Ifrs Specialist

2 weeks ago

Cape Town, Western Cape, South Africa Santam Full time
What will you do?


Santam Financial Risk Management has a position available for IFRS Specialist, based in Head Office, Bellville and reporting to the Deputy Chief Risk Officer.


The overall purpose of this role is to provide specialist accounting technical requirements for the Santam Group (including subsidiaries such as Centriq, SSI and MiWay).

This includes working closely with the Corporate Finance division to ensure that all new acquisitions are adequately assessed in terms of the accounting impact that these transactions might have on the company and the group as well as all the subsidiaries and business units of Santam.

A key focus of the role will be to oversee the timely and effective implementation of IFRS 17, a new reporting requirement that will significantly change the financial reporting of all insurance companies across the Santam Group, aligned with the Sanlam Group.

The role forms part of the Risk Office who ultimately provides support to the Chief Risk Officer. What will make you successful in this role?

Design and implementation of group and interim financial statements based on IFRS 17 requirements

Implementation of IFRS 17 (Insurance Accounting):
Participation in project to determine impact on group
Regular communication to project participants
Successful implementation and parallel run of new process
Design and implementation of a new chart of accounts for the group
Design and implementation of monthly reporting to management based on IFRS 17 requirements:
Providing sufficient support to the group reporting team to answer queries based on new IFRS 17 performance metrics within an acceptable timeframe
Providing support to the group reporting team during implementation

Reporting to Sanlam:

Align project requirements for IFRS 17 with the Sanlam group project team
Map new chart of accounts used for Santam reporting to the new Sanlam chart of accounts

Optimisation of systems and processes:

Manage required IFRS 17 changes to all systems and process (including JDE/HFM - this will predominantly include the design of a new chart of accounts that will be implemented across the entire group)
Effectively manage expectations of all stakeholders (mainly project related resources, subsidiaries and business units)
Provide overall technical support ito corporate finance transactions as well as other IFRS changes Qualification and Experience

CA (SA)
At least 5 years' experience post articles in a technically demanding role. Specific focus on IFRS 17 experience.
Experience in implementing significant reporting changes Knowledge and Skills

Advanced Excel, Word, PowerPoint
Hyperion Financial Management or similar consolidation tool
In depth IFRS knowledge
Tax knowledge
Knowledge of the various legislation that impact an insurer (i.e. Insurance Act, Companies Act, JSE listing requirements)
An analytical mind set, specifically focused on data analysis

Santam is the market leader in the general insurance industry in Southern Africa.

We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia.


Our success is rooted in our passion for our clients and everything we do is centered on our delivery of Insurance Good and Proper.

We're about people.

People drive our business so it follows that we want to recruit the best people possible whether they work for us permanently or for a short time as temporary employees.

At Santam we are committed to transformation and embracing diversity.

This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society.

In achieving our employment equity goals we give preference to applicants from the designated groups in alignment with the Divisions Employment Equity targets.

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