IFRS 17 Reporting Specialist (Insurance Sector)

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.

• 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.
• Spearhead the interpretation of evolving regulatory guidelines, integrating new accounting frameworks into legacy systems and managing large volumes of complex insurance data.
• 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.
• Leads or supports the enhancement of post implementation integration of IFRS 17 standards within the Company.
• Interpret and ensure adherence to IFRS 17 standards to safeguard comprehensive understanding and implementation.
• Extract, evaluate, consolidate and perform detailed reconciliation of data from various sources to aid in IFRS 17 system maintenance and automation.
• 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.
• Monitors changes in IFRS 17 regulations and assesses the impact on financial reporting practices.
• Analyze business results, model data, and provide technical insights for decision-making.
• Identify inefficiencies, develop solutions, support new process and system integration.
• Focus on improving ongoing operations and playing a key role in leading new project implementations.
• Collaborating with actuarial, IT, insurance professionals and audit teams requiring strong coordination to ensure compliance and accurate reporting.

Requirements

• Finance/Accountancy: PhD (1 year requisite work experience); MSc (3 years requisite work experience) or BSc (5 years requisite work experience). Professional Certifications (as applicable): Relevant certifications such as CPA / CA / ACCA preferable.
• In-depth experience in IFRS implementation. Proficient accounting knowledge, IFRS 17 expertise, financial modeling, data analysis, and adept with relevant systems (e.g. Power BI, SAP).
• Prior experience in Insurance, Finance or Audit managing and handling financial accounting operations of an insurance company. 
• Proficient in analytical, problem-solving and data interpretation skills.
• Competent Project Management capabilities
• Business Language Skills: Good command of written and spoken English essential, effective communications skills, attention to detail and collaboration.