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Centurion

    IFRS17 Specialist - Centurion, South Africa - Network Recruitment

    Network Recruitment
    Network Recruitment Centurion, South Africa

    Found in: Whatjobs ZAC2 - 6 days ago

    Network Recruitment background
    Description
    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 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:
    • 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: 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 an insurance space is essential
    • Advanced Excel knowledge

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