Accounting Executive - Insurance Premiums

About the role

Elseco is looking for an Accounting Executive to manage and monitor the insurance premium accounting cycle. The role ensures accurate recording, reconciliation, monitoring and timely settlement of premiums, including review of bordereaux reports and support of financial reporting, in line with accounting principles and IFRS standards. The workplace is on-site in Dubai.

Key responsibilities

• Monitor and record premium receipts from brokers, allocate them to the right underwriting accounts and perform cash clearing and reconciliation with broker statements and bank receipts
• Investigate discrepancies, track outstanding premiums and follow up with brokers, and process settlements to participating members and insurers
• Maintain and reconcile the Insurance Bank Account (IBA) monthly
• Review monthly and quarterly bordereaux reports and validate premium data against the underwriting platform and bank records
• Use digital platforms to monitor premium flows, support automation of reconciliations and suggest process improvements with the ATOM and Finance teams
• Ensure compliance with IFRS and internal policies, keep audit documentation, support internal and external audits and meet DFSA reporting requirements where applicable
• Assist in month-end close, including IBA inwards and outwards entries, and help prepare financial statements and management reports

Required profile

• 3 to 5 years of relevant accounting experience, ideally in insurance, reinsurance, an MGA or an insurance broker
• Preferred fully qualified ACA/ACCA/CIMA/CPA or equivalent finance qualification
• Ability to work in a fast-paced, technology-driven environment and manage multiple deadlines
• Strong analytical and reconciliation skills, accuracy and attention to detail
• Good communication with internal teams and external parties

Required skills

• Computer literacy with good PowerPoint and Excel skills
• Solid understanding of accounting systems, particularly SAP, is an advantage