At Prudential, we understand that success comes from the talent and commitment of our people. Together, we have a shared vision in securing the future of our customers and our communities.
We strive to build a business that you can shape, an inclusive workplace where everyone’s ideas are valued and a culture where we can thrive together.
Our people stay connected and tuned in to what’s happening around us, keeping us ahead of the curve. While focused on the long-term, we look to the future to bring growth, development and benefit to everyone whose lives we touch.
IFRS 17 Technical & Financial Workstream sets out the technical interpretations, ensures compliance with the IASB Standard and Group accounting policies, performs financial deep-dive & technical analysis and drive appropriate actions to meet Group’s financial & strategic objectives.
The key responsibilities of the role are mainly to lead and drive the technical and financial analysis for IFRS 17 & IFRS 9, develop the Chart of Accounts (CoA), analyze drivers of future MI and KPI, and establish new IFRS 17 related strategy.
Job Descriptions :
Technical and Financial Analysis : Drive IFRS 17 / IFRS 9 accounting and finance related deep dive analysis (e.g. expense studies) and ensure compliance with IFRS17 standard and Group Accounting policy;
Drive technical and operational studies like financial impact assessment; and understand IFRS 17 / IFRS 9 reporting process and advise approach for business plan and MI from finance and accounting prospective.
Drive the auditor engagement for the accounting choices & polices.
Development and Implementation of IFRS 17 CoA : Develop IFRS 17 Chart of Accounts (CoA), included but not limited to journal entries and pro-forma, to align with Group CoA;
List out details for GL and sub-ledger accounting technical requirements to ensure the specifications for data warehouse and general ledger systems incorporate both actuarial and accounting requirements;
Provide direction to resolve technical issues arising from accounting policies (if any); Lead the testing of the actuarial cashflow models, data warehouse and output to the general ledger;
and implement the new IFRS accounting logic or actuarial calculation logic in sub-ledger and Sun GL.
Parallel Run for Results Comparatives : Work closely with Actuarial Team to perform the parallel run for results disclosure comparatives, include the journals posting and use of sub-ledger;
Manage the end-to-end (E2E) testing on the systems & extract, transform and load (ETL) tools if necessary.
Collaboration : Support lobbying activities related to IFRS 17; communicate and cooperate with project teams within / outside the company, including other departments, regional office, consultants and vendors, to ensure they are all aligned
Job Requirements :
Qualified accountant and degree holder in Business of Finance disciplines
At least 9 years relevant experience, candidates with less experience will be considered as Manager
Knowledge or experience with subledger and SunGL
Strong knowledge in life insurance industry or financial accounting reporting
Knowledge or exposure to IFRS 17, IFRS 4 or IFRS 9 is an advantage
Strong oral and written communication and presentation skills in English and Chinese
Strong negotiation and problem-solving skills with proven track record in multi-function team
Strong analytical and problem-solving skills
Strong sense of ownership, interpersonal skills and resources planning
Proficiency in Microsoft Word and Excel
Proficiency in PowerPoint will be an advantage