Project Accountant

Role Title: Project Accountant Outwards Reinsurance-Accounting Operations

Department: Finance

Team: Accounting Operations

Location: London

Type: 12 month Fixed-term Contract

About the Role:

• Reporting to the Head of Outwards Reinsurance - Accounting Operations, the role is to assist in the delivery of Ceded requirements for Finance Transformation Programme

About the Department & Team:

• Finance in Liberty Specialty Markets (LSM) consists of circa 100 FTE and has a number of key roles:
• To partner the business to enhance decision making with a focus on strategy, planning, analysis and reporting. Support is provided both to the three management 'Pillars' – Specialty, Commercial and Reinsurance – and also to the supporting functions within LSM
• To utilise our legal entity platform in the most cost and capital efficient manner complimenting and supporting the LSM strategy;
• To ensure that all external financial reporting requirements (statutory, regulatory, tax, capital etc.) are fulfilled. LSM consists of a Lloyd's Syndicate, a UK insurance company with European branches and a number of service companies and cover holder companies
• To report to our US Parent on standard monthly requirements and ad-hoc requests on both a pillar and a legal basis
• To ensure superior management of our investments, cash and all financial risks
• To give finance operations support to the business and finance
• Finance strives for continuous improvement in all areas and aims for excellent customer service, supported by quality and efficient processes, all operating within a robust control environment.

Key Responsibilities:

• Data Migration -undertake the detailed analysis of the Ceded Technical Accounts to assist in the delivery of Ceded data FTOM requirements.
• Reconciliation- reconciling SAP ledger to IBD Finance sub Ledger for all Ceded Technical Balances (e.g. Premium, commissions, recoveries)
• Agreeing on how any differences will be remediated through governance
• Accounting: to work closely with various departments in the business to ensure appropriate data is available and readily accessible
• Process and Data: documentation of reconciliation process to ensure appropriate reinsurance controls are performed and in place to ensure the data migration is accurate and appropriate
• Testing-Performing and reviewing testing of new RI system- to include both calculations, allocations, and RI contract set-up
• Finance Programme and business readiness: Provide direct input to and support other team members in the Finance Programme deliverables with respect to the future state processes of the strategic outwards reinsurance arrangements
• Other and Ad-hoc: to assist other reinsurance accounting team members (and wider finance as appropriate) to respond to other ad-hoc information requests.
• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules ,Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing

Skills and Experience:

• Qualified Accountant
• Extensive financial and management reporting experience is essential.
• Knowledge and experience of insurance accounting under US GAAP is essential. UK/Lux GAAP beneficial.
• Strong understanding of the drivers of underwriting results from both a commercial and an accounting perspective.
• Strong ability to understand outwards reinsurance arrangements and the accounting thereof.
• Naturally analytical with high level of accuracy and attention to detail
• Proven ability to develop and build processes with enhanced efficiency and control
• Experience of liaising with different teams and combining multiple data sources to solve problems
• Knowledge of Liberty’s business is a benefit
• Experience of managing people is preferred, including leading teams and developing staff
• Strong Excel skills.
• Experience of using SAP and related reporting tools for booking entries and reporting results is beneficial

About Liberty Specialty Markets (LSM)

Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.
• Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
• Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

For more information, please follow the links below:

https://www.libertyspecialtymarkets.com/gb-en/careers/working-for-us

https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion