Assist Syndicate Reporting Accountant - London, United Kingdom - MS Amlin
Description
Purpose
Syndicate 2001 is among the top 5 Lloyd's syndicates in the market and therefore highly material in the Lloyd's context. As a result it is critical to ensuring a good relationship is maintained with Lloyd's. The role involves the reporting of the most critical Lloyd's data. Preparation of Syndicate 2001 returns to Lloyd's including all Solvency II Pillar 3 reporting, including:
Assisting in the preparation of the Lloyd's regulatory returns and ensuring the accurate and timely production of all Lloyd's syndicate reporting, including Annual Accounts for Management review and Board sign off.
Maintain compliance and ensure the production of all syndicate reports in line with regulatory requirements keeping up with the Technical team on revised Accounting and reporting requirements.
Continuously seek to improve and develop processes and reporting as systems develop and the Business changes.
Dimensions
Accounting of insurance technical and non-technical transactions in the relevant ledgers of the Syndicate, Managing Agency and Corporate member.
Keep up-to-date with changes to regulatory reporting requirements for the Lloyd's Syndicate with Technical Team and Auditors.
Assisting in the preparation of all outputs of syndicates, including QMA, QMB, QSR, SII, QF&AF1, US Reporting, Canadian Reporting, FCA/PRA reporting, statutory accounts, Distribution files, taxation reporting amongst others.
Work closely with internal business on the QMB and Segmental Class reporting to ensure they are aware of what is being reported to Lloyd's
Preparation of audit files for internal and management reviews.
Necessary liaison with parties involved in the process, in particular the Finance Operations Team and FP&A Team, to ensure the end result is delivered in the timeframe and within standards required.
Assisting in the preparation of statutory accounts for group companies, including corporate members, liaising with internal GTA team and external auditors.
Assist in the timely production of reports ensuring that they are in accordance with relevant timetables and there is sufficient time for in-depth management reviews.
Production of analytical tools and analytical memos supporting individual reports
Keeping up with all technical aspects affecting the production of syndicate returns.
All operational aspects of the production of documents to ensure timely and accurate production of syndicate returns.
Keeping up with the development of process improvements and system enhancements, typically within a formal project framework, to ensure the efficient and accurate production of data.
Responsible for the documentation of procedures affecting the areas under remit support for other adhoc projects as necessary.
Key Result Areas.
Accounting: To understand the accounting and reporting needs of the Syndicate entities and to provide the full range of accounting and financial reporting required for entity, Lloyd's and any Head office consolidation reporting . Responsible for the maintenance of complete and accurate accounting records for the Syndicate entities including accurate monthly management accounts.
Management information. Production of timely and accurate management reports as guided by the Finance Leadership Team.
Other reporting. Production of complete, accurate and timely production of financial reporting information required for external Bank or credit lenders reporting purposes, including MSIJ Head Office requirements.
Quality assurance. Review all outputs, ensuring that the ultimate customers can rely on the quality of production and to reduce the level of review required by senior management particularly with regard to board reporting. An important aspect of the role will be to review the quality of the quarterly results for both internal and Head office reporting purposes.
Financial control: Responsible for the development, maintenance and reporting of robust financial controls including adherence to Company policies.
Technical Knowledge. Keeps up to date with IFRS technical accounting developments. In conjunction with Technical Accounting team, able to implements changes effectively and on a timely basis as required. Act as Local GAAP expert for the Group Technical Committee (GTC).
Team management. Implement vision and direction for the team and drive team members to deliver against this. Ensure that consistent people policies are applied across directly managed teams and with the other teams. Performance of direct reports will be regularly reviewed culminating in an annual performance and development review (PDR). Learning and development opportunities identified and actively managed to support career progression opportunities. To look to ensure that staff recognise that they are part of the same MS Amlin Finance team and engage positively across the Function accordingly.
Risk management. As risk or control owner, understand and maintain the financial controls necessary to ensure quality of financial reporting on a consistent basis with the Group's risk management processes. This will include ensuring that all controls are operating effectively, attestation reviews are supported and where necessary, remediation activity followed through to strengthen the overall financial control framework for the entities.
Strategy. Understand the Amlin Group strategy and ensure that the Finance Operations team are able to adapt and service the whole of the Group. This will include continually reviewing the services of the Finance Operations team to ensure the full financial needs of the Group can be met
The Operating Environment and Context of the Job
The role is part of the Syndicate reporting team. The activities of the team operate on a quarterly reporting cycle to Lloyd's and group, the team covers the majority of Lloyd's returns and some internal Board reporting when required. Any adhoc request for information associated with Lloyd's returns.
Key Competencies:
Generic Job Specific
Able to deliver results under very tight deadlines, showing flexibility when required to deliver submissions.
Strong sense of accountability and ownership of the work assigned.
Emphasis on quality of the data outputs produce to Lloyd's and Internal Management.
Self-starter, requiring minimum supervision, with the ability to solve problems and find solutions
Strong analytical skills using large data extracts.
Team Player and able to work alone when needed.
Willingness to challenge and assimilate information before submissions.
Part or Qualified accountant – CIMA/ACCA/ACA
Good written communication.
Good oral communication.
Solid knowledge/exposure of Lloyd's syndic
ate reporting requirements as an accountant or auditor. Experience with live syndicates is desirable
Advanced experience of using Excel, Word
Technical accounting knowledge (UK GAAP and IFRS).
Experience with accounting software (CODA) desirable
Excellent awareness of Solvency II reporting requirements.
Key Interfaces:
The key people, functions and organisations (internal and external) with whom the job holder interacts:
MS AUL CFO
Head of Regulatory reporting - Finance Manager
Lloyd's of London & Japan
AUL Board, MSACM Board
Syndicate Financial Operations Manager
Strategic Business departments
Planning, Reporting and Analytics team
Actuarial team Including Capital Team
Company Secretarial
Internal and External Audit
Risk Management team
Reinsurance Management
Expenses Function
Technical Accounting Team
Exciting position moving in the Lloyd's market to develop and learn all aspects of the business, challenges around data capture and reporting, Lloyd's relationship with MSAmlin and sense of achievement regularly.