Job Description

Job Purpose:

Assisting with production of all Lloyd’s, PRA and other external reporting requirements

Key Responsibilities:

• Completion of syndicate Quarterly Monitoring Returns (A) & (B) so that business complies with Lloyd’s of London requirements
• To assist in the preparation of the Insurance PRA Returns for (UK Branch).
• NAIC reporting to Group, specifically completion of Schedule F Part 1 and T to be consolidated into Group return.
• Assist in the preparation of Solvency II reporting requirements for the syndicate including QMC, TPD, GQD, QAD and AAD
• Ensure all UK GAAP ledger entries relating to the syndicate are complete so that external reporting requirements can be met
• Run and update syndicate reporting packs on a quarterly basis so that the quarterly returns can be completed
• Assist with the analysis of profit and loss and balance sheet variances for syndicates
• Complete quarterly syndicate UK GAAP and US GAAP reconciliations and all other reconciliations
• Prepare audit files and liaise with external auditors so that the year-end and half-year audit for the Syndicate is successfully completed
• Liaise with the investment management team in the US , and investment managers to ensure that investment data is complete and available for syndicate reporting purposes
• Provide the Legal Entity reporting team with syndicate data so that Syndicate Annual Reports and Accounts can be completed accurately and in a timely manner
• Preparation of Syndicate Information Statements (SIS) in respect of US tax requirements
• Assist with the completion and submission of other annual returns such as TRIA and NAIC IID returns to comply with Lloyd’s of London requirements.
• Assist with queries from Lloyd’s, management, actuaries etc
• Review and update syndicate accounting processes.
• Other duties include liaising with internal audit and actuaries, providing data to management, and ad-hoc duties such as involvement in projects including the Solvency II project.

Job Requirements

Skills and Experience Specification:

• Knowledge of the insurance industry specifically within a finance department
• Strong experience of Lloyds accounting (3-5 years)
• Accounting qualification or part qualification
• Strong organisational and analytical skills
• Confident in MS Word and Excel

• Good communications skills
• Professional approach and delivery of work product
• Ability to multi-task and meet critical deadlines
• Knowledge of PeopleSoft desirable but not essential
• Professional, positive attitude, reliable, team player, adaptable, committed, self-motivated

The primary responsibility of this role is to ensure that all technical accounting is produced in a timely, accurate and complete manner, together with the ability to quality control technical data through analytical review.  The role will involve liaising with the Offshore teams to ensure they are provided with sufficient information, support and training to enable them to complete their objectives.

The job holder will play a key role in appraising the Offshore finance team and technical accounting processes as well as defining deliverables required from other teams (including the actuaries).  The role will also be required to respond to and identify questions raised by the Financial Reporting and analysis team.

The role will additionally cover assisting other team members in completion of Lloyd’s returns – both UKGAAP and SII.

Successful London Market Insurance Company requires a Qualified Accountant to Support all aspects of the finance function.

 Coordination of reporting of subsidiary offices, including maintenance of month and quarter end close and ensuring deadlines are adhered to.

Coordination of flow of financial information, reporting and other ad hoc requirements.

Management of day to day interaction with other businesses in the Group.

Drive the development of enhanced, real time management reporting initiatives, including a program of constant improvement of processes/ systems

In conjunction with Chief Accounting Officer, oversee group accounting function, ensuring financial procedures are efficient and effective, including reporting and controls systems.

Review of analytical reviews for Group companies.

Detailed review of Group financial supplement and GAAP financial statements.

Oversee the Financial Controllers in their responsibilities with regards to monthly financial close process and general management of finance close team.

Qualified CA, CPA or ACA.

Detailed knowledge and experience of IFRS and US GAAP for insurance accounting. Understanding of Lloyd’s environment

Great Plains knowledge preferred.

Our client, a Lloyd’s Syndicate, are looking to recruit a Corporate Accountant to join their City based team.

Reporting into the Financial Director this role will include:

•  Setting up of financial processes,
• Day to day accounting,
• Periodic management and statutory reporting and MI. 
• Maintenance of corporate treasury and purchase ledger process in co-ordination with current managing agency, who will continue to be the outsourced syndicate finance team.

This role will suit an individual with previous Tax and VAT experience, someone with partnership accounting experience and who has an understating of the insurance industry.  Preference for an ACCA / ACA / CIMA qualified accountant.

Our client a leading multinational insurance and reinsurance company, domiciled in the US, are looking to recruit an ACCA / ACA / CIMA qualified Financial Controller  to manage the production of all financial and management information relating to US GAAP and any other financial reporting.

The role will have a number of direct reports covering Management accounting (expense budgeting, allocation  and reporting), Regulatory and indirect tax reporting, Investment reporting, Accounts Payable, Cash Management, Reinsurance accounting and reporting, Management Information Systems (MIS).

Responsibilities

• Analysis and commentary of quarterly US GAAP balance sheet and underwriting expenses.
• Treasury operations, specifically the management of working capital; managing banking relationships, cash flow monitoring and forecasting, monitoring the availability of lines of credit, managing foreign exchange transactions.
• Financial control and financial risk management, the budget process, and monitoring of performance against budgets.
• Management of operational relationships with external advisers; auditors, bankers and regulators, as well as US counterparts.
• Monitoring investment activity ensuring it is in accordance with agreed strategy and guidelines. Responsible for the preparation of the investment overview for presentation to the Investment Committee.
• Reviewing and submitting regulatory and statutory filings for various group companies including the Risk Register
• Producing timely and accurate reporting to reinsurers and the reinsurance credit control function.
• Managing the workload and projects which forms part of the Finance MIS team.

Previous management experience is a must for this role, along with US GAAP knowledge and previous London Market insurance experience. Knowledge of SAP would be an advantage.

Successful London Market insurer with Lloyd’s syndicate and US parent looking to recruit an ACCA / ACA / CIMA qualified Head of FP&A to lead their FP&A team.

Working closely with senior executives and providing business partnering to business unit CEOs on a regular basis, you will be responsible for the development and communication of detailed MI to the Executive Management team.

Duties

• Accurately forecasting quarterly results
• Managing the FP&A team, delivering accurate weekly and monthly reports
• Producing management packs for legal entities and profit centres
• Liaising with underwriters and company management to embed the FP&A function within the business.
• Explanation of company and profit centre results to underwriters
• Producing Syndicate business plans and entity level group plans (SBF)
• Generate expense analysis vs plan & prior
• Supporting finance management in the analysis and understanding of Capital Modelling vs GAAP accounting
• Assisting in the implementation of new group planning tools
• Provide ad-hoc reports and analysis on request
• Continually improving the FP&A function
• Work closely with all company disciplines; finance team, actuarial, operations, claims, HR, business units.

The successful candidate will have extensive FP&A experience gained within the insurance industry (ideally London market / Lloyd’s syndicates / Managing Agency) and possess a thorough understanding of insurance accounting.

Lloyd’s Syndicate looking for an FP&A Accountant to join their London City based office.

The post holder will be the key contact for SBF (Syndicate Business Forecast) and PMD (Performance Management Data), to include entry of SBF and PMD onto Lloyd’s Software, completing SBF narrative, updating SBF timetables, producing SBF P&L, controlling underwriting templates, completing monthly Lloyds PMD returns, class benchmarking liaison with actuaries, data output checks and reconciliations, investigating errors.

Another key area of responsibility for the successful candidate will be Management Information;  monthly class monitoring, premium, exec reports,  monthly staff slides and board packs, involvement in monthly underwriting packs, monthly premium tracker and monthly plan vs. actuals variance reporting with investigation where necessary.

This role also incorporates planning and re-forecasting; assisting the FP&A Manager with the annual corporate plan and quarterly re-forecasting, as well as bridging analysis of the corporate plans and SBF’s, as well as involvement in SII reporting, cash flow and investment forecasting and analysis, Risk Appetite confirmation.

The successful candidate will ideally be ACCA / CIMA qualified or studying and must have experience of financial planning gained within the insurance industry.

Hugely successful International insurance company and Lloyd’s managing agency / syndicate looking to recruit a Financial Risk Analyst for immediate start. The successful candidate will be a qualified CFA (Charted Financial Analyst), should possess post qualified experience and have good experience of economic scenario analysis. This role will be based in our client’s offices in the City of London.

Role responsibilities to include: 

• Analysis of  various risks in the investment portfolios and potential impact on the firm’s capital.
• Running stress tests and scenario analysis for current and future expected asset allocations.
• Validation of results produced by the firms internal models,  producing thorough analysis of complex fixed income securities, i.e. asset backed, mortgages, and absolute return funds.
• Reconciliation of risk data derived from internal models with the risk system used by the firm’s investment team.
• Proposing improvements of risk analysis and reporting to the Investment Committee, Lloyd’s and the regulator.    

Hugely successful Lloyd’s Syndicate / insurance company with excellent working environment are looking for an ACCA qualified Corporate / Financial Accountant to join their City based team.

• Qualified ACCA or CIMA Accountant
• UK GAAP experience
• Tax and VAT knowledge
• Set up of financial processes, including general ledger
• Day to day accounting, periodic management, statutory reporting and MI
• Maintenance of corporate treasury and purchase ledger process in co-ordination with the syndicate finance team of current Managing Agency

The successful candidate should have previous Tax and VAT experience, and ideally partnership / LLP accounting experience.

Previous insurance industry experience is preferable either within an insurance company or Lloyd’s syndicate or Managing Agency.