Head of Quantitative Financial Reporting

4 weeks ago

Sandton, South Africa Guardrisk Full time

**Introduction**
- To deliver the end-to-end IFRS17 reporting for Guardrisk Life in partnership with stakeholders across Group, BSM (Life) and Finance, as well as HAF and external audit. Further effectively lead the team responsible for the Life IFRS17 reporting, the preparation of the Group consolidation reporting and Guardrisk AFS.

**Disclaimer**
- As an applicant, please verify the legitimacy of this job advert on our company career page.

**Role Purpose**
- To deliver the end-to-end IFRS17 reporting for Guardrisk Life in partnership with stakeholders across Group, BSM (Life) and Finance, as well as HAF and external audit. Further effectively lead the team responsible for the Life IFRS17 reporting, the preparation of the Group consolidation reporting and Guardrisk AFS.

**Requirements**:

- At least 5-10 years experience in Life Insurance reporting
- At least 3 years people management experience
- In depth experience with implementation of, and actuarial reporting on, International Financial Reporting Standard 17 (IFRS17) basis essential
- Insurance liability modelling experience
- Group consolidation and reporting experience advantageous
- Knowledge of Financial services industry
- Knowledge of relevant legislation
- Knowledge of applicable legislation landscape
- Knowledge of accounting practices
- Knowledge of relevant computer software: Prophet & Aptitude
- Bachelor's Degree in Actuarial Science
- Specific licensing or registration: Fellow of the Actuarial Society of South Africa

**Duties & Responsibilities**
- Lead the on-going implementation of IFRS 17 accounting standard, ensuring timely and accurate adoption across the organization
- Co-ordinate and lead the maintenance and management of the data, models and systems used for IFRS 17 reporting and work with Data and Balance Sheet Management teams to ensure their accuracy and robustness
- Lead, oversee, manage, analyse, monitor and review the quarterly, bi-annual and annual IFRS17 modelling reporting requirements for Guardrisk Life (GRL) and Guardrisk Life International Limited (GLIL) to enhance the value of reporting to the business and stakeholders
- Oversee the implementation of standards and regulations as related to reporting and take corrective action when standards and regulations are not met
- Define and provide strategic input in terms of IFRS accounting standard impact, as well as the impact on financial reporting for the Momentum Group
- Identify interconnected problems, determine the impact and develop solutions, driving best practice
- Liaise with auditors on modelling, disclosure and reporting issues to obtain external audit sign off
- Review and where necessary, prepare submissions to the Guardrisk Group Audit and Risk Committees and Momentum Group Actuarial Commitee
- Partner with the finance community and reporting teams in the financial reporting process of the Guardrisk and Momentum Groups
- Support stakeholder value enhancement initiatives through quantifying the expected financial impact of potential solutions
- Oversee and manage the reporting process and monitor reporting tools such as Prophet, SQL and Aptitude to improve efficiency and effectiveness of the current reporting process
- Take accountability for actuarial and accounting data input and output in the IFRS17 reporting process across systems and tools
- Incorporate international companies and other entities into the reporting processes, in particular focusing on liabilities reporting requirements
- Manage and utilise resource allocation, implementing systems and planning operations to optimise goal achievement of functional area
- Ensure the effective liaison, planning and co-operation during year-end and interims and quarterly reporting with:

- Balance Sheet Management
- Guardrisk Financial Reporting teams
- Momentum Group reporting teams
- Effectively strategise, plan and manage the delivery of IFRS Reporting team deliverables
- Manage and oversee the quarterly consolidation and reporting process of the Guardrisk Group
- Review of key reporting deliverables prepared as part of the quarterly reporting process
- Attending Guardrisk Group Audit and Risk Committee meetings where the Guardrisk Group financial statements are signed-off
- Provide insights to business on various financial scenarios and financial implications for new business and acquisitions
- Suggest and support process improvements within the team, include system enhancements and changes/improvements to controls
- Ensure accurate and timely preparation of financial reports for management, regulators, and auditors in compliance with IFRS 17
- Maintain effective and efficient controls over the financial reporting process to ensure accuracy and compliance.
- Identify areas for process automation or enhancement to improve the efficiency of IFRS 17 reporting
- Work with cross-functional teams (Balance Sheet Management, Data and Finance) to streamline workflows and reduce manual intervention in IFRS 17 calc

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