Technical Accountant: IFRS17

Recruiter:

Network Recruitment

Job Ref:

NFR003232/BM

Date posted:

Thursday, March 28, 2024

Location:

Centurion, South Africa

Salary:

800000

SUMMARY:
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.

POSITION INFO:
This organization is a market leader making waves in the insurance industry. The successful candidate will need to be well round in implementing IFRS 17 exposure and be able to perform the day to day basic accounting functions for the business.

Duties and Responsibilities:

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

Drafting 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: Determining 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 a insurance space is essential.
Advanced Excel knowledge

NB! This job is now closed. You can apply for other jobs by uploading your CV.

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