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

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Job Level: Professional

Location: Wallisellen, CH, 8304 Zurich, CH, 8002 Schaan, LI, 9494

Area of Expertise: Finance & Accounting

Unit: Allianz Commercial

Employing Entity: Allianz Risk Transfer

Job Type: Full-Time

Remote Job: Hybrid working

Employment Type: Permanent

ID: 55220

Position Cluster: Non-Executive

Let’s care for tomorrow.
Your ambitions. Your dreams. Your tomorrow
Whether it’s aircraft, international business or offshore wind parks, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.

We are looking for a Financial Accounting Expert (m/f) to join Allianz Risk Transfer (ART) preferably in Wallisellen near Zurich, or in Schaan (Liechtenstein).

Your Team
The Accounting Allianz Risk Transfer (ART) team is responsible for the non-insurance related closing tasks under IFRS, HGB and Solvency II, the preparation of the annual report of ART as well as for several regulatory and management reporting.

The Impact You Will Have
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 whichART LoB / ART expertise is required.

Some of your specific responsibilities could include:

• 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.

What You’ll Bring to the Role

• 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.

55220 | Finance & Accounting | Professional | Allianz Commercial | Full-Time | Permanent

What’s in it for you?

Let’s care about everything that makes you, you
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing
We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns
From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let’s care for our society and our planet
With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?
Allianz Commercial is the Allianz Group brand serving the world’s largest consumer brands and major industry players through to family-owned enterprises forming the backbone of nations’ economies. We bring together the corporate multinational business of Allianz Global Corporate & Specialty and the commercial business of national Allianz Property & Casualty entities and provide both traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling.

As a key strategic player in the Allianz Group network, Allianz Commercial is present in over 200 countries and in 2022 generated more than €19 billion gross premium.

Learn more about careers at Allianz Commercial by clicking here.

Learn more about Allianz Commercial by clicking here.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our culture.

People with disabilities:
We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email [email protected]

Recruitment Agencies:
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.

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