IFRS 17 Manager - Reserving & Capital

Job Introduction

IFRS 17 Manager – Reserving & Capital

Salary - Depending on Experience

Permanent

London Hybrid

You will be joining the largest part of the Saga Group – Insurance. Here we have already began embedding IFRS 17 across our finance function, we now need a qualified Finance Manager to move into this technical role on a full-time basis.  

If you are a qualified Finance Manager, who has worked in the insurance industry and gained experience of implementing a defined reporting process; either IFRS 17 or Solvency II, this will be a great career move with scope of future development.  

As our IFRS 17 Finance Manager, you’ll be fully responsible for key Finance deliverables under both IFRS and regulatory solvency capital requirements within the Saga Insurance business, ensuring outputs are completed on time and validated through shared understanding.

Reporting directly to our established Finance Director while working closely with our Chief Actuary, finance teams across insurance, the Reserving and Capital Actuaries and Actuarial Analysts.  

Within Saga you will be seen as the Finance Business Partner for the Underwriting Reserving & Capital function, acting as the key liaison between finance and actuarial colleagues. 

Taking the existing processes and knowledge and working with colleagues across the business to ensure the understanding is embedded into the regular management and statutory finance reporting cycles.

It is truly a rare opening within an established business and team. You will be our Finance Lead for the quarterly and annual returns of £500m of assets. Ready for the challenge? – Read on.  

MAIN RESPONSIBILITIES:

Our new Finance Manager for IFRS17 will be accountable for production of the regulatory reporting processes for Saga, covering the following areas of responsibilities; 

• Validation and review of IFRS4 balance sheet as part of standard month end cycle, including reconciliation of claims with the actuarial team.
• Operationalising and integrating the new IFRS17 accounting standard into regular monthly reporting and forecasting cycles, working with actuarial colleagues to systemise inputs, with analysis of key movements across P&L and balance sheet to required deadlines.
• Acting as finance lead for quarterly and annual regulatory and solvency capital returns, co-owning balance sheet inputs with actuarial colleagues and providing support to validate outputs and explain key movements.
• Providing appropriate challenge and support to the commercial teams to deliver bi-monthly forecasts and longer-term balance sheet projections.
• Supporting preparation of annual statutory accounts for AICL while liaising with company auditors to facilitate and monitor responses to the AICL audit plan.
• Supporting the Financial Controller in the maintenance of a robust control environment and the enhancement and testing of the financial control framework.
• Inputting into the planning and budgeting cycle for Underwriting and Claims entities.
• Continuous design and improvement of existing financial reporting to satisfy business requirements and support commercial decision making.
• Supporting system development, implementation and change to deliver process improvement and enhanced management reporting.
• Coaching and developing other team members, leading by example and providing motivation within both AICL Finance and the wider Saga Finance team. 

THE IDEAL CANDIDATE:

We are keen to appoint a technical finance expert who has prior working knowledge of IFRS 17 or Solvency II. Candidates will need to have the following qualifications and experience;    

• Hold a professional qualification in accountancy such as ACA/ACCA/CIMA, likely to be 5+ years post qualified experience for this level of role and responsibility.
• A detailed understanding of an Insurance balance sheet, with experience of actuarial claims reserving processes would be particularly advantageous.
• Experience of either IFRS17 or Solvency II implementation and reporting processes.
• A flair for systems and process efficiency, particularly MS Excel skills.
• Demonstrate excellent communication skills, both written and verbal. 
• Have the natural ability to quickly build relationships across the organisation and explain complex principles at an appropriate level of detail, depending on the audience
• Curious and proactive – seeking solutions and deeper understanding of the ‘why’ and ‘how’.
• Have excellent time management skills with the ability to work under pressure whilst balancing multiple deliverables and priorities.
• Exceptionally high attention to detail, with the ability to review (both themselves and peers) and feedback accordingly.

Everyday our colleagues deliver exceptional experiences to our customers. We believe exceptional work deserves even more exceptional rewards, that's why we have put together an amazing benefits package for this opportunity;  

• Market relevant base salary.
• Home based role with flexibility.  
• 25 days annual leave plus bank holidays with the choice to buy a further 5 days annual leave per year.
• Annual Bonus up to 5% of your annual salary.
• Free private medical insurance after 1 years' service.
• Workplace Pension matched up to 10%.
• Life assurance – 4 times annual base salary.
• AXA Be Supported.
• A range of reductions and offers from leading retailers, travel groups and entertainment companies.
• Colleague discounts including family discounts on cruises and holidays!
• Enhanced maternity and paternity leave.
• Grandparents leave.
• Income protection Policy.

Saga does not accept agency CVs unless specifically engaged on the role by the Talent Acquisition Team. Please do not forward CVs to our recruiters, employees or any other company location. Saga will not be responsible for any fees related to CVs received in this unsolicited manner.

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Saga Group