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This role is responsible for the preparation of all Regulatory returns including PRA Returns, NAIC Return, US Trust returns, ABI returns and other ad hoc requests, as well as internal capital monitoring.
The incumbent will play a significant role in ongoing automation initiatives and related ad hoc regulatory requirements as well as assisting with the implementation of new financial and regulatory reporting requirements, especially new / proposed requirements such as Solvency II and IFRS across the UK Platform.
Main Duties:
- Responsible for preparing and reviewing all regulatory returns including PRA Returns; US Trust Returns; NAIC Returns; ONS Returns; IAIS Returns, ABI Returns, IUA Returns. with assistance from the Regulatory Reporting Accountant.
- Ensure ongoing compliance with the all the regulatory capital requirements, in addition to Client’s policies and procedures.
- Support and assist with system improvements and documentation of controls and procedures in respect of regulatory processes.
- Enhance the control environment for producing the regulatory returns.
- Plan and coordinate the preparation and review process of regulatory returns prior to submission.
- Prepare detailed working papers to support the review of regulatory returns.
- Perform detailed validation work and analytical review on the data collected and address or escalate any unexpected results or inconsistencies in data.
- Apply expert knowledge of financial concepts and principles to Regulatory Reporting and clearly document any conclusions reached.
- Communicate results to manager and provide visibility into details of underlying work, key assumptions and conclusions made.
- Drive operational excellence in above areas and offer solutions to further enhance processes.
- Provide guidance and direction to the Regulatory Accountant in all areas, in accordance with the duties of a line manager.
- Deal with any queries from the Auditors.
- Assist with the implementation of Solvency II and IFRS.
- Engage with ad-hoc projects to ensure that all issues are resolved and fully reported.
- Responsible for development of own technical insurance knowledge.
- Assist with other finance projects as required.
- Raise the capability and reputation of the UK Finance Regulatory team.
Education/Experience
- ACCA/ACA/CMA qualified accountant with experience of Regulatory Reporting.
- Experience of PRA reporting would be beneficial.