Job Description

Employment Type

Temporary Worker

Location

London

Role Details

vJOB TITLE:


IFRS17 Technical Accountant (Reporting)


DEPARTMENT:


Finance


JOB HOLDER:




REPORTS TO:


Senior Manager IFRS17




Purpose of the Job:


This position is part of the IFRS17 team. The role supports quarterly and annual Brit IFRS17 reports, ensures financial data accuracy, collaborates with various internal stakeholders and preparation of Brit's MI pack. The role will also manage the IFRS 17 expense process and reporting in compliance with IFRS 17.




Budget and Headcount Information:


- Not applicable.


Principal Accountabilities:


Take a lead role in the production of Brit's quarterly IFRS 17 results. This will include:


- Review and update the IFRS 17 expenses process (assumptions, estimates, allocations, expenses reconciliation) and analysis.


- Coordinate with internal stakeholders to gather and validate financial data.


- Prepare consolidation adjustments using Risk Integrity outputs and share with Group Reporting.


- Reconcile consolidated IFRS 17 results to UK GAAP / IFRS 4, covering both P&L and balance sheet.


- Prepare and validate all relevant input reconciliations for ingestion into the IFRS 17 data platform and Moody's Risk Integrity.


- Upload consolidated IFRS 17 journals into OneStream for Head Office reporting.


- Prepare the IFRS 17 commentary for the President's Report (Brit's MI pack) every quarter and conduct variance and performance analysis for internal and Group reporting purpose.


- Develop and maintain IFRS 17 reporting templates and documentation.


- Assist in the quarterly reporting cycle, ensuring compliance with IFRS 17 standards.


- Prepare IFRS 17 financial statements for interim and year-end reporting, including front half commentary on underwriting performance.


- Respond to Head Office queries on key movements in IFRS 17 results.


- Provide technical guidance on IFRS 17 accounting treatments and disclosures.


- Support responses to internal and external stakeholder queries.


- Assist external auditors during the IFRS 17 audit process.


- Contribute to continuous improvement of IFRS 17 reporting processes.




Other accountabilities


- To provide support to the Head of IFRS17, Group Financial Controller or wider Finance leadership team, as necessary.


- To discharge your duties in respect of Financial Controls for your areas of responsibility.


- Involvement in ad hoc projects where necessary, including leading them where appropriate.


Decision Making Responsibilities:


Not applicable


Education, Qualifications, Knowledge, Skills and Experience


Technical skills


- Significant technical knowledge and practical experience in insurance accounting is required, including IFRS 17, IFRS 4 and UK GAAP.


- Excel functionality to an advanced user level.


- Good knowledge of data, including data management, analysis, investigation and validation.


- Preparation of IFRS 17 financial statements, conducting variance and performance analyses, and developing as well as maintaining reporting templates.


- Knowledge of PowerPivot and Power Query is preferable but not essential.


Competencies


- Track record of delivering a high-quality product to tight deadlines.


- Experience of Prophix, OneStream or Moody's Risk Integrity would be beneficial.


- Effective prioritisation and organisational skills, and an ability to adapt to changing requirements and work within a team.


- Excellent interpersonal and communication skills.


- Able to demonstrate adaptability and flexibility.


- Advanced numeric and analytical skills, with good attention to detail.


- Well-developed report writing and documentation skills.


- Experienced in presenting results to senior stakeholders and capable of working independently while providing support to senior finance leadership.


Business & Educational Experience


- Qualified Accountant with 5+ years post-qualified experience, preferably ACA or equivalent with a leading professional firm background.


- Knowledge of general, commercial insurance industry practices and policies.


- Demonstrated application of IFRS 17 in a reporting environment.


- Experience supporting external audits and managing financial controls.


Regulatory


1. Act with integrity.


2. Act with due skill, care and diligence.


3. Be open and co-operative with Lloyd's, the FCA, the PRA, and other regulators.


4. Pay due regard to the interests of customers and treat them fairly.


5. Observe proper standards of market conduct.


6. Act to deliver good outcomes for retail customers.