New opportunity whereby you will take ownership, control and running of the daily box management process including resolving issues and reducing the risk and exposure. The Investment Accounting team is responsible for the oversight of the outsourced Investment accounting provider on behalf of the group and provides assurance around valuation uncertainty in addition to ensuring appropriate investment accounting control and expertise. The role requires assisting in driving and facilitating technical accounting support, the delivery of investment data controls, oversight, provision and data analysis for the Solvency II group (re Ireland). Daily Box management processes from underlying systems to the Group Asset Manager. The role requires significant amount of change, managing the underlying processes as new asset classes, products and regulatory developments are introduced. Ensuring safe and timely delivery. To manage and develop the capability of the Investment Accounting team into a high performing team
Key Responsibilities & Accountabilities
* Provide oversight of outsourced investment accounting
* Manage the Investment Accounting team, ensuring delivery of its objectives against those set by the Group Finance Director.
* Prepare reports and presentations to support the Group Finance Director and SFLT delivery to the Group Board, GEC and relevant committees.
* Deliver clear and effective communications to key stakeholders, including GEC members, when reporting and delivering analysis and insight of key messages.
* Be recognised as a subject matter expert in Investment Accounting, and as a point of day-to-day escalation for the team on technical and management queries.
* Act as a technical expert for investment products and assets writing papers for and managing the Valuation Forum.
* Manage the operational running of the team, ensuring a high quality of output is delivered that exceeds/meets key stakeholder expectations.
* Lead the daily box management process including ownership, control and running the process including resolving issues and reducing the risk and exposure.
* Ensure that all processes within the team are documented effectively and to the required standards, including FRDCF controls, ensuring the team complete design assessments and operating effectiveness self-assessments, with deficiencies reported and escalated to Group Finance Director.
* Lead the investment reporting change including linkage with the Group Asset Manager and third parties ensuring of change, managing the underlying processes as new asset classes, products and regulatory developments are introduced. Ensuring safe and timely delivery
* Identify opportunities to continuously improve the quality, controls and operational effectiveness and efficiency of the team, and become slicker and more efficient.
* Manage and develop the capability of the team, ensuring individuals’ objectives align to the Finance vision and that this is understood within the team.
* Lead the resolution of issues with GTO and Customer operations
* Objectives and outcomes of role delivered to time and quality any targets met.
* Evidence of processes being reviewed using continuous improvement methodology
* The adoption of better ways of working through finance systems
* All required reports are delivered on time according to relevant schedules and to the required company and/or external standards.
* Business lead for business change projects championing and being an advocate of change across Group Finance and the broader business.
* Provide a lead SME role to key projects and initiatives.
* Ensure an appropriate balance between BAU activities and change across the team, ensuring that change, and its impacts are appropriately planned, managed and prioritised.
* Identify, shape and lead the opportunities to improve both processes and controls to deliver improved efficient, effective and controlled outcomes for key stakeholders.
* In depth understanding of change management tools and methodologies and applicability.
* Actively identify capacity and capability risk to Function, team and project plans and proactively remediate before impacts are felt.
* Ensure projects are shaped to achieve required strategic outcomes, are delivered to time cost and quality and risk appetite, and achieve the required outcomes which are fully embedded in the business.
* Process management and improvements are targeted and owned across the teams and Function as a whole, including systemic reviews to ensure there are no potential surprises within process or outcomes.
* The function and team plan and processes are owned, uplift business capability and achieve strategic targets. Individuals and teams are moved through the change curve at the appropriate pace.
* People Management.
* Take ownership of your own development by ensuring that you have a clear and defined development plan that you continually review and work towards.
Key Contribution Areas Measures
* Clearly understands the link between the Group Strategy and the Risk Strategy & Appetite Framework (RAF)
* Deliver business plans and operates within risk appetite, ensuring risk based decisions are evidenced and taken at all times
* Ensures Emerging risks are identified and communicated through to local Risk committee and Emerging Risk forum
* Risk Appetite SME’s - Undertakes an annual refresh of the risk appetite statements. Metrics and tolerance levels
* Policy Content Owners – Undertakes annual refresh of applicable T1 policy
* Risk register reflects accurate view of BU risk exposure and control framework effectiveness with all mandatory fields populated
* Control frameworks regularly tested with improvement plans agreed and implemented. CRSA reports completed and returned
* Risk events proactively identified and reported with in process timeframes. Champions effective and timely resolution with thorough Root cause analysis performed and impacts fully understood
* Tier 1 policies communicated through function/team, policy self-assessment performed and policy waivers sought where necessary
* Internal Audit / Compliance Monitoring / Group Risk themed reviews do not identify any material unknown risks/weaknesses
To be successful in this role, you will need to be/have:
* Professionally qualified, where required and educated to degree level or equivalent.
* Significant relevant industry experience with a demonstrable track record of undertaking similar roles.
* Operationally and commercially focused on business drivers and outcomes.
* Strong experience in managing and implementing required functional and technical knowledge across financial services organisations.
* Strong understanding of the financial drivers and methodologies for UK Life and Pensions organisations.
* Good understanding of UK life and Pension industry accounting and actuarial aspects and its regulatory environment.
* Can communicate complex financial matters clearly and precisely.
* Experienced and trained in the use of required financial systems or similar as relevant to the role.
* Experience in managing a team of up to 10 people
* Good understanding of Solvency II requirements where they impact Asset valuation.
* Full knowledge and understanding of GAAP and financial reporting requirements etc.