Head of Financial Reporting, Accounting and Tax
AXAEstablished 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.
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.
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Educational Qualifications |
Relevant Experience |
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• Certified Public Accountant (CPA) |
• At least 10 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 |
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Personal Characteristics/Behaviors |
Other Requirements |
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• 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 |
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Job Purpose |
The role will lead and manage the financial accounting and reporting functions . 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. The role will lead key Finance projects involving system enhancements, adoption of new Accounting Standards and Policies, new Technologies or Improving/ Monitoring of Controls over key processes with financial impact. |
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Critical Accountabilities |
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Key Result Areas |
Major Activities |
Output |
Challenges and Risks |
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• 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 |
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• 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 |
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• 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 |
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• 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 |
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Key Decisions/Dimensions |
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Decisions |
Quantifiable Data Related to Job |
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• Financial and management reporting close • Business insights • Inquiry resolution |
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