Description
Senior Accountant - Solvency 11 - regulatory financial reporting
Rate: £450 -£525 p/d depending on experience
Location: Windsor
Our client, a leading organisation is looking for an experienced Senior Accountant with a strong Solvency 11 background. As the Senior Accountant, you will be responsible for ensuring the company's regulatory financial reporting requirements are fully met. (It is authored by the PRA and regulated by the PRA and FCA. For Solvency II purposes the company operates a partial internal model.)
Key Responsibilities
- Prepare SII quarterly and annual QRTs
- Produce SII actual and forecast balance sheets including determination of SII premium provisions
- Liaise with auditors to achieve effective sign-off of SII submissions
- Lead the relationship with third party providers of SII software
- Contribute to Standard Formula determination
- Close engagement with the company's actuarial function including support for determination of ENIDs, risk margins and actuarial function report.
- Update and improve SII documentation to the standards required of the PRA and management.
- Lead the preparation and development of financial information in the SFCR including benchmarking against insurance industry best practice feedback from the 2016 reporting cycle
- Contribute financial information to the annual Own Risk and Solvency Assessment (ORSA)
- Proactively review regulatory requirements, keeping up to date with new developments in requirements issued by EIOPA and the PRA.
- Prepare papers for the Board on SII matters as required
- Contribute to SII working groups in the insurance industry as required
Skills required
- The successful candidate will have detailed knowledge of Solvency II financial reporting requirements for general insurers and will have submitted Quantitative Reporting Templates (QRTs) and other ad hoc financial reports to the PRA using BEEDS. Also, the candidate will have made a significant contribution to the preparation of a Solvency and Financial Condition Report (SFCR).
- Proven Senior Accountant background
- Experienced in dealing with Auditors
- Bring best practice from other organisations.