Munich Re Specialty
Financial Accountant
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Financial Accountant
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this. At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.
We are looking for a Financial Accountant
We are looking for a Financial Accountant to join our London Office on a 12 Month Fixed-term contract.
The Financial Accountant will ensure the accurate production of the UK GAAP and IFRS technical result for the Group's Lloyds Syndicate and reporting to Group, focusing on completeness and compliance with standards. They will analyse financial data inputs for reliability, enhance processes and controls, and drive improvements in efficiency and accuracy. The role also involves providing best practices guidance and collaborating with Finance, Actuarial, IT, and Underwriting teams to support continuous departmental improvements.
They will support the Global Specialty Insurance divisions delivery of Project Fusion, the implementation of a new Finance Data Layer and a new technical subledger that will produce monthly management reporting, quarterly UK GAAP technical result, provide inputs for local regulatory and statutory reporting requirements, and provide data inputs to the Group’s IFRS 17 calculation engine.
Responsibilities
- Lead role in producing the UK GAAP and IFRS technical result, ensuring strict compliance with accounting standards and regulatory requirements.
- Deliver detailed analytical analysis of the financial result, providing critical insights and guidance to the Financial Performance & Analysis teams of the key drivers of the financial performance and comparisons to the Syndicate Business Forecast.
- Provide technical guidance and support to the Regulatory Reporting teams to assist their production of the statutory accounts and Lloyds returns, providing commentary and explanations of the business performance and balance sheet movements.
- Lead efforts to ensure data integrity and completeness throughout the financial production process by performing comprehensive checks, validations, reconciliations, and corrective actions, ensuring accuracy from source systems to final outputs.
- Provide support to the GSI Project Fusion team, assist with historical data conversion, SIT, and UAT as required.
- Act as a Subject Matter Expert (SME) for ongoing change and transformation initiatives, driving projects aimed at modernizing source systems and strengthening data integrity.
- Build and maintain strong relationships with Finance, Actuarial, IT, and Underwriting teams to improve financial data quality and reporting accuracy through effective collaboration.
- Support the Head of UKGAAP/IFRS17 Reporting as needed.
- Help drive forward good Conduct for the business to deliver the best outcomes for customers/policyholders.
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Knowledge and Skills
- Qualified accountant, with knowledge of the principles of both UK GAAP and IFRS.
- Insurance industry experience with knowledge of the principles of insurance and reinsurance.
- Strong financial modelling and variance analysis skills.
- Strong Excel skills with exposure to large data models.
- Strong verbal and written communication skills to articulate insights.
- Strong problem-solving attitude to address challenges in data quality and control effectiveness.
- Strong organizational skills and ability to prioritize and multi-task work.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
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Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognize diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets, our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social, and governance topics, including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Benefits
- 25 days Annual Leave + bank holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set-up Support
#BePresent #BeBold #BeCurious
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