Job Purpose
The person in charge of the position is responsible for:
The Senior Accountant is responsible for designing, defining, and validating accounting rules and configurations within the core insurance system to ensure alignment with local accounting standards, company policy, and regulatory requirements. This role is critical in bridging finance, IT, and operations during system implementation or transformation projects.
Key Responsibilities
1. Accounting Rule Setup and Configuration
- Define accounting rules and mappings for various insurance products, transactions, and processes in the core system.
- Ensure proper configuration of the chart of accounts (CoA), journal entries, and accounting flows.
- Translate insurance business logic (premiums, claims, reserves, commissions, reinsurance, etc.) into accounting logic.
2. Coordination and System Implementation
- Collaborate with IT, actuarial, and operations teams to ensure correct end-to-end integration of accounting functionalities.
- Participate in UAT (User Acceptance Testing) and validate the accuracy of financial outputs from the system.
- Identify gaps or misalignments between system outputs and accounting/reporting requirements.
3. Compliance and Reporting Alignment
- Ensure accounting rule design adheres to VAS and other local or international standards.
- Support in preparing documentation and audit trails related to accounting configurations in the system.
- Work closely with external consultants or system vendors during implementation or upgrades.
4. System Error Handling and Issue Resolution
- Serve as the key point of contact for accounting-related system issues, discrepancies, or unexpected behavior in financial outputs.
- Investigate root causes of accounting errors in system-generated journal entries or reports.
- Collaborate with IT, system vendors, and project teams to fix system bugs, update configurations, or implement patches.
- Ensure corrective actions are documented and tested before deployment to production.
- Maintain an issue tracking log and conduct periodic reviews to prevent recurring errors.
5. Continuous Improvement
- Recommend improvements or enhancements to accounting processes based on system capabilities.
- Monitor and maintain the integrity of accounting rules post-implementation.
6. Team Training and Staff Management
- Provide training, coaching, and guidance to junior accountants and cross-functional team members on accounting principles, system configurations, and operational procedures.
- Develop and maintain training materials, SOPs, and reference guides for accounting rule setup in the core system.
- Assign tasks and monitor progress of team members involved in accounting configuration, testing, and reconciliation processes.
- Evaluate performance and support professional development of accounting staff.
