Assistant Manager-Financial Reporting

Assistant Manager, Financial Reporting (FR) Business Unit: Maxicare Healthcare Corp. Department: Finance Level: Assistant Manager Reporting Line: Manager-Financial Accounting and Reporting Position Accountability Statement Accountable for leading and executing the technical accounting, impact assessment, system integration support, and end-to-end implementation for new accounting standards—specifically PFRS 17 (Insurance Contracts), PFRS 9 (Financial Instruments), and PFRS 18 (Presentation and Disclosure in Financial Statements)—to ensure full compliance and seamless operational rollout for the 2027 financial reporting period and beyond.

Job Description Key Responsibilities

• Technical Accounting & Impact Assessment
• Lead the technical evaluation and impact assessments for PFRS 17, PFRS 9, and PFRS 18 specific to Maxicare’s business model, healthcare/HMO products, and investment portfolios.
• Draft, review, and finalize technical position papers, accounting policies, and operational methodology guidelines for compliance with new accounting standards.
• Monitor developments and regulatory updates from the Philippine Financial Reporting Standards Council (PFRSC), Insurance Commission (IC), Securities and Exchange Commission (SEC), and Bureau of Internal Revenue (BIR) affecting 2027 implementations.
• Consultant Collaboration & Project Management
• Act as the primary Finance liaison with external technical accounting consultants, actuaries, and system implementation partners for all PFRS 17, 9, and 18 transition milestones.
• Drive project deliverables, track milestones, resolve technical issues, and ensure timely completion of pre-implementation testing and parallel runs prior to 2027.
• Chart of Accounts, Pro-Forma Accounting & Financial Disclosures
• Formulate and finalize the revised Chart of Accounts (COA), mapping logic, and pro-forma accounting entries required under PFRS 17, 9, and 18.
• Design and prepare template notes to financial statements, disclosure requirements, and pro-forma statutory financial reports in strict accordance with PFRS 17 and 18 presentation rules.
• Collaborate with internal and external auditors to validate technical accounting positions, disclosures, and transition balances.
• Systems, Process Automation & Enhancement
• Provide technical accounting rules and requirements to IT and Finance Systems teams for the enhancement and automation of financial reporting software and sub-ledgers.
• Participate in User Acceptance Testing (UAT), data validation, and reconciliation between actuarial/operational engines and financial reporting systems.
• Optimize accounting processes to ensure reporting accuracy and efficiency under the new standards.
• Capacity Building & Operational Support
• Develop and deliver training sessions to the broader Finance team and key business stakeholders regarding the operational and financial impact of PFRS 17, 9, and 18.
• Support business unit leaders by analyzing financial statement impacts, including margin profiles, revenue recognition timing, and presentation changes under PFRS 18.

Position Specific Skills

• Technical Expertise: Deep understanding of Philippine Financial Reporting Standards / International Financial Reporting Standards, specifically PFRS 17, PFRS 9, PFRS 15, and PFRS 18.
• Analytical & Problem Solving: Superior analytical skills to translate complex technical standards into practical accounting policies and operational workflows.
• Project & Stakeholder Management: Proven ability to manage cross-functional projects, coordinate external consultants/actuaries, and engage effectively with senior management and auditors.
• Systems & Data Proficiency: High proficiency in ERP systems, financial reporting automation tools, and advanced Microsoft Excel modeling.

Qualifications

• Education: Bachelor’s degree in Accountancy.
• Professional Certification: Certified Public Accountant (CPA) designation is strongly preferred.
• Experience: Minimum 5 years of relevant experience in financial accounting, technical accounting, or financial reporting.
• Industry Background: Strong background in Big 4 audit firms (audit or technical consulting) and/or experience in the Insurance, Health Maintenance Organization (HMO), or Financial Services sector strongly preferred.
• Standards Knowledge: Prior involvement in PFRS/IFRS 17 and PFRS 9 implementation projects or technical accounting research is a major advantage.