Accounting Manager

JOB OPPORTUNITY - ACCOUNTING MANAGER

The Accounting Manager is responsible for the overall running and supervision of the accounting department and the preparation of accurate and timely financial reporting. The Accounting Manager is responsible for creating, maintaining, monitoring and evaluating financial reporting to ensure compliance with accounting standards as well as regulatory reporting and records-keeping requirements in the Cayman Islands. Key objectives of this role include managing premium and claims accounts, overseeing financial records, and administering accounting and banking software. The role involves handling accounts payable and receivable, preparation of accurate financial statements, coordinating audits, and managing budgets and treasury controls.

Additionally, the Accounting Manager will liaise with asset managers and auditors, supervise departmental staff, support risk management activities, and provide technical assistance to Board Committees while collaborating with the COO, CEO, and Board of Directors to achieve organisational goals. The main functions of the role are as follows:

Financial Management and Reporting

1. Responsible for the preparation of monthly and quarterly financial statements according to CCRIF's Operations Manual deadlines.
2. Responsible for maintaining an accounting system and all accounting services for management and compliance with regulatory authorities in the Cayman Islands. This will include:
• maintaining proper premium and claims accounts, managing appropriate reserves and experience statistics.
• overseeing the books and records in accordance with CCRIF's policies, claims and other control documents and information.
• documenting, maintaining and managing all accounting policies, procedures and guidelines
• maintaining CCRIF’s Accounting software and acting as the software platform administrator
• facility administrator for internet banking platform and assisting with CCRIF’s wire transfers as required.
3. Responsible for managing all accounts payable and receivable, ensuring timely payments, including insurance license maintenance, contracts with service providers, and other arrangements as per the Operations Manual.
4. Supporting CCRIF’s Risk Management Specialist in collecting premiums, participation fees, recoverable claims from reinsurers, and settling claims after an insured event.
5. Performing financial analysis, making recommendations related to forecasts, projections and expenditures.
6. Responsible for performance and accuracy of the accounting software and making recommendations on process improvements to ensure operational efficiencies;
7. Review, sign off and submit financial reports to stakeholders, as required.

Regulatory & Compliance

1. Coordinating with CCRIF's auditors for the annual examination of year-end financial statements, in compliance with US GAAP or other agreed accounting standards.
2. Responsible for compliance, ensuring adherence to regulations and internal requirements (Operations Manual).
3. Responsible for internal and external audit programmes, ensuring adherence to the external audit plan and timelines; updating the schedule with external auditors and management to accommodate any delays, as required.
4. Responsible for receipt of input and overseeing preparation, monitoring and reporting of CCRIF’s annual budget, ensuring timely submission of all reporting requirements as set by the Board and Senior Management.

Asset & Treasury Management

1. Responsible for liaising with Asset Managers and obtaining required investment reports.
2. Maintaining Treasury Management and Fiscal Controls for the Facility and its SPs, including proper asset management, ensuring availability of funds for obligations, placing surplus funds on fixed deposit or with Asset Managers, and ensuring all payments are properly authorised according to the Operations Manual.

 Internal Collaboration, Supervision & Support

1. Collaborating with Operations to develop and manage budgets and costs associated with procurement activities and preparing associated financial reports and forecasts.
2. Reporting to the COO and with guidance from the Board and/or Executive Management, manage relationships with Asset Managers, Bankers, Trustees, Enforcers, and Auditors to ensure timely deliverables.
3. Providing technical support for Board Committees (Audit and Risk Management Committee, Finance & Budget Committee and Investment Committee).
4. Responsible for reviewing all direct insurance/inward reinsurance documentation required by the CCRIF Risk Management Specialist.
5. Supervising and appropriately delegating tasks to direct reports, managing performance effectively for department efficiency and professional growth of staff.
6. Supporting the COO in the performance of activities required by the CEO and Board of Directors as delegated, consistent with the role and responsibilities of an Accounting Manager.

 Qualifications and Experience

• Bachelor's degree in Accounting, Finance or related field
• Master's degree in Accounts, Finance or business-related field preferred
• Professional certification (e.g. ACCA)
• 6 - 8 years financial reporting, treasury experience, preferably in financial services and insurance
• Familiarity with parametric insurance concepts, an asset
• Comprehensive knowledge and experience in Budgeting, Financial Forecasting & Reporting, Tax Regulations, Accounting standards (GAAP, IFRS)
• Strong proficiency in MS Office suite and accounting software

Functional Competencies

Technical:

• Financial Reporting
• Audit Coordination
• Budgeting and Forecasting
• Treasury Management
• Accounts Payable and Receivable
• Accounting Software Proficiency and Administration
• Compliance and Regulatory Adherence
• Document Management
• Analytical and Critical Thinking Skills

 Leadership and Personal:

• Leadership and Team Management
• Diligence
• Integrity
• Communication
• Problem-Solving
• Organisational Skills

 Language:

• Excellent oral and written communications skills in English
• Fluency in Spanish, both spoken and written, is an asset

Other Requirements

• Willingness and ability to work virtually and to travel on official business when required.
• Flexibility to work irregular schedules to accommodate coordination with global partners and team members across varying time zones.

Timing

• The contract period will be for a period of three years, with the possibility of extension or renewal.
• This is a full-time position.

Remuneration

A competitive compensation package will be offered and is negotiable based on the qualifications and experience of the candidate.

Application Process:

All suitably qualified persons interested in this opportunity should apply by October 8, 2024.

Due to the high volume of applications, only shortlisted candidates will be contacted.