UK Financial Controller
Reporting to: UK Head of Finance
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.
To lead the IQUW UK Group finance team ensuring that the teams’ resources and plans align with the wider Group strategy. Responsible for reporting internally and externally, on all UK group financial matters and the control environment over the underlying accounting processes. Assist senior management in meeting the organisation’s objectives within its financial and operational framework, including recommending and advising on accounting policies, financial control standards and ensuring their application across the group.
You will be responsible for the UK Group process, creating and maintaining an environment of robust and effective financial reporting with strong processes, procedures and controls. The role holder will take the lead on responsibility for UK Group financial reporting and tax management.
The role holder will work with finance colleagues to ensure that the group-wide systems of internal financial controls and reporting are appropriate and robust. Additionally, the role-holder will build strong relationships with the External Auditors, and peers across finance, risk and the business.
- Review of the capital requirements for the UK Group, including compliance with Lloyd’s capital rules
- Management of Bank LoC reporting and compliance obligations
- Participate in the negotiation of LoC facilities
- Working with the FP&A team review and enhance UK Group forecasting model to analyse returns, forward looking plans and capital requirements
UK Group Cash Management
- Management of the working cashflow needs for the UK Group
- Ensure compliance with all intra-Group and external facilities
- Deliver the UK group interim and year end statutory reporting process including consolidation, liaising and building strong relationships with key external advisers particularly the external auditors.
- Oversight of financial reporting against group minimum standards
- Oversight and presentation of UK Group Audit Committee papers
- Working with the FP&A team produce and enhance UK Group MI including forecasting, budgeting, cash flow reporting.
Accounting policy & training:
- Maintain the group accounting manual ensuring compliance across the group via a rolling series of “deep dives” and reviews.
- Provide technical leadership, coaching team members and creating an environment that encourages challenge
- Provide technical accounting support for M&A activity, new initiatives and products, covering modelling the accounting impacts on the group’s result
- Ensure technical training across the UK Group is implemented
UK Group financial control framework:
- Manage the group financial control framework including strong financial control standards and financial control KPI reporting
- Stay abreast of financial control changes and ensure implications to the group are monitored and delivered
- Continually assess the efficacy of the financial control function and lead process improvement as required
- Responsible for the production and integrity of the group tax reporting for example VAT returns and corporation tax returns including senior accounting officer responsibilities for UK tax Group
- Ensure compliance with UK transfer pricing requirements
- Monitor tax strategy and ensure that the structures are optimised and compliant
- Own relationship with HMRC, external tax advisors and external audit tax team
- Run a centre of excellence for ad-hoc tax queries across the group
- Responsible for Deferred tax valuation and Corporation tax planning
People / Leadership
- Work closely with the senior Finance team to set the day-to-day culture, focus, and priorities for the finance function
- Build, maintain and develop a high performing UK Group Finance team ensuring that the team demonstrates the highest professional and ethical standards and operates within appropriate governance frameworks
- Provide inspirational and motivational leadership and direction. Work with the broader team to create an inclusive and ‘high performance’ culture
- Recruit, train and employ high calibre employees within budget, headcount levels and temporary resource requirements
- Coach, mentor and develop staff, including providing career development planning and opportunities
- Work with the senior Finance team and HR Business Partner to develop a culture of performance management, improvement, and appraisal as a foundation for excellent organisational performance, including providing open, honest and timely feedback
- Provide oversight and direction to employees in accordance with the firm's policies, procedures, standards, and SLAs
Risk & Compliance
- Ensure that all Governance and Compliance requirements are adhered to and all reporting and reviewing activities required by the Regulatory Bodies are carried out to the standards required
The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
Essential qualifications, skills and experience
- Qualified Accountant with significant experience within Financial Control
- Non Life Insurance (with Lloyd’s experience if possible but not essential) experience
- Good understanding of London and International insurance/reinsurance market dynamics
- Experience of running a Finance team, developing systems and controls, and financial modelling
- Experience of embedding change and process improvement
- Good understanding of UK Taxation
- Understanding of UK GAAP and IFRS
Desirable behavioural attributes
- Good communication and presentational skills
- Experience of dealing with senior management to Board level
- Strong organisational skills and ability to plan ahead
- Ability to work effectively and collaboratively with others, both internally and externally
- Self-motivated and driven to achieve desired outcome
- Excellent problem solving skills and ability to think outside the box
- Able to work effectively when faced with ambiguity