Finance Accountant

Pension Insurance Corporation plc; London; On-site; GBP 45,000 - 60,000; Full time

Job summary

A leading company in the insurance sector is seeking a Finance Accountant to join their Accounting & Finance Control team. The role involves preparing financial information related to reinsurance, supporting month-end closing, and maintaining IFRS 17 accounting models. Candidates should be qualified accountants with strong analytical skills and experience in financial services. The company offers competitive salary, performance-related bonuses, and comprehensive benefits.

Benefits

Private Medical Insurance

28 Days Annual Leave

Generous Pension Scheme

Qualifications

• Post-qualification accounting experience required.
• Experience in financial services, ideally in insurance or Big 4.

Responsibilities

• Prepare month-end information related to reinsurance transactions.
• Conduct analytical reviews of movements in reinsurance balances.
• Maintain and update IFRS 17 accounting models.

Skills

Problem-Solving

Organizational Skills

Analytical Skills

Education

Qualified Accountant

Tools

Oracle

Microsoft Excel

Job description

Pension Insurance Corporation ("PIC") provides secure retirement incomes through comprehensive risk management, excellence in asset and liability management, and exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve this by setting company-wide strategic objectives and fostering a culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for a Finance Accountant to join its Accounting & Finance Control team. In this role, you will be responsible for preparing reinsurance-related financial information and supporting Senior Finance Accountants in effective month-end closing, with a focus on IFRS 17 accounting and reporting.

Key Responsibilities:

• Prepare month-end information related to reinsurance transactions, journals, reconciliations, data entry, and other general ledger and financial records for the Group, including P&L and Balance Sheet on IFRS and Solvency II basis.
• Ensure timely completion of reinsurance-related balance sheet reconciliations in accordance with the month-end timetable.
• Conduct analytical reviews of movements in reinsurance balances.
• Maintain and update IFRS 17 accounting models for the finance close process, including supporting IFRS 17 system operations.
• Perform daily reconciliation of reinsurance accounts and manage control accounts.
• Investigate issues arising from transactions and reconciliation discrepancies with relevant teams.
• Support other accounting tasks to facilitate the month-end closing process.
• Assist the Senior Finance Accountant in preparing and maintaining reconciliation files for all General Ledgers in Oracle, covering IFRS and Solvency II.
• Liaise with external auditors as required.
• Maintain effective accounting controls to ensure accurate month-end information.
• Participate in ad-hoc projects and perform User Acceptance Testing as needed.

Requirements:

Skills:

• Qualified accountant
• Strong accounting and problem-solving skills
• Ability to analyze large data volumes
• Excellent organizational skills to meet tight deadlines
• Ability to work within established procedures as recommended by functional teams

Knowledge:

• Solid understanding of accounting processes and controls
• Proficiency with accounting ledger systems such as Oracle
• Strong skills in Microsoft Office, especially Excel
• Knowledge of IFRS and its application
• Understanding of PRA reporting requirements

Experience:

• Post-qualification accounting experience
• Experience in entity and group accounting within financial services, ideally in insurance or within a Big 4 environment
• Experience in process improvement and simplification

Benefits:

Alongside a competitive salary and performance-related bonus, benefits include private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme, and more.