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- Tasks: Lead a team managing financial controls and audits in the insurance sector.
- Company: Join a reputable small to mid-sized insurance broker with a strong UK presence.
- Benefits: Enjoy a competitive salary, annual bonus, and flexible hybrid working options.
- Why this job: Be part of a dynamic team focused on compliance and continuous improvement in finance.
- Qualifications: Must have 5+ years PQE in finance, ACA/ACCA/CIMA qualified, with strong insurance knowledge.
- Other info: Opportunity to lead projects and implement new systems in a supportive environment.
The predicted salary is between 43200 - 72000 £ per year.
Our client is a small to mid-sized insurance broker with a strong presence in the UK market. They are committed to delivering exceptional services and maintaining high standards in their industry.
Your role as the FC will be to manage the department including a team of credit controllers, treasury assistants and insurer reconciliations clerks.
- Responsible for the annual client money audit and be the key contact for all audit liaison.
- Ensure fully compliant within FCA regulations - mitigate exposure to CASS 5 breaches.
- Continuous improvement and documentation of IBA controls and procedures.
- Review/perform client money calculation is performed in accordance with CASS 5.
- Review bank reconciliations for the various IBA bank accounts.
- Chair monthly meetings to discuss all aspects of IBA i.e. aged debt, unallocated cash, bad debts, funding etc.
- Responsible for producing detailed aged debt reports in accordance with month end timetable.
- Responsible for producing client by client rec in accordance with audit and annual requirements.
- Responsible for producing balance sheet reconciliation for all IBA balances.
- Ensure on-going completeness and integrity of data produced by insurance system.
- Ensure prompt month-end close.
- Assisting team with managing complex client ledgers.
- Ensure timely collection of monies and payment to underwriters accordingly.
- Manage projects (including legacy balances).
- Matching and resolving unallocated cash and claims balances.
- Ensure monthly broker statements sent out in timely manner.
- Project lead the implementation of new insurance system.
- Liaise and establish good relationships with external brokers.
The successful candidate will be:
- Strong insurance sector experience and knowledge and understanding of the Insurance markets - Lloyds, LIRMA and LIU.
- Qualified in ACA, ACCA and CIMA with a minimum of 5+ years PQE.
- Excellent Team Management.
- Regulatory and FCA Reporting.
- Excellent analytical and problem-solving skills.
- Excellent Excel ability and handling of large data sets.
Job Offer:
- Competitive salary.
- Discretionary Annual bonus.
- Comprehensive benefits package.
- 35 hour working week.
- Flexible hybrid working arrangement.
Contact Detail:
Michael Page Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Controller - Michael Page
✨Tip Number 1
Familiarise yourself with the FCA regulations and CASS 5 compliance. Understanding these regulations will not only help you in interviews but also demonstrate your commitment to maintaining high standards in the insurance sector.
✨Tip Number 2
Network within the insurance industry, especially with professionals who have experience in financial control roles. Attend industry events or join relevant online forums to connect with potential colleagues and learn more about the company culture.
✨Tip Number 3
Brush up on your Excel skills, particularly in handling large data sets. Being proficient in Excel is crucial for this role, so consider taking a short course or practising advanced functions to showcase your capabilities.
✨Tip Number 4
Prepare to discuss your experience in managing teams and projects. Be ready to provide specific examples of how you've led teams through challenges, as strong team management is a key requirement for this position.
We think you need these skills to ace Financial Controller - Michael Page
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in the insurance sector, particularly any roles that involved financial control or compliance with FCA regulations. Use specific examples to demonstrate your skills in managing teams and handling complex client ledgers.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention your qualifications (ACA, ACCA, CIMA) and how your 5+ years of PQE make you a suitable candidate. Be sure to address how you can contribute to continuous improvement and compliance within the department.
Highlight Relevant Skills: Emphasise your analytical and problem-solving skills, as well as your proficiency in Excel and handling large data sets. These are crucial for the Financial Controller position, so provide examples of how you've successfully used these skills in previous roles.
Proofread Your Application: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. A polished application reflects your attention to detail, which is essential for a role that involves financial reporting and compliance.
How to prepare for a job interview at Michael Page
✨Showcase Your Insurance Knowledge
Make sure to brush up on your understanding of the insurance sector, particularly Lloyds, LIRMA, and LIU. Being able to discuss current trends and regulations will demonstrate your expertise and commitment to the industry.
✨Prepare for Technical Questions
Expect questions related to FCA regulations and CASS 5 compliance. Be ready to explain how you would ensure compliance and mitigate risks, as this is a crucial part of the Financial Controller role.
✨Highlight Team Management Experience
Since the role involves managing a team, be prepared to discuss your leadership style and provide examples of how you've successfully managed teams in the past. This could include handling conflicts, motivating team members, or improving team performance.
✨Demonstrate Analytical Skills
Given the emphasis on analytical and problem-solving skills, prepare to discuss specific instances where you've used these skills to resolve issues or improve processes. Use data-driven examples to illustrate your points.
