Financial Accounting and Reporting Associate Manager (IFRS 17)

About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

For more information, please visit www.fwd.com

About FWD Life Philippines 

FWD Life Insurance Corporation (FWD Life Philippines) launched its commercial operations in September 2014. As of end-2022, FWD Life Philippines ranks 3rd and 6th in terms of Paid-up Capital(1) and New Business Annual Premium Equivalent(2), respectively.

For more information, please visit fwd.com.ph. 

1 www.insurance.gov.ph > Statistics > Life > 2022 > Based on Paid-Up Capital

2 www.insurance.gov.ph > Statistics > Life > 2022 > Based on New Business Annual Premium Equivalent

Job Description
Provide a summary or brief description of the role, success indicators for the
position and impact of the role in the organization.
This role sits within the Financial Accounting and Reporting (FAR) team who is responsible for a variety of reporting bases including IFRS, PFRS, and Statutory reporting.

1. Perform tasks related to Finance implementation of IFRS 17 Insurance Contracts (assist in various system testing in relation to IFRS 17 implementation and data migration)
2. Responsible for preparation of policy data to be used for quarterly IFRS17 Tool pack run, ensuring accuracy and completeness.
3. Ensure required reconciliations between IFRS accounting rules system, ledger and disclosures are completed (including Balance Sheet Reconciliation and various recon files related to IFRS17 results)
4. Coordinate between local team, Group office and external consultants on financial accounting matters (e.g. preparation of accounting papers, discussion of new accounting standards)

5. Provide support relating to insurance policy data during audit of external auditors and during submission of quarterly and annual submission to the Insurance
Commission
6. Assist in any ad hoc tasks as assigned to financial accounting and reporting

Job Qualification and Experience:

• Bachelor’s degree with major in Accountancy
• CPA (preferred) and relevant professional qualification required
• At least 4 years of finance experience (BIG 4 Audit - Financial Services Industry experience) or at least 5 years of accounting and reporting experience in an insurance
company
• Previous experience of application and/or interpretation of accounting standards (IFRS and IAS), particularly accounting for financial instruments and insurance contracts
• Part of IFRS17 project implementation team (preferred)

Technical Competencies:

• Knowledge in IFRS 17 and insurance company's financial statements;
• Good understanding of life insurance accounting process.
• Confident in liaising with stakeholders from different departments and geographical locations.

• Knowledge in IFRS 17 and insurance company's financial statements;
• Good understanding of life insurance accounting process.
• Confident in liaising with stakeholders from different departments and geographical locations.

Privacy Notice

Your privacy is a priority for FWD.  The Company keeps your personal information with us in confidence. To know more about how we process your information, kindly refer to our FWD Recruitment Privacy Notice.

FWD has partnered with Talocity Instasolutions Private Limited (“Talocity”) to manage the initial filtering of candidate’s profiles through video interviews, social profile mapping, and video analytics using artificial intelligence engine that is offered within the Talocity platform.  The platform evaluates the candidate on the five well-known dimensions as per OCEAN Personality Model that influence occupational success and help understand workplace behavior. For more information, please refer to Talocity Privacy Policy.

When you apply, FWD will share your name, phone number and email address to Talocity to contact you and conduct the initial screening and profiling process.  Shortlisted candidates will then be contacted by FWD for the face-to-face interview.