Assist Group Head in IFRS 17 project implementation with statutory/home office reporting disclosures/deliverables. Assist in timely delivery of financial, management and regulatory reports to internal and external stakeholders, including ACRA and MAS. Assist reporting officer on Finance Transformation tasks and follow through processes.
Up to date & Changes:
- Keep up to date with IFRS, MAS and local GAAP reporting rules, regulations and changes
- Identify and support resulting change of financial reporting systems, processes, and reports to remain in compliance with applicable laws, rules and regulations
- Work with Finance Transformation Manager to implement updates and changes as required
- Support the implementation of IFRS17
IFRS 17 Project Implementation
- Assist in project planning processes, workflows and UAT testing.
- Work with consultants in setting up IFRS 17 GL, deriving monthly postings and closing process and set up reconciliation process.
- Assist in implementation of finance reports/disclosures in relation to IFRS 17
- Assist in home office monthly/quarterly IFRS 17 reporting and attending to home office queries.
- Assist in finance process, workflow improvement initiatives, such as RPA and other digitalisation and automation process.
- Assist in managing insurance system process bugs and recon process between Insurance system and Sun accounting system.
Closing (IFRS 17):
- Co-ordinate the monthly, quarterly, and annual closings of financial with Technical Accounting and Finance Operations
- Review closing journals and entries and confirm, advising SG Head of Finance as appropriate with reference to expectations, budget, and reforecasts
- Close the financial accounts, undertaking review of management and statutory views to confirm expectations and accuracy.
Management Reporting (IFRS 17):
- Produce Management view financials for internal reporting and onward update to FP&A and transmission to Home Office shareholder
- Provide results analysis against budget and reforecast to brief SG Head of Finance and CEO and for use in internal performance meetings and reports.
Balance sheet maintenance (IFRS 17):
- Implement and maintain monthly cycle of balance sheet review and confirmation to validate and maintain accurate financial position statement. Based on risks - technical balances quarterly, operational balances bi-annually and low movement balances annually.
Audits & Annual Report (ACRA):
- Assist in supporting audit activities (in relation to IFRS 17) with Assist in managing the internal and external audits.
- Prepare IFRS 17 Annual Financial Statements/Annual report and liaise with the Auditor for the finalisation of them withing audit timetable.
- At least 2 years working in accounting and reporting in insurance company
- 1 year or more working on IFRS17 reporting and implementation.
- Overall 5 years working in the insurance industry, including but not necessarily in an audit firm
- Singapore or international accounting qualification (CPA/ACCA/ACA)
- Strong knowledge of IFRS 17 and good knowledge of IFRS relevant to general insurance
- good knowledge of Singapore general insurance GAAP and MAS Reporting Regulations and methodologies
- Good understanding of industry best practices
- SunAccount advanced user / administrator