IFRS 17 Reporting and Consolidations Manager (GCB4) – 12 Months contract (Initial)
Location - London
Pay Rate - 600 per day
Start Date - ASAP
IFRS 17 is a flagship project which will fundamentally change the accounting and business processes applied by HSBC’s Insurance business and represents the most significant accounting change program currently being implemented across the HSBC Group. The project is jointly sponsored by Financial, Actuarial, Risk and COO business areas working collaboratively together to deliver against a complex and demanding transformation program.
The role-holder will have a unique opportunity to contribute to this key project of the bank and deepen their accounting knowledge in an interesting interdisciplinary environment. Career opportunities and progression are available and could include roles within Global Finance, both within the insurance business and the bank.
The role holder will:
· Act as a Finance Subject Matter Expert (SME) on Reporting and Consolidation for Insurance.
· Assess the consolidation impacts arising from IFRS 17 implementation and ensure the design changes made will enable accurate reporting and disclosures.
· The role holder will be the go to person to provide group guidance on consolidation and elimination processes for Insurance specific aspects such as dual CSM, Group Captives, inter-group re-insurance based on approved design framework. Support will also be required to resolve outstanding design questions or additional simplifications that might be required.
· You will be required to develop sufficient understanding of current and target process of the end-to-end business and finance operations, ledger close financial reporting and MI to enable efficient liaison with country teams to understand implementation issues and work collaboratively to devise appropriate solutions to support IFRS 17 reporting milestones.
· Support in execution of upcoming key program milestones including validating User Acceptance testing (UAT), Dress rehearsals and comparatives production.
· Supporting delivery of an optimal end-to-end financial reporting process which aligns to internal and best practice financial control framework.
· Drive requirements gathering with sites to support relevant MI and Financial control dashboards per the Visualisation package including UAT testing.
· Being flexible to support other insurance sites (where required) on the change activities for IFRS 17 implementation.
· Training of BAU and wider finance teams on IFRS 17 reporting changes and new processes.
· Qualified accountant e.g. ACA, CIMA, ACCA or equivalent.
· Solid experience of working in end to end finance processes such as financial close and reporting and complex consolidations (preferably in a financial service environment).
· Strong analytical capabilities and understanding of complex consolidation issues essential
· Strong technical understanding of IFRS’s including IFRS 17 or solid Life Insurance business knowledge.
· Experience of accounting projects such as regulatory or accounting standards change or adoption
· Prior involvement in defining and embedding new process and controls in a financial reporting environment.
· Ability to field, analyse and solve unstructured problems/queries and to challenge existing procedures
· Strong stakeholder and team management skills, whilst able to succeed in a complex matrix environment.
· Excellent verbal and written communication skills, including experience of preparation of reports, analysis, commentary and technical accounting opinions on financial reporting matters suitable for presentation at senior management.
Ability to take the initiative and undertake and drive tasks forward with minimum supervision.