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Job Details

Location
Sydney
Salary
$800 - $900 per day, Benefits: + Super
Job Type
Contract
Ref
BH-164622-1
Contact
Andrew McPherson
Contact email
Email Andrew
Posted
3 days ago
Our client is a leading Australian insurance group and employer of choice.  

They have an opportunity for an experienced Senior Financial Reporting or Technical Accounting Leader with strong insurance experience to lead the accounting stream of their IFRS 17 project team.  

Reporting into the Program Director, IFRS 17 you will be responsible for clarification and interpretation of accounting policy and accounting standards requirements of IFRS17/AASB17, providing technical accounting advice to the project team:
  • Define and deliver on the approach for the technical accounting stream, including defining milestones and outputs and overall project management of the stream to ensure outcomes are delivered per plan.
  • Work closely with the wider project team to ensure technical accounting lens is applied when financial systems and process changes are designed, tested and implemented in preparation for the new standard. This involves clarification and interpretation of accounting policy and accounting standards requirements.
  • Technical sign off on requirements.
  • Document design and decision points around methodology components for review and approval by senior finance stakeholders in Design Committee and Steering Committee.  Including identification of best options for the group where a choice is available having regard to both accounting outcomes and practical implementation issues.
  • Produce IFRS17 technical papers and accounting policy documents for Design Committee and Steering Committee review and approval.
  • Work with Risk, Compliance and Assurance to identify and review controls and processes that are associated with the Accounting processes.
  • Work with the Actuarial team to align upstream and downstream impacts.
  • Produce IFRS17/AASB17 impact on Balance Sheet and Profit and Loss.
  • Produce Quantitative Impact Study (QIS) APRA submissions as required by APRA.
  • Keep close to the developing interpretations in Australia, and considering preferences for the group, around the various aspects of the standards. This would include attendance to Industry sessions on IFRS17 and occasional ad-hoc meetings with the Big 4 accounting firms.
  • Train Group Finance and Business Unit Finance teams on technical accounting issues and/or technical accounting updates in relation to IFRS17.
This will be a rolling 6 month contract likely to run for up to 2 years and potentially lead onto a further project in the pipeline.

Required skills and experience:

  • Chartered accountant or equivalent qualification with 5 or more years relevant post qualification experience at manager / leadership level in financial accounting/reporting in the insurance industry (preferably Life insurance).
  • A strong understanding of accounting principles and technical accounting standard requirements, general knowledge of Corporations law, and other regulatory requirements (such as APRA and ASX) in Australia. 
  • Good understanding and interpretation of insurance company financial statements.
  • Sound knowledge of financial control practices, processes and discipline.
  • Ability to represent Group Finance effectively and influence and persuade other Finance teams and key stakeholders.
  • Strong verbal, written and presentation skills
  • Active management of project deliverables and ability to execute to project deadlines
  • Highly organised and details oriented
  • Working effectively and cooperatively with others; establishing and maintaining good working relationships