Financial Accountant

5 days ago

London, UK, United Kingdom myGwork Full time

This job is with Munich Re, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

About Great Lakes Insurance SE:

As specialty provider of primary insurance services in the UK, Great Lakes Insurance SE, UK Branch is a substantial part of our parent, Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE currently operates from its Head Quarter in Munich, and via branch offices in UK, Switzerland, Italy and Australia. In the UK, we also operate through a subsidiary, Great Lakes Insurance UK Limited.

The finance shared services and tax team sits within the wider Finance team, under the remit of the CFO of Great Lakes London and Munich Re UK Services Limited. The team provides services to the Great Lakes entities and also to other Munich Re UK group companies and branches.

About the role:

We are looking for a qualified accountant to work within the financial reporting part of the team – taking ownership and responsibility for the financial reporting (UK GAAP statutory and IFRS reporting into Group) and Solvency II reporting for Munich Re UK Services Limited, and working closely with our auditors, providing a key liaison point throughout the statutory audit. The role will also involve providing key stakeholders, including CFOs, across the entities we look after with general guidance on finance matters, budgetary advice and cost controlling advice, working closely with our cost controlling team members. This would be an exciting opportunity for an accountant looking for their first in-house role after qualifying in an accounting firm or for somebody looking for a move to another in-house role. The team provides accounting services to entities generating c. £3.7bn premium and growing. You will report into the Head of Tax and Financial Shared Services UK. You will work on a hybrid working model.

Responsibilities:

  • To process financial transactions in the general ledger (for both the Group (IFRS) and local (UK GAAP) ledger)

  • To prepare management accounts and statutory financial statements on a quarterly/annual basis

  • To prepare the Group reporting deliverables on a quarterly basis

  • To work with the tax team on ensuring the tax accounting data is appropriately captured in the general ledger (including VAT/IPT)

  • To be a key go-to person in the finance team for CFOs, able to provide advice working closely with the e.g. cost controlling team who have ownership of the detailed figures.

  • To help assess the impact of any future changes in accounting standards.

  • To help ensure the completion/review of financial control activities.

  • To assist in ensuring the completion of the relevant external audit requirements

  • To be responsible for the preparation and review of the quarter-end audit files for Munich Re UK Services Limited.

Competencies:

Drive results You consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind.

Decision quality You make good and timely decisions to keep things moving, using analysis, experience and judgement.

Customer focus You build and maintain strong customer relationships, paying attention to their needs and adapting as this evolves.

Business insight You are able to apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.

Cultivates innovation You create new and better ways for Munich Re to be successful e.g. generating ideas, improving operational processes, harnessing new technology etc.

Persuades You use compelling arguments to gain the support, buy-in and commitment of others.

Manages ambiguity You continue to operate effectively even when things are uncertain and the way forward is unclear.

Courage You are not afraid to step up to address difficult issues, saying what you believe needs to be said. You are willing to challenge the status quo, recognising opportunities to do so.

Skills & Experience:

  • Internal/external financial reporting experience (i.e. management accounts/statutory accounts production).

  • Strong knowledge of IFRS and UK GAAP.

  • Knowledge of a group reporting process.

  • Experience working with external audit.

  • Experience managing the work of other team members.

  • Good knowledge of MS Word, MS Power-point and MS Excel, including lookups, pivot tables etc.

Qualifications and Educational Requirements:

  • Recognised accounting qualification (ICAEW/ICAS, etc).

Thought Leaders:

You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.

You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

  • Ensure compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%.

Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.

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