Finance Manager - Reporting

Discovery Limited; Johannesburg; On-site; ZAR 600,000 - 840,000; Full time

Job summary

A leading insurance company in South Africa is seeking a Finance Manager to oversee financial reporting and controls. The successful candidate will lead a finance team, ensure compliance with regulatory standards, and contribute to the company's financial strategies. This role demands strong leadership skills and a deep understanding of insurance finance principles.

Qualifications

• At least 3 years post articles experience.
• 2 years in successfully leading a team.
• Experience within the insurance industry and IFRS 17 knowledge.

Responsibilities

• Lead financial reporting and oversee internal controls.
• Ensure compliance with regulatory requirements.
• Manage financial forecasting and budgeting.

Skills

Financial reporting

Analytical review

Leadership

Time management

Insurance finance knowledge

Education

Matric

CA (SA)

Tools

HFM

OneStream

Job description

Discovery – Insure

Finance Manager - Reporting

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society .

About Discovery Insure

Discovery Insure is committed to creating a nation of great drivers through our innovative Shared-value Insurance model. Discovery Insure is South Africa’s fastest growing short-term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor and home insurance sectors. Vitality Drive, an internationally-recognised and award-winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well. The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1 000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.

Key Purpose

To effectively lead a team of people who are responsible for all financial reporting as well as actioning processes, procedures and financial controls within the business. To run with all month end & year end reporting of Discovery Insure as well as ensuring that all regulatory returns are submitted timeously. To further ensure effective financial controls are implemented across the business i.e. budgets, financial reporting and cost control.

Areas of responsibility may include but are not limited to

Product Control

• Responsible for the end-to-end accounting processes and internal controls for all Discovery Insure products from product source systems to the financial ledger
• Active participation in the product development steering committee

Accounting Control

• Review and approval of all journals
• Review and approval of all reconciliations
• Manage the month-end close process and collaborate with the actuarial team for accurate financial reports
• Review and approval of all tax computations and returns (Income Tax and VAT)
• Provide supplementary finance data to internal and external stakeholders for regulatory and statutory reporting requirements

Financial Reporting and Analytics

• Preparation of IFRS compliant financial statements and notes
• Analytical analysis of IFRS results, accounting notes and reportable segment

Technical Accounting

• GAAP and IFRS compliance, training and advise
• Regulatory and statutory compliance, training and advise
• Income tax and VAT compliance, training and advise
• Reinsurance accounting compliance, training and advise
• Collaborate with group finance for advice on financial implications of business activities

Governance and Control

• Balance sheet control and analytical review
• Conformance testing: Standard operating procedures, internal controls, systems, automated and manual journals, income statement and balance sheet reconciliations
• Tracking all risk, governance, internal and external audit findings to closure
• Ongoing review of existing processes to identify and deliver improvement plans

Technology Enablement

• Set up Onestream Load packs that link to underlying management account workings
• Automation of manual and time-consuming processes

Financial Planning and Analysis

• Finance assistance on new initiatives and products: proof of concept, due diligence, valuations, market research and competitor analysis
• Assess viability of all live strategic initiatives against commercials and the J-curve
• Preparation of budgets and forecasts and providing insightful commentary vs actual results
• Assist with the preparation of audit committee packs and CFO reports
• Handle ad-hoc financial reporting tasks

People Leadership and Management

• Provide leadership and direction to the finance team
• Lead by example in demonstrating the organisation’s desired values and culture

Knowledge and Skills

• Strong financial reporting and accounting skills
• Insightful at analytical review, results analysis and results commentary
• Experience in implementations of financial systems and improving of financial processes an advantage
• Understanding the impact of insurance finance systems, processes, people and technologies have an impact on the business
• Demonstratable skills in successfully leading and influencing people

Personal Attributes

• Ability to pay attention to detail but also see the bigger picture
• Lead and build a team culture of excellence
• Good time management and organisational skills
• Ability to work effectively under pressure
• Improvement mindset
• Manage complexity
• Manage change
• Ability to delegate
• Dependability
• Business acumen and insights

Education and Experience

Education:

• Matric (Essential)
• CA (SA)

Minimum Experience:

• At least 3 years post articles experience
• At least 2 years in successfully leading a team
• Experience within the insurance industry with a strong understanding of IFRS 17
• Consolidations experience will be an added advantage
• HFM and/or OneStream experience will be an added advantage

EMPLOYMENT EQUITY

The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.