At a Glance
- Tasks: Produce Solvency II reports and support regulatory compliance.
- Company: Beazley is a leading insurance company committed to integrity and professionalism.
- Benefits: Enjoy a collaborative work culture with opportunities for professional development.
- Other info: Flexible working environment with a focus on teamwork and ethical practices.
- Why this job: Join a dynamic team focused on innovation and regulatory excellence in the insurance sector.
- Qualifications: University degree and professional accountancy qualification preferred; strong analytical skills required.
The predicted salary is between 42000 - 60000 £ per year.
Job Title
Regulatory Reporting Accountant
Division
Finance
Reports To
As per Beazley’s organisation chart
Key Relationships
Finance team, Actuarial team, Lloyd’s of London, Actuaries, Compliance and Auditors.
Job Summary
Enhancing and implementing process improvements from current defined processes contributing to accurate and timely production of Beazley managed Syndicates Regulatory and Statutory Reporting requirements such as Syndicate Flash Reports, Interim & Annual Accounts, Schedule 3 data returns, QMA Delta, MAS/LFSA Returns, Situs Reporting, and QMB.
Key Responsibilities
Individual – BAU Reporting
- Supporting the production of defined regulatory and financial reporting to Lloyd’s for Beazley managed Syndicates (Interim and Annual accounts, Flash Reports, QMA Delta, Schedule 3 data returns, QMB, Situs (US and Canada), etc).
- Analytical review of financial information including close liaison with various teams across finance such as; FP&A, Actuarial, Syndicate Accounting, Expenses, Investments and Tax.
- Ability to interrogate financial data and systems, to understand, challenge and draw conclusions to provide insight to the Syndicate results.
- Supporting the preparation of regulatory review packs for presentation to senior management at regulatory review committees.
Individual – BAU Enhancements/Development
- Support the continued development and improvement of the financial reporting processes, systems and controls and driving efficiencies on newly implemented systems and tools.
- Supporting the enhancement of the controls over the reporting process as defined in the Beazley risk management framework.
- Support the transition of ownership of the interim and annual Syndicate Accounts into the team and documenting end to end process.
- Support the Regulatory Reporting Manager on other finance reporting requirements/projects as required.
- Support the production of the wider Syndicate Solvency UK reporting and required developments.
General
- Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.
- Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Personal Specification
Essential Criteria
- Professional accountancy qualification, preference for ACA/ACCA/ICAS/CIMA.
- Graduate equivalent education and/or qualifications.
- Good understanding of non-life insurance accounting, especially UK GAAP and IFRS.
Skills and Abilities
- Strong computing skills – Excel/PowerPivot/PowerBI/MS Office/Workday/Workiva.
- Strong analytical skills with attention to detail.
- Must be able to work as part of a team.
- Able to work on own initiative.
- Good interpersonal and communication skills.
- Proactive, self-starter, seeks continuous improvement.
- Ability to manage time, meet deadlines and prioritise.
Knowledge and Experience
- Experience of insurance statutory and regulatory reporting required.
- Experience of Lloyd’s reporting highly advantageous but not essential.
Competencies
- Technical competence and expertise.
- Analytical thinking/information seeking.
- Communication.
- Integrity.
- Accuracy.
- Speed and quality.
- Flexibility.
Regulatory Reporting Accountant employer: Beazley
At Beazley, we pride ourselves on being an exceptional employer, offering a collaborative and dynamic work environment that fosters professional growth and development. Our commitment to integrity and excellence is reflected in our supportive culture, where employees are encouraged to innovate and contribute to meaningful projects, particularly in the realm of regulatory reporting. Located in a vibrant area, we provide competitive benefits and opportunities for continuous learning, making us an ideal choice for those seeking a rewarding career in finance.
StudySmarter Expert Advice🤫
We think this is how you could land Regulatory Reporting Accountant
✨Tip Number 1
Familiarise yourself with the latest Solvency II regulations and reporting requirements. This will not only help you in interviews but also demonstrate your commitment to staying updated in a rapidly changing regulatory environment.
✨Tip Number 2
Network with professionals in the insurance and regulatory reporting sectors. Attend industry events or join relevant online forums to connect with others who can provide insights or even refer you to opportunities at StudySmarter.
✨Tip Number 3
Brush up on your technical accounting skills, especially UK GAAP and IFRS. Consider taking short courses or certifications that can enhance your knowledge and make you stand out as a candidate.
✨Tip Number 4
Prepare for potential interview questions by practising how to explain complex regulatory concepts clearly and concisely. This will showcase your communication skills and ability to work effectively with various teams.
We think you need these skills to ace Regulatory Reporting Accountant
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights your experience with Solvency II reporting and any relevant qualifications, such as ACA or ACCA. Emphasise your analytical skills and technical accounting knowledge to align with the job requirements.
Craft a Strong Cover Letter:In your cover letter, express your enthusiasm for the role and the company. Mention specific experiences that demonstrate your understanding of regulatory reporting and your ability to improve processes, as outlined in the job description.
Showcase Relevant Experience:When detailing your work history, focus on roles where you have been involved in regulatory reporting within the insurance sector. Highlight any achievements related to process improvement or compliance with reporting standards.
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 crucial for a Regulatory Reporting Accountant.
How to prepare for a job interview at Beazley
✨Know Your Solvency II Inside Out
Make sure you have a strong grasp of Solvency II reporting requirements. Be prepared to discuss specific examples of how you've applied this knowledge in your previous roles, as it will demonstrate your expertise and readiness for the position.
✨Showcase Your Analytical Skills
Highlight your analytical skills during the interview. Prepare to discuss how you've used data analysis to improve reporting processes or resolve issues in past positions. This will show that you can contribute to the continuous improvement of the regulatory reporting function.
✨Demonstrate Teamwork and Communication
Since this role involves working closely with various teams, be ready to share examples of successful collaboration. Discuss how you effectively communicate complex information to non-technical stakeholders, which is crucial for a Regulatory Reporting Accountant.
✨Prepare for Technical Questions
Expect technical questions related to UK GAAP, IFRS, and Lloyd's reporting requirements. Brush up on these topics and be ready to explain how you've navigated challenges in these areas, showcasing your problem-solving abilities and technical competence.
