Senior Associate-R2R Insurance & Reinsurance Accounting

At AIA we've started an exciting movement to create a healthier, more sustainable future for everyone.

Reporting to Assistant Manager or Manager- Insurance & Reinsurance Accounting, this position shall support the insurance & reinsurance accounting process by performing routine of recording entries, reconciliations, assisting with month-end close activities, and ensuring compliance with internal controls.

Job Description:

Insurance and Reinsurance Accounting

• Prepare insurance and reinsurance transactions, including recording, matching and clearing entries in SAP
• Prepare reinsurance templates, inter-company billings, settlements, and clearing activities in accordance with defined procedures
• Support month-end closing activities to meet agreed timelines
• Prepare variance analysis and reasonableness checking on commentary for significant movements in balances and P&L.
• Prepare related to financial and management reports prepared by the team to ensure accuracy, consistency, and adherence to reporting guidelines.
• Perform daily system reconciliations and control reports, ensuring issues are identified, logged, and resolved appropriately by the team.
• Assist to review IFRS17 solution outputs and control reports, confirming completeness, accuracy, and alignment with source data.
• Assist to prepare IFRS reporting activities, including IFRS 17 / IFRS 4, by preparing movements, reconciliations, and supporting schedules.

Financial Reporting & Analysis

• Prepare quarterly / semi-annual / annual Group reporting template following Group Closing instructions.

Stakeholder Support

• Response to routine queries from internal teams promptly and professionally.
• Escalate unresolved issues to Assistant Manager as and when needed support.

Compliance & Documentation

• Maintain proper documentation for all transactions in line with audit requirements.
• Update Closing/Control Checklist, Training Materials and Business Process Manuals as and when required.

Control & Governance

• Support internal and external audits by providing required documentation and explanations.
• Ensure ICFR control objective is met.

Balance Sheet Reconciliation:

• Perform balance sheet accounts reconciliations and resolve the unreconciled / open items on a timely manner.

Process Improvement

• Contribute process improvement opportunities within insurance and reinsurance accounting workflows.

Others

• Involve in UAT as and when required.
• Perform other month end closing activities and ad hoc requests as and when required.
• Support on other projects and matters as and when required.