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- Tasks: Prepare financial info for reinsurance and support month-end closing tasks.
- Company: Join Pension Insurance Corporation, a leader in secure retirement incomes and risk management.
- Benefits: Enjoy private medical insurance, 28 days annual leave, and a generous pension scheme.
- Why this job: Be part of a resilient team that values adaptability and loyalty while making a social impact.
- Qualifications: 2+ years of accounting experience, ideally in financial services or insurance.
- Other info: Opportunity to participate in performance-related bonus plans and ad-hoc projects.
The predicted salary is between 36000 - 60000 £ per year.
Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.
Overall responsibility for preparation of reinsurance related financial information and supporting Senior Finance Accountants for effective month-end closing, with a focus on IFRS17 accounting and reporting. Our Company values are expected to be reflected in the delivery and performance of every role.
Specific accountabilities assigned to the role of Finance Accountant within the Accounting & Finance Control team:
- Responsible for the preparation of month-end information relating to reinsurance (transactions, journals, reconciliations, data entry and all other information that may be required in the general ledger and financial records) of the Group including P&L and Balance Sheet on IFRS and Solvency II basis.
- Ensuring that reinsurance related balance sheet reconciliations are completed and follows the month-end timetable.
- Perform analytical review of movements in reinsurance balances.
- Prepare and update IFRS17 accounting models for finance close process, including support the preparation and running of IFRS17 systems.
- Perform daily reinsurance reconciliation and management of control account.
- Investigate any issues arising from day-to-day transactions and reconciliation differences with relevant teams.
- Other accounting tasks to support the effective month end closing accounting process.
- Support the Senior Finance Accountant prepare and maintain the overall reconciliation files for all the General Ledgers in Oracle for both IFRS and Solvency II.
- Liaising with external auditors as required.
- Ensuring efficient and effective accounting controls are maintained to deliver month-end information with accuracy.
- Participate in ad-hoc change projects and perform User Acceptance Testing, where necessary.
Knowledge
- Good knowledge of accounting processes and controls.
- Good working knowledge of accounting ledger systems e.g. Oracle.
- Good working knowledge of Microsoft Office package – especially Excel.
- Familiar with International Financial Reporting Standards (IFRS) and its application.
- Good knowledge of PRA reporting requirements.
Experience
- 2+ years of accounting experience.
- Experience in entity and group accounting within financial services (preferred), ideally within insurance industry or similar within a big 4 accounting environment.
- Experience in taking on existing processes and improve/simplify.
In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.
Finance Accountant employer: PIC
Contact Detail:
PIC Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Finance Accountant
✨Tip Number 1
Familiarise yourself with IFRS17 accounting standards, as this role heavily focuses on them. Consider taking a short online course or reading up on recent changes to ensure you can discuss your knowledge confidently during the interview.
✨Tip Number 2
Brush up on your Excel skills, particularly in areas like data analysis and financial modelling. Being able to demonstrate advanced Excel capabilities will set you apart, especially since the role involves preparing and updating accounting models.
✨Tip Number 3
Network with professionals in the insurance and finance sectors. Attend industry events or join relevant online forums to connect with people who might provide insights into the company culture at Pension Insurance Corporation and the specifics of the Finance Accountant role.
✨Tip Number 4
Prepare to discuss your experience with accounting ledger systems, particularly Oracle. Be ready to share specific examples of how you've used these systems in previous roles, as this will demonstrate your practical knowledge and readiness for the position.
We think you need these skills to ace Finance Accountant
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant accounting experience, particularly in financial services or the insurance industry. Emphasise your familiarity with IFRS and any specific accounting systems like Oracle.
Craft a Strong Cover Letter: In your cover letter, express your understanding of Pension Insurance Corporation's values: Resilient, Adaptable, and Loyal. Share examples from your past work that demonstrate these qualities, especially in relation to month-end closing processes.
Highlight Relevant Skills: Clearly outline your skills in accounting processes, controls, and analytical reviews. Mention your proficiency in Microsoft Excel and any experience with reinsurance transactions or balance sheet reconciliations.
Showcase Continuous Improvement: Discuss any previous experiences where you improved or simplified existing accounting processes. This aligns well with the role's requirement for enhancing efficiency in month-end closing and reconciliation tasks.
How to prepare for a job interview at PIC
✨Understand IFRS17 Inside Out
Make sure you have a solid grasp of IFRS17 accounting principles, as this role heavily focuses on them. Be prepared to discuss how you've applied these standards in your previous roles and any challenges you've faced.
✨Showcase Your Analytical Skills
Since the position involves performing analytical reviews of reinsurance balances, be ready to demonstrate your analytical skills. Bring examples of how you've successfully analysed financial data and resolved discrepancies in past roles.
✨Familiarise Yourself with Oracle
As the job requires working with Oracle for general ledgers, it’s crucial to show familiarity with this system. If you have experience with Oracle or similar accounting software, highlight that during the interview.
✨Emphasise Team Collaboration
This role involves liaising with various teams and external auditors. Be prepared to discuss your experience in collaborative environments and how you’ve effectively communicated with different stakeholders to achieve common goals.
