Finance Accountant

PIC; London; On-site; GBP 40,000 - 70,000; Full time

Job summary

An established industry player seeks a Finance Accountant to join their Accounting & Finance Control team. This role involves preparing month-end financial information, ensuring accurate reinsurance reconciliations, and supporting IFRS17 accounting processes. The company prides itself on its values of resilience, adaptability, and loyalty, fostering a culture where every employee can thrive. As part of this dynamic team, you will engage in various accounting tasks, collaborate with external auditors, and participate in projects that drive efficiency. With a competitive salary and excellent benefits, this opportunity is perfect for those looking to make an impact in the financial services sector.

Benefits

Private Medical Insurance

28 Days Annual Leave

Generous Pension Scheme

Performance-related Bonus Plan

Qualifications

• 2+ years of accounting experience, preferably in financial services or insurance.
• Good knowledge of IFRS and accounting ledger systems.

Responsibilities

• Prepare month-end information related to reinsurance and support financial closing.
• Ensure accuracy in accounting controls and perform reconciliations.

Skills

Accounting Processes

Financial Reporting

Analytical Skills

Reconciliation

IFRS Knowledge

Problem Solving

Education

Bachelor's Degree in Accounting or Finance

Tools

Oracle

Microsoft Excel

Job description

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

Overall responsibility for preparation of reinsurance related financial information and supporting Senior Finance Accountants for effective month-end closing, with a focus on IFRS17 accounting and reporting.

Our Company values are expected to be reflected in the delivery and performance of every role

Specific accountabilities assigned to the role of Finance Accountant within the Accounting & Finance Control team:

• Responsible for the preparation of month-end information relating to reinsurance (transactions, journals, reconciliations, data entry and all other information that may be required in the general ledger and financial records) of the Group including P&L and Balance Sheet on IFRS and Solvency II basis
• Ensuring that reinsurance related balance sheet reconciliations are completed and follows the month-end timetable
• Perform analytical review of movements in reinsurance balances
• Prepare and update IFRS17 accounting models for finance close process, including support the preparation and running of IFRS17 systems
• Perform daily reinsurance reconciliation and management of control account
• Investigate any issues arising from day-to-day transactions and reconciliation differences with relevant teams
• Other accounting tasks to support the effective month end closing accounting process.
• Support the Senior Finance Accountant prepare and maintain the overall reconciliation files for all the General Ledgers in Oracle for both IFRS and Solvency II.
• Liaising with external auditors as required
• Ensuring efficient and effective accounting controls are maintained to deliver month-end information with accuracy
• Participate in ad-hoc change projects and perform User Acceptance Testing, where necessary.

Knowledge

• Good knowledge of accounting processes and controls
• Good working knowledge of accounting ledger systems e.g. Oracle
• Good working knowledge of Microsoft Office package – especially Excel
• Familiar with International Financial Reporting Standards (IFRS) and its application
• Good knowledge of PRA reporting requirements

Experience

• 2+ years of accounting experience
• Experience in entity and group accounting within financial services (preferred), ideally within insurance industry or similar within a big 4 accounting environment
• Experience in taking on existing processes and improve/simplify

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.