Senior Financial Officer - IFRS 17 at Nedbank

Job Purpose

To be the Technical accounting lead in the IFRS 17 implementation project for three insurance companies within Nedbank Insurance.

Job Responsibilities

• Develop a thorough understanding of the IFRS17 from an accounting perspective through conducting and documenting research.
• Provide technical application and interpretation of IFRS17 accounting standards to the IFRS Project Team and the business.
• Maintain an understanding of key business activities in order to provide such technical accounting support.
• Collaborate regularly with the Corporate Actuarial Team on the IFRS17 project team.
• Understand the new IFRS17 requirements and clearly and timeously communicate such requirements to the IFRS17 Project Team, the Corporate Actuarial Team, the Finance Team and Cluster Reporting and other relevant stakeholders.
• Keep an abreast of any new pronouncements from the IASB new pronouncements to remaining up to date with any changes to the financial reporting standards that directly impact the Nedbank Insurance business.
• Be an active full-time participating member of the IFRS17 project team and deliver on tasks committed.
• Understand and document existing Finance processes and map out future to be processes to assist with the successful implementation of IFRS17.
• Be an active full time participating member of the IFRS17 software implementation project.
• Present progress on the project for allocated workstreams to the IFRS17 Steering Committee every 2 months.
• Communicate the impact on the business planning process and reporting processes as a result of the changes effected by IFRS17.
• Provide training and updates on the project progress to the Finance Manco on the IFRS17 on a monthly basis.
• Attend relevant IFRS17 training sessions and workshops to keep abreast of developments.
• Determine the new SAP chart of accounts for IFRS17 in conjunction with the implementation of IFRS17 software.
• Determining the new expense allocation for IFRS17 purposes.

Qualification:

• Matric
• BCom (Hons)
• CA(SA) - preferrable

Minimum Experience: 

•  3 - 5 years in financial management preferably in the financial services or Insurance Industry.
• Experience in IFRS17 is non-negotiable.