases, where applicable.
- Reconcile reinsurance accounts with the General Ledger, branch records and associate company accounts.
- Ensure accurate recording and reporting of multi-currency reinsurance transactions.
- Coordinate with reinsurers, brokers and internal stakeholders to resolve accounting and settlement queries.
- Maintain accurate documentation and audit trails for all reinsurance transactions.
Requirements
- Bachelor’s degree in Accounting, Finance, Commerce, Economics or a related field.
- 3–7 years of relevant experience in insurance/reinsurance finance or accounting.
- Hands-on experience in reinsurance accounting is essential.
- Strong understanding of Treaty and Facultative Reinsurance.
- Exposure to Proportional and Non-Proportional/XOL reinsurance accounting is preferred.
- Experience in reinsurance reconciliations, technical accounts, premium and claims accounting, and settlements.
- Good knowledge of accounting principles and financial controls.
- Strong proficiency in Microsoft Excel and MS Office.
- Experience with insurance/reinsurance ERP or accounting systems will be an advantage.
- Strong analytical, communication and problem-solving skills.
- Ability to work effectively under pressure and meet strict reporting deadlines.
- UAE insurance experience will be an added advantage.
