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- Tasks: Oversee reinsurance accounting and collaborate across teams for optimal financial results.
- Company: Global life reinsurer with a commitment to innovation and excellence.
- Benefits: Generous leave, healthcare coverage, and wellness programmes including gym memberships.
- Other info: Diverse and inclusive culture with strong personal development opportunities.
- Why this job: Join a dynamic team and make a real impact in the finance sector.
- Qualifications: Qualified accountant with 3-4 years of experience and advanced Excel skills.
The predicted salary is between 60000 - 75000 £ per year.
We’re a global life reinsurer operating in Europe, Asia, Australia and North America, and are part of Pacific Life, a mutual insurance group. Fuelled by our pursuit of excellence and a quest to innovate, we’re proud to do things differently. Our people aren’t afraid to disrupt and challenge industry thinking and provide the best protection, savings and retirement reinsurance products and services possible.
Role Overview
The Finance Manager is expected to assume oversight of the functions integral in maintaining our leading position in the market which include reinsurance accounting, collateral management and cash accounting. In addition, this individual will play an integral role in the cross‑team deliverables between Operations, Corporate Actuarial and Finance teams, and ensuring that the finance systems infrastructure is set for optimal delivery of quarterly results.
Role Responsibilities
- Reinsurance Accounting
- Ownership of the reinsurance accounting process including but not limited to end‑to‑end accounting (reviewing journals, controls and analysis) for the balances generated from the Operations team via the SAP system.
- Building and strengthening the relationship with the operations team to enable a smooth process for migration of data from the operations system to the general ledger.
- Collateral Management & Cash Accounting
- Oversight of the end‑to‑end process to meet timely delivery of the collateral obligations to counterparties, including but not limited to:
- Daily check‑in of activities of the collateral processing team
- Reviewing outputs from team
- Timely internal and external stakeholder management for query resolution and approvals
- Oversight of the cash accounting process, including but not limited to:
- Managing liquidity requirements
- Maintenance of bank and custodian mandates
- Provision of strategic MI relating to the above processes on a monthly and quarterly basis for the senior management team meetings
- Ad hoc reporting arising from changing market conditions.
- Main point of contact for external relationships with collateral counterparties, banks, investment managers and custodians for transaction processing.
- Main point of contact for key internal stakeholder in relation to approvals for transaction processing, MI reporting and advisory discussions relating to above processes.
- Manage the execution of quarterly close process for reinsurance accounting, collateral & cash and operations processes, ensuring overall deadlines are met.
- Review of journals and associated controls to enable quarterly submissions across all accounting basis and financial statement line items associated with reinsurance accounting, collateral & cash accounting and operations processes.
- Preparation of journals in areas requiring complex accounting treatment.
- Being the main contact from Finance for any back‑office cross‑team collaboration arising from BAU activities, business expansions and project activities associated with:
- Monthly and quarter end reporting for processes within oversight
- Systems infrastructure
- Building a strong relationship with peers across the back‑office teams.
- Knowledge building across teams and where possible supporting the delivery of training sessions.
- Ensuring smooth delivery of results across teams during quarter ends.
- Support in new projects within the Finance Team, which includes but is not limited to a major back‑office transformation project.
- Support AVPs or VP on ad hoc tasks including but not limited to accounting impact assessment for any strategic initiatives.
- Coaching and managing of direct reports (and their reports if any).
- Performing regular reviews and performance appraisals.
- Participation in wider Finance, Pacific Life and Pacific Life Re initiatives around HR strategy, training, staff development and study support.
- Personal development and training (FTC only).
Qualifications & Experience
- A qualified accountant (3–4 years post‑qualification experience), with some insurance background (in industry or practice).
- Advanced Excel skills.
- PowerPoint skills.
Competencies and Behaviours
- Problem‑solving abilities.
- Demonstrate flexible and efficient time management and ability to prioritise workload.
- Ability to communicate complex concepts and information across different disciplines and levels of seniority with the organisation, both orally and in writing.
- Ability to produce high quality work within agreed deadlines.
- Team player who can maintain good working relationships and motivate team to achieve goals/deadlines.
- Excellent documentation skills proven in the workplace.
- Ability to be pragmatic.
Benefits (Only for Permanent and Fixed Term Employees)
- Leave
- 25 days of annual leave with option to buy/sell more days.
- Adoption and fertility leave.
- Generous enhanced parental leave.
- Healthcare
- Comprehensive private insurance coverage for employee and dependents.
- Group Life Insurance coverage of 9× basic annual salary and Group Income Protection up to 75% of basic annual salary.
- Optical benefits.
- Savings & Retirement
- 15% combined employee/employer contributions.
- Wellness
- Subsidised gym membership.
- Access to Employee Assistance Program.
- Cycle to Work and Electric Car Salary Sacrifice Scheme.
- Time off for volunteering.
- Charitable matching of employee donations.
Equal Employment Opportunity
We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential. As part of our commitment to diversity and inclusion, we will provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities. Please contact us about your needs so that we can discuss these with you to make sure that suitable adjustments are made where possible.
Finance Manager employer: Pacific Life
Contact Detail:
Pacific Life Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Finance Manager
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance industry, especially those who work in reinsurance. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of reinsurance accounting and collateral management. We recommend practising common interview questions and scenarios related to these areas to show you’re the right fit.
✨Tip Number 3
Don’t underestimate the power of follow-ups! After an interview, drop a quick thank-you email to express your appreciation and reiterate your interest in the role. It keeps you fresh in their minds.
✨Tip Number 4
Apply through our website for the best chance at landing that Finance Manager role. We love seeing applications directly from candidates who are keen on joining our innovative team!
We think you need these skills to ace Finance Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that match the Finance Manager role. Highlight your accounting expertise, especially in reinsurance and cash management, to show us you’re the right fit!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to tell us why you’re passionate about finance and how your background aligns with our innovative approach. Don’t forget to mention any relevant projects or achievements!
Showcase Your Team Spirit: We love team players! In your application, share examples of how you’ve collaborated with others in past roles. Highlighting your ability to build relationships across teams will definitely catch our eye.
Apply Through Our Website: We encourage you to apply directly through our website for a smoother process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates!
How to prepare for a job interview at Pacific Life
✨Know Your Numbers
As a Finance Manager, you'll need to demonstrate your expertise in reinsurance accounting and cash management. Brush up on key financial metrics and be ready to discuss how you've managed similar processes in the past. Use specific examples to showcase your experience with SAP or other finance systems.
✨Build Relationships
This role requires strong collaboration with various teams. Prepare to talk about how you've successfully built relationships with stakeholders in previous roles. Think of examples where you facilitated smooth communication between finance and operations, as this will show your ability to work cross-functionally.
✨Showcase Problem-Solving Skills
Expect questions that assess your problem-solving abilities. Be ready to share instances where you've tackled complex accounting issues or improved processes. Highlight your analytical skills and how they contributed to timely financial reporting or stakeholder management.
✨Demonstrate Flexibility and Time Management
The job description emphasises the need for efficient time management and flexibility. Prepare to discuss how you've prioritised workloads in high-pressure situations, especially during quarter-end reporting. Share strategies you've used to meet deadlines while maintaining high-quality work.