Location: London

 

The Role  

The successful candidate will work as part of the wider Syndicate Finance Operations team to support the delivery of monthly/quarterly/annual financial close in a controlled and timely manner, maintaining data integrity and structure. This involves timely posting to the general ledger, performing Balance Sheet reconciliations, preparing management information on a regular and ad hoc basis, preparing information for Audit Committee reporting, contributing information required as part of reporting to Lloyd’s of London, engaging and supporting specific finance projects and liaising with auditors. The role supports the Syndicate Finance Manager in controlling the ledgers of the syndicate. This role requires effective communication with other internal stakeholders, including actuarial, treasury, underwriters, FP&A other finance teams Company Secretarial.

 

Key Result Areas

  1. Accounting: Supporting accounting and the close of the Syndicate and general ledgers so that they are accurate and closed for month/quarter/year end in a controlled and timely manner and in accordance with Syndicate Reporting and Group Finance Operations deadlines. This will involve the timely preparation and posting of journals to the general ledger and timely reconciliation of Balance Sheet accounts from source data to the general ledger.
  1. Internal financial reporting: assist in the production of month/quarter/year end reporting packs for group reporting, reporting to the ultimate parent and reporting to the Audit Committee; working with the FP&A team to produce commentary for results.
  1. Quality assurance: self-review of own work, quality oversight of output of peers as necessary; execute and evidence controls over financial reporting process, maintain process notes, production of audit files with appropriate evidence for each general ledger account to facilitate manager review.
  1. Stakeholder management: ongoing management of stakeholders is important in the timely delivery of financial reporting.
  1. Technical knowledge: remain up to date with IFRS and UK GAAP accounting standards and financial reporting requirements.
  1. Ongoing development of the team: contributing to the development and improvement of the tools used by the Syndicate Finance Operations team including processing transactions and as part of the financial reporting process; supporting the Syndicate Finance Manager in raising other colleagues’ awareness of the work carried out by the Syndicate Finance Operations team.
  1. Auditors: provision of data to auditors for interim and year end audits and answering queries raised by them
  1. Other: assist the Syndicate Finance Manager on ad hoc projects as required, always ensuring that the output is of a high quality.

 

The Operating Environment and Context of the Job  

As part of the ultimate parent reporting requirements, the syndicates and the agency operate under a JSOx internal controls framework and report in accordance with JGAAP. The results are reported as part of group results in accordance with IFRS. These entities are also regulated by Lloyd’s of London hence they report their results in accordance with UK GAAP.

 

Key Competencies  

  • Drive – Being resilient, delivering results, demonstrating confidence and courage, sharing success, raising standards, taking personal accountability.
  • Judgement – Strategic thinking, integrity, problem solving, decision making, agile and innovative thinking, attention to detail.
  • Leadership – Empowering others, engaging and inspiring each other, building capability, being visible, enabling change.
  • Commercial Acumen – Creating value for clients, understanding the external environment, international breadth, negotiating, managing risk, disciplined execution.
  • Partnership – Building relationships, leveraging collective efforts and collaboration, creating an inclusive environment, influencing, communicating effectively, team player.
  • Client Service – Being accessible and proactive, time management skills, building trusted relationships, developing client insight, ensuring fair outcomes.

 

Job Specific Competencies

  • Qualified accountant with up-to-date IFRS and UK GAAP capabilities
  • Understanding of or experience in insurance industry (Lloyd’s experience preferred)
  • Intermediate Excel skills (Pivots, Look ups, SUMIFS etc)
  • Experience in maintaining a general ledger – in particular, preparation and understanding of general insurance technical journals
  • Strong numeric and problem-solving skills
  • Account reconciliation experience – in particular, the understanding articulation of underlying source to ledger variances
  • Understanding of FX in a multicurrency business
  • Work independently

 

Key Interfaces  

The key people, functions, and organisations (internal and external) with whom the job holder interacts:

  • UK CFO
  • Syndicate Finance Manager
  • Syndicate Finance Operations team
  • Group Finance Operations team
  • FP&A team
  • Actuarial team
  • Tax team
  • Underwriting, claims and reinsurance teams
  • Treasury and investments team
  • External auditors

 

Galejay and all its clients are inclusive employers and prides itself on the main values of honesty and integrity. If you have these qualities and wish to apply, please send your CV to Gary Forster, Managing Director, at gforster@galejay-recruitment.com