Manager: Group Finance (IAA And IFRS17) - Parktown North Johannesburg at PPS

Job Advert Summary    

• Reporting to the Senior Manager: Finance, the role will be overseeing for the full accounting / budgeting & reporting function (in line with IFRS) of numbers originating in the Insurance Administration System (IAA) for PPS South Africa and PPS Namibia, as well as responsible for the member profit allocation and all related reporting. This includes the overlay/bridging from BAU to IFRS17.
• Responsible for liaising with external auditors on all matters relating to the statutory reporting as well as preparation and maintenance of the PPS Data & Reporting policy and Standard approved by the Group Executive Committee and the Group Risk Committee.

Minimum Requirements    
Education:

• BCom (Hons) Accounting, CA(SA)

Experience:

• At least 5 years working experience in a similar role.
• Experience in financial reporting.
• Experience in a financial services industry – long-term insurance is preferable.
• Experience within an IFRS technical accounting environment advantageous, but not a requirement.

Knowledge and Skills:

• Knowledge of the Long term insurance industry preferable.
• Good technical accounting knowledge of IFRS.
• Able to work with budget models and understand the key drivers.
• Is adept in the use of the latest MS Office package, particularly Excel, Word and Power-point.
• Knowledge of Great Plains an advantage.

Competencies:

• Attention to detail.
• Responsible and Accountable.
• Good networking skills.
• Good presentation skills.
• Manages expectations.
• Takes extreme ownership.
• Eternally curious.
• Integrity.
• Professionalism.
• Conflict resolution.
• Effective communication skills

Duties and Responsibilities    
IAA Accounting:

• Approve all General Ledger entries for the IAA trial balance and non-standard reversing journals as and when needed.
• Approve General Ledger reconciliations.
• Overseeing that deliverables are managed including key reports from Operational Finance department and Actuarial department.
• Oversee the preparation of management accounts commentary for premiums, claims and commissions and directly liaising with the Head of Operational Finance.
• Review Balance Sheet reconciliations relating to premiums, claims and commissions.

IFRS17 “Overlay” Accounting:

• Source relevant data from Operational Accounts department, directly liaising with the Head of Operational Finance.
• Analyse data and ensure completeness and accuracy of data received from Operational Finance to process the General Ledger entries.
• Take full responsibility for the IFRS 17 accounting and reporting design including: General Ledger, reconciliations, Management accounts, and Journal entries “bridge” from BAU to IFRS 17

Financial Reporting:

• Oversee the preparation of monthly Management Accounts of Premiums, Claims, Commissions and Profit allocation.
• Provide value added commentary on variances to budget.

Budgeting:

• Oversee the preparation of the annual budget of Premiums, Claims and Commission liaising with the Head of Actuarial for key assumptions, ensuring accuracy of the Budget model used. Job Title Manager: Group Finance
• Responsible for the Exco and Board budget presentation slides and providing value added commentary.

Statutory Reporting:

• Responsible for Premiums, Claims and Commission input into the preparation of the Annual Financial Statements.
• Collaborate with subject experts on the preparation of Annual Financial Statements in line with IFRS17
• Responsible for all disclosures relating to the Policyholder liability, which includes accuracy of the DPF and Non DPF disclosures that are fed through from Actuarial.
• Responsible for all disclosures on the Profit allocations in the Annual Financial Statements.
• Providing input into tax and statutory reporting to all regulated authorities.
• Assistance with the implementation of IFRS17 where requested by the Project leader.
• Assist new auditors with a smooth onboarding & ensure all audit queries are addressed timeously.

Staff management:

• Oversee the functions of one accountant

Ad hoc:

• Assisting other members of Group Finance in times of leave.
• Assisting the Senior manager and Executive Group Finance with all ad hoc requests.
• Assisting the IFRS17 Project Leader in documenting processes for IFRS 17.

Closing Date    
2023/08/04