MGA Financial Accountant in London

Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch

With the office in Munich, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So, we need a smart strategy and structure in order to succeed. At UK & Ireland Life we have three pillars to our business strategy: protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture. In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise, and sharp pricing so that they are both competitive and profitable.

About the role

To be responsible for all technical accounting issues within the branch, for assigned portfolio of clients.

Key Responsibilities

• Maintaining appropriate accounting arrangements
• Monitoring the quality and appropriateness of the client accounts
• Processing of client accounts
• Collection of premiums
• Developing methods to enhance the smooth running of the financial relationship with the client
• Administering relevant client accounts, technical posting, client cash balance, accounts quality control and data collection
• Assisting in the overall management of the portfolio including profit analyses and portfolio ‘audits’
• Assisting in managing the accounting relationship with clients including managing clients’ expectations and meeting deadlines / service standards as required. This will include an element of direct client contact
• Working closely with other technical areas such as underwriting and claims to ensure an effective overall client relationship
• Process reviews, have the ability to question current processes and offer better solutions
• An interest in the latest technology and how this can influence the workplace

Competencies

• Business Acumen (we think big) - You understand the business’ ambition, your team’s commitments and how your role contributes to this.
• Plans and aligns (we lead the ‘we’) - You plan and prioritise your work to fit with deadlines and longer-term commitments for you and your team and collaborate with others, encouraging diversity of thought.
• Action oriented (we grow with our clients) - You take on new tasks, opportunities and challenges with a keen interest. You have an appetite to learn and embrace new ways of working in order to improve efficiencies and effectiveness.
• Self-development (we care and dare) - You demonstrate enthusiasm by seeking new ways to grow and be challenged, through both formal and informal development opportunities.
• Communicating Effectively (we are clear and authentic) - You openly listen to the ideas of others, seek regular feedback to develop, consider the best method for communicating and ask for support and advice when unsure.

Key Skills & Experience

• Excel, standard database packages and Word
• Ability to work accurately and to deadlines

Desirable

• SAP system experience
• Technical experience in Life, Health and Disability Insurance related fields
• Experience in Pension Annuity products
• AI knowledge is preferred

Thought Leaders

You will demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well. You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements

In addition to the responsibilities set out above, the Technical Accounting role/function will also become responsible for:

• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for! All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.