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Financial Controller
The role holder will lead MSIG UK’s Financial Accounting & Reporting function, with full responsibility for delivering accurate, timely and compliant financial results across statutory, management, and group reporting. Reporting to the Chief Financial Officer, this role will shape and execute a forward-thinking financial control and reporting strategy that positions MSIG UK as a leading, well-governed insurer in the London Market.
Responsibilities
Financial Accounting and Reporting
- Lead the production of monthly management accounts, providing analysis of actual performance against budget, and explaining drivers of key variances
- Present monthly financial results to the Finance and Executive Committees
- Control financial ledgers and monthly close
- Oversee all aspects of insurance and reinsurance accounting, with full ownership of premium debtor and reinsurance creditor reconciliations
- Lead the preparation and completion of statutory financial statements under FRS 102 and FRS 103
- Lead the external audit process as the key contact for the external audit team, setting and agreeing timelines, overseeing the timely provision of information by the finance team, and responding and resolving external audit queries
- Lead the preparation of quarterly results on an IFRS 17 basis for Tokyo head office reporting purposes for inclusion in the consolidated group result. Respond to queries and maintaining a strong working relationship with head office
- Convert business plans and reforecasts to an IFRS 17 basis for submission to Tokyo head office, ensuring alignment with group reporting requirements and consistency with quarterly head office reporting
- Responsible for completing the reforecasting process, working with other departments to ensure forecasts reflect the latest expectations
Actuarial Collaboration and Technical Provisions
- Collaborate with the actuarial team on quarterly reserving and provision of financial data for the calculation of IBNR reserves and Solvency UK Technical Provisions.
- Ensure the integrity and delivery of financial data required for the actuarial calculation of IBNR reserves and Solvency UK Technical Provisions.
- Member of the Reserving Committee for review and approval of quarterly IBNR reserves and Solvency UK Technical Provisions
- Calculate reserves on an IFRS 17 basis and present them at the Reserving Committee.
Regulatory Compliance and Solvency UK
- Responsible for the production and submission of Solvency UK financial regulatory returns
- Manage and submit regulatory returns for international regulators including NAIC and NCID
Financial Control
- Maintain internal control framework and completing quarterly controls attestations, confirming the design and operational effectiveness of key controls, ensuring that financial and operational risks are reduced to an acceptable level.
- Monitor currency exposures relative to risk appetite and ensure any surplus or deficit positions are addressed.
- Work with other departments to improve upstream data quality.
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Management and Team Development
- Lead, mentor, and develop a team of financial accountants and trainees, ensuring strong technical knowledge and a maintain a culture of continuous improvement.
- Set objectives, allocate work, and provide coaching, feedback, and development opportunities to support high performance across the team.
Systems and Transformation
- Responsible for successful delivery of finance aspects of transformation projects, ensuring finance requirements are met and successfully implemented.
- Support the development, enhancement, and optimisation of finance systems, processes, and reporting tools.
Required Skills and Qualifications
- Qualified accountant (ACA, ACCA or CIMA) with ten years post-qualification experience
- Proven expertise in financial reporting across statutory, management and group reporting, including IFRS and IFRS 17
- Strong understanding of Solvency UK regulatory returns and prudential reporting requirements.
- Experience collaborating with actuarial teams on reserving, technical provisions, and data integrity.
- Demonstrated capability in financial control, internal controls, and risk-aligned governance.
- Skilled in finance systems, process improvement and supporting transformation initiatives.
- Strong analytical skills with the ability to interpret financial results, variances and performance drivers
- Effective communicator able to present complex financial information to senior committees and stakeholders
- Proven ability to lead and develop finance teams, fostering technical excellence and continuous improvement
- Experience working in a London Market or general insurance environment (essential).
What you can expect from us:
- Competitive base salary
- A great team and supportive colleagues
- Hybrid Working environment
- A strong focus on diversity, inclusion and equal opportunities
- A programme of wellbeing and mental health support
- Holiday: 28 days core annual leave
- Pension: 12.5% non-contributory pension contribution
- Private Medical Insurance (family members/dependents can be added)
- Flex Fund: £1,000 (to spend on flexible benefits, including, but not limited to, Dental Care, Holiday Buy, Private GP etc.)
- Life Assurance: 5x annualised base salary
- Continuous Learning Approach: Including study support with professional qualifications.
- Employer Supported Volunteering: 3 days volunteering leave - full pay.
About MSIG UK:
MSIG UK is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company, Ltd (“MSI”) and specialises in providing commercial property, casualty, marine and credit insurance products and services to its clients. MSIG UK is also a member of MS & AD Insurance Group Holdings, Inc, one of the world’s largest general insurers.
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In February 2024, we celebrated 100 years of MSI’s presence in the UK, and our enduring commitment to our UK based insurance and reinsurance clients. As part of this centenary, we rebranded from MSI EU to MSIG UK. This change aligns our UK business with the rest of our parent company’s international network and better leverages the brand value of the MSI name.
Being part of MSI’s international network of companies gives us significant opportunities to help develop and deliver new solutions for clients. The change in trading name also signals a new growth phase for us as we look to build our presence and portfolio in the London Market.
MSIG UK is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
At MSIG UK, we pride ourselves on maintaining a friendly, collaborative, and supportive work environment. Every individual plays a key role in our success by fostering a culture of mutual respect, open communication, and shared achievement. We value integrity, innovation, and a customer-first mindset, ensuring that we deliver high-quality insurance solutions.
Conduct Rules
With the implementation of the SM&CR (Senior Managers & Certification Regime), the Financial Services and Markets Act gave the FCA new powers to write conduct rules and apply them to all employees within a firm. The Conduct Rules set basic standards of good personal conduct. They stipulate that you must:
- Act with integrity
- Act with due care, skill and diligence
- Be open and co-operative with the FCA, 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
We are committed to creating a diverse and inclusive employee experience for all. Our values underpin our culture and influences the way we interact with each other, our clients and our partners – One Team, Client Focus, Our People, Integrity, Openness, Kaizen. We welcome applications from anyone and promote equal opportunities for growth and development regardless of race, gender, religion or belief, sexual orientation, age, disability, or socio-economic background.
This role description outlines the key responsibilities for this role. It complies with the Company’s Code of Ethics and Integrity and Security Policies. It is not an exhaustive list and the role holder should be aware that they may be asked to perform additional duties by their line manager as deemed appropriate.
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