Syndicate Accountant

IQUW Group; London; Hybrid; GBP 40,000 - 80,000; Full time

Job description

Overview

Reporting to: Syndicate Finance Manager
Location: Hybrid / London

About us

IQUW is a speciality (re)insurer at Lloyd's (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer's needs.

The role

To assist in managing the production of syndicate and statutory accounts, returns to Lloyd's and other regulatory organisations. To assist with the preparation, production, reconciliation and submission of the Syndicate Financial reporting to a high standard and on a timely basis which includes Quarterly Board packs, Lloyd's Regulatory returns including Solvency II reporting.

Key responsibilities

• Preparation and Reconciliation: Responsible for the preparation and reconciliation of technical journal entries, monthly Syndicate P&L, and balance sheet reconciliations within documented deadlines.
• Financial Reporting: Assist in the production of monthly and quarterly financial reports for the Syndicate, ensuring compliance with established timetables and accuracy in all regulatory returns, including Solvency II and all Lloyd's returns (e.g. QMA, QMB, GQD, PMDR).
• Data Management: Develop a comprehensive understanding of data flows and dependencies to support the General Ledger (GL) and financial reporting processes. Regularly review the Syndicate 218 income statement and balance sheet, assisting with necessary adjustments.
• Documentation and Controls: Document and maintain adequate procedures and controls to ensure compliance and operational efficiency. Update and maintain team's timetables.
• Critical Analysis: Critically analyse data in all Lloyd's Returns prior to submission, raising queries and incorporating responses to pre-empt questions from Lloyd's and members' agents.
• Regulatory Liaison: Establish and maintain contacts with regulatory organisations, external auditors, and actuaries to resolve queries swiftly and accurately. Monitor Lloyd's bulletins and Q&As to identify required changes for incorporation into the Lloyd's Returns.
• Continuous Improvement: Participate in continuous process improvements and carry out other reasonable tasks as required by line management.
• Values and Standards: Embody and promote IQUW Group values in all activities, ensuring that all interactions are conducted with the highest ethical and professional standards.

Qualifications, skills and experience

• Fully qualified ACA/ACCA (or equivalent).
• Strong grasp of UK Insurance GAAP.
• Strong understanding of insurance accounting, including Lloyd's reporting requirement.
• Microsoft office applications - advanced Excel, Word, and PowerPoint.
• Sun accounts, Q&A and Cognos IBM Planning Analytics (TM1).
• Lloyd's Market experience.
• Knowledge of Solvency II reporting would be an advantage.

Benefits

• Competitive Benchmarked Salary
• 25 days holiday
• Discretionary bonus scheme
• Employee assistance programme
• Annual holiday buy (up to 3 extra days)
• Salary sacrifice benefits
• Annual benefits reviews
• The option for professional qualifications and study support

Additional Information

• A full job description can be seen here.