External Financial Reporting Manager

ERGO TIS; London; On-site; GBP 60,000 - 80,000; Full time

Job summary

Join a dynamic Managing General Agent in the UK insurance market as an External Financial Reporting Manager. This role involves key responsibilities in forecasting, financial reporting, and data analysis within a robust control environment. The company emphasizes innovation and tailored insurance solutions, providing a unique opportunity for career growth in a diverse workplace.

Qualifications

• Experience in insurance product lifecycle essential.
• Strong analytical skills and attention to detail.
• Ability to challenge and improve reporting processes.

Responsibilities

• Management of mid-term business planning and forecasting.
• Ownership of external reporting timelines and reconciliation of data.
• Reporting performance to governance committees and stakeholders.

Skills

Forecasting

Data Analysis

Financial Reporting

Control Environment

Education

Degree in Finance or equivalent

Knowledge of IFRS 17

Tools

Excel

Job description

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About Us

We are a dynamic and growing Managing General Agent (MGA) operating in the UK insurance market, specialising in travel, gadget, and pet insurance. With a strong emphasis on innovation, customer experience, and agile product delivery, we work closely with our partners to provide tailored insurance solutions.

Job DescriptionAbout Us

We are a dynamic and growing Managing General Agent (MGA) operating in the UK insurance market, specialising in travel, gadget, and pet insurance. With a strong emphasis on innovation, customer experience, and agile product delivery, we work closely with our partners to provide tailored insurance solutions.

Role Overview
This role requires liaising across the ERGO and Great Lakes (Munich Re) entities, and any other reinsurers, to ensure the forecasts delivered to and from each party align to those provided by the MGA.

Key Responsibilities:

Forecasting planning and analysis

• Management of the mid-term business planning process and reforecast of plan as and when required by head office.
• Responsible for the Technical P&L forecast to insurer and the MGA business plan:
• Reviewing the quarterly roll forward and update of the forecast data sets for the Capacity’s GAAP position, Reinsurer treaties and MGA results
• Analysis of result by segment/ business stream (our MGU partners), as early warning indicator of deviation from plan
• Review of Branch and MGA actual result (expenses and commissions)
• Responsible for the Technical P&L forecast to our insurer and the MGA business plan
• Monitor scheme performance against plan with a view to reporting any deviation above target loss ratio
• Liaising with client account manager and underwriters for performance benchmarking to plan
• Commentary to head office on the forecasts and actual performance
• Attendance at Head Office/ Capacity meetings to discuss the forecast results
• Report writing for various governance committees regarding monthly/ quarterly/ annual forecast to actual performance of the MGA and Group

Operational

• Ownership of external reporting timetable
• Monitoring reconciliation of data from MGA monthly bordereaux to capacity quarterly actuals, and using actual performance to reforecast the remainder of the calendar year/ treaty
• Review and sign off on treaty numbers and treaty allocations (profit share/ LoB splits)
• Maintenance of robust control environment

What We’re Looking For:
Required

• Ability to review and challenge data
• Confident in building/ maintaining robust control environment
• Firm understanding of the insurance product life cycle
• Intermediate Office skills (Excel focus)
• Ability to recognised control deficits and work to strengthen those around the reporting environment reducing inherent risk to the business

Advantageous

• Ability to input into the MGA’s digital journey, specifically:
• Input into any system/ process to streamline and automate processes
• Assist in automation of treaty and bordereaux data
• Working knowledge of IFRS 17 helpful but we shall be providing training

ERGO is an equal opportunity employer and is committed to creating a diverse and inclusive workplace. We ensure that all employees and job applicants are treated fairly and equally, regardless of age, disability, gender reassignment, marriage or civil partnership, pregnancy or maternity, race, religion or belief, sex, sexual orientation, part-time status, or trade union activities.
We do not tolerate any form of discrimination in any aspect of employment, including recruitment, benefits, training, promotion, pay, or dismissal. If you believe you have been treated unfairly or discriminated against, please report the issue to your manager for investigation. We are committed to providing reasonable adjustments for individuals with disabilities as per the Equality Act 2010.

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Contract

Job function

• Job function

  Finance

• Industries

  Hospitals and Health Care, Non-profit Organizations, and Government Administration

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