Techical Accountant: IFRS17 - Centurion
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:
IFRS 17
Skills and Qualifications:
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
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