Closing & Reporting Manager

Great Lakes Insurance SE; London; On-site; GBP 60,000 - 85,000; Full time

Job summary

A leading insurance firm is seeking a qualified accountant to join their finance shared services team in London. The role involves leading closing and reporting tasks, ensuring accuracy in financial reporting and compliance with regulatory standards. Candidates should have a strong background in insurance accounting and be adept at guiding teams through audits and financial processes. This is a fantastic opportunity for someone aiming to influence the financial operations of a dynamic organization.

Qualifications

• Extensive experience in insurance accounting and regulatory reporting.
• Experience in leading finance staff.
• Knowledge of financial reporting requirements.

Responsibilities

• Manage quarterly reporting tasks and ensure deadlines are met.
• Review and own quarterly audit files.
• Provide financial advice to CFOs across entities.

Skills

Insurance accounting

Regulatory reporting

Budgeting

Internal control principles

Communication

Education

Recognised accounting qualification (ICAEW/ICAS/ACCA)

Job description

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About Great Lakes Insurance SE:

As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“ GLLB ”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.

Great Lakes Insurance UK Limited (“ GLLS ”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.

The finance shared services and tax team sits within the wider Finance team, under the remit of the CFO of Great Lakes London and Munich Re UK Services Limited. The team provides services to the Great Lakes entities and also to other Munich Re UK group companies and branches.

About the role:

We are looking for a qualified accountant to lead on closing & reporting matters in the finance shared services team. The closing & reporting team has responsibility for financial reporting (UK GAAP statutory and IFRS reporting into Group) and Solvency II reporting for Munich Re UK Services Limited, and expense/recharge management from Munich Re UK Services Limited to several UK group entities. As part of the team’s expense management work, the role will involve providing key stakeholders, including CFOs, across the entities we look after, with general guidance on finance matters, budgetary advice and advice regarding expense recharges. The team provides accounting services to entities/business units generating c. £3.7bn premium and growing.

Key Responsibilities:

• Provide support to the Head of Finance Shared Services, leading on all closing & reporting matters
• Manage the team’s quarterly reporting tasks, ensuring all deadlines are met and that work is completed to a high standard
• Be responsible for data quality and related quality assurance
• Review and take ownership of the quarterly audit files
• Oversee collaboration with other teams
• Be a key go-to person in the finance team for the CFOs of the various business units, able to provide advice on expense management, budgets and forecasts
• Oversee the annual external audit and manage the relationship with the external auditors
• Present and explain financial results and business performance to senior management and Board members
• Enhance existing reporting processing and improve efficiencies, looking for opportunities to make incremental improvements wherever possible
• Provide guidance, support and appropriate development opportunities for team members

Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.

Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.

Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.

Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.

Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.

Key Skills & Experience:

• Extensive experience of general/insurance accounting and regulatory reporting (IFRS/UK GAAP/Solvency II)
• Experience in guiding/leading staff in a finance department
• Experience of group financial reporting requirements
• Sound knowledge of finance, reporting, accounting, budgeting and internal control principles
• Experience in communicating to senior management, internal and external clients

Qualifications and Educational Requirements:

• Recognised accounting qualification (ICAEW/ICAS/ACCA, etc)

You are aware of your role (as a leader) in being able to influence your team structure and culture to promote principles of diversity and inclusion.

You strive to continuously educate yourself on best practice for inclusive leadership.

You demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You support a culture in which high ethical conduct is recognised, valued and embodied by all

You treat everyone fairly and with respect.

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the closing & reporting manager is also responsible for:

• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• 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.