Financial Accountant

General Re Corporation; Cape Town; On-site; ZAR 450,000 - 600,000; Full time

Job summary

General Re Corporation seeks a Financial Accountant for its Cape Town branch within the Life division. Ideal candidates are Chartered Accountants with technical skills and experience in reinsurance, particularly with IFRS 17. Responsibilities include managing accounts, processing claims, and stakeholder support, all vital for ensuring financial accuracy in the sector.

Qualifications

• 1-2 years' post-articles experience in financial accounting.
• Practical exposure to reinsurance.
• Proven experience working with IFRS 17.

Responsibilities

• Manage reinsurance debtor accounts and resolve payment queries.
• Perform reconciliations for life clients and receivables.
• Assist pricing teams with data queries.

Skills

Analytical capabilities

Reconciliation capabilities

Communication

Stakeholder engagement

Attention to detail

Proactive approach

Education

Chartered Accountant (CASA)

Tools

SAP

Advanced Excel

Job description

Shape Your Future With Us
General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. It owns General Reinsurance Corporation and General Reinsurance AG, which conducts business as Gen Re.
Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of 37 offices, we have earned superior financial strength ratings from each of the major rating agencies. We value diversity, equality, and inclusion and promote a culture that supports professional and personal growth.

General Reinsurance, Cape Town Branch (a subsidiary of General Reinsurance AG), is offering an opportunity for Financial Accountant in our Life Australia, UK, SA, Canada division.

Key Responsibilities

We are seeking a qualified Chartered Accountant to join our finance team as a Technical Accountant in the reinsurance sector. This role is ideal for someone with strong technical accounting skills, a keen eye for detail, and a passion for financial accuracy and process improvement. Exposure to IFRS 17 is essential, and experience in insurance or reinsurance is required.

Reinsurance Accounting & Operations:

• Manage life reinsurance debtor accounts and resolve payment queries.
• Process premiums and claims in internal systems.
• Reconcile payments against premiums and claims.
• Monitor and follow up on long-outstanding debts.
• Track and resolve data issues related to claims and premiums.

Reporting & Reconciliations:

• Maintain schedules for premiums, claims, new business, and data vs. cash differences.
• Perform reconciliations for life clients and receivables.
• Generate invoices and debit notes for regional and international clients.
• Conduct cash reconciliations between internal systems.
• Prepare and submit documentation for commissions, claims, and refunds.

Stakeholder Support:

• Assist pricing and account management teams with data queries.
• Provide financial information to internal and external stakeholders.
• Support reconciliation efforts with cedants and resolve data discrepancies.

Valuation & Compliance:

• Perform receivable calculations and validate with actuarial teams.
• Complete valuation checks, journal reviews, and expense allocations.
• Support IFRS 17-related processes, reconciliations, and reporting.

General Finance Duties:

• Manage shared finance inboxes.
• Investigate unknown or foreign bank deposits.
• Liaise with auditors and assist with audit-related queries and documentation.
• Assist with financial statement preparation and reconciliation tasks.

Qualifications & Experience

• Chartered Accountant (CASA) qualification with 1-2 years' post-articles experience in a financial accounting role within the insurance or reinsurance industry.
• Practical exposure to reinsurance (either direct experience or gained during articles).
• Proven experience working with IFRS 17 is essential.
• Strong background in insurance or reinsurance accounting principles is required.
• Exposure to IFRS 17 is essential.
• Experience in insurance or reinsurance is required.
• SAP experience is beneficial.
• Advanced Excel skills are essential.

Skills & Attributes:

• Strong analytical and reconciliation capabilities.
• Excellent communication and stakeholder engagement.
• High attention to detail and accuracy.
• Ability to manage multiple tasks and meet deadlines.
• Collaborative and proactive approach.

Contact

Human Resources

Our Address

General Reinsurance Africa Ltd.

(Reinsurer licensed to conduct composite insurance business)

2nd Floor, Waterway House North, 3 Dock Road, V&A Waterfront,
Cape Town, 8001 (South Africa)

Preference will be given, but not limited to, candidates from designated groups in terms of the Employment Equity Act and our employment equity policy.