Syndicate Financial Controller

Department: Managing Agency

Employment Type: Permanent

Location: London

Description

The Syndicate Financial Controller (“SFC”) manages all aspects of the reporting and accounting for two to three of PMA’s managed syndicates. The responsibilities involve controlling the production of GAAP accounts, Lloyds regulatory returns, and external reporting for the Syndicate Management Committees and Audit Committee and maintaining an effective control environment.

This is a client-facing role; Polo Managing Agency is a Third-party Managing Agency, managing syndicates on behalf of third-party capital providers. The role requires a deep knowledge of insurance accounting and Lloyd’s reporting.

This role requires liaison across several divisions of the Polo group to facilitate the timely production of accurate financial information and working in a growing company and in a change-focused environment.

The role will be supported by a Syndicate accountant in London and a team of accountants based in Cheltenham who are primarily responsible for compiling and producing the syndicate financial and regulatory reports.

Key Responsibilities

• Manage all aspects of the Polo managed syndicate’s reporting and accounting.
• Assist in onboarding new syndicates, and potentially helping syndicates migrate to their own Managing Agent (if that is their longer-term strategy)
• Review and recommend for submission all Lloyd’s quarterly and annual regulatory returns.
• Standardization of external reporting; Review/approval of CFO/FD/Finance reports, Audit Committee Financial Reports.
• Effectively manage the quarterly close process and reporting requirements, and in doing so, manage, execute, and dictate process, timetables, and deliverables to all stakeholders – internally and externally.
• Manage the external audit timetable and process across all departments that contribute to the audit client schedule list. Work closely with the FD to manage the syndicate auditors and the resolution of audit issues arising as required.
• Working in conjunction with the FD to onboard the accounting and reporting requirements for any newly acquired syndicates.
• Assist with technical accounting for transactions, including RITCs, and develop Board papers accordingly.
• Working with the wider syndicate finance teams to develop and streamline reporting processes in a standardized and uniform manner.
• Driving the development of reporting systems and processes capable of meeting the demands of an evolving business area.
• Provision of timely high-quality management accounting information to all business units using the Syndicates together with extensive business partnering between finance, actuarial, data/MI, and claims teams.
• Own, drive, and continuously seek to improve the Syndicates reporting processes.
• Production of timely, insightful, and strategic financial MI for management and the Board.
• Ensure appropriate Financial Controls are in place and operating effectively (in line with the Group financial controls framework) and where required, identify, and close any financial control gaps affecting financial reporting, forecasting, and out-of-tolerance financial risks.
• Develop a suite of financial risk management reports/dashboards covering risk of financial misstatement, liquidity risk, capital risk, credit risk, and tax working collaboratively with subject matter experts from other Group teams.
• Lead, motivate, and develop the team including managing their engagement through the embedding of new/improved financial processes.
• Effective change agent – comfortable working in an agile way.