Head of FC&A (m/f/d) *

Location
London , United Kingdom

Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance SE:

As specialty provider of primary insurance services in the UK, Great Lakes Insurance SE, UK Branch is a substantial part of our parent, Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE currently operates from its Head Quarter in Munich, and via branch offices in UK, Switzerland, Italy and Australia.

In the UK, Great Lakes has successfully obtained the authorisation from the Prudential Regulatory Authority (PRA) and Financial Conduct Authority (FCA) for a Third Country Branch and a Subsidiary. These two entities will secure our future in the primary insurance service market in a post-Brexit world, by enabling us to continue writing our existing business.

Your job

As a key member of the Finance Leadership Team, the Head of FC&A is responsible for leading, managing, monitoring and co-ordinating finance functions of Great Lakes UK branch and subsidiary (GLL). This includes preparing insightful financial analyses and managing the production of Finance Board Reports on a quarterly basis, coordinating Annual Business and Capital Planning process from a legal entity perspective and providing outsourcing oversight in terms of Investment management and reporting.

Key Responsibilities:

• Develop, produce and present quarterly Management reports and Board pack to provide ‘story behind the numbers’ which is supported by insightful analysis. Support management with the understanding and interpretation of the results on IFRS17 basis from 1.1.2023
• Actively participate and collaborate in designing efficient planning and reporting processes, coordinate closely with GLL senior management as well as Central Planning and Controlling function, with the main focus on GLLS legal entity Business Plan (including capital planning) to ensure its ability to achieve the maximum return on invested capital. Contribute to the risk management function including ORSA.
• Assist in the Result Monitoring and portfolio steering processes, with a focus on insights and analytics on results, trends & key indicators to provide own recommendations to address issues & opportunities in the portfolio.
• Member and secretary of Finance Investment Committee (FIC) of GLLS, be responsible for quarterly FIC meetings, prepare Committee meeting agenda, facilitate and participate Committee discussions, write meeting minutes and follow up on action points.
• Manage relationship with GIM and MEAG in respect of investment outsourcing arrangements, monitor and oversee their respective performance against GLL’s Investment Strategy, Mandate and overall investment performance targets.
• Collaborate with other teams in UK Finance to ensure good reporting data quality, commentary/analyses are meaningful and overall objectives are well aligned.
• Be a sounding board for a wide range of Finance issues, working together with the CFO and senior leadership team to design and shape the finance function
• Guide, motivate and develop the skills of a team and ensuring an appropriate and effective organisational structure

Your profile

Competencies:

Values differences You recognise the value that different perspectives and cultures bring to your department and the wider business. Thus, ensuring that your team dynamics are diverse and inclusive.

Situational adaptability You recognise the need to be flexible and adapt your approach depending on the situation.

Balances stakeholders You are able to anticipate and balance the needs of multiple stakeholders.

Drives engagement You create a climate where people are motivated to do their best to help the business unit and wider organisation to achieve its objectives.

Instils trust You gain the confidence and trust of others through honesty, integrity and authenticity, enabling successful collaboration.

Builds effective teams You build strong-identity teams that apply their diverse skills and perspectives to achieve common goals.

Develops top talent You develop key talent to meet both their personal and professional goals, but also the organisation’s goals and support manager’s within your team to support the development of their direct reports.

Key Skills & Experience:

• Business skills and commercial awareness - Extensive experience of general/insurance industry, ability to evaluate solutions for commercial opportunities and/or risks
• Financial Modelling – strong expertise in building and maintaining financial models, organising and modelling data in an efficient manner allowing financial models to be understandable, easy to update and reportable for internal and external stakeholders
• Analytical skills – approaching problem solving in a systematic way, recognising relationships and causal links while balancing detail with the ‘bigger picture’
• Managing change – a leading advocate of change where relevant; regularly initiating changes while planning and communicating appropriately
• Accounting and regulatory knowledge – IFRS 17/9; UK GAAP and Solvency II

Qualifications and Educational Requirements:

• Recognised accounting, business, or actuarial qualification (essential)
• Substantial post-qualification experience (essential)
• Proven leadership experience in a similar role (preferable)

About us

About Us

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.

Regulatory & Conduct Requirements:

Over the coming years, the branch will transition to a third country branch to continue to operate post Brexit. Therefore, in addition to the responsibilities set out above, the Head of FC&A UK role/function will also become responsible for:

• Ensure compliance with Insurance Distribution Directive
• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules