Insurance Accounting Lead IFRS 17

As the captive finance company of the Audi, Ducati and Volkswagen brands in Canada, Volkswagen Financial Services offers a wide range of leasing, retail financing and protection plans expertly tailored to meet the needs of our Customers. Additionally, we provide commercial financing products to Audi, Ducati, and Volkswagen Dealers.

Role Summary:

• Protection products are sold in both the US and Canada under various subsidiary structures that ultimately roll up to VW Credit, Inc. (VCI).  In the US, VWFS Protection Services, Inc. (direct subsidiary of VW Credit, Inc.) is responsible for the development, underwriting, and marketing of branded vehicle protection products. VWFS Protection Services, Inc. acts as the Obligor Company for those products it underwrites and will cede the risk to VWFS Insurance Service, Inc. (a wholly owned Captive Insurance Company) in the execution of its business.  In Canada, VW Credit Canada, Inc. (direct subsidiary of VCI) services a similar purpose and is the 100% owner of Beetle BC Holding, Inc. (Captive Insurance Company).
• Understand and support IFRS 17 process and system changes related to insurance products
• This is a data intensive role and requires high level of MS Excel skills. Develop in-depth understanding of insurance data and how it translates to the inputs sent to Finevare (IFRS17 Engine). Develop checks and controls on data accuracy and completeness (Premium, Claims, Commission validation).
• Support IFRS 17 Engine Input to Output validation. 
• Insurance industry experience and IFRS 17 (GMM model) expertise. This role will work closely with Actuarial team, should have some understanding of actuarial roles and be able to provide inputs and guidance on IFRS 17 process of actuarial team.
• The position supports enhancement of internal controls and key control documentation. Person is expected to look at our month-end process and JVs, and bring in efficiencies by reducing number of JVs booked each month. This role will try to automate the JV creation process, consolidate various JVs into one, bring in more checks and controls for each JV and document the JV in such a manner that is not person dependent.

Ensure timely and accurate reporting of financial information for in compliance with all required accounting standards and regulatory requirements.

Manage IFRS 17 process (50%)

• Understand the requirements of the IFRS 17 standard, assist developing the logic and test the new IFRS 17 system from time to time for any new business change (For example: how data tables should be set up when contracts are sold on subscription model).
• Data Management –Ensure data sources are correctly sourced and work with IT and t