Technical Accountant : Ifrs17

Network Finance; Gauteng; On-site; ZAR 600,000 - 800,000; Full time

Job summary

A leading company in the global insurance sector is seeking a Technical Accountant specializing in IFRS 17 to join their dynamic team in Pretoria. The successful candidate will be responsible for implementing IFRS 17, managing group reporting, and handling complex accounting functions, making it a pivotal role in their operations.

Qualifications

• At least 2 years of experience in the insurance industry is essential.

Responsibilities

• Draft IFRS 17 position papers for insurance entities.
• Implement IFRS 17 accounting policy choices.
• Prepare Balance Sheet reconciliations per client.

Skills

Advanced Excel knowledge

Education

CA(SA)

Job description

Reference : NFR-BM-1

My client in the global insurance space, based in the Eastern suburbs of Pretoria, is seeking a Technical Accountant : IFRS17 Specialist to be part of their dynamic team.

Duties & Responsibilities

This organization is a market leader making waves in the insurance industry.

The successful candidate will need to be well-rounded in implementing IFRS 17, with exposure in this area, and be able to perform the day-to-day basic accounting functions for the business, including:

• Group reporting
• Regulations reporting
• Budgets and forecasts
• Process income tax per client onto the general ledger
• Pay reinsurers and submit reinsurance bordereaux
• Prepare Balance Sheet reconciliations per client

IFRS 17 Responsibilities

• Draft IFRS 17 position papers for insurance entities
• Understand and apply specific accounting policy choices under IFRS 17, including:
• Premium allocation approach eligibility
• Liability for Remaining Coverage (LFRC) adjusted for financial risk and time value of money where a significant financing component exists
• Liability for Incurred Claims (LIC) adjusted for time value of money and financial risk where claim settlement delays exceed one year
• Presentation & Disclosure: Disaggregation of Insurance finance income and expense (P / L vs OCI)
• Recognition of acquisition cash flows (expense vs capitalise)
• Determine reporting frequency
• Risk adjustment: Disaggregation of risk adjustment (Insurance service result vs insurance finance income or expenses)
• Reinsurance: Presentation of income/expenses from reinsurance contracts held (present gross vs net)
• Identification and classification of fixed fee service contracts

Skills and Qualifications

• CA(SA)
• At least 2 years of experience in the insurance industry is essential
• Advanced Excel knowledge

Package & Remuneration

R - R