Reinsurance Account Manager

Direct Line Group Careers; Leeds; Hybrid; GBP 45,000 - 65,000; Full time

Job summary

A leading insurance provider is seeking an Accounting Manager for their Re-Insurance team in Leeds or London. This role involves validating finance journals, collaborating with partners, and managing financial reporting. Ideal candidates will have an accounting qualification and reinsurance experience. The company offers a hybrid working model with excellent benefits including a pension scheme, performance-related bonus, and generous holidays.

Benefits

9% employer contributed pension

Annual performance related bonus up to 10%

50% off home, motor and pet insurance

Additional optional Health and Dental insurance

Generous holidays

Qualifications

• Experience in reinsurance accounting is essential.
• Technical expertise in IFRS17, IAS 38, IAS 16, IAS 36.
• Strong proficiency in reconciliation and substantiation.

Responsibilities

• Validate, post, and review finance journals for accuracy.
• Collaborate with outsourced partners on SLAs.
• Review financial statements and analyze key movements.
• Provide support to the Reinsurance team with reporting.
• Identify and manage financial risks.

Skills

Reinsurance accounting

Financial modelling

Effective communication

Education

Accountant qualification (ACA, ACCA, CIMA)

Tools

Microsoft Excel

Oracle Financials

Cognos TM1

Job description

Accounting Manager Re-Insurance

London or Leeds

Direct Line is evolving. Across every part of our business, teams are embracing new opportunities and putting customers at the heart of everything they do. Whether you're already part of Direct Line or thinking about joining us, you'll have the chance not only to be recognised for your skills, but also to build on them and be empowered to do your very best.

What you'll be doing

• Validate, post, and review technical finance journals, ensuring accuracy in line with controls. Specific accountability for our Excess of Loss and various Quotashare treaties.
• Collaborate with Outsourced Partners: Work alongside the Production and Control Senior Lead to manage SLAs and build productive workflows with our outsourced finance partner, focusing on approval and exception matrices.
• Month-End Optimisation: Challenge and refine month-end processes, identifying improvements in timelines and accuracy of financial reinsurance accounting entries in line with the Group’s Accounting Policies.
• Balance Sheet & Financial Reporting: Review legal entity and consolidated financial statements. Analyse key movements, prepare monthly reporting, and ensure accuracy in reconciliations.
• Provide support to our Reinsurance team: including periodic external reporting to brokers and reinsurers, debt management and new treaty purchases
• Risk Management & Audit Support: Proactively identify and manage financial risks, collaborating with internal and external auditors to maintain robust control over our financial records.
• Project Collaboration: Support Finance-wide projects by sharing technical expertise in financial reinsurance processes, accounting standards, and best practices, especially during the testing and implementation of new systems.

Our hybrid model offers a 'best of both worlds' approach. When you'll be in the office depends on your role and team, but colleagues spend at least 2 days a week in the office

What you'll need

• Accountant qualification (ACA, ACCA, CIMA), skilled at approaching financial reinsurance accounting issues creatively to deliver new solutions.
• Technical Expertise: Reinsurance experience essential and knowledge of IFRS17 preferred, with strong proficiency in IAS 38, IAS 16, and IAS 36, as well as substantial experience in reconciliation and substantiation.
• Proficient in Microsoft Excel for financial modelling; experience with Oracle Financials and Cognos TM1 is a plus.
• Effective Communicator: Comfortable building relationships, sharing ideas, and collaborating with both onshore and offshore teams to reach resolutions.

Benefits

We recognise we wouldn't be where we are today without our colleagues, that's why we offer excellent benefits designed to suit your lifestyle:

• 9% employer contributed pension
• Annual performance related bonus – of up to 10%, dependent on personal and company performance
• 50% off home, motor and pet insurance plus free Green Flag breakdown cover
• Additional optional Health and Dental insurance
• EV car scheme
• Generous holidays
• Buy as you earn share scheme
• Employee discounts and cashback
• Plus, many more

We want everyone to get the most out of their time at Direct Line. Which is why we've looked beyond the financial rewards and created an offer that takes your whole life into account. Supporting our people to work at their best – whatever that looks like — and offering real choice, flexibility, and a greater work-life balance that means our people have time to focus on the things that matter most to them. Our benefits are about more than just the money you earn. They're about recognising who you are and the life you live.

Be yourself

Direct Line is an equal opportunity employer, and we think diversity of background and thinking is a big strength in our people. We're delighted to feature as one of the UK's Top 50 Inclusive Employers and are committed to making our business an inclusive place to work, where everyone can be themselves and succeed in their careers.

We know you're more than a CV, and the things that make you, you, are what bring potential to our business. We recognise and embrace people that work in different ways so if you need any adjustments to our recruitment process, please speak to the recruitment team who will be happy to support you.