Purpose of this role
This is a key business role within the Finance Investment Department. The successful candidate will be responsible for collateral data for reinsurance and derivatives, associated operational accounting and controls, attesting that all Investment Collateral Accounting is correct and consistent throughout the Group for IFRS and Solvency II (plus others, tax, EV etc.
They will support all IFRS collateral numbers and notes and will be responsible for ensuring that all Investment collateral Solvency II reporting (QRTs) are submitted on time and to standard.
Also responsible for running, maintaining, controlling and improving the investment collateral operating model. The successful candidate will have to work in BAU and multiple projects spanning several international markets and working environments.
Key Contribution Areas
Responsible for carrying out periodical reviews of collateral calculations, including variance analysis for material movements, Investment collateral KPI / SLA monitoring covering ownership, existence, completeness and governance / oversight for Management, Audit, Tax and Regulators, (i.
e. running numbers and reviews demonstrating good investment practice, including but not limited to adherence to good market practice, Investment Guidelines, proper execution, outsources timely settlement of collateral, trades, delivering robust, consistent accounting entries for all basis, reconciling assets etc).
Run, maintain, control and improve the collateral operating model (mainly outsourced) Responsible for the monthly delivery of Collateral Accounting numbers to all entities Other key work is to ensure control of all collateral costs from counterparties, outsourcers, system providers etc.
Quarterly delivery of Investment collateral Solvency II data detail to Risk & Actuarial for Solvency II reporting Design document and maintain the Investment collateral operating processes and procedures ensuring all are up to date Liaise with all collateral stakeholders on current and future delivery to facilitate smooth running of projects.
Producing regular BAU reporting including metrics Ensure adequate documentation of all tasks undertaken (including supporting / completing as needed) Ensure Support model is appropriate for BAU & update for any changes in the operating model Responsible for providing guidance, support and leadership to team members in their operational tasks and in their general development Lead in the embedding of the risk culture and control framework across the Group including identification of risks and controls and remedial actions to address all points.
Personal Capabilities Required
Excellent organisation skills, time management and the ability to work to tight deadlines High levels of commitment and energy, combined with the ability to influence outcomes and enact positive change Ability to run, control, design a Group Investment Finance Operating Model Given the nature of this role and the evolving state of the newly established Group, this individual will need to be comfortable and thrive in an environment of change and, at times, uncertainty.
Functional or Technical Knowledge and Skill Required
Experience in collateral including accounting (ideally covering IFRS and Solvency II reporting) Qualified Accountant and / or educated to degree level or equivalent Minimum of 5 years’ experience working in a Finance or Investments role in the Financial Services / Insurance industry Experience of working in a dynamic development environment with an appreciation of BAU, Change and Project If you’re interested in this or other financial services jobs,