Financial Accountant- Part Qualified -Insurance

  • Sector: LMA UK Finance & Accounting
  • Contact: Juneid Razzak
  • Contact Email: juneid.razzak@lmarecruitment.com
  • Duration: 12 Months
  • Client: LMA
  • Location: London
  • Salary: Up to £40000.00 per annum + Plus Bonus
  • Expiry Date: 06 November 2021
  • Job Ref: BBBH188600_1633619660

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Main purpose and objective of the role


The principal purpose of the role is to undertake a range of tasks related to accounting, tax, reporting and pending item management in order to support the CFO in satisfactorily addressing the internal and external responsibilities of the Accounting department.

Key responsibilities

  • Prepare journal entries; undertake month end closing of the IFRS4 system; prepare a suite of month end balance sheet reconciliations; prepare other workbooks, reconciliations and analyses used by the Accounting team for internal and Head Office reporting
  • At an appropriate time during 2022/23, learn the equivalent tasks that will be implemented for the IFRS17 system and accounting
  • Verify internal requests to offset cash receipts against receivable and payable premium/commission pending items and administer a timely offsetting process with appropriate retention of an audit trail and approvals
  • Verify internal requests to pay claims and administer a timely offsetting process of claims pending items with appropriate retention of an audit trail and approvals
  • Liaise with underwriting and claims staff as appropriate to expedite offsetting tasks
  • Prepare VAT and IPT returns. Assist with the corporation tax computation and returns
  • Assist with the supply of data and information to the external auditors
  • Prepare the Solvency II regulatory templates returns and assist with the production of the narrative reports. Adapt the processes and controls to the extent that SII is impacted by IFRS17 and future regulatory changes in the future.
  • Any other tasks that the company may reasonably assign from time to time, according to business needs


Required Qualifications, Skills and Experience

Qualifications:
  • Accounting/Finance degree or equivalent essential
  • Progression towards a professional qualification such as ACCA, ACA or CIMA

Skills & Experience
  • Knowledge of accounting practices and principles including thorough practical experience of bookkeeping or maintaining accounting ledgers. Very comfortable with debits and credits
  • Knowledge of financial principles and financial reporting
  • Knowledge of relevant legislation and regulations regarding accounting and taxation
  • Previous experience of the monthly reporting cycle of management accounts
  • Non-life insurance accounting experience preferred. Knowledge of Solvency II very useful
  • Proficiency in relevant accounting software such as SAP

Key Competencies
  • Attention to detail and accuracy
  • Planning and organising; can be flexible about priorities according to business demands; awareness of demands on the Accounting team
  • Good communication skills
  • Problem analysis and problem-solving skills
  • Use own initiative; inquisitive
  • Collaborative and supportive of co-workers
  • Confidentiality
  • Awareness of the importance of performing financial controls and various compliance expectations within a financial services firm
  • Confident in using spreadsheets. Has the ability to critique functionality and adapt/create better solutions
  • Excellent work ethic; accepts the job role necessarily has a mix of routine and more complex tasks but applies high professional standards to both