Chief Financial Officer

Overview

Chief Financial Officer Jobs in Johannesburg Metropolitan Area at Chubb

Title: Chief Financial Officer

Company: Chubb

Location: Johannesburg Metropolitan Area

This is a key leadership role responsible for the financial soundness of the company. Appointment is subject to Prudential Authority approval.

The Finance Executive owns the full spectrum of financial, regulatory, and operational finance functions — including IFRS 17, ORSA, payroll, and credit control — ensuring accurate reporting, strong internal controls, and effective risk management across all finance activities in support of local and group objectives.

Financial Reporting

Statutory & IFRS Reporting

• Prepare and review annual financial statements in accordance with IFRS, including IFRS 17.
• Ensure timely submission of financial results to the parent company for group reporting.

IFRS 17 – Insurance Contracts

• Oversee the ongoing application of IFRS 17, ensuring compliant recognition of insurance contract liabilities, revenue, and expenses.
• Maintain and update accounting policies, methodologies, assumptions, and measurement models (including PAA).
• Coordinate with actuarial teams on the calculation and disclosure of insurance contract liabilities, risk adjustment, and related disclosures.
• Review and sign off on IFRS 17 data inputs, calculations, and journal entries.
• Prepare IFRS 17 disclosures for inclusion in the financial statements.
• Liaise with auditors on IFRS 17 matters and address queries and findings.
• Provide IFRS 17 training and guidance to finance and relevant business teams.

US GAAP & SOX

• Maintain IFRS-to-US GAAP reconciliations and support group audit requirements, including documentation and evidence.
• Design, implement, and monitor SOX-compliant internal controls over financial reporting, including IFRS 17 processes and data.

Planning, Forecasting & Management Reporting

• Lead the annual plan and rolling forecast process for the South Africa business in line with group and regional timelines.
• Provide variance analysis and commentary for management and group/regional reporting.
• Prepare management accounts via QlikView/QlikSense dashboards, including analysis of the Net to Region P&L.

Regulatory Reporting

Prudential Authority (PA)

• Oversee preparation and submission of quarterly QRTs, annual statutory returns, and the annual QRR.
• Prepare reports on governance, risk management, and internal controls.
• Lead preparation of the annual ORSA report, including scenario analysis and forward-looking solvency projections, for Board approval.
• Respond to ad hoc regulatory requests and thematic reviews from the PA.

SARS

• Complete all SARS submissions on eFiling (excluding payroll-related taxes).
• Oversee annual company tax returns, including supporting schedules, tax computations, and provisional tax filings.
• Oversee the annual transfer pricing review performed by third-party consultants.
• Ensure accurate and timely filing of monthly VAT201 returns.
• Oversee EMP201 and EMP501 submissions for payroll taxes, UIF, and SDL.
• Ensure compliance with withholding tax obligations, including dividend payments to the Group.

Other Regulatory & Statutory Filings

• Manage the B-BBEE verification process, including evidence gathering and coordination with the verification agent.
• Oversee annual CIPC filings and financial statement submissions.
• Submit data and reports to industry bodies (e.g. SAIA) as required.
• Complete INSETA Workplace Skills Plan templates and oversee submission by the third-party consultant.
• Prepare data for the annual COIDA Return of Earnings submission.

Board & Committee Reporting

• Prepare and submit financial, solvency, risk, and compliance reports to the Board and Audit & Risk Committee.
• Ensure timely notification to the Board and regulators of any material breaches or non-compliance events.

Own Risk and Solvency Assessment (ORSA)

• Lead and coordinate the ORSA process in accordance with Prudential Standard GOI 3 and relevant South African regulatory requirements, ensuring it is embedded in the company’s risk management and decision-making frameworks.
• Coordinate independent actuarial review of the ORSA by the Head of Actuarial Function.
• Assess current and future solvency positions under a range of scenarios and stress tests, incorporating IFRS 17 impacts.
• Prepare financial data projections for use by the Chubb Capital Actuarial team in scenario and stress testing.
• Identify, assess, and document material risks — including insurance, market, credit, operational, and liquidity risks — and their solvency impact.
• Prepare the annual ORSA report for submission to the Board and Prudential Authority, ensuring it meets regulatory expectations and group requirements.
• Present ORSA findings and recommendations to the Board and advise on actions to address identified risks or capital needs.
• Review and update ORSA methodologies and assumptions regularly to reflect changes in the business, regulatory environment, and accounting standards.

Governance & Risk Management

• Establish and maintain a robust internal control environment and risk management framework; support enterprise risk management and compliance with group risk policies.
• Liaise with the Head of Actuarial Function on quantitative return reviews, risk policy reviews, product and reinsurance reviews, and ORSA.
• Coordinate with internal and external auditors (local and group); prepare audit workpapers (including payroll and IFRS 17 support), support the finance team in meeting audit deadlines, and implement corrective actions arising from findings.
• Prepare financial and regulatory reports for Board and Audit & Risk Committee meetings.

Operational Finance

Treasury & Cash Flow

• Manage cash flow, banking relationships, and investment portfolios, ensuring liquidity and capital management in line with group and local requirements.

Expense Management

• Oversee procurement, expense controls, and cost optimisation initiatives.

Payroll

• Own the end-to-end payroll process, ensuring accurate calculation of salaries, benefits, deductions, and statutory contributions.
• Prepare monthly variation analysis and supporting schedules prior to submission to the payroll provider.
• Ensure payroll compliance with SARS and Department of Labour requirements; maintain confidentiality and integrity of payroll data.
• Coordinate with HR on employee changes, new hires, and terminations, updating monthly payroll input data accordingly.
• Ensure payroll controls are SOX-compliant, including segregation of duties, authorisation, and audit trails.

Credit Control

• Oversee the credit control function, ensuring timely collection of premiums and other receivables.
• Establish and monitor credit policies, limits, and procedures to minimise bad debts and credit risk exposure.
• Monitor aged debtors, follow up on overdue accounts, and escalate where necessary.
• Ensure accurate reconciliation of debtor accounts and premium receivables.
• Report on credit control performance, outstanding balances, and provisioning for doubtful debts to management and the Board.
• Ensure IFRS 9 compliance for impairment of receivables and coordinate with auditors on credit risk and provisioning.

Group Reporting & Liaison

• Coordinate with group finance teams on reporting and audit requirements; respond to queries and complete supporting schedules within agreed timelines.
• Implement group finance policies, procedures, and reporting standards locally.

Credit Rating Agency Management

• Serve as the primary point of contact for credit rating agencies; coordinate annual review processes and ensure timely, accurate submission of financial, regulatory, and operational information.
• Oversee responses to rating agency questionnaires and due diligence requests; facilitate analyst meetings and site visits with management and executive leadership as required.
• Ensure all data provided is consistent with audited financial statements, regulatory filings, and group reporting; review and validate all disclosures prior to submission.
• Monitor rating agency communications, reports, and criteria updates; assess their impact on the company’s rating and capital strategy and communicate outcomes and required actions to the Board, Group, and relevant stakeholders.

Qualifications & Experience

• Qualified accountant or finance professional with senior leadership experience in insurance.
• Strong experience in financial control, statutory and regulatory reporting within an insurance environment.
• Proven knowledge of IFRS (including IFRS 17) and exposure to US GAAP and SOX controls.
• Experience preparing ORSA reports, solvency analysis, and Board-level reporting.
• Strong understanding of South African regulatory and tax requirements, including PA and SARS submissions.
• Experience managing payroll, credit control, treasury, and broader operational finance functions.
• Effective stakeholder management skills; able to work across auditors, actuaries, regulators, and group finance teams.
• Excellent analytical, communication, and leadership skills.
• Insurance industry experience is essential.

About Us

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.