IFRS 17 Reporting Specialist (Insurance Sector)
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Job Location:
Bridgetown - Barbados
Monthly Salary:
BBD 12000 - 12000
Posted on:
6 hours ago
Vacancies:
1 Vacancy
Job Summary
Overview:
Our client is one of the largest general insurance providers in Barbados writing business in all areas of general insurance including Property Liability Accident Motor Marine Aviation and Transit Insurance. They also offer insurance coverage for Individual and Group Life Individual and Group Health Annuities Registered Retirement Savings Plans (RRSPs) and Individual and Group Pensions. Due to sustained growth they are seeking to recruit a skilled professional to add to the team.
In this position the successful candidate will require a deep understanding of insurance accounting actuarial concepts financial reporting familiarity with specialized IFRS 17 software and financial modeling tools. The role reports to the Senior Manager of Financial Reporting & Controls and work closely with the Regulatory Accountant Actuarial and IT teams.
Duties & Responsibilities:
- Ensure insurance financial statements comply with IFRS 17 focusing on data extraction system management reconciliation financial modeling and analysis of complex insurance contracts collaborating with Insurance professionals IT and Actuarial teams to support accurate reporting and implementation of new processes and systems.
- Spearhead the interpretation of evolving regulatory guidelines integrating new accounting frameworks into legacy systems and managing large volumes of complex insurance data.
- Responsibility for assisting Senior Manager Financial Reporting & Controls in ensuring compliance with IFRS 17 standards and providing accurate financial reporting and analysis to facilitate Executive Management decision making.
- Leads or supports the enhancement of post implementation integration of IFRS 17 standards within the Company.
- Interpret and ensure adherence to IFRS 17 standards to safeguard comprehensive understanding and implementation.
- Extract evaluate consolidate and perform detailed reconciliation of data from various sources to aid in IFRS 17 system maintenance and automation.
- Lead or support the preparation and review of IFRS 17 financial statements reports and disclosures ensuring accuracy compliance and completeness of IFRS 17 related financial data and disclosures.
- Monitors changes in IFRS 17 regulations and assesses the impact on financial reporting practices.
- Analyze business results model data and provide technical insights for decision-making.
- Identify inefficiencies develop solutions support new process and system integration.
- Focus on improving ongoing operations and playing a key role in leading new project implementations.
- Collaborating with actuarial IT insurance professionals and audit teams requiring strong coordination to ensure compliance and accurate reporting.
Requirements
- Finance/Accountancy: PhD (1 year requisite work experience); MSc (3 years requisite work experience) or BSc (5 years requisite work experience). Professional Certifications (as applicable): Relevant certifications such as CPA / CA / ACCA preferable.
- In-depth experience in IFRS implementation. Proficient accounting knowledge IFRS 17 expertise financial modeling data analysis and adept with relevant systems (e.g. Power BI SAP).
- Prior experience in Insurance Finance or Audit managing and handling financial accounting operations of an insurance company.
- Proficient in analytical problem-solving and data interpretation skills.
- Competent Project Management capabilities
- Business Language Skills: Good command of written and spoken English essential effective communications skills attention to detail and collaboration.
Company Industry
IT Services and IT Consulting
Key Skills
- Sales Experience
- Time Management
- Marketing
- Customer Service
- Communication skills
- Retail Sales
- Business Management
- Outside Sales
- Telemarketing
- Insurance Sales
- Medicare
- Phone Etiquette
