Accountant I Dubai | Financial Services| Orient Insurance PJSC
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Key skills for this role
About the Role
Orient Insurance PJSC seeks an Accountant I to manage end-to-end accounts payable operations in an insurance environment. The role involves processing claims payments, broker commissions, reinsurance settlements, and vendor payments while ensuring compliance with internal policies and regulatory requirements.
Key Skills for This Role
Responsibilities
- Process claims related payments (garages, hospitals, policyholders) in coordination with Claims and Medical teams
- Validate and process broker commission payments (e.g., AON, Marsh), ensuring accuracy of commission statements and agreements
- Manage reinsurance payables, including treaty and facultative settlements, in line with contractual terms
- Process and monitor premium refunds, ensuring proper approvals, documentation, and compliance
- Review, verify, and record vendor invoices accurately in the system
- Execute payments through bank transfers, cheques, or other approved payment methods
- Maintain and update vendor master data, ensuring accuracy of supplier and bank details
- Ensure compliance with VAT and regulatory requirements, including validation of input VAT and proper reporting
- Support reconciliation of payables, vendor balances, and insurance related settlements
- Assist in preparing periodic reports related to payables, commissions, and settlements
- Support month end closing activities and audit requirements
- Handle queries from vendors, brokers, and internal teams in a timely and professional manner
Requirements
- Bachelor's degree in Accounting, Finance, or related discipline
- 2 5 years of experience in Accounts Payable, preferably within insurance or financial services
- Hands on experience in insurance specific payments (claims, reinsurance, commissions) is highly preferred
- Strong understanding of insurance accounting processes
- Good knowledge of VAT and compliance requirements in the UAE
- Proficiency in ERP/accounting systems and Microsoft Excel
- High attention to detail and ability to manage high transaction volumes
- Strong coordination and communication skills
- Ability to work independently and meet tight deadlines
Full Job Posting
Job Description
- To manage end to end accounts payable operations within an insurance environment, including claims payments, broker commissions, reinsurance settlements, and vendor payments, ensuring accuracy, compliance, and timely processing in line with internal policies and regulatory requirements.
What You Will Do
- Process claims related payments (garages, hospitals, policyholders) in coordination with Claims and Medical teams.
- Validate and process broker commission payments (e.g., AON, Marsh), ensuring accuracy of commission statements and agreements.
- Manage reinsurance payables, including treaty and facultative settlements, in line with contractual terms.
- Process and monitor premium refunds, ensuring proper approvals, documentation, and compliance with internal policies.
- Review, verify, and record vendor invoices accurately in the system.
- Ensure all invoices are supported with proper documentation and approvals prior to posting.
- Execute payments through bank transfers, cheques, or other approved payment methods.
- Maintain and update vendor master data, ensuring accuracy of supplier and bank details.
- Ensure compliance with VAT and regulatory requirements, including validation of input VAT and proper reporting.
- Ensure adherence to internal controls, audit requirements, and regulatory guidelines applicable to insurance operations.
- Support reconciliation of payables, vendor balances, and insurance related settlements where required.
- Coordinate with internal stakeholders (Claims, Underwriting, Reinsurance, Finance) to resolve discrepancies.
Required Skills To Be Successful (Qualifications)
- Bachelor’s degree in Accounting, Finance, or related discipline.
- 2 5 years of experience in Accounts Payable, preferably within the insurance or financial services sector.
- Hands on experience in insurance specific payments (claims, reinsurance, commissions) is highly preferred.
What Equips You For The Role (Skills & Competencies)
- Strong understanding of insurance accounting processes (claims, commissions, reinsurance).
- Good knowledge of VAT and compliance requirements in the UAE.
- Proficiency in ERP/accounting systems and Microsoft Excel.
- High attention to detail and ability to manage high transaction volumes.
- Strong coordination and communication skills to work across multiple stakeholders.
- Ability to work independently and meet tight deadlines.
About Orient Insurance PJSC
- Orient Insurance Company commenced operations in 1982 as a part of the reputed Al Futtaim Group and has since recorded a progressively steady growth.
- The Company is counted among the leaders in the UAE insurance market.
- Orient Insurance Company has a paid up capital of AED 500 Million which is the highest in the insurance industry in UAE.
- With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah and Ras Al Khaimah in UAE, Muscat in Sultanate of Oman, Riyadh in Kingdom of Saudi Arabia and Bahrain.
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