Head of Finance

Introduction

Guardrisk is the undisputed market leader in cell captive insurance and risk solutions. We are renowned for our innovative approach to cell captive structures and other alternative risk transfer solutions for our clients. Guardrisk offers clients custom designed cover and is registered in South Africa as an insurer for all statutory classes of non-life and life insurance business.

Disclaimer

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Role Purpose

Continuous oversight of the day to day operational activities of the Short terms clients accounts teams (Underwriting Managers and Volume & Affinity). Providing continuous support to the Finance team and other relevant business areas in Guardrisk from a finance perspective.

Requirements

Qualifications

Honours BCom Finance

Completed Articles / Traineeship

Chartered Accountant (preferred)

Experience

5 – 10 years' experience in accounting

Duties & Responsibilities

Coordinate and control financial management process

(Internal Process)

Manage and monitor the day to day operational processes within the Non-Life client accountings space for the Volume and Affinity and Underwriting Managers.

Assist in reviewing reconciliation performed by the client accounting team to identify areas for improvement or to identify possible errors and provide feedback where required.

Perform an independent review of financial results of cells, contingency policies and promoter cells on an adhoc/unpredictable basis to help identify problem areas for improvement or intervention. This will be done by scrutinising the Income Statement over a period and the Balance Sheet at a given point in time and performing strategic checks to identify areas for improvement.

Establishing sustainable review and monitoring processes throughout the client accounting functions to curb recurring mistakes.

Identify and resolve high risk problem areas and contentious issues that need to be managed in more detail within the client accounting space.

Obtain detail understanding of problems identified and perform reconciliation in support of decisions to be made relating to these high-risk projects.

Prepare working papers and documentation: as support for thought process and adjustments made;

for reporting and presentation to management and clients where application; to help facilitate decision making and agreement to adjustment; and to serve as proof of work and audit evidence.

Manage and provide feedback on high risk projects identified to the relevant stakeholders at the agreed upon intervals.

Provide support to other projects affecting the client accounting and broader finance team.

Provide overview of the client take on process to ensure smooth on-boarding of clients. This includes providing guidance on the following:

Obtaining an understanding of the client, their systems, and reposting processes;

Obtaining and understanding of the type of products sold and the terms relating to this to accurately determine the risk codes to be used, which will have SAM implications.

Checking initial bordereaux to ensure that it is compliant with internal requirements, and that all the relevant detail is contained in the bordereaux to ensure accurate capturing and reporting by client accounting.

Obtaining and understanding of the reinsurance structure of the client to ensure that each cell is set up in a way to make the reinsurance processes and reporting more efficient and also that the reinsurance accounting is done accurately and completely.

Ensuring that all relevant agreements are in place (shareholders agreements, binder agreements, intermediary agreements and float agreements.

Ensuring that the CIMS setup of the client is complete and accurate.

Handing each client over to the client accounting team with a proper client manual.

Assist with the completion of due diligences as part of the PMC process.

Assist with training sessions for accountants and clients to streamline processes in areas identified for improvement from reviews performed.

Assist with the documentation of standard operating procedures and process/ guidance documents.

Guide and assist portfolio accountants with smaller client related projects.

Tracking key balances and indicators to identify potential problems and process failures.

Coordinating the compilation of month end reporting on debtors, unallocated cash, reinsurance, and other key balances.

Assessing and understanding key balance to determine the impact on SAM calculations.

Monitoring key month end processes including but not limited to:

Cash Allocation,

Completion of monthly recons,

Tracking outstanding month end processing,

Coordinating with Actuarial for the monthly UPR calculations,

Reviewing management fees to ensure completeness,

Distributing month end timetables to the business,

Completion of CSA questionnaires,

Monitoring the CIMS change and review process,

Monitoring closure of dormant and run-off cells,

Coordinating monthly team leader meetings,

Reviewing and approving payments based on the monthly roster distributed.

Portfolio support and management/servicing by working closely with the portfolio managers, accountants, reinsurance team and other colleagues.

Contribute to the enhancement of systems and processes issues to enhance financial management, streamline processes, and contribute to time saving.

Driving key projects on system developments an improvement such as automation and modernisation.

Continuously develop own expertise in terms of professional, industry and legislation knowledge.

Contribute to continuous innovation through the development, sharing and implementation of new ideas.

Participate and contribute to a culture which build rewarding relationships, facilitates feedback and provides exceptional client service within the organisation.

Contribute to the internal and external audit process and resolve any audit queries within the deadlines set.

Assist with ad hoc projects, such as changes in regulatory and reporting standards that require finance related changes to be made.

Taking ownership of the development of the client accounting team by identifying training needs and taking action to address this.

Ensuring knowledge share by spending additional time with selected accountants to innovate the way we process clients to drive time efficiency.

Engage with clients in a client centric manner

(Client Services)

Provide authoritative, expertise and advice to clients and stakeholders.

Build and maintain relationships with clients and internal and external stakeholders.

Make recommendations to improvement client service within area of responsibility.

Participate and contribute to a culture which build rewarding relationships, facilitates feedback and provides exceptional client service.

Self-management and teamwork

(People)

Build and maintain quality trust relationships with clients as well as internal and external stakeholders.

Develop and maintain productive and collaborative working relationships with peers and stakeholders.

Positively influence and participate in change initiatives.

Continuously develop own expertise in terms of professional, industry and legislation knowledge.

Contribute to continuous innovation through the development, sharing and implementation of new ideas.

Take ownership for driving career development.

People Management - Actively monitoring the functioning of the client accounting team and managing any staff related matters and monitoring staff welfare.

Responsible for setting of team goals and conducting performance reviews to ensure constructive feedback is provided and appropriate development for the team.

Participating in increase and bonus discussions and decision making.

Assisting in the process to appoint appropriate staff to ensure efficient operation of the team and compliance with business needs.

Competencies

Business Acumen

Understands how the business operates, what the key issues and risks are that drives business success; and how they impact on the commercial viability of potential ventures and the profitability of the Group.

Collaboration

Prioritises the business interests of Guardrisk and invests in the success of the group by aligning effort across divisions.

Client/Stakeholder Commitment

Anticipates, meets and exceeds client's needs by creating long lasting relationships that support the client value proposition, supports their financial wellness and ensures client centricity.

Impact and Influence

Persuades, convinces, influences and inspires others, both within Guardrisk and externally to win support, loyalty and gain commitment to the purpose of Guardrisk.

Drive for Results

Drive a sense of urgency, focus, accountability, agility and execution to deliver business results accurately and timeously.

Self-Awareness and Insight

Manages self and relationships with others effectively and provides perspective in difficult situations.

Leads Change and Innovation

Actively leads change, does what is right for the business and drives continuous improvement through innovation.

Diversity and Inclusiveness

Is sensitive to individual and cultural similarities and differences and demonstrates humility and an openness to engage people from diverse backgrounds and cultures to the mutual benefit of all parties concerned.