Finance Manager - FR&C (Underwriting)
As a Group, Saga is taking to the seas in our brand new, luxury cruise ships, leading the market with innovative insurance products, and creating thousands of unforgettable memories for our loyal holidaymakers who are at the heart of the Saga brand.
This role is an important leadership role within our Group Financial Reporting & Control team who strive to facilitate, to help and support the business.
The Group Financial Reporting & Control team is currently going through an exciting change programme, it has a new structure with lots of interesting things happening.
In this role, you'll manage aspects of Acromas Insurance Company Limited (AICL), the Group’s underwriting business and CHMC Ltd, the Group’s claims handling management company.
You'll be a qualified accountant or have a strong insurance background. You be strong with process and be a natural problem solver. You'll be able to challenge the way things are done and be proactive in learning new things. You'll have previously managed a team and worked for a med-large sized organisation.
And in return, you can look forward to all of the responsibility and involvement of an integral role, providing you with a rewarding and fast paced career with an excellent benefits package including life assurance, pension, high street and online discounts, and concessions for holidays and travel.
- Manage the completion of monthly general ledger postings, and associated balance sheet reconciliations in-line with Group reporting standards. This should include the preparation of monthly balance sheet variance analysis, including risks and opportunities – combined with demonstrating a clear and detailed understanding of variances during review meetings.
- Working closely with the Underwriting FP&A team to ensure all aspects of the general ledger are delivered accurately in-line with Insurance accounting standards and within required timeframes
- Work closely with the Actuarial department to ensure data used across the business is accurate and consistent and that actuarial and finance reserves are reconciled quarterly.
- Champion the improvement and automation of processes and systems in all areas of responsibility undertaken by the team – striving to make our processes Brilliantly Boring.
- Lead the preparation of Solvency II deliverables, working closely with the Actuarial Department to ensure all data points are collected accurately and within the required timeframes. Build and then demonstrate a detailed understanding of the regulations to ensure analytical procedures are robust and risks/errors are quickly identified.
- Build excellent working relationships with our external underwriting partners on Home and Motor insurance. Ensure all external reporting requirements are provided in accordance with contractual terms.
- Deliver Financial Statements for all relevant legal entities, in line within internal and external requirements.
- Manage the delivery of Corporation, VAT and Insurance Premium Tax returns, ensuring all processes and reporting is in line with current tax best practice and guidance.
- Become one of the technical leads for Financial Reporting. Including playing an integral part in the adoption of new accounting standards, in particular IFRS17 – Insurance. This should include the drafting of accounting papers for internal and external use and the training of staff.
- Point of expertise for the relevant internal customers including Directors, operational managers and other finance teams.
The Ideal Candidate
Capability, Knowledge and Background:
- Good commercial awareness with an understanding of insurance underwriting preferable
- Strong man management experience, with ability to lead by example
- Experience of process improvement
- Willingness to roll up sleeves to sort out issues and meet deadlines
- Experience of working for/with a medium to large size organisation
Education and Qualifications:
- Qualified ACCA/CIMA/ACA, ideally with insurance experience
- Excellent communication skills with ability to communicate well at all levels. Keeps others fully informed, encouraging participation and the expression of different or opposing views to ensure full understanding and engagement
- Acts proactively to improve customer service. Improves lines of communication
- Ability to inspire others and gain respect.
- Proactive approach to sharing knowledge and understanding issues in the wider finance team, identifies talent and providing own resource to other areas, if appropriate. Helps and encourages others to learn and develop and takes a proactive approach to own development in current job
- Self-motivated, self-starter who will work well under pressure
- A good negotiator, with the ability to debate thinking to get to the best commercial outcome
- Identifies relevant information and evaluates the issues to make sound decisions in highly complex or sensitive situations
- Instigates and drives change. Open to new ideas
- Improves team effectiveness by providing a sense of purpose and values, and by involving team members
The standard benefits when you join Saga include:
- Option to purchase a further 5 days annual leave per year
- Free private medical insurance after 1 years service
- AXA Be Supported
- Apples Nursery (Folkestone only and on a waiting list basis)
- Free fruit
- Give as you earn
- Free eye tests
- Honeymoon benefit
- Salary finance
- Discounts on Saga holidays and insurance products
- A range of reductions and offers from leading retailers, travel groups and entertainment companies
- Long service awards
About the Company
When you join Saga you will see that we are committed to treating all employees fairly and to offering equal opportunities in all aspects of employment and advancement.
We value diversity not just because it is the right thing to do, but because diverse teams perform better. Creating a culture in which everyone feels welcome and offering equal opportunities in all aspects of employment and advancement is incredibly important to us. Fair consideration is given to applications from all applicants, including those with disabilities. If you need support at any point with your application please let us know as we will be happy to help.
Learn more about the Saga business by watching our Saga plc results for the financial year 2018/2019
To all recruitment agencies: Saga does not accept agency CVs unless specifically engaged on the role by the HR Recruitment Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga is not responsible for any fees related to unsolicited CVs.