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- Tasks: Manage and reconcile reinsurance financial transactions with precision.
- Company: Join a prestigious insurance giant known for its strong reputation.
- Benefits: Enjoy a competitive salary, hybrid work options, and a fantastic benefits package.
- Why this job: Be part of a supportive team that values professionalism and social enjoyment.
- Qualifications: Must be ACA/ACCA/CIMA qualified with reinsurance accounting experience.
- Other info: Only candidates with relevant experience will be considered.
The predicted salary is between 48000 - 52000 £ per year.
£60,000 - £65,000 + great benefits package and bonus
Hybrid based (Choice of locations for time spent in the office: London, Hertfordshire, Bristol)
Our client, a highly reputable insurance giant, is looking to add to their ranks with the recruitment of a skilled qualified professional within their financial reporting accounting team.
The key focus of this position will be managing and reconciling all reinsurance-related financial transactions. You will ensure the accurate recording, analysis, and reporting of reinsurance accounts, both internally and externally to Reinsurers.
This is a key role within the business and will work cross-functionally with Pricing, Claims Administration, Actuarial and Accounting Teams to ensure robust financial controls and reporting within a regulated environment.
Key responsibilities:
- Maintain accurate accounting records for reinsurance treaties.
- Prepare and post monthly reinsurance journals in accordance with IFRS17, SII and UKGAAP.
- Analyse variances and provide commentary on reinsurance balances and performance.
- Support monthly and quarterly close processes.
- Assist in the production of balance sheet reconciliations.
- Provide audit support and ensure compliance with Solvency II and other PRA/FCA regulatory requirements.
- Work with actuarial and finance teams on reinsurance-related modelling.
- Identify opportunities to enhance reporting efficiency and controls.
- Providing support to reinsurance operations process design.
You will be professionally qualified (ACA/ACCA/CIMA) and will have a strong working knowledge of BPA schemes and reinsurance verification lifecycles.
Candidates should be confident and analytically strong, able to identify, investigate and resolve complex technical problems, and be able to rely on their initiative at all times. They should have a track record in working with a large volume of data and be comfortable substantiating a balance sheet as a whole.
In return for consistently strong performance, the candidate's efforts will be regularly acknowledged and rewarded accordingly. They will play a key role within a welcoming and supportive environment that manages to create the right mix of professionalism and social enjoyment.
Only applicants with experience working within a re-insurance accounting function will be considered.
Senior Financial Accountant employer: Vitae Financial Recruitment
Contact Detail:
Vitae Financial Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Financial Accountant
✨Tip Number 1
Network with professionals in the insurance and reinsurance sectors. Attend industry events or join relevant online forums to connect with individuals who can provide insights or even refer you to opportunities at our company.
✨Tip Number 2
Familiarise yourself with IFRS17, SII, and UKGAAP regulations. Being well-versed in these standards will not only boost your confidence during interviews but also demonstrate your commitment to staying updated in the field.
✨Tip Number 3
Prepare to discuss your experience with reinsurance verification lifecycles in detail. Be ready to share specific examples of how you've managed complex financial transactions and reconciliations in previous roles.
✨Tip Number 4
Showcase your analytical skills by preparing a case study or example of how you've identified and resolved technical problems in financial reporting. This will highlight your problem-solving abilities and make you stand out as a candidate.
We think you need these skills to ace Senior Financial Accountant
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in reinsurance accounting and your qualifications (ACA/ACCA/CIMA). Use specific examples that demonstrate your ability to manage financial transactions and reconcile accounts.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Mention your relevant experience with BPA schemes and your analytical skills. Show how you can contribute to the financial reporting team.
Highlight Relevant Skills: Emphasise your technical skills related to IFRS17, SII, and UKGAAP. Discuss your experience with balance sheet reconciliations and your ability to work cross-functionally with other teams.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any errors or inconsistencies. A polished application reflects your attention to detail, which is crucial for a Senior Financial Accountant.
How to prepare for a job interview at Vitae Financial Recruitment
✨Know Your Numbers
As a Senior Financial Accountant, you'll be expected to have a strong grasp of financial data. Brush up on your knowledge of reinsurance-related financial transactions and IFRS17, SII, and UKGAAP standards. Be prepared to discuss how you've managed and reconciled these in previous roles.
✨Demonstrate Analytical Skills
This role requires someone who can analyse variances and provide insightful commentary. Prepare examples from your past experience where you identified complex issues and resolved them effectively. Highlight your analytical approach during the interview.
✨Showcase Cross-Functional Collaboration
You'll be working with various teams such as Pricing, Claims Administration, and Actuarial. Think of instances where you've successfully collaborated across departments. Emphasise your ability to communicate and work well with others to achieve common goals.
✨Prepare for Technical Questions
Expect questions that test your technical knowledge, especially regarding reinsurance verification lifecycles and BPA schemes. Review relevant concepts and be ready to explain them clearly. This will demonstrate your expertise and confidence in the subject matter.
