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- Tasks: Lead finance operations, manage a team, and ensure compliance in a dynamic insurance environment.
- Company: Join a reputable insurance broker with a strong UK market presence and commitment to excellence.
- Benefits: Enjoy a competitive salary, annual bonus, and flexible hybrid working options.
- Why this job: Be part of a supportive culture focused on continuous improvement and professional growth.
- Qualifications: Must have 5+ years in the insurance sector and be ACA, ACCA, or CIMA qualified.
- Other info: Opportunity to lead projects and implement new systems while working in the heart of London.
The predicted salary is between 43200 - 72000 £ per year.
The Financial Controller will oversee accounting and finance operations within a reputable insurance company, ensuring compliance and efficient financial management. This role is based in the City of London and will offer hybrid working.
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 Banking Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Financial Controller
✨Tip Number 1
Familiarise yourself with the latest FCA regulations and CASS 5 compliance requirements. This knowledge will not only help you in interviews but also demonstrate your commitment to maintaining high standards in financial management.
✨Tip Number 2
Network within the insurance sector, especially with professionals who have experience in roles similar to the Financial Controller. Attend industry events or join relevant online forums to build connections that could lead to valuable insights or referrals.
✨Tip Number 3
Prepare to discuss your experience with team management and project leadership. Be ready to share specific examples of how you've successfully led teams or managed projects, particularly in relation to financial operations or system implementations.
✨Tip Number 4
Brush up on your Excel skills, especially in handling large data sets. Being able to showcase your analytical abilities and problem-solving skills with real-life examples will set you apart from other candidates.
We think you need these skills to ace Financial Controller
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your relevant experience in the insurance sector, particularly your knowledge of FCA regulations and financial management. Use specific examples that demonstrate your expertise in managing teams and handling complex client ledgers.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the Financial Controller role and explain how your qualifications align with the job requirements. Mention your experience with audit liaison and compliance to showcase your suitability for the position.
Highlight Key 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 role, so provide examples of how you've successfully used these skills in previous positions.
Proofread Your Application: Before submitting your application, carefully proofread all documents to ensure there are no errors or typos. A polished application reflects your attention to detail, which is essential for a Financial Controller.
How to prepare for a job interview at Michael Page Banking
✨Showcase Your Regulatory Knowledge
Make sure to brush up on FCA regulations and CASS 5 compliance. Be prepared to discuss how your experience aligns with these regulations, as this will demonstrate your understanding of the insurance sector and its requirements.
✨Highlight Team Management Skills
Since the role involves managing a team, be ready to share examples of your leadership style and how you've successfully managed teams in the past. Discuss any challenges you've faced and how you overcame them to foster a productive work environment.
✨Prepare for Technical Questions
Expect questions related to financial management, client money calculations, and bank reconciliations. Brush up on your technical skills, especially in Excel, as you'll likely need to demonstrate your ability to handle large data sets effectively.
✨Demonstrate Continuous Improvement Mindset
The role requires ongoing improvement of IBA controls and procedures. Be ready to discuss any initiatives you've led or been part of that improved processes in your previous roles, showcasing your proactive approach to financial management.
