Technical Accountant: Finance at Land Bank Careers

MAIN PURPOSE OF THE JOB

• To provide technical accounting support and operational expertise in order to provide relevant and reliable information for business decision making through the design, implementation and maintenance of effective financial processes, procedures and policies for Land Bank Insurance 

Key Performance Areas    

• Provide technical accounting support to the finance team, relating to all line items of the Managament Accounts as well as the Statement of Financial Position and Statement of Profit & Loss

General

• Provide quality assurance relating to each line item on the Balance Sheet as well as Profit & Loss
• Review monthly manangement accounts to ensure accounting recognition, measurement, classification and disclosures are correct
• Perform analytical review of month to month movements mainly in terms of insurance contract assets, insurance contract liabilities as well as re – insurance contracts, accounts payable and receivable, etc
• Provide technical input to Board and Sub – committee packs
• Assist in general ledger maintenance (eliminate legacy items, rectify naming descriptions, etc)
• Assist with VAT queries

IFRS 17 Insurance Contracts specific (monthly):

• Facilitate communication between Finance, Operations and Actuarial (specifically month - end and year – end)
• Ensure reporting timelines are met by engaging Operations and Actuarial teams
• Facilitate financial data between Finance, Operations and Actuarial
• Review risk intergrity output and engage Operations/ Actuarial if any anomolies
• Ensure journals from Risk Integrity are posted correctly in SAP GL
• Perform high level review of the input data going into risk integrity
• Ensure expense allocation in terms of IFRS 17 is up to date and in line with accouting policy
• Ensure insurance contract liablities and assets are based according to IFRS 17, accouting policies and accounted correctly

Adhoc

• Respond to queries from Actuarial team reading quarterly and annual returns to the Prudential Authority
• Investigate IFRS and Tax legislation changes that affect the Insurance entities.
• Assist with correspondence to be provided to external stakeholders such as Land Bank, National Treasury, Prudential Authority etc…
• Provide guidance in procurement matters by referencing the PFMA as well as procurement policy.

Annual Financial Statements and Corporate Plan budget

Annual Financial Statements

Perform quality assurance of each line item and ensure mapping is accurate and correct Provide quality assurance on disclosure such as:

• Investments -  Liase with investment consultant to ensure classification of assets  are correct, e.g. Listed/ Unlisted assets are disclosed as such and in line with IFRS 9
• Insurance contract asset and liability notes are disclosed according to IFRS 17
• Accounting policies are consistent and relevant
• Provide advise on the technical updates in the disclosure of their AFS
• Assist the Land Bank, if required, with the group consolidation
• Liase with external auditiors and facilitate responses to audit queries

Corporate Plan budget

• Assist in assumption setting, ensuring assumptions are relevant and realistic
• Liase with relevant business within LBI to understand their budget assumptions
• Assist head of finance in drafting budget, by providing technical inputs taking future accounting and tax changes into account

Preferred Minimum Education and Experience    
CA (SA)

• 2-4 years experience including:
• Preferrably in Insurance
• Experience in Financial Management / Management Accounting and AFS preparation
• Exposure to Insurance Accounting, Regulations and Regulatory Reporting
• Advanced knowledge of IFRS
• Good understanding of VAT
• Critical Competencies    
• Business Acumen
• Short Term & Long term insurance Act
• FSCA Requirements
• International Financial Reporting Standards (IFRS)
• Tax Legislation
• Financial Reporting
• Solvency Assessment Mangement (SAM)
• Additional Requirements    
• Extended hours as and when required
• Travel as and when required