Senior Accountant, Financial Reporting job at Jubilee Insurance
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Vacancy title:
Senior Accountant, Financial Reporting

[ Type: FULL TIME , Industry: Insurance , Category: Accounting & Finance ]

Jobs at:

Jubilee Insurance

Deadline of this Job:
30 August 2022  

Duty Station:
Within Kenya , Nairobi , East Africa

Summary
Date Posted: Tuesday, August 16, 2022 , Base Salary: Not Disclosed

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JOB DETAILS:
Senior Accountant, Financial Reporting

Main Responsibilities
• IFRS17 Transition and Reporting
• Technical implementation plan, budgeting, and project management.
• Gap analysis, business & financial impact analysis.
• IFRS17 methodology position papers: On options & recommendations under non-prescribed technical decisions e.g., Level of aggregation, contract boundaries, risk adjustment, investment components, reinsurance contracts approach etc.
• Preparing papers for management & board approval for transition approach, budget, system requirements etc.
• Disclosure preparation under IFRS17 reporting requirements.
• Develop controls and documentation around estimates and judgement in IFRS17 implementation for data &
• results consistency, completeness, and accuracy.
• Determination of transition method from full retrospective, modified retrospective and fair value approaches.
• Model Jubilee financial statements under IFRS17 and comparatives to IFRS4.
System Set-Up
• Setting up of the general ledger for the reporting on IFRS17 and OFA software.
• Training other members within the Company.
• Mapping of accounts, development of accounting reports/disclosures, documentation, and communication.
Projections and Budgeting
• Budget and control all IFRS17 costs.
Financial & Regulatory Reporting
• IFRS17 inputs to regulatory reports i.e., Quarterly returns to IRA and tax computations for KRA.
• Support stakeholders on all financial inputs and outputs (Actuarial, Finance, appointed actuary and audit/assurance teams) on IFRS17 reporting within monthly, quarterly & end year reporting timelines.
Profit Testing
• Work with the actuarial team on the profit-testing of the products under IFRS17 and give recommendations on optimal treatment of onerous contracts.
• Risk assessment, management, and reporting under IFRS17 reporting.
Financial Reporting and Operations
• Preparing and maintaining monthly, quarterly, and annual returns to the Insurance Regulatory Authority
• Preparing and reporting of management accounts (MKF) in line with IFRS 17.
• Assisting in annual budgetary process.
• Assist in the preparation of annual financial statements for statutory audit and external audits in line with IFRS
• Preparing board presentations and documents

Key Competencies
• Ownership & Accountability
• Commitment
• Team Spirit
• Customer Focus
• Integrity
• Continuous Innovation

Qualifications
• Bachelor’s Degree in Commerce, Finance, Accounting, Economics, or any other related field.
• CPA-K or ACCA Qualification.
• Well versed with key accounting computer systems operations plus working on spreadsheets.
• Good understanding of IFRS 17 and experience in the implementation of IFRS 17 will be an added advantage.
• Good presentation and communication skills

Relevant Experience
• Minimum of five years relevant experience in the Financial Services Sector and 5 years’ experience in external audit at a supervisory level
• Experience in reviewing and addressing gaps in insurance operations.


Work Hours: 8


Experience in Months: 60

Level of Education:
Bachelor Degree

Job application procedure

If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com  quoting the Job Reference Number and Position


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QUICK ALERT SUBSCRIPTION

Job Info
Job Category: Accounting/ Finance jobs in Kenya
Job Type: Full-time
Deadline of this Job: 30 August 2022
Duty Station: Nairobi
Posted: 16-08-2022
No of Jobs: 1
Start Publishing: 16-08-2022
Stop Publishing (Put date of 2030): 16-08-2066
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