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.

As the member of the International Financial Reporting Standard (IFRS) 17 Program Office, this job holder will involve a significant impact on the Data, Systems and Processes of Prudential Life Assurance (PLAI). It is important that these changes are designed, planned and implemented effectively such that the project's legacy is efficient and automated and the solutions are scalable, which would free up and support staff in adding business value and generating insights. This role will require an experienced accounting team with more than 3 years' insurance finance transformation and systems implementation experience to support the IFRS 17 Pilot Solution Implementation Lead in ensuring the outcomes of the IFRS 17 program are enabled through the design of the solution.

Principle Duties and Responsibilities:

  • Work closely with other work-stream teams to support them in syndicating, validating and implementing accounting processes.
  • Conduct interviews and workshops with stakeholders.
  • Work with stakeholders to ensure subject matter experts input and review sub-ledger work stream deliverables.
  • Work closely with the project team, including the Data, Systems, Accounting and Actuarial work streams where the delivery of work-stream requires multi-disciplinary collaboration
  • Build and manage relationships with key local contacts / stakeholders
  • Provide insight on industry practices to stakeholders to facilitate project deliverables
  • Manage vendors
  • Perform GL reconciliations between IFRS 4 and IFRS 17 based on the requirements defined
  • Support the accounting  Lead in working closely with regional work-stream teams to support them in syndicating, validating and implementing Sun GL processes in the individual LBUs

Key accountabilities for detailed design phase:

  • Producing functional specification for SUN GL for IFRS 17 reporting whilst maintaining reporting based on IFRS 4.
  • Detailed design of parallel run SUN GL including mapping of non-IFRS 17 data to Chart of Accounts
  • Detailed design and specification of GL reconciliations between IFRS 4 and IFRS 17.
  • Design accounting and posting framework and Chart of Accounts in sub-ledger which align and synchronize with General Ledger.
  • Develop business requirements for disclosure and reporting.
  • Redesign the posting rules of business events and mapping to sub-ledger.
  • Design mapping of Chart of Accounts in sub-ledger to PCA's Chart of Accounts in General Ledger
  • Develop business requirements on the Contractual Service Margin calculation engine, covering also Risk Adjustment and Time Value of Options and Guarantees.
  • Support data architecture and design 

For future phases of the programme:

  • This role will work with development and implementation teams on configuration of SUN GL, sub ledger and testing of reporting and related reconciliation controls and business readiness activities in implementation phases.

Job Requirements:

  • Bachelor graduate in Accounting, Finance or other related disciplines 
  • A strong leader with a proven track record on large scale projects within a highly complex hierarchy/functional organisation across multiple jurisdictions.
  • At least three years of experience in insurance finance technology and change projects, such as Insurance finance IT delivery, Insurance Finance Change management or life insurance consulting.
  • Excellent communication, interpersonal and organizational skills – experience working with senior executives is preferred.
  • A demonstrable interest in IFRS 17; Solvency II knowledge would be beneficial.
  • Comfortable working with uncertainty, highly adaptable.
  • General Ledger implementation experience preferably SUN GL experience.
  • Knowledge of Sun GL functionality.
  • Fluent in both spoken and written English (ability to speak one or more Asian languages desirable)
  • Willing to travel (although not extensively)

Accounting – IFRS 17 Team

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