Regulatory Reporting - Solvency

Job Description

• Shifts – UK Shifts (2pm – 11 pm)
• WFO – 5 days

Function

Regulatory Reporting, London Market

Basic Function

Individual task of month end/quarter/year end close.

Process entails preparation of working files for responsible countries for an insurance client. Manage the quarter and year end close cycle – Month-end/Quarter-end/Annual reporting of responsible entities and countries.

Prior Experience in Below Tasks

• Annual Solvency Returns (ASR, ASB, AAD, to be updated for Solvency UK requirements)
• Syndicate Business Forecast (SBF)
• Reserving Return Annual/Qtrly (RRA/RRQ)
• Managing Agent Annual/Qtrly Solvency Return (AF1/QF1)
• Quarterly Solvency Returns (QSR, QAD, to be updated for Solvency UK requirements)
• Quarterly Monitoring Data (QMA Delta)
• Quarterly Monitoring Data – Forecast to Ultimate (QMB)
• Quarterly KPI Data (Flash Report)
• Quarterly Trust Fund Reporting (US SITUS, CAD SITUS)
• Performance Management Data (PMD)

Knowledge

Sound knowledge of Solvency I, Solvency II, BMA, PRA, Solvency UK, Lloyd’s Market Reporting and ability to review, consolidation and provide commentary for Group consolidation.

Trust Fund and Financial conduct Reporting (indirect), Members and Capital reporting – preparation, consolidation and review of reports.

Primary Internal Interactions

• Onshore client for the purpose of reporting performance, escalation handling, clarifying concerns, and seeking feedback and support.
• AVP for the purpose of settling issues/challenges and queries related to monthly evaluation of performance.
• Team members for the purpose of seeking co-operation & providing clarification on process-related matters, assistance and support in case of issues faced.

Primary External Interactions

• Onshore Manager and SMEs for daily planning of work and execution of deliverables.
• Must demonstrate effective and diplomatic oral and written communication skills.
• Strong time management and organization skills.

Skills

Technical Skills

Qualified CA / ACCA / CPA / equivalent with 4+ years’ experience in regulatory reporting within UK insurance or London Market companies.

Process Specific Skills

Qualified Professional with 4+ years of experience in Regulatory reporting (Industry + BPO).

Experience in Solvency I, Solvency II, BMA, PRA, Solvency UK preferred with Lloyd market experience.

Strong understanding of Solvency II reporting and UK regulatory framework.

Experience working with Lloyd’s syndicates or London Market insurers preferred.

Strong analytical and stakeholder management skills.

Ability to ensure deliverables are of high quality in statutory/regulatory report for close cycle and deliver results accordingly.

Must have worked on Workday and BI tool or similar platform with experience in UK accounting.

Insurance accounting regulatory reporting experience or IFRS knowledge mandatory.

Working knowledge of Group Consolidation and reporting.

Soft Skills (Desired)

• Good oral and written communication skills.
• Robust time management and organization skills.

Soft Skills (Minimum)

• Team Handling.
• Self-disciplined and result-oriented.
• Ability to multitask.
• Ability to work effectively as part of a team.
• Commitment and drive for results.
• Strong analytical skills.
• Ability to understand and question established process guidelines to bring about possible process improvements.
• Ability to find solution – especially for client queries and issues.

Education Requirements

Qualified CA / ACCA / CPA / equivalent.

End of Job Description