Job Purpose The role will lead and manage the financial accounting and performance reporting functions of the both life and general insurance lines of business.
He will be responsible in ensuring the accuracy and timeliness of the monthly closing process to come up with sound financial statements compliant to various reportorial requirements, and to ensure the completeness and timely submission of various reports in compliance with external regulators including but not limited to IC, SEC, BIR and Local Government Units (LGU).
The role will also manage the timely delivery of financial information related but not limited to local and regional reportorial requirements in order to keep track of company performance and to serve as a guide in management decision making. Lastly, he is also tasked to lead the planning, execution and communication of expense initiatives to build strong partnerships with stakeholders across the company.
The role will manage the Annual Company-wide Financial Planning Exercise including updating of the Submitted Plans on a regular basis as required by Group
He will lead Expense Management and Efficiency Initiatives to ensure ME and DAP spends are within acceptable levels
The role will cover review of Strategic Projects and tracking of Committed Benefits vis-à-vis Actual results
The role will lead key Finance projects involving system enhancements, adoption of new Accounting Standards and Policies, Business Partnering with other Divisions for Strategic projects i.e., development of New Channels, new Technologies or Improving/ Monitoring of Controls over key processes with financial impact.
Critical Accountabilities Key Result Areas Major Activities Output Challenges and Risks Accurate and timely monthly Financial Statement
Ensure proper recording of all financial transactions including proper accruals
Coordinate with other FCA managers to understand investment, disbursement and insurance accounting
Ensure accurate and timely financial close process i.e. adhere to standard work day requirements
Coordinate and collaborate with other accounting functions and project teams for various adjustments based on their review of accounts reconciliation.
Sound financial statement (BS and PL) in various forms of requirements i.e. statutory, PFRS and IFRS
Accurate and timely submission of financial reports
Audited Financial Statement
Understanding Life systems and accounting systems.
System related issues
Coordination, time and commitment with other departments/divisions or units
External compliance and Statutory reporting (IC, SEC, BIR and LGU)
Ensures compliance of Regulatory reports e.g Annual Statement, Year-end FS, IC Quarterly Stats
Ensure the accuracy, completeness and timely submission of tax compliance and reporting.
Ensure timely renewal of business permits and payment of taxes and licenses to LGU.
Manages the conduct of audit performed by External auditor in relation to Financial Audit, Insurance Commission as to Annual Statement and BIR for Tax Audit.
Act as a key contact person for the external audit and regulatory audit (IC, SEC and BIR and LGU)
IC approval on renewal of Company license
Timely financial audit
Accurate, complete and timely submission of various reports and compliance with IC, SEC and BIR and LGU.
No penalty
Coordination, time and commitment with other departments/divisions or units
Proving the legitimacy of assets with IC
Incurring penalty due to delayed in submission or wasn't able to support the result of the audit performed by various regulator
Accounting and Tax research and advisory
Provide Accounting and Tax Bulletin for updates relevant to Company
Conduct research to answer accounting and tax queries and concerns of internal units, department and Regional Office
Coordinate with external Tax advisors
Timely bulletin for tax and accounting updates
Timely response on inquiries
Keeping updated on accounting and tax matters
Understanding Life Insurance Industry regulations, standards and practices
Establish proper internal controls and process efficiency
Regularly reviews procedures to improve efficiency and utilization of accounting system
Develops policies and procedures over financial accounting
Coordinates and resolves audit issues (Financial and Internal controls) raised by external and internal audit (local and RO)
Partners with Finance Standards and Controls team for proper Internal controls
Increase process efficiency
Proper documentation of policies and procedures
Resolve audit issues on a timely manner
Coordination, time and commitment with other departments/divisions or units
System related issues
Quarterly/half-year/full year local and regional performance reporting
Group Management Dashboard reporting including Magnitude input (serves as the point person; prepares, analyzes, and consolidates pack ensuring accuracy of information and coherence of commentaries and business insights)
Completion of Magnitude input (all KPIs other than Earnings and Balance Sheet) and checklist
Preparation and analysis of consolidation questionnaire sign off, analytical review (for B/S and P&L), and large client management (LCM) templates
Coordination with various units for needed information and analyses.
Handling of inquiries.
Group Management Dashboard (pack)
Magnitude input (all KPIs except Earnings and Balance Sheet)
Consolidation questionnaire sign off, analytical review, and large client management (LCM) templates
Providing coherent and meaningful business insights and commentaries.
Understanding and analyzing the results from different sources of information.
Getting information from different sources/dependencies accurately and timely.
Consistency of reports across all business units.
Inquiries from RO and local management.
Strategic Planning
Assist in the preparation of reports (particularly APE) for the Strategic Planning exercise
Providing commentaries and business insights as needed.
Coordination with Investments, FC&A, the channels, and other business units and provision of data to Actuarial.
Handling of inquiries.
Strategic Plan pack
Providing coherent and meaningful business insights and commentaries.
Understanding and analyzing the results from different sources of information.
Getting information from different sources/dependencies accurately and timely.
Consistency of reports across all business units.
Inquiries from RO and local management.
Key Decisions/Dimensions Decisions Quantifiable Data Related to Job Financial and management reporting close
Business insights
Inquiry resolution
Your Profile Skills and Knowledge Educational Qualifications Relevant Experience CPA preferred. Can also be investor analyst, researcher, CFA taker, actuarial.
At least 5 years of work experience in financial/management reporting, preferably with audit background
Must have work experience in the insurance industry
Must have experience in writing commentaries and business insights to financial results
Proficient in Excel, and any accounting software
Personal Characteristics/Behaviors Other Requirements Analytical and keen to details
Good oral and written communication skills
Good interpersonal skills
Willing to work on extended hours if needed
Proactive and can work under minimal supervision
About AXA A global leader in insurance and investments, AXA takes care of 103 million lives in 64 countries worldwide. We actively invest in pioneering and personalized solutions to meet your ever-changing needs and exceed your expectations. In the Philippines, we are in partnership with Metrobank, one of the country's strongest banks.
About the Entity Established in 1999, AXA Philippines is one of the largest and fastest growing life insurance companies in the country. It offers financial security to more than one million individuals through its group and individual life insurance as well as general insurance products through its subsidiary Charter Ping An.
AXA Philippines is one of the first to introduce bancassurance operations in the country, and is among the pioneers in the investment-linked insurance sector.
AXA now offers a complete range of products for all its customers' insurance and financial protection needs, including savings and investments, health plans, income protection, and health coverage; and through its general insurance subsidiary Charter Ping An Insurance Corporation: fire, motor car, marine cargo, personal accident, bonds, casualty, and engineering insurance products.
AXA Philippines closed 2017 with P26.4 billion in total premium income and P5.7 billion in gross written premiums from Charter Ping An. Today, AXA has more than 4,000 financial advisers in 36 branches, and 700 financial executives in over 900 Metrobank and PSBank branches nationwide. Charter Ping An, on the other hand, has 22 branches nationwide and 2,007 agents.
AXA Philippines is a joint venture between the AXA Group, headquartered in France, and the Metrobank Group, one of the largest financial conglomerates in the Philippines.
The Metrobank Group is a conglomerate of industry-leading businesses that includes First Metro Investment Corporation, Metrobank Credit Cards, Federal Land, Toyota, and Manila Doctors Hospital. It was hailed Best Bank in the Philippines in 2010, 2011, and 2012 by Euromoney and recognized as the strongest bank in the Philippines by The Asian Banker in 2013. It is owned by the Ty Family whose major business interests include financial services, real estate development, power, and manufacturing.
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