Job Description

Process automated journals from the Policy Administration system, Line Of Business (LOB), to the General Ledger.Prepare and post cash book journals.Perform bank reconciliation and follow up on reconciling items on timeously.Improve financial controls by ensuring the general ledger is aligned with LOB financial records and monitoring follow-up on reconciling items.Use exception reports to track the completeness of general ledger journals.Perform weekly and monthly reconciliations between LOB, bank statements, and cash clearing accounts (Premiums collected and Claims payments).Work with the 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 they are approved and released within the same day they are captured.Provide input in compiling Conduct of business return (CBR) for on-platform books.Release manual payment within the SLA timelinesProcess automated journals from the Policy Administration system, Line Of Business (LOB), to the General Ledger.Prepare and post cash book journals.Perform bank reconciliation and follow up on reconciling items on timeously.Improve financial controls by ensuring the general ledger is aligned with LOB financial records and monitoring follow-up on reconciling items.Use exception reports to track the completeness of general ledger journals.Perform weekly and monthly reconciliations between LOB, bank statements, and cash clearing accounts (Premiums collected and Claims payments).Work with the 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 they are approved and released within the same day they are captured.Provide input in compiling Conduct of business return (CBR) for on-platform books.Release manual payment within the SLA timelinesKey ResponsibilitiesFinance Operations xe2x80x93 Line of Business System (LOB)

• Process LOB automated journals to General Ledger on working on day 1
• Reconciliation of LOB to General ledger (balance sheet account and clearing accounts). Follow up on reconciling items and resolve them within the agreed SLA times.
• Reconciliation of On Platform LOB Income Statement journals to detailed policy listing
• Maintain up-to-date documented process flow and GL mapping for the on-platform books.
• Analyze the month-end results compared to insights from Ops teams, such as claims and revenue.
• Comparison of On Platform LOB key accounts (GWP, Claims, and Commission) in line with policy movement report to ensure reasonability of LOB results
• Monthly reconciliation of cash book clearing accounts against the collection dashboard or debit order batch file and claims report
• Logging Jira calls for errors picked in the journal process and from LOB Policy reports
• Follow up on calls and ensure that they are resolved on time.
• Testing for fixes applied by IT on LOB transactions.
• Reconcile the CBR report with the LOB policy-level report.
• Attending to queries and Adhoc request
• Attend to audit requests, both external and internal audits.

Regulatory Reporting

• Maintain a daily dashboard for tracking cash deposits higher than prescribed cash transactions

Process Improvement and Automation

• Continuous improvement of LOB transactions still requiring manual adjustment before posting to the ledger.
• Review the unposted and unmapped transactions to ensure these are kept to the minimal
• Co-ordination between IT, Ops, and broader finance on operational processes affecting financial reports
• Add value to Operations teams by ensuring timely communication of system issues due to Ops processes.

Cash books

• Ensure that manual policy payments submitted to finance are paid within 4 hours
• Update FTI mappings with new account codes
• Prepare Bank accounts on a monthly basis
• Preparation and posting of Cashbook journals.
• Checking and confirming correct GL accounts mapping on FTI file for automated cashbooks.
• Maintain cash book journals and reconciliations.
• Releasing payments on the Banking system
• Downloading and saving bank statements (both Excel and PDF)

Hollard