Senior Financial Accountant

About the Company

MIPS is a not-for-profit Medical Defence Organisation (MDO) that provides indemnity insurance and other benefits to over a quarter of Australia's doctors as well as dentists and other healthcare practitioners. Our ambition is to be an industry leader recognised for protecting healthcare professionals whilst they are caring for others. We take pride in being a supportive and collaborative place to work and are always looking for passionate and talented people to join our team.

About the Opportunity

We are looking for an experienced Senior Financial Accountant to lead our Finance team and help shape a high-performing, people-first culture. This role is accountable for ensuring Financial and Statutory accounts and tax reporting obligations have been prepared and reviewed in a timely manager, and preparation of capital investment accounting and analysis to drive performance of MIPS. The role will be responsible for delivery of APRA reporting, and ongoing governance and review of financial systems, controls, policies, standards and reporting to meet statutory and regulatory compliance.

The Senior Financial Accountant will work across the organisation by meeting key accounting and financial obligations using data to drive better performance and prioritisation and deliver on MIPS Group strategic priorities.

Key Responsibilities

Financial & Statutory Reporting:

• Manage end to end financial close and ensure all financial accounting obligations including accounts payable, claims payments/recoveries, tax, statutory accounts and monthly and annual reporting are delivered on time. This includes ensuring all general ledger accounts are reconciled, variances explained and all statutory /regulatory obligations requirements are met.
• Analyse financial data to identify trends, risks and areas of improvement.
• Provision of reporting and analysis in relation to claims, reinsurance and non-reinsurance. This includes preparation of quarterly quota share invoices and related data for reinsurers, approval and timely resolution of queries from brokers and reinsurers.
• Approve and ensuring all legal obligations are met and returns are lodged by due dates (BAS/FBT).
• Create and update policies, standards, governance, processes, systems and SLAs (Service Level Agreements) to ensure statutory reporting, financial management, lodgement of tax and audit responsibilities are met, as required under financial services legislation and relevant regulatory requirements.

Treasury and Capital Investment Management:

• Preparation of capital investment accounting and analysis to drive performance of MIPS.
• Create and update policies, standards, governance, processes and systems to ensure the security of funds, assets and audit responsibilities are met, as required under financial services legislation and relevant regulatory requirements.
• Assist with the management and placement of the corporate insurance policies and management of property leases.

Expertise in Governance, Regulatory & Reporting Requirements:

• Ongoing governance and review of financial systems, controls, policies, standards and reporting to meet statutory and regulatory compliance. This includes engagement with internal and external auditors.
• Ensuring all processes and procedures are documented and kept up to date.
• Management of privacy data, data quality and timely reporting to Performance, actuaries, government (Health department) and internal and external audit.
• Prepare monthly, quarterly and annual reporting ensuring timely and accurate data. Provide reporting for internal management committees and executive leadership.
• Provide regular coaching to the team to build a learning culture. Ensure team are equipped with latest in financial and regulation requirements.
• System administrator of MYOB and Prospend.

Process Improvement & Systems Optimisation:

• Continuously improve financial reporting processes, systems, and tools to increase efficiency and accuracy.
• Seek and advise the organisation opportunities on cost efficiencies.
• Identify opportunities for automation or streamlining within the Finance function to support scalability and business growth.

Delivery of APRA Reporting:

• Preparation of APRA return. Ensure accurate data and timely submission in line with the regulatory requirements of APRA.
• Ensure all APRA queries are investigated, reported to Executive Leadership team and actioned in a timely manner.
• Understand and deliver regulatory changes, understanding impacts to MIPS and changes required to policies, standards, governance, processes, systems. Identify & implement changes to finance systems and processes to improve member experience, employee experience and reduce costs.

Workforce Planning and People Management:

• Workforce planning and operational management to ensure optimisation of teams, resulting in the right people in the right roles to meet member needs, in line with business requirements and MIPSi/MIPS Service Level Agreements. This includes the prioritisation and allocation of work across the team. Elements such as break times, leave management, training, and coaching conversations need to be factored into forecasting capacity requirements.
• Enhance team collaboration by providing regular and ongoing feedback and coaching to team members to build individual and team capability.
• Provide development plans, succession plans, career paths, training needs analysis and support of learning and development for all team members.
• Support and promote a culture of member focus through open collaboration and challenge.
• Model positive leadership and individual contributor behaviours including change, risk mitigation and MIPS behaviours.
• Recruitment and management of FTE and costs in line with employment requirements. This includes managing overtime to budget.

Risk and Commercial Acumen:

• Manage business outcomes by aligning the team to deliver on goals, KPIs and budgets. This includes operational service levels, member experience, quality, and risk and compliance measures.
• Champion and contribute to a continuous improvement program to identify areas for innovation, deliver value and simplify processes.
• Act in accordance with delegation of authority levels.
• Manage and/or leverage all external vendor relationships to maximise efficient use of resources and in the best commercial interest of MIPS.
• Lead operational processes and deliverables in line with MIPS risk management and compliance frameworks and relevant regulatory, fraud control, audit and compliance requirements including delivery of internal audit requirements.

About You

Essential Skills and Qualifications:

• Right to work in Australia.
• Qualification in (Accounting, Commerce, Business).
• CPA or similar qualification with at least 3+ years post qualified experience.
• Proven experience as a financial and statutory accountant and in leading a Finance team.
• People management experience.
• Ability to lead, motivate and provide quality feedback to employees, contractors and third-party consultants in a dynamic team environment.
• Experience working in a Member or customer-based organisation.
• Experience in Finance, with advanced knowledge of accounting theory, practice and internal control, such as financial and statutory accounting.
• Experience in systems accounting and excellent knowledge of MYOB Advanced or a comparable financial system.
• Exceptional member or customer service with proven track record in a Finance Department.
• Strong communication, presentation, influencing and negotiation skills to facilitate discussion and drive finance education outcomes at all levels in MIPS and for MIPS members.
• Demonstrated commitment to continuous improvement orientation, with attention to detail that informs finance team improvements.
• Strong analytical and problem-solving skills, including understanding financial data, accounting standards, statutory and regulation requirements.
• Strong skills in organising and planning.
• Advanced skills in Excel, Word and PowerPoint. Self-sufficient in use of digital tools, such as Microsoft suite of applications (Outlook email, calendar, Teams).
• Experience with presenting training and providing technical insights to team members as part of their ongoing learning and development.
• Role model being a continuous learner with the ability to remain abreast with the constantly changing accounting regulations.

Highly Desirable:

• Proven experience and successful contributions as a member of a Leadership Team in a Member or Customer-based organisation.
• Experience working in the general insurance industry.
• Experience working in an APRA regulated environment.
• Knowledge of IFRS accounting standards.

Why work with MIPS?

• Hybrid working – enjoy work-life balance and the flexibility of working both remotely and from our centrally located CBD offices.
• Reward and recognition – we value your contributions and dedication with a comprehensive reward and recognition program.
• Professional development – we are committed to your growth, offering ongoing opportunities for professional development.
• Supportive culture – work in an environment that encourages collaboration, celebrates diversity and promotes inclusion.
• Wellbeing initiatives – we care about your health and happiness, with wellbeing programs to support you inside and outside the workplace.
• Community engagement – opportunity to give back to the community through volunteer leave days.
• Exclusive discounts – access a range of retailer discounts and novated leasing options to enhance your lifestyle.
• Social events – and much more

Apply now and be part of an organisation that makes a positive impact while supporting you every step of the way.