• 2.7.2 Accounts and finance


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    Description of role

        Responsible for preparing documents / reports containing account data summary of the accounting period with background notes, forms and other information.

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    Core skills

        
    • Knowledge of basics fundamentals of insurance / Takaful accounting
    • Knowledge of concepts such as IBNR in insurance revenue recognition and accounting for claims
    • Knowledge of accounting for technical reserves and liabilities
    • Knowledge of reinsurance, ceding commission, brokerage fees etc.
    • Knowledge of preparation of financial statements including Profit and Loss Account, statement of financial position, statement of cash flows, statement of changes in equity and related notes
    • Knowledge of various accounting concepts, assumptions and related accounting standards used in the preparation and presentation of Financial statements
    • Ability to perform detailed financial analysis.
    • Ability to interpret financial statements, results, trends and ratios.
    • Understand management systems and controls
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    Qualification and/ or certification

    • QFSQF Level 3
    • Relevant experience

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    Industry knowledge

    • Knowledge of Takaful industry
    • Understand local market trends

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    Regulatory compliance of role

    • Knowledge of Takaful regulatory framework