Junior FP&A Analyst

Westfield Specialty; London; On-site; GBP 45,000 - 60,000; Full time

Job summary

A leading company in the insurance sector is seeking a dedicated FP&A Analyst to support the Financial Planning & Analysis team. The role involves managing premium close processes, conducting variance analysis, and collaborating with various stakeholders to enhance reporting and decision-making. Ideal candidates will have a strong analytical background, experience in insurance, and proficiency in Microsoft Office and planning tools. This is an exciting opportunity to contribute to a dynamic team in a fast-paced environment.

Qualifications

• Experience in insurance business essential.
• Part Qualified accountant (ACA, ACCA, CIMA) preferred.

Responsibilities

• Support FP&A team with monthly premium close process.
• Responsible for running monthly premium tracking and analysis.
• Assist with production of GAAP premium data.

Skills

Analytical

Effective communication

Flexible and committed

Thorough / methodical

Inquisitive mindset

Education

Relevant University discipline in Accounting, Business or Economics

Tools

Microsoft Office

IBM Cognos TM1

Oracle

Job description

Key responsibilities- supporting the FP&A team with the following:

Management Information & Analysis:

• Monthly Premium Close Process
• Responsible for running the monthly premium close (FP&A process)
• Analytical review of monthly premium variances against plan and prior year, highlighting variances with key stakeholders (including underwriting and operations teams)
• Prepare the monthly premium tracking against plan and prior year for reporting and analysis
• Update the GAAP PowerBI Dashboard for monthly/quarterly reporting
• Production of Class of Business (COB) reporting and Actuarial Early Forecast Process (including GAAP income statements and actual v plan commentaries)
• Other ad hoc Management Information and analysis as required

Planning & Forecasting:

• Syndicate Business Forecast (SBF) Process
• Distribution of Underwriting Premium and Commission Templates
• Liaising and reviewing the completion of accurate Underwriting Premium and Commission templates, including version control
• Collating Expense Class of Business allocations from divisional underwriting heads, and collaborating with Expense Reporting Manager
• Risk Code analysis to ensure business opportunities can be underwritten
• GAAP Planning packs – production and review for errors and omissions

Financial Reporting support

• Using the Finance Data Store to extract and manipulate data for regular quarterly reporting and ad-hoc data requests
• Assist with the production of the written & earned GAAP premium data as part of the monthly & quarterly close process
• Analysis tables for Report and Accounts
• Client assistance schedules for external auditors

Responsibilities

Required Experience

• Analytical - ability to analyse and manipulate large data sets, and understand and provide analysis of variances against plan and prior year
• Flexible and committed – consistently able to deliver under tight deadlines
• Thorough / methodical - consistent high quality reliable output
• Inquisitive mindset – demonstrates curiosity and a proactive approach to understanding business drivers, continuously seeking opportunities to enhance reporting, processes, and decision-making.
• Effective communication and presentation skills including the ability to interact effectively with different stakeholders
• Systems – Microsoft Office (essential), with experience with IBM Cognos TM1 planning/forecasting model (or similar) and Oracle being desirable.
• Insurance business knowledge/experience essential
• Lloyd’s experience desirable
• Experience working with a US head-office desirable
• Prior experience in a business facing role desirable – specifically liaison with underwriting teams to identify and analyse plans, expectations, patterns and trends
• Relevant University discipline in Accounting, Business or Economics
• Early stages or Part Qualified accountant (ACA, ACCA, CIMA)