Executive search firm Monroe Consulting Group Philippines is recruiting on behalf of a growing insurance company that offers a wide range of products including life and non-life insurance. Our respected client is seeking a Financial Planning & Reporting Head well-versed in financial planning, budgeting, and reporting. This role is on an onsite work requirement in Muntinlupa.
Job Summary:
We are seeking a highly analytical and detail-oriented Financial Planning & Reporting Head to join our finance team within the insurance industry. Lead the financial planning, budgeting, and reporting functions for a non-life insurance company, ensuring accurate financial analysis, regulatory compliance, and strategic decision support for senior management and stakeholders.
Key job responsibilities include:
Financial Planning & Budgeting
- Develop and oversee annual budgets, financial forecasts, and strategic plans across all business lines
- Lead the quarterly and annual planning processes, coordinating with underwriting, claims, and investment teams
- Prepare variance analysis and provide insights on budget performance against actuals
- Support business development initiatives with financial modelling and profitability analysis
Financial Reporting & Analysis
- Oversee preparation of monthly, quarterly, and annual financial statements in accordance with applicable accounting standards (IFRS/local GAAP)
- Ensure timely and accurate regulatory reporting to insurance authorities and other regulatory bodies
- Prepare management reporting packages including key performance indicators, profitability analysis by product line, and trend analysis
- Develop and maintain financial dashboards for executive leadership and board reporting
Risk Management & Compliance
- Collaborate with actuarial teams on reserve adequacy analysis and loss ratio monitoring
- Ensure compliance with solvency requirements and capital adequacy regulations
- Support internal and external audit processes, addressing findings and implementing recommendations
- Monitor and report on key financial risks including underwriting, investment, and operational risks
Team Leadership & Development
- Lead and develop a team of financial analysts and reporting specialists
- Establish and maintain financial policies, procedures, and internal controls
- Provide training and guidance to team members on insurance accounting principles and regulatory requirements
- Foster cross-functional collaboration with underwriting, claims, actuarial, and investment departments
Key job requirements include:
Education & Certifications
- Bachelor's degree in Finance, Accounting, Economics, or related field
- Professional qualification (CPA, CFA, ACCA, or equivalent) preferred
Experience
- 8-12 years of progressive financial management experience, with at least 5 years in insurance industry
- Proven experience in financial planning, budgeting, and reporting within non-life insurance
- Strong background in insurance accounting principles and regulatory frameworks
- Experience with statutory reporting requirements and solvency regulations
Technical Skills
- Advanced proficiency in financial modeling and analysis tools
- Knowledge of insurance core systems and accounting software
- Understanding of actuarial concepts and insurance mathematics
Familiarity with regulatory reporting standards (IFRS 17, local regulations)
