Financial Controller

Michael Page (UK); City Of London; Hybrid; GBP 60,000 - 90,000; Full time

Job summary

A leading insurance broker is seeking a Financial Controller to lead their IBA accounting team. The successful candidate will manage audit processes, ensure FCA compliance, and drive continuous improvement in accounting procedures. This role offers a competitive salary, a comprehensive benefits package, and a flexible hybrid working arrangement.

Benefits

Competitive salary

Discretionary annual bonus

Comprehensive benefits package

35-hour workweek

Flexible hybrid working arrangement

Qualifications

• 5+ years of PQE required.
• Strong knowledge of Lloyds, LIRMA, and LIU markets.
• Knowledge of regulatory and FCA reporting requirements.

Responsibilities

• Management of the department and team of credit controllers.
• Ensure compliance with FCA regulations.
• Produce aged debt reports and reconciliations.

Skills

Team Management

Analytical Skills

Problem-Solving Skills

Excel

Education

ACA

ACCA

CIMA

Job description

Financial Controller opportunity for a London Markets Insurance business.

Lead and take ownership of the IBA accounting team of this insurance company.

About Our Client

Our client is a small to mid-sized insurance broker with a strong presence in the UK market. They are committed to delivering exceptional services and maintaining high standards in their industry.

Job Description

Your role as the FC will be to manage the department including a team of credit controllers, treasury assistants, and insurer reconciliations clerks.

• Responsible for the annual client money audit and be the key contact for all audit liaison.
• Ensure full compliance within FCA regulations - mitigate exposure to CASS 5 breaches.
• Continuous improvement and documentation of IBA controls and procedures.
• Review/perform client money calculations in accordance with CASS 5.
• Review bank reconciliations for the various IBA bank accounts.
• Chair monthly meetings to discuss all aspects of IBA, e.g., aged debt, unallocated cash, bad debts, funding.
• Responsible for producing detailed aged debt reports in accordance with month-end timetable.
• Responsible for producing client-by-client reconciliations as per audit and annual requirements.
• Responsible for balance sheet reconciliations for all IBA balances.
• Ensure ongoing completeness and integrity of data produced by the insurance system.
• Ensure prompt month-end close.
• Assist the team in managing complex client ledgers.
• Ensure timely collection of monies and payments to underwriters.
• Manage projects, including legacy balances.
• Match and resolve unallocated cash and claims balances.
• Ensure monthly broker statements are sent out timely.
• Lead the implementation of a new insurance system.
• Establish good relationships with external brokers.

The Successful Applicant

The ideal candidate will have:

• Strong insurance sector experience and knowledge of Lloyds, LIRMA, and LIU markets.
• Qualified in ACA, ACCA, or CIMA with at least 5+ years of PQE.
• Excellent team management skills.
• Knowledge of regulatory and FCA reporting requirements.
• Strong analytical and problem-solving skills.
• Excellent Excel skills, especially handling large data sets.

What's on Offer

• Competitive salary
• Discretionary annual bonus
• Comprehensive benefits package
• 35-hour workweek
• Flexible hybrid working arrangement