Service Company Accountant

This job is with Beazley, an inclusive employer and a member of my Gwork – the largest global platform for the LGBTQ+ business community.

Please do not contact the recruiter directly.

General

Job Description & Person Specification

Service Company Accountant

Division

Group & Statutory Reporting

Reports To

Subsidiary Team Lead Accountant

Key Relationships

Reporting, Accounting, Tax, Actuarial, Global Business, Investor Relations, Finance Change, Service Company, and Group Reporting.

Role Overview

The Service Company Accountant is responsible for the accuracy, completeness, and integrity of financial data relating to service company entities.

The role focuses on cost-plus accounting, financial reporting, reconciliations, and supporting compliance activities.

The individual will play a key role in month-end close, balance sheet integrity, and ensuring high-quality financial outputs for service company operations.

Responsibilities

• Service Company Accounting & Reporting
• Review service company cost‑plus allocations and perform post‑posting checks to ensure accuracy, completeness, and appropriate supporting documentation.
• Perform analytical reviews of cost‑plus allocations to confirm alignment to budget, with variances clearly identified and communicated to insurance carriers.
• Raise service company invoices to facilitate intercompany settlement, ensuring settlements are completed on a quarterly basis.
• Liaise with the Credit Control team to ensure timely cash allocation, and collaborate to investigate and resolve any unallocated balances.
• Prepare statutory financial statements for service company entities, ensuring full compliance with applicable accounting standards.
• Month-End Close & Financial Control
• Support the timely completion of month-end close activities for service company entities.
• Perform quarterly balance sheet and P&L analytics, identifying and investigating variances.
• Ensure all journal entries are appropriately supported and documented.
• Maintain and enhance financial controls over service company processes.
• Reconciliations & Banking
• Prepare and review bank reconciliations on a timely basis.
• Post bank transactions and investigate reconciling differences.
• Perform balance sheet reconciliations, ensuring completeness and accuracy of underlying balances.
• Resolve aged or unusual reconciling items in a timely manner.
• Compliance, Tax & Governance
• Assist with regulatory and compliance requirements.
• Support the preparation of tax returns and related submissions.
• Ensure adherence to internal controls, policies, and regulatory requirements.
• Support audit processes by providing accurate and timely information.
• Collaboration & Stakeholder Management
• Act as a key contact for service company-related queries, providing clear and timely responses.
• Work closely with finance, tax, and operational teams to ensure alignment of financial data.
• Build strong relationships with internal stakeholders and provide insights into financial performance.
• General

At Beazley we are committed to doing the right thing because it is the right thing to do.

It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours – PIED and Being Beazley.

• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamism that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Comply with Beazley procedures, policies and regulations including the code of conduct.

Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, and 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 stakeholders 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 Talent Management 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, and 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

• University degree in any discipline
• Professional accountancy qualification, preference for ACA/ACCA, or qualified by experience
• Strong technical accounting skills, especially UK GAAP and IFRS
• Proven post-qualification experience, ideally gained within financial reporting

Skills and Abilities

• General commercial and financial knowledge
• Insurance and Lloyd’s specific knowledge
• Strong analytical skills with attention to detail
• Advanced Excel skills, including Power Query and Power Pivot
• Able to communicate effectively with others, both verbally and in writing
• Able to work on own initiative
• Strong team working skills
• Able to manage time well, meet deadlines, and prioritise effectively.
• Knowledge and Experience
• Experience of designing processes and managing controls
• Aptitude and Disposition
• Outcome-focussed, self-motivated, flexible and enthusiastic
• A professional approach to interacting effectively with management and peers
• Diplomatic
• Competencies
• Technical competence / expertise
• Delivery of work to a high standard and within deadlines
• Team working
• Information seeking
• Conceptual thinking
• Analytical thinking
• Planning
• Flexibility
• Communication