Financial Accounting Expert (m/f) - Focus on IFRS 17

Allianz

25d ago

Job
Full-time
Senior Level
Accounting & Tax

AI generated summary

You need a degree in finance/business, 5 years in P&C insurance, IFRS expertise, reinsurance knowledge, strong analytical skills, project management experience, and fluent English.
You will assess accounting treatments for ART transactions, ensure compliance with IFRS standards, coordinate valuations, support audits, and drive process improvements across finance functions.

Requirements

Master's or Bachelor's degree preferably in Business Administration, Economics, Finance, Accounting, Mathematics or qualified by experience in related discipline.
5 years of experience in the financial services industry, ideally P&C insurance or reinsurance.
Proven understanding of standard accounting (GAAP & IFRS) for insurance and reinsurance.
Profound knowledge of Reinsurance business/accounting, ideally in the Alternative Risk Transfer area.
Comprehensive knowledge of local GAAP, IFRS 9/17, and relevant regulatory standards like Solvency II.
Finance and Insurance know-how (ideally P&C) as well as understanding of complexities inherent in an insurance group (consolidation processes, legal vs. management view) allowing for cross-departmental thinking and acting.
Advanced understanding insurance financial statements and products, their performance measurement and drivers.
Several years of experience in project and team work in an international and dynamic environment.
Advanced Office skills like Excel, Access & Powerpoint and proficiency in using systems in own area (like SAP, Business Warehouse).
Excellent analytical thinking and problem solving skills.
Excellent communication and presentation skills, with experience in communication of results to a variety of stakeholders including senior management.
Advanced project management skills.
Fluent English skills are required. German skills are a plus.

Responsibilities

Be the global expert for the accounting of transactions in the Alternative Risk Transfer Line of Business, which includes Insurance/Reinsurance accounted multi-line/multi-year transactions and transactions accounted in investment form like insurance-related derivatives, Cat bonds, etc.
In this role, your key responsibilities will be the assessment and alignment of the accounting treatment and requirements of new transactions at Underwriting stage and to ensure that the agreed accounting approach is properly implemented in practice.
You will continuously oversee the correct reflection of ART transactions from an accounting policy perspective in financial closings across all Allianz Commercial's balance sheets, and run issue resolution processes with Group Accounting in close alignment with the Head of Accounting Policy at Allianz Commercial to clarify and align on IFRS 9/17 accounting treatments.
Being an expert in ART products and the accounting and valuation thereof, you will to support all Finance processes at ART and Allianz Commercial in which ART LoB / ART expertise is required.
F&A sign-off of new transactions at Underwriting Stage: Assess complexity of new transactions from an Accounting prespective, and analyse which compliant accounting treatment needs to be followed and if investments in resources or systems are needed. Liaise closly with Underwriting and Deal Services to perform this assessment.
Monitoring of proper implementation of accounting treatment of new ART transactions, review Accounting treatment of legacy transactions: Once transaction is bound, ensure that agreed accounting treatment is properly implemented and followed in practice to ensure compliance with local and IFRS accounting standards. In case of shortcomings, support the accountants with the incident handling and error corrections.
Align IFRS 9/17 accounting treatment of new products with Head of Accounting Policy at Allianz Commercial and Group Accounting Policy Department. Define the F&A sign-off process coherently from a governance and risk perspective, and review the effectiveness of the F&A sign-off process on a regular basis.
Coordinate the valuation process of investment-accounted transactions: For transactions accounted under IFRS 9, a Fair Market Value may need to be determined for Balance Sheet valuation purposes. Organise and coordinate the valuation process of these transactions with the valuation providers involved (Underwriting, Risk Management, Actuarial, etc).
Drive best practice sharing, efficiency increases, global standard setting and harmonization: Align with other colleagues in CFO, cross functional collaboration across the business to enhance overall business understanding, find opportunites to improve and streamline processes.
Support audits, closings and projects: In order to best leverage from the expertise in ART, participate in projects, support internal and external audits and implement projects at Allianz Risk Transfer and Allianz Commercial as required. Support movement analysis for closing purposes and forecasting for planning purposes.

FAQs

What is the primary focus of the Financial Accounting Expert role?

The primary focus is on IFRS 17, specifically concerning the accounting of transactions in the Alternative Risk Transfer Line of Business.

Where is the position located?

The position is preferably located in Wallisellen near Zurich or in Schaan (Liechtenstein).

What qualifications are required for this role?

A Master's or Bachelor's degree in Business Administration, Economics, Finance, Accounting, Mathematics, or relevant experience in the related discipline is required.

How many years of experience are needed for this position?

A minimum of 5 years of experience in the financial services industry, ideally in P&C insurance or reinsurance, is required.

What specific accounting standards should candidates be proficient in?

Candidates should have a proven understanding of standard accounting (GAAP & IFRS), particularly IFRS 9/17, as well as knowledge of local GAAP and regulations like Solvency II.

Will the Financial Accounting Expert participate in audits?

Yes, the role includes participating in audits, closings, and various projects as needed.

Is there an opportunity for career development in this role?

Yes, Allianz offers career development and digital learning programs, as well as opportunities for international career mobility.

What kind of work environment does Allianz promote?

Allianz promotes an inclusive environment with a hybrid working model that values both in-person collaboration and remote work.

Are language skills important for this role?

Yes, fluent English skills are required, and German skills are a plus.

What kind of support does Allianz provide for employees' well-being?

Allianz provides support for health and well-being, including private healthcare and generous parental leave benefits.

Allianz

Our purpose: We secure your future. Our promise is to give confidence in tomorrow.

Finance

Industry

10,001+

Employees

1890

Founded Year

Mission & Purpose

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million private and corporate customers in more than 70 countries. We are proud to be the Worldwide Insurance Partner of the Olympic & Paralympic Movements from 2021 until 2028 and to be recognized as one of the industry leaders in the Dow Jones Sustainability Index. Caring for our employees, their ambitions, dreams and challenges is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. Join us and together, let’s care for tomorrow.