Financial Accountant

Gen Re; Wes-Kaap; On-site; ZAR 450,000 - 600,000; Full time

Job summary

A leading global reinsurance company is seeking a Technical Accountant in Cape Town. The ideal candidate will be a qualified Chartered Accountant with experience in IFRS 17 and a thorough understanding of financial accuracy in reinsurance. This role involves managing debtor accounts, processing premiums and claims, and providing support to stakeholders.

Qualifications

• 1-2 years' post-articles experience in financial accounting, preferably in insurance or reinsurance.
• Strong background in accounting principles, specifically IFRS 17.
• Ability to manage multiple tasks with high accuracy.

Responsibilities

• Manage life reinsurance debtor accounts and resolve payment queries.
• Reconcile payments against premiums and claims.
• Assist with financial statement preparation and reconciliation tasks.

Skills

Analytical capabilities

Reconciliation capabilities

Communication

Stakeholder engagement

Attention to detail

Education

Chartered Accountant (CASA)

Tools

SAP

Excel

Job description

General Reinsurance, Cape Town Branch (a subsidary 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