Temporary Underwriting Accounting Implementation Manager

Innovation Group; City of Westminster; On-site; GBP 70,000 - 90,000; Full time

Job summary

A major insurance company is seeking an Underwriting Finance Implementation Manager to play a pivotal role in implementing a new insurance calculation engine. The successful candidate will collaborate with various teams to design, build, and test the new system, making a significant impact on the business. A strong background in insurance accounting concepts and experience with Phinsys tools are essential. This role offers an exciting opportunity for career advancement in a dynamic environment.

Qualifications

• Strong knowledge of accounting concepts surrounding insurance, including UK GAAP.
• Experience in implementing insurance calculation engine tools, especially Phinsys.
• Ability to manage own workload and deliver high-quality results.

Responsibilities

• Support the Underwriting Accounting Manager with the design and build of the Phinsys products.
• Lead the testing and SIT phases of the project.
• Identify automations and efficiency improvements in earnings engine inputs and outputs.

Skills

Knowledge of accounting concepts surrounding insurance

Strong knowledge of insurance calculation engine tools

Advanced Excel functionality

Data analysis tools and techniques

Education

Educated to a good overall standard

Qualified accountant preferable (ACA/ACCA/CIMA)

Tools

Phinsys suite of insurance finance modules

MS SQL

PowerPivot

Power Query

Job description

Overview

As the Underwriting Finance Implementation Manager in our Underwriting Accounting you'll play a key role in implementing Ki Syndicate 1618's new insurance calculation engine. The implementation will be supported by a third-party vendor and will replace the current earnings engine for the Syndicate. You'll work closely with the Underwriting Accounting Manager, the project team and collaborate with other departments to assist in the design, build and testing of the new system through to the project go live. This is an exciting opportunity for someone looking to take their career to the next level and develop their technical and system skills. With a solid understanding of our processes and applications, you'll have the opportunity to grow and make a real impact on our business.

Responsibilities

• Support the Underwriting Accounting Manager with the design and build of the Phinsys suite of products, including analysis and recommendation of how the Phinsys modules should interact with other systems within the Ki data architecture.
• Provide input and analysis into the calculation sequences to be built within Phinsys to derive the Syndicate underwriting result under GAAP and the QMB.
• Lead all elements of the testing and SIT phases of the project, bridging differences and reconciling between actual reported periods in the AA model and their equivalents in Phinsys.
• Lead the development of all working files within the Underwriting Accounting team that use output from the AA model/Finance reporting tool and reconnect them to the Phinsys outputs.
• Design the SoX controls that govern the current underwriting result production process from the Phinsys output, and work with the internal controls team to implement these or justify why controls are no longer required.
• Liaise with other departments to support production, development and reconciliation of inputs feeding all earnings engine processes.
• Support the Underwriting Accounting Manager in the transfer of the Solvency II process from the finance AA model into the Actuarial tool, Psicle.
• Identify automations and efficiency improvements in earnings engine inputs and outputs, and liaise with Ki/Fairfax teams regarding their implementation.
• Identify and implement improvements in our analytics suite.
• Identify process improvement opportunities from the current process while designing/building the Phinsys rules.
• Support ad hoc requests for information on the aim, scope and approach taken on the Phinsys project.
• Assist the wider Finance Function with mapping from the AA model/Finance reporting tool into the new suite of metrics reportable from Phinsys/Finance reporting tool.

Qualifications & Competencies

• Technical Skills
• Strong knowledge of accounting concepts surrounding insurance, including UK GAAP and Lloyd's regulatory returns.
• Strong knowledge of insurance calculation engine tools and preferably prior experience in implementing one, especially Phinsys.
• Advanced Excel functionality
• Data analysis tools and techniques
• Knowledge of the Phinsys suite of insurance finance modules would be preferable.
• Intermediate knowledge of MS SQL would be valuable but not essential
• Knowledge of PowerPivot and Power Query is preferable but not essential.
• Competencies
• Consistently deliver high quality results, on time and within budget.
• Effective time management, ability to manage own workload appropriately.
• Effective communication/influencing skills across the organisation.
• Builds and maintains effective working relationships across the organisation.
• Multi-task oriented and flexible when working on several activities simultaneously.
• Self-motivation, strong work ethic.
• Attention to detail / analytical skills.
• Strong knowledge retention.
• Ability to consistently lead and participate in meetings effectively
• Ability to pick up new systems and processes quickly.
• Business & Educational Experience
• The London Insurance Market, preferably Lloyd's
• Experience of working in a team and as an individual
• Educated to a good overall standard, with good overall pass grades
• Qualified accountant preferable (ACA/ACCA/CIMA) but not essential

Regulatory Conduct and Values

Regulatory Conduct and Rules: Act with integrity; act with due skill, care and diligence; be open and cooperative with Lloyd\'s, the FCA, the PRA, and other regulators; pay due regard to the interests of customers and treat them fairly; observe proper standards of market conduct; act to deliver good outcomes for retail customers.

Ki Values: Know Your Customer; Grow Together; Embrace diverse perspectives to develop and grow together.