Reference: NFR003232-BM-1My 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 & ResponsibilitiesThis 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 reportingRegulations reportingBudgets and forecastProcess income tax per client onto the general ledgerPay reinsurers and submit reinsurance bordereauxPrepare Balance Sheet reconciliations per clientIFRS 17:Draft IFRS 17 position papers for insurance entitiesIFRS 17 outlines specific accounting policy choices an entity is required to make to set its methodologyPremium allocation approach eligibilityLiability for Remaining Coverage (LFRC) adjusted for financial risk and time value of money where a significant financing component existsLiability for Incurred Claims (LIC) adjusted for time value of money and financial risk where claim settlement delays exceed one yearPresentation & 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 frequencyRisk 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 contractsSkills and Qualifications:CA(SA)2 years of experience from an insurance space is essentialAdvanced Excel knowledgePackage & RemunerationR 800000 - R 1000000
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