Overview:
Our client is one of the largest general insurance providers in Barbados, writing business in all areas of general insurance including, Property, Liability, Accident, Motor, Marine, Aviation and Transit Insurance. They also offer insurance coverage for Individual and Group Life, Individual and Group Health, Annuities, Registered Retirement Savings Plans (RRSPs) and Individual and Group Pensions. Due to sustained growth, they are seeking to recruit a skilled professional to add to the team.
In this position the successful candidate will require a deep understanding of insurance accounting, actuarial concepts, financial reporting, familiarity with specialized IFRS 17 software and financial modeling tools. The role reports to the Senior Manager of Financial Reporting & Controls and work closely with the Regulatory Accountant, Actuarial and IT teams.
Duties & Responsibilities:
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Ensure insurance financial statements comply with IFRS 17, focusing on data extraction, system management, reconciliation, financial modeling, and analysis of complex insurance contracts, collaborating with Insurance professionals, IT, and Actuarial teams to support accurate reporting and implementation of new processes and systems.
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Spearhead the interpretation of evolving regulatory guidelines, integrating new accounting frameworks into legacy systems and managing large volumes of complex insurance data.
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Responsibility for assisting Senior Manager, Financial Reporting & Controls in ensuring compliance with IFRS 17 standards and providing accurate financial reporting and analysis to facilitate Executive Management decision making.
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Leads or supports the enhancement of post implementation integration of IFRS 17 standards within the Company.
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Interpret and ensure adherence to IFRS 17 standards to safeguard comprehensive understanding and implementation.
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Extract, evaluate, consolidate and perform detailed reconciliation of data from various sources to aid in IFRS 17 system maintenance and automation.
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Lead or support the preparation and review of IFRS 17 financial statements, reports, and disclosures, ensuring accuracy, compliance and completeness of IFRS 17 related financial data and disclosures.
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Monitors changes in IFRS 17 regulations and assesses the impact on financial reporting practices.
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Analyze business results, model data, and provide technical insights for decision-making.
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Identify inefficiencies, develop solutions, support new process and system integration.
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Focus on improving ongoing operations and playing a key role in leading new project implementations.
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Collaborating with actuarial, IT, insurance professionals and audit teams requiring strong coordination to ensure compliance and accurate reporting.