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Website Santam Insurance
Job Description:
Santam Re has a position available for Accountant: Finance Technical Support, based in Head Office, Bellville and reporting to the Financial Manager for Santam Re.
The overall purpose of this role is to oversee the timely and effective implementation and reporting of IFRS 17, a new reporting requirement that will significantly change the financial reporting of numbers for Santam Re, aligned with the Sanlam Group.
Job Responsibilities:
- Design and implementation of monthly financial reports based on IFRS 17 requirements
- Implementation of IFRS 17 (Insurance Accounting):
- Participation in Santam Re IFRS17 project
- Successful implementation and parallel run of new process
- Monthly reporting to management based on IFRS 17 requirements:
- Providing sufficient support to the group reporting team to answer queries based on new IFRS 17 performance metrics within an acceptable timeframe
- Support and provide advice on the calculation of opening balances (transition calculations) as at 1 January 2022 and manage business and audit sign-off
- Support the dual run during 2022 by engagement with Group Reporting team and relevant business stakeholders (e.g., Finance teams, Executive) to ensure understanding and sign-off of IFRS17 results
- Providing support to the group reporting team during implementation. This could include support with monthly management reporting and bi-annual statutory reporting processes.
- Provide technical advice to finalise development of the relevant system and processes to support a 2023 budget under IFRS17, review and advice on the budget produced, and provide support to business stakeholders in relation to the budget
- Development of communication to relevant internal and external stakeholders, including shareholders and analysts
- Technical advice – set-up of a Centre of Expertise to support corporate finance transactions, new business initiatives, due diligences, as well as technical financial training across the Santam group
Job Requirements:
- Qualified accountant
- Completed training contract with accounting/audit practice
- Experience in financial reporting standards
- Advanced Excel, Word, Powerpoint
- In depth IFRS knowledge
- Tax knowledge would be advantageous
- Knowledge of the various legislation that impact an insurer (i.e. Insurance Act, Companies Act, JSE listing requirements) would be advantageous
- An analytical mind set, specifically focussed on data analysis
- Be able to apply commercial thinking in executing the various reporting requirements
- Experience in project management and the Agile methodology would be advantageous
Job Details:
Company: Santam Insurance
Vacancy Type: Full Time
Job Location: Cape Town
Application Deadline: N/A
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