Temporary Underwriting Accounting Implementation Manager

Innovation Group; London; On-site; GBP 55,000 - 75,000; Full time

Job summary

A leading insurance company in London seeks a Temporary Underwriting Accounting Implementation Manager to implement a new insurance calculation engine. You'll collaborate with various departments to enhance processes and ensure accuracy in reporting. Ideal candidates have strong knowledge in insurance accounting and relevant technical skills. This role offers opportunities for professional development and significant contributions to the company's innovative projects.

Qualifications

• Experience in insurance accounting and UK GAAP regulations.
• Prior experience in implementing insurance calculation engines, preferably Phinsys.
• Strong analytical skills and attention to detail.

Responsibilities

• Implement Ki Syndicate 1618's new insurance calculation engine.
• Design and build the Phinsys suite of products.
• Lead testing and SIT phases, ensuring data accuracy.

Skills

Accounting concepts knowledge

Insurance calculation engine experience

Advanced Excel

Data analysis tools

Education

Qualified accountant (ACA/ACCA/CIMA)

Tools

Phinsys suite knowledge

MS SQL

PowerPivot

Power Query

Job description

Overview

Please visit our careers site to find out more about working at Ki.

Job Details: Temporary Underwriting Accounting Implementation Manager

Location: London

Role Details

Division: Finance
Reports to: Underwriting Accounting Manager

Ki insures on the cutting edge of space, wind, sport, and travel. Ki aims to digitally disrupt and revolutionise a 335-year-old market. Working with Google and UCL, Ki has created a platform that uses algorithms, machine learning and large language models to give insurance quotes in seconds.

Ki is the largest global algorithmic insurance carrier and is the fastest growing syndicate in Lloyd’s of London. It is the first to reach $100m in profit in 3 years. Ki operates with cross-functional, agile teams to deliver the best experience for customers. Ki seeks excellent minds to challenge the status quo and help reach new horizons.

Purpose of the Job

As the Underwriting Finance Implementation Manager in our Underwriting Accounting team, you will help implement 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 will work closely with the Underwriting Accounting Manager, the project team and collaborate with other departments to design, build and test the new system through to go-live. This role offers an opportunity to develop technical and system skills with a solid understanding of our processes and applications.

Principal Accountabilities

• Support the Underwriting Accounting Manager with the design and build of the Phinsys suite of products, analysing how 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 testing and SIT phases, 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 Phinsys outputs.
• Design the SoX controls that govern the current underwriting result production process from the Phinsys output, working with the internal controls team to implement or justify why controls are not required.
• Liaise with other departments to support production, development and reconciliation of inputs that feed all earnings engine processes.
• Support the Underwriting Accounting Manager in transferring the Solvency II process from the finance AA model into the Actuarial tool, Psicle.
• Identify automations and efficiency improvements in all earnings engine inputs and outputs, liaising with relevant Ki/Fairfax teams as applicable.
• Identify and implement improvements in our analytics suite.
• Identify process improvement opportunities from the current process while designing/buiding 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 to the new suite of metrics reportable from Phinsys/Finance reporting tool.

Education, Qualifications, Knowledge, Skills and Experience

A successful candidate will have:

• 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.
• Excel functionality to an advanced user level
• 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 is 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, and 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 Rules

1. Act with integrity
2. Act with due skill, care and diligence
3. Be open and cooperative with Lloyd’s, the FCA, the PRA, and other regulators
4. Pay due regard to the interests of customers and treat them fairly
5. Observe proper standards of market conduct
6. Act to deliver good outcomes for retail customers

Ki Values

• Know Your Customer: Put yourself in their shoes. Understand and balance the different needs of our customers, acting with integrity and empathy to create something excellent.
• Grow Together: Empower each other to succeed. Recognise the work of our teams, while celebrating individual success. Embrace diverse perspectives so we can develop and grow together.
• Be Courageous: Think big, push boundaries. Don’t be afraid to fail because that’s how we learn. Test, adapt, improve - always strive to be better.