|Location||Pretoria, Gauteng, South Africa|
AFRICA'S LARGEST MUTUAL ASURANCE SOCIETY PROVIDING A ONE-STOP FUNERAL INSURANCE AND BURIAL SOLUTION, HAS A VACANCY FOR:
Implementation of new IFRS standards and interpretations and to provide IFRS support to
finance operations. To support the AVBOB Finance Department according to sound financial
systems, practices and processes that are compliant with the relevant legislation, meet
principles of market best practices and allow AVBOB to achieve its strategic financial
KEY RESPONSIBILITIES INCLUDE:
Closely follow IFRS developments and determine the impact on the AVBOB Group
Coordinate and lead activities relating to the finance work-stream regarding the implementation of IFRS
17 Insurance within the Group
Ensure correct adaptation of IFRS changes
Develop work plans and controlling instructions (controlling framework)
Drive improvements in the financial reporting process and ensure stakeholder requirements are met
Create and maintain the AVBOB Group Finance reporting Manual
Ensure appropriate documentation in support of significant matters of accounting judgement
Assist with external reporting requirements
Assist with the co-ordination of the external audit of the AVBOB Group
Ad-hoc financial reporting tasks and analysis.
Understand and document existing Finance processes and map out future processes to assist with the
successful implementation of IFRS 17
Review financial statements and ensure continued improvement and compliance with IFRS principles
and related developments
Provide support for and resolution of issues arising from the business as usual and routine transactions.
Promote the principles of good accounting practices and continuous improvement.
Ensure compliance with documented internal controls, maintaining documented processes, verifying
appropriateness of identified risks and relevant controls to mitigate risks
Participate in compliance reviews.
Understand and apply existing best practice frameworks to assist in the implementation of
specified subject matter processes and standards
Proactively identify problems, determine the cause and recommend implementation of corrective
Develop a thorough understanding of IFRS 17 from an accounting perspective through conducting
and documenting research.
Provide technical application and interpretation of IFRS 17 accounting standards to the IFRS
Project Team and the business
Communicate the impact on the business planning process and reporting processes as a results of
the changes effected by IFRS 17
Contribute to the enhancement of systems and process issues in order to enhance financial
management to contribute to the client reporting
Provide IFRS technical support on financial matters relating to existing and emerging business
within the Group
Assist with changes in accounting policies and adoption of new accounting policies as required
Prepare answers for consultation, provide advice and prepare positions on technical questions
regarding IFRS-related matters
Review and provide comments on IFRS financial statements
Support the accounting teams regarding local regulatory enforcement reviews
Design training and workshops for internal employees on any IFRS related topic
Identify the need for IFRS and other financial reporting training
Invest time and stay up to date with recent developments and amendments to IFRS standards by
attending IFRS training / updates and following newly issued IFRS materials.
Lead and help design the financial and actuarial solution to enable the IFRS 17 reporting requirements
Understand the new IFRS 17 requirements and clearly and timeously communicate such requirements
to the IFRS 17 Project Team, the Corporate Actuarial Team, the Finance Team and Reporting and other
Produce functional specification for the Insurance General Ledger (GL) for IFRS 17 reporting whilst
maintaining reporting based on IFRS 4
Detailed design of parallel run GL including mapping of non-IFRS 17 data to chart of accounts
Detailed design and specification of GL reconciliations between IFRS 4 and IFRS 17
Design accounting and posting framework and chart of accounts in sub-ledger that align and
synchronise with GL
Develop business requirements for disclosure and reporting
Redesign the posting rules of business events and mapping to sub-ledger
Work closely with other work-stream teams to support them in syndicating, validating and implementing
Collaborate regularly with the Corporate Actuarial Team on the IFRS 17 project
Be an active full-time participating member of the IFRS 17 project team and deliver on tasks committed
Comply with risk and governance policies, implement and provide subject matter input to the
development of related processes
Ensure that established accounting standards, procedures and processes are adhered to, in
compliance with legislative regulations and group governance frameworks
QUALIFICATION REQUIREMENTS FOR THIS POSITION:
B.Com degree or equivalent qualification.
EXPERIENCE AND KNOWLEDGE REQUIRED FOR THE POSITION
3 years technical accounting experience after completion of articles.
Knowledge of International Financial Reporting Standards (IFRS) and local accounting practices.
Knowledge of relevant financial legislation.
Knowledge of financial modelling.
Knowledge of company business planning and business management principles.
Knowledge of Taxation (Company, Personal and VAT)
Organising and business understanding.
Good strategic planning.
COMPETENCIES REQUIRED FOR THE POSITION
Good financial, numeric and accounting skills.
Attention to detail.
Excellent communication skills (verbal / written)
Articulating and cascading the vision and values.
Strong management and leadership abilities
Strong strategic, analytical and organisational skills
Good judgement, decision making and decisive insight
Strong relationship building and networking skills.
Be able to initiate action.
|Job Closing Date||11/06/2021|