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Senior Financial Accountant, Reporting, Korea

Pacific Life
Seoul, South Korea
Closing date
Aug 9, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Job Title
Senior Financial Accountant, Reporting, Korea

Job Description

The Role

Assist the Finance Manager in day-to-day financial management of the Branch. This includes being responsible for monthly and quarterly closing of Korea statutory accounts, external/statutory reporting, treasury management, accounts payable and receivable managements. A key part of this role is also to ensure that all finance key controls are adhered to. Some translation work will also be involved to translate reports from Korean to English where necessary.


1. Responsible for preparing the Korea Branch's Local ledger
  • Responsible for timely and accurate completion of closing works and deliverables for IFRS17
  • Conduct all necessary reconciliations between the USGAAP ledger and supporting data to ensure that the GL is fairly stated.
  • Ensure that IFRS17 and related reporting tasks to regulatory authorities are accurate and timely.
  • Responsible for responses to ad-hoc requests from both internal and external parties.
  • Liaise and coordinate with internal departments (e.g. Corporate Actuarial and Operations team) on closing matters
  • Provide support to the team in any other closing related Korea matters.

2. Assist the Finance Manager in ensuring solvency ratios comply with internal and external policies and regulations related to finance areas. Highlight new policies and regulations, and outline any implications for finance areas, if applicable.
  • Assist in managing the K-ICS ratio to ensure compliance with solvency guideline and internal requirements.
  • Conduct all necessary reconciliations between the USGAAP ledger and supporting data to ensure that the K-ICS GL is accurately stated.
  • Provide supporting documentation for K-ICS requested internally and externally

3. Responsible for overseeing compliance with FSS regulatory framework and tax regulations
  • All deliverables that are to be submitted to the regulator (e.g. FSS returns, KNIA report, K-IFRS accounts), government bodies (e.g. VAT Tax, Education tax and tax related).

4. Support and assist in Finance related projects including but not limited to the following:
  • PeopleSoft (Finance GL ledger)
  • Any other Finance system related projects, initiatives, etc

5. Ensure compliance with all laws, regulations, internal and group policies as are relevant to the role
  • Robustly review current finance processes, identify and implement initiatives for continuous improvement.

Qualifications & Experience
  • Possess a Degree in Accountancy or equivalent
  • At least 10 years' experience in financial operations and reporting of life insurance / reinsurance companies
  • Proven understanding of standard accounting (GAAP&IFRS) in the insurance area is preferred
  • Good understanding of FSS regulatory framework/Tax regulations
  • Very strong sense of internal controls and procedures
  • Proficient in English and able to communicate effectively with people from different countries and cultures
  • Work well in a team environment
  • Organised, deadline focused, meticulous with an eye for detail and able to work with minimum supervision
  • Ability to manage ad-hoc, non-standard and often unstructured requests, at short notice
  • Motivated to take ownership of work and to seek further responsibilities
  • Knowledge of Microsoft Office applications (Word, Excel, PowerPoint, Office) and account software e.g. Oracle PeopleSoft

Working For Pacific Life Re

Every person in our global team is valued for the unique qualities they bring to our business and we seek to build their expertise and support their individual ambitions at every step. Of course, we take our work seriously and we know our team can operate under great pressure. We work hard and thrive on achievement, but we also know how to have fun and relax too. We regularly host a range of team building days to strengthen our team's connection with each other and reflect on their successes.

Providing employees with a healthy work-life balance is very important to our culture. We have a wide range of employee benefits and we host regular social activities and well being initiatives. We are also committed to supporting our employee's involvement in their communities, by actively fundraising, hosting charity events and overseeing volunteering opportunities.


• Group Life Insurance and Medical

• Flexible Benefits

• Employee Assistance Program (EAP)

As part of our commitment to diversity and inclusion, we will provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities. Please contact us about your needs so that we can discuss these with you to make sure that suitable adjustments are made, where possible.

Pacific Life Re Principles and Behaviours

Please click here to view our company principles and behaviours

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