The Head, Financial Accounting is a key leadership role responsible for ensuring the integrity, accuracy, and completeness of the financial reporting process for Manulife Philippines and its subsidiaries.  This role oversees the preparation of timely and accurate financial statements in compliance with accounting standards, regulatory requirements (including the transition of PFRS 4 to IFRS 17), and internal controls / regional and group reporting.

The position is also accountable for balance sheet account reconciliations, leading the annual external audit process, and ensuring a strong control environment over financial reporting.

                  

Responsibilities:

Financial Reporting and Accuracy

• Ensure timely and accurate preparation of monthly, quarterly, and annual financial statements in accordance with applicable accounting standards (e.g. PFRS, IFRS, local GAAP).  This also includes coordination with MIMTC and Investments team for proper Investment Accounting and analysis.
• Maintain the integrity of financial data and reporting processes, ensuring completeness and consistency across all financial records.

Account Reconciliation

• Lead the design, implementation and monitoring of accounts reconciliation
• Oversee and enforce timely reconciliation of all balance sheet accounts, ensuring accuracy, aging analysis, and proper resolution of variances
• Establish standards and accountability for reconciliation processes across the finance function
• Drives and collaborate with different functions (e.g. HR, IT, Actuarial, Group) outside of finance for the resolution of reconciling items, including the systems and process fixing and/or improvement.

Regulatory and Local Management Reporting

• Ensure the timely submission of accurate regulatory reports (e.g EQRSFS, Investments made and sold, Annual Statement) to the Insurance Commission and other stakeholders (such as MCBL local reports to the partner Bank, Board of Directors, Excom)
• Ensure successful transition of financial reporting from PFRS 4 to PFRS 17, ensuring compliance and readiness across systems, processes and reporting outputs.  Actively collaborates as well with Actuarial for the majority of the PFRS 17 information requirements.
• Support internal and local management reporting requirements by providing high-quality financial data and insights
• Coordinate with Risk, Compliance, Internal Audit and External Audit to ensure alignment and address issues
• Responsible for other regulatory requirements e.g. SEC, BSP, BIR and IC.

Year-End Audit and Tax Audit

• Lead and manage the year-end statutory audit process, acting as the key liaison with external auditors.
• Timely reporting of key audit matters within the company and coordinates with process owners for proper resolution of audit issues
• Ensure completeness and timely availability of audit deliverables and resolution of audit queries
• Support and collaborate Tax unit for the BIR tax audit e.g. FS to ITR reconciliation, withholding taxes, Premium taxes etc.
• Support Tax Accounting and Compliance

Team Leadership and Development

• Lead, mentor, and develop the Financial Accounting team to ensure strong capabilities and high-performance culture.
• Foster collaboration across Finance and other functions to support efficient operations and continuous improvement.

Strategic tasks that may be assigned from time to time

• Special projects concerning Regional / Global e.g. Workiva
• Participates and provides valuable inputs on system and/or product launches concerning regulatory requirements

                                                                                                                                  

Individual Accountabilities:

• Strategy development and execution where the role leads to the creation and implementation of Accounts reconciliation standards ensuring completeness and accuracy of financial statement as well as other projects
• Demonstrates the ability to effectively influence stakeholders and collaboratively address business challenges through team-driven solutions
• Project ownership and taking full responsibility for successful execution of strategic improvements and regulatory changes.
• To some extent, market analysis and conduct research for strategic decisions e.g. Annual Statement of peer life insurance companies.
• Focus on Innovation and Improvement i.e driving innovative solutions or process improvements led by this role, aligning with the level’s emphasis on recommending best practices and improving service.  For example:  Innovation and change management to drive successful implementation of PFRS 17 transition
• Lead and actively involve in the regulatory changes concerning accounting standards and Taxation

Key Shared Accountabilities:

• Review the accuracy of financial statements, provide analysis and regulatory reports.
• Cross-functional collaboration and engage other functions for proper implementation of account reconciliation and other key projects where the role needs to successfully integrate and at times initiate projects that have a positive impact in the organization
• Communication and stakeholder engagement, to ensure timely escalation of key audit or regulatory matters
• Lead the external audit of Manulife Philippines and its subsidiaries.

                                       

Knowledge/Skills/Competencies/Education:

• Bachelor’s degree in accountancy, CPA required.
• At least 8-10 years progressive experience in financial accounting, with at least 3-5+ years in a leadership role, preferably in the life insurance or financial services sector
• Strong knowledge of financial reporting frameworks (PFRS/IFRS) and local regulatory requirements
• Demonstrated experience in managing audits, financial controls and balance sheet governance
• High attention to detail, integrity and a commitment to accuracy
• Proven ability to lead cross-functional initiatives and influence senior stakeholders
• Excellent management skills
• High sense of business ethics and professionalism  
• Strong analytical, project management and communication skills.

When you join our team:

• We’ll empower you to learn and grow the career you want.

• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.

• As part of our global team, we’ll support you in shaping the future you want to see.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [email protected].

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