Accounting Executive

Introduction elseco is a high technology specialty insurance underwriting agency and Lloyd’s Coverholder. elseco underwrites on behalf of 70 insurance and reinsurance companies including Lloyd’s syndicates. elseco is headquartered in the Dubai International Financial Centre (Dubai, UAE) and is regulated by the Dubai Financial Services Authority. The company employs some 100 professionals with regulated offices in London, Paris and Washington DC. The company started 20 years ago with space insurance and has since diversified into aviation and energy insurance as well. At the cornerstone of elseco’s latest evolution is the technology “Platform” development. It sits at the very core of the company and is seen as business critical to the company’s future success and growth plans. Through a unique blend of IT, integration and innovation, the elseco “Platform” conducts and transacts all the company’s business requirements both internally (including creating cost efficiencies through optimal processing and data gathering) and externally (with revenue generating capabilities). Job Purpose / Mandate The Accounting Executive will be responsible for managing and monitoring the insurance premium accounting cycle . The role focuses on ensuring the accurate recording, reconciliation, monitoring and timely settlement of premiums, including the review of bordereaux reports and supporting financial reporting. It also ensures that finance operations are performed efficiently and in compliance with applicable accounting principles and IFRS standards. The successful candidate will operate in a technology-enabled finance environment , leveraging automation tools, digital reconciliation processes and data analytics to ensure accuracy, transparency and efficiency in financial operations. Specific Duties and Responsibilities - Premium Accounting, Reconciliation & Monitoring Monitor and record premium receipts from brokers. - Ensure timely allocation of premium collections to the appropriate underwriting accounts. - Perform premium cash clearing and reconciliation between underwriting records, broker statements and bank receipts. - Investigate and resolve discrepancies Track outstanding premiums and follow up with brokers to ensure timely settlement. - Process premium settlements to participating members/insurers Maintain and reconcile Insurance Bank Accounts (IBA) monthly 2. - Bordereaux Review and Validation Review monthly and quarterly bordereaux report and ensure completeness and accuracy. - Validate premium data against underwriting platform d bank records. - 3. Technology & Automation As elseco operates a technology-driven underwriting platform, the Accounting Executive is expected to: Utilize internal digital platforms to monitor premium flows. - Support automation of reconciliation processes. - Identify opportunities for process improvements and system automation. - Work closely with ATOM and Finance teams to improve finance workflows. - 4. Compliance and Controls Ensure adherence to IFRS accounting standards and internal finance policies. - Maintain appropriate documentation for audit and regulatory purposes. - Support internal and external audits relating to premium accounting. - Ensure compliance with DFSA regulatory reporting requirements where applicable. - 5. Month End Close Support - Assist in the monthly closing of books to ensure all entries are entered in the system specifically the Insurance Bank Account (IBA) account inwards and outward transactions. - Assist in the preparation of financial statements & management reports. - Other tasked assigned. - Previous financial and reporting and insurance accounting experience essential, preferably fully qualified ACA/ACCA/CIMA/CPA (or equivalent finance related qualification) - Ability to work in a fast-paced and technology-driven environment - Ability to manage multiple deadlines and priorities - Strong analytical and reconciliation skills - High level of accuracy and attention to detail - Strong communication skills with internal teams and external parties - Computer literacy with good PowerPoint and Excel skills are expected - Solid understanding of accounting systems, particularly SAP, is an advantage

Back to blog

Common Interview Questions And Answers

1. HOW DO YOU PLAN YOUR DAY?

This is what this question poses: When do you focus and start working seriously? What are the hours you work optimally? Are you a night owl? A morning bird? Remote teams can be made up of people working on different shifts and around the world, so you won't necessarily be stuck in the 9-5 schedule if it's not for you...

2. HOW DO YOU USE THE DIFFERENT COMMUNICATION TOOLS IN DIFFERENT SITUATIONS?

When you're working on a remote team, there's no way to chat in the hallway between meetings or catch up on the latest project during an office carpool. Therefore, virtual communication will be absolutely essential to get your work done...

3. WHAT IS "WORKING REMOTE" REALLY FOR YOU?

Many people want to work remotely because of the flexibility it allows. You can work anywhere and at any time of the day...

4. WHAT DO YOU NEED IN YOUR PHYSICAL WORKSPACE TO SUCCEED IN YOUR WORK?

With this question, companies are looking to see what equipment they may need to provide you with and to verify how aware you are of what remote working could mean for you physically and logistically...

5. HOW DO YOU PROCESS INFORMATION?

Several years ago, I was working in a team to plan a big event. My supervisor made us all work as a team before the big day. One of our activities has been to find out how each of us processes information...

6. HOW DO YOU MANAGE THE CALENDAR AND THE PROGRAM? WHICH APPLICATIONS / SYSTEM DO YOU USE?

Or you may receive even more specific questions, such as: What's on your calendar? Do you plan blocks of time to do certain types of work? Do you have an open calendar that everyone can see?...

7. HOW DO YOU ORGANIZE FILES, LINKS, AND TABS ON YOUR COMPUTER?

Just like your schedule, how you track files and other information is very important. After all, everything is digital!...

8. HOW TO PRIORITIZE WORK?

The day I watched Marie Forleo's film separating the important from the urgent, my life changed. Not all remote jobs start fast, but most of them are...

9. HOW DO YOU PREPARE FOR A MEETING AND PREPARE A MEETING? WHAT DO YOU SEE HAPPENING DURING THE MEETING?

Just as communication is essential when working remotely, so is organization. Because you won't have those opportunities in the elevator or a casual conversation in the lunchroom, you should take advantage of the little time you have in a video or phone conference...

10. HOW DO YOU USE TECHNOLOGY ON A DAILY BASIS, IN YOUR WORK AND FOR YOUR PLEASURE?

This is a great question because it shows your comfort level with technology, which is very important for a remote worker because you will be working with technology over time...