Accounting Executive

The Accounting Executive will be responsible for managing and monitoring the insurance premium accounting cycle.The role focuses on ensuring the accurate recording, reconciliation, monitoring and timely settlement of premiums, including the review of bordereaux reports and supporting financial reporting. It also ensures that finance operations are performed efficiently and in compliance with applicable accounting principles and IFRS standards.The successful candidate will operate in a technology-enabled finance environment, leveraging automation tools, digital reconciliation processes and data analytics to ensure accuracy, transparency and efficiency in financial operations.SPECIFIC DUTIES AND RESPONSIBILITIES: Premium Accounting, Reconciliation & Monitoring Monitor and record premium receipts from brokersEnsure timely allocation of premium collections to the appropriate underwriting accountsPerform premium cash clearing and reconciliation between underwriting records, broker statements and bank receipts. Investigate and resolve discrepanciesTrack outstanding premiums and follow up with brokers to ensure timely settlementProcess premium settlements to participating members/insurersMaintain and reconcile Insurance Bank Accounts (IBA) monthly Bordereaux Review and ValidationReview monthly and quarterly bordereaux report and ensure completeness and accuracyValidate premium data against underwriting platform and bank records Technology & AutomationAs elseco operates a technology-driven underwriting platform, the Accounting Executive is expected to:Utilize internal digital platforms to monitor premium flowsSupport automation of reconciliation processesIdentify opportunities for process improvements and system automationWork closely with ATOM and Finance teams to improve finance workflows Compliance and ControlsEnsure adherence to IFRS accounting standards and internal finance policiesMaintain appropriate documentation for audit and regulatory purposesSupport internal and external audits relating to premium accountingEnsure compliance with DFSA regulatory reporting requirements where applicable Month End Close Support Assist in the monthly closing of books to ensure all entries are entered in the system specifically the Insurance Bank Account (IBA) account inwards and outward transactions Assist in the preparation of financial statements & management reports Other tasked assignedRequirements 3 to 5 years of relevant accounting experience, ideally within insurance, reinsurance, an MGA, or an insurance broker Preferably fully qualified ACA/ACCA/CIMA/CPA (or equivalent finance related qualification) Ability to work in a fast-paced and technology-driven environment Ability to manage multiple deadlines and priorities Strong analytical and reconciliation skills High level of accuracy and attention to detail Strong communication skills with internal teams and external parties Computer literacy with good PowerPoint and Excel skills are expected Solid understanding of accounting systems, particularly SAP, is an advantage