Job Reference: 5658
Division: Finance – Global Business Management
Reports To: As per Beazley’s organisation chart
Key Relationships: Executive Management, Finance Leadership Team, Finance Global Business Management, Finance Business Partners, Support Function Heads, Modernisation Delivery Leads, Corporate Development & other Business Users.
Ownership of accurate and timely expense project accounting for Beazley Modernisation agenda – with specific focus on business case validation & monitoring, project variance analysis & expense management (incl. project code accounting).
To conduct oneself in line with core & partnership competencies noted below
Responsible for delivering a project accounting framework, project accounting (actual & planning expenses) & business partnering relationship around the Beazley Modernisation agenda
Expense Project Accountant Activities
o Develop a project accounting framework around the Beazley Modernisation agenda that aligns to the expense actuals / planning processes, in accordance with pre-approved timetables as defined by the expense team managers
o Review & critically challenge all project business cases – with specific focus on validating spending plans / profiles & any associated benefits
o Monitor progress of expense elements within the business cases to feed into annual / quarterly expense planning cycles (Forecast/Budget)
o Create & manage project codes to allow for business case management / reporting
o Own the month end expense processes for all projects. Including:
- All month end ledger entries
- Variance analysis (incl. Direct Cost Reports)
- Expense allocation impact (i.e. end user beneficiary)
- Running analytics processes
- Controls and governance framework (incl. Audit requirements)
o Actively focus on Capitalisation / Depreciation impact of projects and challenge assumptions to ensure alignment & appropriateness against the Capitalisation policy
o Continuously strives to develop expense capabilities for process efficiency, reporting effectiveness & robustness of control framework
Specific Business Partner Activities
These will include, but are not restricted to, the following:
- Business Partnering to modernisation stakeholders, including:
- Expense reporting and analysis (incl. focus on accruals)
- Cost challenge delivery
- Cost saving initiatives
- Reviewing and ensuring delivery of expense MI to key stakeholders and working with them to provide suitable commentary and where appropriate approval, in a timely and professional manner as suitable for the report type and audience
- Ad hoc requests from the business
· Technical Competencies
These are in addition to the Core Competencies:
o Develop knowledge of the insurance market and the accounting policies adopted
o Ability to review existing models, processes and procedures and implement improvements to improve the efficiency and effectiveness of the team
These are in addition to the Core Competencies:
- Strives to exceed the expectations of the client and actively seeks feedback
- Delivery of timely & accurate MI to all stakeholders, adding value at every opportunity
- Is outward and customer focused
- Confident in own skills and contribution; challenges the client so to support the client in achieving their optimal results
- Partnership Capabilities
- Strives to understand all dimensions of the client and their underlying requirements as it influences their results:
- Knowledge of individuals within the teams (incl. communication preferences)
- Understands and identifies all key drivers (systems and processes) behind the different views of reported (Expense) results.
Core competencies in addition to those noted as specific requirements for the role and which are considered to be pertinent to the Expense team are as follows:
- Analytical Thinking: Logical analytical approach to rapidly changing data and situations. Considers wider implications across functions and varying scenarios to Beazley.
- Professionalism: Consistently demonstrates integrity, is highly credible, respectful and trustworthy and represents the expense team in a professional manner. Builds and maintains successful working relationships and is seen to go the extra mile
- Learning and development: Identifies strengths and weaknesses and seeks to improve performance. Recognises and takes responsibility for mistakes and learns from them. Continually seeks self-development opportunities. Regularly engages in self-assessment and gives/receives feedback to enhance personal awareness
- Adaptability: Effectively manages changing priorities in a dynamic environment. Seeks training opportunities to understand new working methods. Proves resilient in uncertain and difficult situations and adapts approach/plans/style as required.
- Responsibility and Accountability: Assumes full responsibility for the consequences of own behaviour and decisions. Delivers on commitments to clients demonstrating reliability and dependability. Admits mistakes and takes responsibility for correcting them.
- Communicating Effectively: Timely communication of new information to relevant parties. Adapts communication style / form as appropriate to the audience and illustrates an understanding of their experience and needs. Conveys complex information clearly and concisely. Persuades through uncovering shared benefits and outcomes, looking for mutually satisfactory solutions.
- Demonstrating Teamwork: Seeks collaboration as appropriate and shares knowledge/best practise and helps others when asked. Acknowledges when other members of the team are under comparatively increased pressure and volunteers to support them while maintaining responsibility for own tasks. Teaches new team members & coaches others; identifies opportunities for collaboration (NB: definition of team is extended beyond the expense team as appropriate).
- Innovative approach: Independently finds solutions to advanced problems and identifies potential barriers to solutions and provides alternatives. Challenges assumptions and “the way we have always done it”. Embraces change & communicates the benefits of change to others.
Integrity and Control
- Use business knowledge to identify potential errors with financial impact and take steps to prevent and/or correct such errors, highlighting where necessary to management.
- Act as a conduit between the Finance department and other departments in order to maintain financial data integrity.
- Produce and maintain procedures documentation for own tasks.
It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better & Doing the Right Thing. We also expect Beazley employees to:
- Comply with Beazley procedures, policies and regulations including the code of conduct
- Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
- Display business ethics that uphold the interests of all our customers
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups
We are a flexible and innovative employer offering a friendly, collaborative, diverse and inclusive working environment. We actively encourage and expect applications from all backgrounds. We empower people to choose where to work given the work they need to do. Collaboration in office spaces is important but we do not mandate a set number of days in the office or from home – you decide what works best for you and the role you are in. Beazley will offer the person a competitive salary and discretionary bonus with a strong benefits package including commuting reimbursement, free in-office lunch, excellent parental leave and financial physical and mental wellbeing contributions among others.
Relevant qualifications and capabilities are listed as follows:
Education and Qualifications
- Experienced qualified accountant (ACA/ACCA/CIMA)
- Experience of the insurance market, preferably Lloyd’s
- Experience of project accounting within complex organisations
- Stakeholder management and relationship building
- Customer focus
- Understanding of controls frameworks including documentation
- Experience of a deadline driven environment
- Strong written and verbal communication skills
- Strong attention to detail
- Analytical and conceptual thinking
- Problem solving / Decision making
- Creativity / Innovation