Capital and Insurance Manager

Capital and Insurance Manager

Location:
Guernsey, Haywards Heath or Salford Quays
Salary:
Up to £85,000 depending on experience
Department:
Finance & Procurement
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We’re on the hunt for a talented Capital and Insurance Manager to join our Finance team in Salford Quays, Manchester, Haywards Heath, West Sussex, or our offices in Guernsey. 
 
Supporting the Underwriting Finance Director, you’ll oversee the capital and dividend strategy calculations in the strategic 5-year planning process, highlighting potential pitfalls and risks. Liaising with the wider business, you’ll be the go-to person in the use of capital metrics – specifically setting of risk appetite, capital allowances in pricing, reinsurance and investment strategy.
 
You’ll demonstrate strategic thinking, advising the Group of the wider impact of insurance and reinsurance arrangements, and implication on solvency. Reporting solvency to the Group and entity Boards, you’ll liaise with the statutory auditors, provide regulatory reporting, assist with preparation of meeting packs and deal with any outstanding actions.  
 
To be successful in this role, you’ll need to have:
  •  A professional accounting or actuarial qualification, such as ICAEW, ACA or FIA with demonstratable post-qualification experience or established ‘qualified by experience’ in general insurance 
  • Recognised experience with Solvency II Pillar 1 modelling, Pillar 3 reporting, ORSA process including calculation of SCR, bridging from GAAP Net Assets to Solvency II Own Funds and population of QRTs
  • Commercially focused with excellent communication and problem-solving skills to identify and adopt a logical approach to resolving
 
 
Job responsibilities
  •  Own the monthly/annual calculation and reconciliation process for Solvency II (SII) advising month on month/quarter/annual solvency position explaining material movements
  • Develop and oversee the quarterly review pack for the Review team consisting of 1) the current month’s solvency calculation including reconciliation from GAAP net assets to SII Own Funds and analysis of SCR, 2) walk from the previous month’s/quarter’s solvency position to the current month’s/quarter’s solvency position, 3) summary of key assumptions/inputs and 4) requests for approvals by the Review team 
  • Own the SII Operating Process, ensure that all documentation relating to the model (including technical provisions and assumptions) are up to date and ensure developments in SII are reflected in the model
  • Maintain and develop the economic capital model, undertaking regular reviews of modelling capability, including refresh of assumptions and parameters, and enhancements arising from internal and external auditor review.
  • Ensure that model documentation is maintained to the appropriate regulatory standard.
  • Own monthly reporting of Group/entity Solvency reporting to ExCo, including production of the Group Solvency Dashboard and ad-hoc reporting as required
  • Produce regular liquidity MI to demonstrate compliance with liquidity risk appetite
  • Undertake scenario modelling around investment strategy and recommend the optimal strategy for the entity, reviewing investment performance on a regular basis
  • Review of forecast balance sheets prepared by other Finance teams
  • Develop and maintain a collaborative relationship with the external jurisdictional managing agent, provide them ad-hoc assistance to meet regulatory reporting requirements
  • Liaise with the Group’s statutory auditors at year end as and when required
  • Support the Financial Accounting team over technical disclosures in the Group’s and entities’ financial statements
  
 
Skills, knowledge & experience
  •  General insurance financial or accounting experience, including technical analysis, reinsurance and financial and statutory reporting
  • Proven ability to manage and build relationships with different teams and stakeholders around the business
  • Excellent knowledge of how to prepare insurance accounts in line with regulations and policies
  • Experience of future capital raising opportunities or future sale/partial sale event
  • Understanding of Solvency II Pillar 1 modelling, Pillar 3 reporting and ORSA process, including calculation of SCR, bridging from GAAP Net Assets to Solvency II Own Funds and population of QRTs essential. 
  • Knowledge of FCA requirements (including TCF)
  • Strategic thinker, understanding Group wide impact of insurance/reinsurance arrangements and implication on solvency
 
What can we do for you? 
We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…
 
  • Fantastic training and development opportunities
  • Employee benefit packages to suit your lifestyle
  • Flexible working
  • YOUday – we give you an extra day off to celebrate a special day
  • The opportunity to take a paid day off each year to do charity work
  • A health cash plan
  • Help with travel expenses
  • The opportunity to buy additional holiday
  • Company pension scheme
  • Group life assurance
  • Enhanced maternity and paternity pay
  • Professional subscription fees paid
     
Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.

For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.
 
If this job sounds like the role you're looking for, apply today!
 
Want to know what it’s really like to work at First Central? Take a look at our Glassdoor reviews.

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Benefits

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Flexible working

We support colleagues who wish to work flexibly whilst meeting the needs of the business.

YOUday

We give you an extra day off to celebrate a special day.

Holiday Extra

Not only do you get a generous holiday entitlement, you can also buy additional leave.

Volunteering

Get a day off each year to take part in volunteering activities.

Health cash plan

Claim money back on your healthcare costs, such as dental check-ups and eye tests.

Season ticket loan

We provide interest-free loans to cover the cost of season tickets for rail, bus or car parking.