IFRS17 Senior ManagerFinance
- Salary: GBP 75000.00 per year - GBP 90000.00 per year
- Location: London
- Job type: Permanent
- Reference: BBBH139279
IFRS 17 is the new accounting standard for insurance contracts, which is due to be implemented on 1 January 2021. This is a significant accounting change for insurers in the UK. As such, a joint risk-finance implementation programme has been established to manage the required changes across our clients global Insurance operations.
The role holder will:
- Support the analysis, interpretation and understanding of the requirements of IFRS17 and the impact on the insurance business
- Draft technical papers on the key elements of the requirements for IFRS17
- Provide technical support on the implementation of IFRS 17 to Finance and Business teams by liaising with the Subject Matter Expert ('SME') groups
- Formulate and recommend Group accounting policies, providing detailed guidance on policies around IFRS 17
The role holder will act as a key technical person for the IFRS 17 analysis and interpretation, which will support the key decisions being made by Group Insurance in the initial stages of the implementation of IFRS17.
The role will require good knowledge of insurance products and technical accounting under current IFRS and be able to apply that to the interpretation of IFRS17.
The role will be varied in terms of its activities and will require an individual who is interested in fully understanding the nature of our clients insurance products so they can support the drafting of policy papers and recommendations that are specific to the requirements of the organisation.
Customers / Stakeholders
There will be a requirement to interact with multiple stakeholders across the insurance business to ensure that all matters are considered and the impacts understood of IFRS 17.
In order to achieve this, it is vital to promote and maintain effective working relationships and engage with all internals stakeholders to ensure delivery of solutions to specification.
Experience & Qualifications
- Qualified Associate Chartered Accountant (ACA) with a recognised UK institute such as ICAEW or overseas equivalent.
- Significant life insurance experience including a solid understanding of policy administration, actuarial and accounting systems
- Exceptional IFRS technical accounting skills from industry or professional practice, including experience of drafting technical accounting papers and challenging current practice in order to drive improvement
- Good working knowledge of IFRS 17
- Post qualification experience of financial reporting, auditing, and ideally technical accounting in IFRS.
- Preparation/audit of financial statements under IFRS with either an audit practice (Big Four audit firm preferable) or an insurer in the UK.