Insurance/Takaful Accounting Specialist

Insights; Saudi Arabia; On-site; SAR 150,000 - 200,000; Full time

Job summary

A financial services company in Jeddah is seeking an experienced accountant to manage IFRS 17 accounting and financial reporting in the insurance sector. The ideal candidate has 5-6 years relevant experience and advanced qualifications such as CA or CPA. Responsibilities include data analysis, financial reporting, and audit preparation.

Qualifications

• Demonstrated experience in IFRS 17 accounting within the Takaful/Insurance sector.
• Prior hands-on experience in financial reporting and accounting operations of an Insurance or Takaful company.
• Excellent command of English (both written and spoken).

Responsibilities

• Collect and analyse financial data to support accurate financial reporting.
• Perform thorough data reconciliations and validations across systems.
• Prepare audit schedules and documentation, and assist with addressing audit findings.

Skills

IFRS 17 accounting

Financial reporting

Data reconciliation

Audit preparation

Collaboration with stakeholders

Education

CA, CPA, ACCA, CMA, or Master’s in Finance

Job description

Job Location:

Jeddah, Kingdom of Saudi Arabia

Key Responsibilities:

The selected candidate shall be responsible for the following duties:

• Collect and analyse financial data to support accurate financial reporting.
• Perform thorough data reconciliations and validations across systems.
• Identify, investigate, and resolve discrepancies or variances in financial and non-financial data.
• Populate IFRS 17 data templates using information from operational and reporting systems for upload into the IFRS 17 engine.
• Extract results from the IFRS 17 reporting engine and post corresponding entries to the General Ledger (GL) and Trial Balance (TB).
• Prepare IFRS 17-based trial balances for review by the line manager.
• Reconcile IFRS 4 results with IFRS 17 outputs to ensure consistency and compliance.
• Assist the Principal Accountant / Manager Finance in maintaining up-to-date accounting records to support timely and accurate management reporting.
• Support the preparation and finalization of quarterly and annual financial statements in accordance with applicable standards.
• Maintain and reconcile general ledger accounts to ensure completeness and accuracy.
• Record financial transactions promptly and accurately.
• Prepare audit schedules and documentation, and assist with addressing audit findings and implementing recommendations.
• Collaborate with external consultants and internal stakeholders to enhance integration.

Role Requirements:

The ideal candidate should meet the following criteria:

• Demonstrated experience in IFRS 17 accounting within the Takaful/Insurance sector.
• Prior hands-on experience in financial reporting and accounting operations of an Insurance or Takaful company.
• Excellent command of English (both written and spoken).
• A relevant qualification from an internationally recognized institute, such as CA, CPA, ACCA, CMA, or a Master’s in Finance.

Experience Requirements:

• 5 to 6 years of relevant accounting experience