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Job description


Job Title: Senior Associate, UK Regulatory Reporting
Job Code: 1132610

Skill Band: Finance
Location: United Kingdom - London

Type: Permanent
Date Posted: 3 Jun 2019

Senior Associate, UK Regulatory Reporting
One Lime Street,
London
About Us
The UK Regulatory Reporting team sits within Market Finance, led by the Head of Market Finance. The UK Regulatory Reporting team has primary responsibility for reporting the aggregated solvency position and coverage of the Lloyd's Market to internal and external stakeholders and managing the Lloyd's Market compliance with solvency reporting requirements.
The Role
To support: the production of the Aggregated Solvency Return for the Lloyd's Market and reporting the market wide solvency position and coverage to internal and external stakeholders; the provision guidance to the Lloyd's Market on solvency reporting requirements as applicable to Lloyd's syndicates; and the continuous monitoring of the Lloyd's Market solvency.
What Will You Do?
  • Contributing towards ensuring Lloyd's meets its regulatory reporting obligations in the UK with regards to the Lloyd's Market results, including:
    • Leading the process for preparation of the market wide Quarterly and Annual Solvency Return.
    • Leading the process for preparation of the Lloyd's Market Solvency and Financial Condition Report and Regular Supervisory Report.
    • Leading the process for the review of Lloyd's syndicates returns to assess the completeness and accuracy of submission and compliance with Lloyd's instructions.
  • Supporting the preparation of documents for regulatory applications and request for waivers related to regulatory reporting and updates to relevant solvency policy documents.
  • Updating guidance provided to the Lloyd's Market to assist in their completion of the Quarterly Solvency Returns and Annual Solvency Returns for syndicates.
  • Supporting the implementation of changes to the regulatory reporting framework and related changes to system for the Lloyd's Market in the UK.
  • Ensure process and controls for respective tasks are adequately documented and designed and operate effectively on a continuous basis.
  • Liaising with the external auditors to provide information needed for the audit of the Solvency and Financial Condition Report (SFCR).
  • Supporting the UK Market Reporting team, as required, in ensuring Lloyd's meets its financial reporting obligations in the UK with regards to the Lloyd's Market results, including:
    • Preparation of the schedules, workings and other information required for the production of the ProForma Financial Statements and Lloyd's Aggregate Accounts.
    • Review of the Lloyd's syndicates returns to assess the completeness and accuracy of submission and compliance with Lloyd's instructions
Management of Risk and Internal Controls
  • Responsible for ensuring that documentation of risk and controls for the UK Regulatory Reporting team is kept up to date and completed in accordance with processes.
  • Responsibility for reporting any failures in the system of internal control.
  • Updating the Senior Manager, UK Regulatory Reporting on any matters noted from review of syndicate information which may affect Lloyd's overall assessment of risk related to a syndicate.
What You'll Need
  • Ability to manipulate, analyze and review large amounts of data to very tight deadlines
  • Review quantitative information and readily identify queries and issues
  • Proficient in use of IT with the ability to learn applications e.g. Business Objects, XBRL
  • Communicate effectively with colleagues, senior managers and Lloyd's managing agent personnel both orally and in writing
  • Ability to identify problems and help implement solutions
  • Ability to prioritize tasks effectively
  • UK GAAP and IFRS generally and as applied to insurance entities
  • Knowledge of UK regulatory reporting requirements for insurers
  • Knowledge of Lloyd's syndicate UK regulatory reporting requirements and accounting practices
  • Familiarity with Lloyd's syndicate regulatory returns Quarterly and Annual Solvency Return Part A, Part B, Quarterly and Annual Asset Data Return
  • General knowledge of the Lloyd's Market
  • Experience of insurance accounting and Lloyd's syndicate accounting in particular
As the successful candidate, you can expect to be rewarded with a competitive salary, an enviable range of benefits.
To apply, please visit www.lloyds.com
We are committed to flexible working, therefore if you would like to consider this as a part-time opportunity, please email recruitment@lloyds.com
At Lloyd's we believe that innovation comes from having an inclusive culture of equality and diversity. We use ClearTalents to discover how we might help you feel welcomed, supported and able to do as well as you can when applying to work for us, including identifying any reasonable adjustments that we may need to make. Should you feel that you require reasonable adjustments during your application process we request that you please follow this link to create a ClearTalents user profile:
https://cleartalents.com/apply/lloyds-saurr1559572124

Industry
Insurance
Job Sector
Accountancy (Qualified)
Job Position
IAS/SOX/IFRS
City/Town
London
Address
London, UK Show on map
Post date
Closing date

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