Senior Accountant – Financial Close Processes

AXA UK; London; On-site; GBP 45,000 - 65,000; Full time

Job summary

A leading company in commercial insurance is seeking a Senior Accountant to join their Financial Close team in London. This role involves overseeing key accounting functions related to the financial close process, working closely with various stakeholders, and ensuring compliance with accounting standards. Ideal candidates will bring expertise in insurance technical accounting and strong analytical skills, along with advanced proficiency in Excel and familiarity with financial systems.

Qualifications

• Knowledge and experience in insurance accounting is essential.
• Qualified by experience or recognized accounting qualification.
• Advanced Excel skills required for analysis and data handling.

Responsibilities

• Responsible for the monthly, quarterly, and annual financial close process.
• Coordinate with other teams to ensure efficiency in financial reporting.
• Maintain reconciliations and ensure financial controls and accuracy.

Skills

Insurance technical accounting

Strong organisation

Time management

Communication skills

Data analysis

Excel proficiency

SQL

Alteryx

PowerBI

Education

Qualified Accountant

Tools

Workday

Job description

We are looking for a Senior Accountant to work within our Financial Close team based in London.

Position Summary

The role is responsible for technical accounting and control tasks related to the monthly and quarterly financial close process.The finance close team is responsible for the accounting processes required to produce the underwriting results of the Syndicate and Company operations including premiums, claims, reinsurance and acquisition costs.This includes the production of schedules and reconciliations associated with the close process and the operation of appropriate financial controls. The role will work closely with other functions including Reserving Actuaries, FP&A, Reinsurance, IT and other Finance functions.The role also takes a lead on projects and initiatives to develop and enhance financial systems and processes, including assistance on the development, documentation and maintenance of key financial controls.

Key Responsibilities

• Responsible for various accounting, reconciliation, control and analysis tasks related to the monthly, quarterly and annual technical financial close process. Ensures the accurate and timely completion of the close process in accordance with the group close timetable.
• Works closely with other functions and stakeholders including actuarial, underwriting, ceded reinsurance, and IT to ensure the efficient delivery of the close process. Produce and process technical insurance journal entries for premiums, claims and acquisition costs in both the General Ledger (Workday) and sub systems (Tandem).
• Maintain accounting reconciliations between source systems and the General Ledger.
• Desire to develop knowledge and skills around detailed premium and claims accounting processes in order to become a subject matter expert for Lloyd’s and Company Market businesses.
• Maintain accounting reconciliations to actuarial and other source data for key accounting balances including premiums and claims.
• Produce various accounting and reporting schedules related to the financial close process
• Perform and document financial controls related to the close process and ensure appropriate documentation and support is maintained.
• Review and analyse financial results to ensure accuracy of the underwriting results at an appropriate level of granularity (e.g. branch, line of business, accident year, currency). Assist in the investigation, understanding and resolution of data and accounting related issues.
• Assist the organisation’s external auditors in the provision of information and explanation as required related to technical accounting balances.
• Actively engage in the continued enhancement and development of financial systems and processes, through incremental changes and larger business initiatives.
• Work with IT and 3rd party system vendors on system enhancements and implementations.
• Test enhancements and new functions/process related to financial systems.
• Recommend improvements and efficiencies in the financial systems and close process.
• Work with the Finance team in the head office in Chicago in the provision of information and explanation related to the financial close process.
• Comply with all applicable legal and regulatory requirements and ensure, at a level appropriate to the position, that appropriate measures are in place to ensure this compliance.
• May perform additional duties as assigned.

Skills, Knowledge & Experience

• Knowledge and experience of insurance technical accounting
• Qualified Accountant or qualified by experience
• Experience of Workday or similar general ledger system
• Knowledge of sub ledger accounting systems
• Strong organisation and time management skills
• Ability to work independently and as part of a small team
• Ability to communicate effectively and explain technical issues
• Ability to build relationships with other functional areas of the business
• Ability to work with large datasets in a variety of formats (Excel, SQL, Alteryx, PowerBI)
• Advanced Excel user skills (required)
• Appropriate knowledge of all relevant regulatory and legal requirements applicable to the position

Additional Information

Company Overview

CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We are part of CNA Financial Corp, the 8th largest U.S. commercial property and casualty insurance company. Established in 1897, CNA has approximately 7,000 employees, serving businesses and professionals in the U.S., Canada and Europe. We offer a wide range of products and services, providing a superior suite of insurance solutions that any organisation conducting business requires.

CNA Hardy is an equal opportunity employer.

The Company

CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We offer a highly specialised and comprehensive portfolio of innovative and market leading products. Coverage is available to businesses of all sizes for domestic, international and global exposures.