Postes à Soweto, United States

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.

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

• 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

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

R - R