Capital and Reinsurance Manager

Location: Gibraltar, Haywards Heath, Home Office (Remote) or Manchester Salary: £75,000 to £90,000 depending on experience Department: Finance

We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.

 

We work and play hard. We mix fast pace with fun. We get things done. Join us and fly.

Our Finance team need a proactive and focused Capital and Reinsurance Manager , who'll play a large part in embedding a capital focused culture into business decision making at all levels and ensuring compliance with all regulatory obligations.

You'll understand about Solvency II capital requirements and their principles and have demonstrable experience in Capital Management and Reinsurance, where you'll s upport delivering a proactive approach and strategy to enable the business to achieve its long-term objectives.

Working flexibly, you'll spend most of your time working from home, with a day a week in the office (so living close to Haywards Heath, West Sussex or Salford Quays, Manchester would be perfect). But of course, it’s your choice - if you prefer to be in the office more - that's good with us too. L ive in Spain or Gibraltar? - with offices in Gibraltar, you'll also be welcomed.

You’ll be the perfect person for us if:

You’re a qualified or part- qualified Qualified Accountant (ACCA, CIMA, ACA or equivalent) or you’re suitably skilled through your experience.

You've experience of leading the narrative and submission of compulsory capital returns, such as SFCR and ORSA in your toolkit.

Communicating complex financial matters is one of your strengths

Responsibilities: 

Capital

• Lead the narrative and timely submission of compulsory capital returns –SFCR and ORSA
• Support embedding the capital function into the business and establish a capital focused culture among finance colleagues and trading / pricing decision makers
• Provide guidance to senior executives on the impact of proposed regulatory changes arising from increased supervision from the GFSC, develop decision making aids to navigate potential issues and provide appropriate recommendations
• Support external Legal / Regulatory experts in understanding the capital position and the results of stress scenarios to facilitate their discussions with the regulator on proposed changes to capital or group structure
• Lead all BAU reinsurance processes, reinsurance bordereau review, forecast / planning assumptions, month end review, cash flow forecasting and sign off BS reconciliations.
• Own the day to day strategic partnership with external underwriting broker, ensure ongoing compliance with reporting timescales and co-ordinate ad hoc data requests
• Support the strategic decision-making and placement of the Company’s QS and XOL reinsurance programmes, ensuring appropriate cost/benefit analysis and cost of capital calculations to ensure reinsurance programme is optimised and aligned with Company’s strategic objectives
• Co-ordinate with external reinsurance broker to explore alternative reinsurance and risk transfer solutions to drive increase effectiveness of reinsurance programme and maximise return on capital
• Support the annual renewal process with Group Chief Underwriting Officer and Head of Capital and Reinsurance

Corporate Projects

• Leading the analyse the capital impact of new corporate initiatives, working with the Capital Manager to produce solvency projections and relevant stress tests for both Group and SICL
• Produce material for board and regulator engagement on new corporate initiatives reflecting the solvency and capital impact

Change Management

• To lead working groups with the wider finance team to adapt existing financial processes to satisfy business requirements and support commercial decision making as we adapt and grow through external advice (New reinsurance structures, new metrics, market best practice on internal reporting, transferring of Own Funds into Financial reporting team)

Leadership

• To deputise for the Head of Capital and Reinsurance as and when required
• To act as a mentor and coach to junior colleagues within the team
• To perform any other duties as reasonably required

Job Specific Competencies: 

Qualifications

• Qualified Accountant (ACCA / CIMA / ACA or equivalent by experience)

Experience

• Experience within an Insurance or financial services company
• Good understanding of the calculation of Solvency II capital requirement / own funds and how the principles of Solvency II are applied to general insurers
• Understanding of regulatory submissions

  Skills

• Clear and concise communicator so that senior leaders from both finance and non-finance areas can understand the issues quickly and make appropriate business decisions
• Able to articulate complex matters from junior to Board level in an insightful way
• Good time management and organisation skills, with the ability to meet tight deadlines
• Leadership skills and ability to motivate employees in a high pressurised environment
• Problem solving skills, with the ability to identify problems and adopt a logical approach to resolving problems
• Advanced knowledge of Excel and PowerPoint

Behaviours

• Commercially focused and willing to challenge information and not take at face-value.
• Self-motivated and enthusiastic with an organised and proactive approach
• Taking responsibility for tasks and seeing them through to completion with great attention to detail and a high degree of accuracy
• Flexible approach to work and adopts a positive attitude
• Embraces opportunities to develop and learn - shows a great level of self-awareness and drive.
• Possess an inquisitive mind, and be able to identify anomalies or inconsistencies and pursue these through to a resolution
• Relish the challenge of working to tight deadlines and during periods of pressure
• Strives to drive business improvements and contribute to the success of the business

Want to know more ? Sounds like you? Then click on Apply.

This is just the start. Imagine where you could end up The journey’s yours…

What can we do for you?

We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…

• Fantastic training and development opportunities
• Employee benefit packages to suit your lifestyle
• YOUday – we give you an extra day off to celebrate a special day
• The opportunity to take a paid day off each year to do charity work
• A health cash plan
• Help with travel expenses
• The opportunity to buy additional holiday
• Company pension scheme
• Group life assurance
• Enhanced maternity and paternity pay

Employee wellbeing is high on the agenda here too. We provide discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.

For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Talent team.

We’re happy to discuss flexible working during the recruitment process.

As part of our Women in Finance Charter pledge, we've committed to having 30% of women in leadership roles by the end of 2023.

86% of people would recommend a friend to work at First Central

Simply Health Cash plan. Reclaim the cost of your eye tests, dental, physiotherapy and more

Flexible Bank Holidays

Eight flexible bank holidays; you can choose which festivals you observe

We’re passionate about it. Everyone gets a paid day off annually to volunteer

Electric Car Scheme

Plug into our Electric Car Scheme for a deal with insurance, road tax and servicing

Flexible Working

We’re flexible; most roles let you mix office and home working. We work fluidly around core hours

Your Time in Need

Your Time in Need: five days’ leave so you can deal with life stuff. We’ll support you

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