Cash book function - journals and bank reconciliation.
Improve financial controls ensuring that general ledger is aligned with LOB financial records and monitor follow up on reconciling items.
Use exception reports to track completeness of general ledger journals.
Perform weekly and monthly reconciliations between LOB, bank statements and cash clearing accounts(Premiums collected and Claims payments).
Collaborate with Ops team (revenue and claims) and IT on system reconciliation findings and ensure recon queries relating to policy allocations and payment queries are addressed timeously.
Monitor payments on the banking system to ensure that payments are approved and released within the same day of capturing them
Provide sign off input in the compilation of Conduct of business return(CBR) for on platform books.
Key Responsibilities
- To process LOB automated Journals to the General Ledger by working day 2of the month (T+2) of accounting reporting
- To process cashbook journals to the General Ledger
- Checking and confirm correct GL accounts mapping on FTI file for automated cashbooks on weekly basis.
- Logging Jira calls for errors picked in the journal process and from LOB Policy reports
- Preparation and processing of manual monthly journals to General Ledger by T+3 of accounting reporting including Fees, Outstanding Claims (OCR), Premium Advance Journals
- Presenting financials to reporting team by working day 4 of the month (T+4)
- Review of the general ledger and provide review notes.
- Prepare Bank accounts recons on weekly basis and monthly basis.
- Prepare LOB clearing accounts recons.
- Prepare balance sheet recons Premium debtors, premium advance, Internal payment, Suspense account, Outstanding claims recon.
- Variance investigation LOB vs policy report vs Ledger vs Bank statement. Logging calls with IT for BAU queries/variances etc.
- Updating cessions and posting Reserves & Interest Journal
- Following up on calls and ensuring that they are resolved timeously.
- Testing for fixes applied by IT on LOB transactions.
- Reconcile CBR report to LOB policy level report.
- Releasing payments on Banking system
- Monitoring payments on Banking system
- Downloading and saving bank statement (both Excel and PDF)
- Processing payment, Refunds, Invoices, capturing Purchase Orders
- Efficient assistance with external and GIA audit processes plus elimination of significant audit findings to the extent that these relate to both control design and execution.
- Attending to queries and Adhoc request
