Job Purpose
The GL Accountant is responsible for maintaining the integrity of the general ledger and ensuring accurate, timely recording of financial transactions in compliance with company policies and regulatory requirements specific to the non-life insurance industry. The role collaborates closely with various teams to support operational accounting functions, reconciliations and monthly closing activities while ensuring the accuracy of key financial data.
Duties and Responsibilities
- General Ledger Management. Maintain and update the general ledger, ensuring timely and accurate recording of transactions such as premiums, claims, reinsurance and operating expenses. Record journal entries for recurring, adjusting and correcting transactions ensuring alignment with accounting standards and company policies.Perform regular reviews and reconciliations of key GL accounts, including cash, investments, premium receivables and claim liabilities.
- Regulatory Reporting. Assist in preparing and submitting periodic reports required by the Insurance Commission (IC) including but not limited to premium income reports, claims reserves, solvency margins and other required disclosures.
- Reconciliations and Controls. Reconcile GL accounts related to regulatory reporting such as statutory deposits, taxes and reserves. Ensure accuracy in mapping data for regulatory submissions and reports. Maintain detailed supporting documentation for all reconciliations and entries required for audits and regulatory reviews.
- Month-End and Year-End Close. Contribute to month-end and year-end closing activities, ensuring all GL entries and adjustments are accurate and complete.
- Compliance and Standards. Ensure compliance with PFRS and regulatory requirements specific to non-life insurance accounting.
- Process Improvements: Identify opportunities to enhance the efficiency and accuracy of GL processes and regulatory reporting workflows. Assist in implementing new accounting systems or software to address regulatory reporting needs.
- Collaboration and Communication. Coordinate with Claims, Underwriting, Reinsurance and Actuarial teams to ensure data flow into GL. Collaborate with the Tax and Financial Reporting teams for accurate tax and statutory filings.
Qualifications
- Candidate must possess at least a Bachelor's/College Degree in Accountancy or any Accounting related courses.
- CPA is an advantage.
- With minimum of 3-5 years of accounting experience, preferably in the audit or accounting of non-life insurance sector or financial services industry.
- Familiarity with ERP systems and accounting software (e.g. SAP, Oracle, or industry-specific systems) is a plus.
- Knowledge of Insurance Commission (IC) and Bureau of Internal Revenue (BIR) reporting requirements.
- Proficient in MS Office (word, excel, PowerPoint etc.) with data analysis tool.
- With excellent English communication skills both oral and written.
- With excellent attention to detail.
- Must be willing to work in Makati City
