Technical Accountant: IFRS17 Specialist
Reference: NFR003232-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, and exposure therein, and be able to perform the day-to-day basic accounting functions for the business.
- Group reporting
- Regulations reporting
- Budgets and forecast
- 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
- IFRS 17 outlines specific accounting policy choices an entity is required to make to set its methodology
- 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)
- Presentation & Disclosure: Determine the 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: Fixed fee service contracts
Skills and Qualifications:
- CA(SA)
- 2 years of experience from an insurance space is essential
- Advanced Excel knowledge
Package & Remuneration
R 800000 - R 1000000
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