Job Title: Regulatory Reporting Manager - BFL
Division: Finance
Reports To: As per Beazley’s organisation chart
Key Relationships: Finance, actuarial (reserving and reporting), compliance, data management, investments and treasury, external and internal auditors, senior management and regulators.
Job Summary: Reporting to the Head of External Reporting for BFL, this role is to cover the management of regulatory reporting for BFL (the Group’s managing agent) and its managed syndicates, with particular focus on Solvency UK reporting. The role will include day to day management of the regulatory reporting team, process design and management, the attestation of the control environment in which the team operates, and have significant focus on analytics and onward presentations to senior management.
Key Responsibilities:
Individual:
BAU Reporting/Management
- Full management of all Solvency UK reporting into Lloyd’s for BFL, inclusive of quarterly and annual reporting, and Standard Formula projections
- Ownership of the preparation of regulatory review packs for presentation to senior management at regulatory review committees, as well as the Internal Model Technical Group
- Ownership and creation of all analytics including close liaison with various teams across finance such as; FP&A, Actuarial, Syndicate Accounting, Expenses, Investments and Tax.
- Full management of Managing Agent Reporting (QF1/AF1)
- Strong interaction and peer review of RRQ and RRA returns, ensuring consistency across reporting to Lloyd’s
- Co-ownership of residual regulatory reporting into Lloyd’s, working closely with the External Reporting management team
- Assistance, as required, for peer review and support in all aspects of BFL financial reporting, and ledger close
- Manage the regulatory reporting team, with significant focus on personnel development, enhancing the way the team operates and increasing the team’s control environment
BAU Enhancements/Development
- Drive the continued development and improvement of the financial reporting processes, systems and controls and driving efficiencies on newly implemented systems and tools.
- Drive the enhancement of the controls over the reporting process as defined in the Beazley risk management framework
- Work with peers and the Head of External Reporting on the creation of a single BFL reporting team, with increased interactions between all areas of the team, driving efficiency and control gains
- Continuously enhance the analytical capabilities, providing the business with real time insights, allowing for strong management of BFL and its managed syndicates
- Support the Head of External Reporting on other finance reporting requirements/projects as required
General:
It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:
- Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.
- Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability 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 People & Sustainability 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.
Personal Specification:
Essential Criteria
- Professional accountancy qualification, preference for ACA/ACCA/ICAS/CIMA, with a minimum of 5 years post qualified experience
- Graduate equivalent education and/or qualifications
- Strong understanding of Lloyd’s regulatory reporting requirements, UK GAAP and SII reporting standards/regulations
Skills and Abilities
- Strong computing skills, with significant evidence of process improvements and introduction of new technologies
- Significant exposure to General Ledger systems (Workday advantageous), Reporting Tools (Workiva advantageous), and Power BI
- Strong commercial and financial knowledge
- Strong analytical skills with attention to detail, and ability to summarise complex scenarios
- Strong team leadership skills, with a desire to promote the development of all team members
- Able to communicate effectively with others, both verbally and in writing
- Able to work on own initiative
- The ability to manage time, meet deadlines and prioritise, reacting well to periods of significant change/challenge
Knowledge and Experience
- Experience of insurance statutory and regulatory reporting required
- Strong Solvency II / UK Experience
- Experience of Lloyd’s reporting highly advantageous
Competencies
- Technical competence and expertise
- Analytical thinking/information seeking
- Communication
- Integrity
- Accuracy
- Speed and quality
- Flexibility
- Leadership
