Senior Financial Officer: IFRS 17 at Nedbank

Job Purpose

To be the Technical accounting lead in the IFRS17 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 documentiong 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.

• Understanding 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 impacts the Nedbank Insurance business.

• Be an active full-time participating member of the IFRS17 project team and deliver on tasks committed.

• Understand and document exisiting 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.

• Determing the new SAP chart of accounts for IFRS17 in conjunction with the implementation of IFRS17 software.

• Determinng the new expense allocation for IFRS17 purposes.

People Specification

Essential Qualification

CA(SA)

Essential Certifications

• SAICA

Type of Exposure

• Checking accuracy of reports and rec

• Analysing and interpreting quantitative and qualitative data Working with a group to identify alternative solutions to a problem

• Sharing information in different ways to increase internal stakeholders understanding

• Communicating internally and external

• Tracking cost against a budget

• Drafting reports

• Communicating internally. Managing customer expectations Working in a team

• Working in a fast-paced environment; meeting deadlines

• Working with spreadsheets

• Interacting with diverse people and cross-functional groups

Minimum Experience Level

• 5- 6 years in financial management preferably in the financial services industry.

• Experience in IFRS17 is non-negotiable

• CA(SA) - non:negotiable

Technical / Professional Knowledge

• Administrative procedures and systems

• Banking procedures

• Cluster specific operations

• Data analysis

• Governance, Risk and Controls

• Relevant regulatory knowledge

• Relevant software and systems knowledge

• Business writing skills

• Microsoft Excel

• Microsoft Powerpoint

Behavioural Competencies

• Building Customer Loyalty

• Communication

• Decision Making

• Initiating Action

• Managing Work

• Quality Orientation