Hiscox
Syndicate Accounting & Reporting Manager (Permanent and FTC)
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Job Type: Permanent
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About Hiscox
As an international specialist insurer, we are far removed from the world of mass insurance products, selectively focusing on key areas of expertise and strength, all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way.
Defined by our strong moral fibre we prioritise above all else the principle of doing what we say we will. Insuring the unique and interesting, our search for talent is the same. We empower our people to think creatively, challenge the status quo and approach things with a solution-focused lens. This results in us being able to provide the type of insurance solutions which are often too complex for other insurance companies; we find a way where others give up.
Our straight-talking culture is not for everyone but allows us to strive to improve everything we do and never settle. Trust is integral to how we operate, and it allows us to work in an environment where every role has a prominent level of autonomy; freedom to forge your path and help set the wider agenda is evident in all parts of the organisation. Through embracing an environment that brings together people who are unique and interesting we are ensuring we build a company where teams do not all think the same – this, combined with a culture where courage to say what you think is not only actively encouraged but is central to our business model has defined our success.
If you thrive in a challenging and collaborative environment where you are trusted to work instinctively and know the company will stretch you to your full potential, look no further.
The Role
Reporting to the Head of Syndicate Accounting and Reporting, you will have a key role in overseeing the full financial controllership duties for our three managed syndicates, managing agent and corporate member. This will include overseeing the whole ledger controllership process, such as reviewing, producing, maintaining, reconciling, and analysing accounting ledgers, followed by financial analytics and business partnership with Business units on KPIs and result management and comprehensive external/internal reporting function. This will require you to communicate and collaborate with different areas of the business such as actuarial, underwriting, risk and compliance, group finance in performing the tasks assigned. Moreover, you will have a role in overseeing Finance projects, including ongoing improvements for IFRS 17, implementation of controls framework, as well as other ad hoc projects when needed. You will also work closely with the Head of Syndicate Accounting and Reporting in building an effective finance function and implementing actions to improve controllership efficiencies in ledger controllership, business partnership, group, and external reporting etc. and in strengthening the syndicate financial control framework.
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The role involves working in a Finance team which has onshore members across two locations in London and Colchester, and an offshore team in India.
Key Responsibilities
- Manage all aspects of the ledger accounting process, which includes preparing the Syndicate accounting ledgers, the managing Agent's ledger, and the corporate member's ledger, and completing the GL Close at the end of every month, quarter, and year.
- Preparing management reports and analysing business unit performance, evaluating how actual and forecast results differ from initial.
- Manage the timely production, review of Lloyd’s quarterly and annual regulatory returns, annual reports and accounts, IFRS statutory reporting with quantitative and qualitative analysis and disclosures.
- Making sure the BU financials are correct in the ledgers and any gaps are quickly reported to BU leads and fixed in time for WDT close.
- Preparing components of Board reporting such as Board papers, CFO & AC packs, and assisting management in presenting HSL finance to the board.
- Preparation and presentation of Lloyds results commentary including BS, P&L and other KPIs for governance committee.
- Ensure the internal deadlines for group financial reporting schedules are met and queries answered in a timely manner.
- Ensuring all technical, non-technical and control account balance sheet reconciliations are prepared and reflect true analysis on the differences if any.
- Managing the service to different stakeholders such as reserving, Syndicate FP&A etc and completing the process handovers/hand backs with various departments accurately as per the schedule.
- Function as a key point of contact for the Syndicate auditors, maintain and develop the relationship, and manage the resolution of audit issues as required.
- Ensuring group accounting policies are adhered while performing the accounting and reconciliations.
- Ensure effective financial control framework is in place and is operating effectively. Timely updating the control framework or introducing new controls where required for the process changes.
- Identify areas for process improvement and follow through to implementation, resulting in a best-in-class Finance function.
- Provide “subject matter expertise” to key strategic and tactical Finance projects, and all finance matters with regards to Syndicate financial reporting.
- Drive the development and implementation of efficient, accurate, controllership processes capable of meeting the demands of an evolving business area.
- Manage, coach, and develop the Syndicate Accounting & Reporting team.
- Work closely with the Head of Syndicate Accounting and Reporting in developing and enhancing the syndicate financial controls, ensuring compliance with the Group’s financial controls framework, and identifying and closing any gaps affecting Syndicate financial reporting.
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Skills / Qualifications / Experience Required
- Significant experience within the Lloyd's market, specifically in syndicate accounting, reporting and regulatory environments.
- Extensive experience of Lloyd's reporting requirements, including oversight of regulatory submissions and reporting processes.
- Proven people leadership experience, with a track record of managing, developing and motivating high-performing teams.
- Experience operating in a management and oversight capacity, providing technical guidance, governance and controls rather than undertaking day-to-day reporting activities.
- Experience working with offshore or distributed teams and building strong relationships with stakeholders across multiple locations. Exposure to outsourced operating models would be advantageous.
- Demonstrated ability to lead teams through change, transformation and evolving operating models.
- Qualified accountant (ACA, ACCA, CIMA or equivalent).
- Degree educated and/or able to demonstrate equivalent relevant experience.
- Excellent IT skills, including experience of accounting ledgers, reporting tools and data analysis/modelling applications.
Preferential / Advantageous
- Prior experience of Lloyds Reporting
- Exposure to IFRS 17, or technical accounting standard
Diversity and flexible working at Hiscox
At Hiscox we care about our people. We hire the best people for the job, and we are committed to diversity and creating a truly inclusive culture, which we believe drives success.
We have also learned over the past few years that working life does not always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work-life balance.
This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.
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