Position title: Collection and Accounts Settlement Analyst

Location: Ayala Avenue, Makati City

We are currently on a hybrid work arrangement. Working 3x a week on-site and 2x a week WFH.

Job Summary:

Responsible for overseeing the collection efforts and implementation collection protocol and escalation.

Qualifications:

1. Graduate of a Bachelor's degree in Commerce, Economics, Finance or related field

2. New graduates are welcome to apply.

Scope of Responsibilities:

Reinsurance (RI) Payment Processing

1. Reviews and recommends for approval of Payment Request Form, ARIMA Settlement Request Form and SAP Posting Invoice upon receipt of Cedant/Broker’s Statement of Account, Claims Payment Request or validation of RI Payable with RI Contracts

2. Monitors and reviews lists of retro payables recommended for payment (e.g. Premiums, XOL, Mindep, Stop Loss) (Weekly/Monthly)

3. Provides data during Life’s Coordination Meeting

Account Settlement

1. Maintains the Subsidiary Ledgers of Cedants/ Brokers/ Retrocessionaires

2. Processes revaluation of manual subsidiaries (FHB/F;PPR/PLR). Applies/Allocates collections according to remittance detail provided by the Cedants/Brokers/Retrocessionaires (RMS & SAP system)

3. Prepares Collection Application Form according to production details.

4. Updates monitoring logs (Collection & Settlement) with the status and required processing references

5. Clears any unallocated cash by endorsing to respective functions (e.g., Admin for unrecorded production, Treasury for overpayments,

6. Claims for Statement of Account deductions)

7. Prepares payment request for collections pertaining to unaccepted binders/contracts.

8. Prepares payment request for retro ceded premium transactions, XOL, MinDep and Stop loss

9. Processes reconciliation of accounts (Due From/Due To)

RI Collection Application

1. Reviews and approves cash collection application in the Subsidiary Ledger (ARIMA & SAP) upon receipt of the remittance details from the Collection Department.

2. Ledger Maintenance - Reviews and approves other RI-related data entry to GL accounts and ensures that these are supported with complete and valid documentation

3. Reconciliation of accounts with Third Party - Reviews and monitors progress of reconciliation of records with third party statement of accounts

4. Monitors the following ARIMA exception reports and ensure balances are followed-up and cleared

5. Provides schedule of Allowance for Doubtful Accounts (ADA) to Management Accounting on a quarterly basis

Ledger Maintenance

1. Reviews and approves other RI-related data entry to GL accounts and ensure that these are supported with complete and valid documentation

2. Revaluation of RI Balances for Manual Subsidiary Ledgers (Monthly) - Reviews and approves data entry related to revaluation of balances in foreign currencies

3. SL-GL Reconciliation of Manual Subsidiary Ledgers (Monthly) - Review SL-GL reconciliation prepared by the Technical Accountant and ensure that:

a. Balances are aligned with official records (SL & GL)

b. Material variances, if any, is accounted for and resolved/corrected in subsequent period.

Reconciliation of accounts with Third Party

Reviews and monitors progress of reconciliation of records with third party statement of accounts

Compliance

Assists the compliance department in complying with treasury-related regulation (Monthly)

Please refer to job description.