Website Bryte Insurance Company Limited
Bryte Insurance Company Limited is the premier, proactive commercial risk specialist in Southern Africa. Applying our unparalleled sector insights, proven expertise and foresight, we partner with customers and brokers to protect their businesses and improve their risk profile across the continent. … read moreOur short-term insurance risk management solutions are developed from deep sector knowledge, a future-fit focus and our commitment to service excellence. The Bryte Insurance Company brand may be new, but it retains the benefit of the incumbent infrastructure, products and management team. We are proud of what has been accomplished by this team in recent years and look forward to building further on our strong foundation of an established, successful insurance heritage and an invested partnership model. Bryte Insurance Company Limited’s operations in South Africa and Botswana are recent additions to the Fairfax Financial Holdings portfolio. Fairfax is a company based in Toronto, Canada and through its subsidiaries, is engaged in property and casualty insurance, and reinsurance and investment management. Bryte Insurance Company Limited approaches customer risk with purpose, proactively working with brokers and clients to enable better risk decisions. 15 Marshall Street Ferreirasdorp Johannesburg 2001 South Africa
Key Tasks & Accountabilities
Functional Management
This role reports into the Head of Statutory Reporting and its responsibilities span across all legal entities within the Group.
Process the IFRS 17 accounting journals as received from the Actuarial team ensure that the transactions are recorded in the accounting system on a timely basis and complete the IFRS 4 to 17 reconciliations on a timely basis and in line with IFRS and the Group reporting requirements.
Prepare with investment accounting journal entries (equities and bond instruments) ensure that investment transactions are recorded in the accounting system on a timely basis and in line with IFRS and the Group reporting requirements.
Prepare or review and post other head office journal processing to ensure that the transactions are recorded in the accounting system on a timely basis and in line with IFRS and the Group reporting requirements.
Preparation of month-end finance packs (Consolidation and separate legal entities) in line with reporting timelines (IFRS 4 and 17 Packs)
Preparation of the quarterly reporting submission to the Fairfax Group (Shareholder) via the OneStream System latest the 12th calendar day post quarter-end
Support the actuarial team with quarterly and annual SAM Submissions to ensure timeous and accurate delivery of statutory and regulatory reporting to the Prudential Authority
Taxation – Calculation of income tax and deferred tax calculations and completion of direct tax submissions (provisional payments / annual tax returns / with-holding tax returns)
Responsible for assisting in the managing the external auditing process for annual financial statements and other relevant processes.
Preparation of the annual financial statements for all entities and support subsidiary company financial accounting processes.
Ensure internal control compliance through the maintenance of required internal controls relating to financial reporting
Stakeholder engagement – Drive effective stakeholder engagement with the finance senior management team, actuarial team and the rest of the extended finance team
Ensure effective teamwork throughout the finance reporting, actuarial and other finance teams, i.e. Working with teams of people in line with the Bryte guiding principles and culture, within a results-oriented environment. Act as an ambassador for the culture and desired behaviours.
Stakeholder Management
Head of Statutory Reporting (Line Manager)
Finance Manco (Heads: Management Reporting, Reinsurance, Actuarial and Projects)
Bryte CFO
Bryte Finance Team (Management Reporting, Reinsurance, Actuarial, General Ledger and Finance Operations)
External Auditors
Fairfax Group
Qualification & Experience
CA (SA)
2 to 3 years’ experience in relevant field
Exposure to insurance (life, general and reinsurance) highly preferred
Sound knowledge of IFRS, including Insurance Accounting standards (IFRS17)
Knowledge of SAM solvency legislation and reporting requirements
Apply via company website ( http://www.brytesa.com ) or
brytesa.mcidirecthire.com