Head of Financial Close

Location London
Discipline: Finance & Strategy
Job type: Permanent
Salary: £100000 to £125000
Contact email: dan@weareedenbrook.com
Job ref: J3706
Published: 29 days ago
This market-leading insurance & investment organisation is seeking a Head of Financial Close to lead a team that is responsible for the administration of the financial close process, which consists of producing a full and whole ledger (interfaces, reconciliations and both actuarial and monetary journals) as well as cost, project, investment and tax accounting for the Group and its subsidiary companies. Key Responsibilities and Accountabilities: •Responsible for owning the risks faced by their business area, managing the control framework and implementing and embedding all elements of the Risk Management System (RMS) •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 •Undertake stress test and scenario analysis to identify current and potential risks •Ensures Emerging risks are identified and communicated through to local Risk committee and Emerging Risk forum Close Process: •Ensure all inbound data feeds (e.g. from policy administrations systems) are delivered to the accounting and actuarial solutions as required to support with the close •Ensure appropriate accounting reconciliations and journals are completed on a timely basis and that non-reconciling items are appropriately resolved •Ensure appropriate standards are maintained throughout the group for financial accounting which comply with accounting and tax legislation •Manage completion of all non-insurance accounting (incl. cost, project, investments and tax accounting) and deliver to the consolidation team. Policy data (revenue) hits ledger by means of automated and some manual interfaces from Policy Admin systems. Liability information provided by Group Actuarial, with a Liability template being fed into Oracle for UK GAAP. Investment Accounting: •Oversee the outsourced investment custodian and ensure robust processes are in place and followed •This includes site visits to the banking provider’s operational locations •Undertake appropriate investment valuation and operational oversight You will need to be able to display you have the following qualifications and experience: •Minimum of 10 years’ experience in financial management/operational role, ideally within the financial services industry •Detailed up to date knowledge of accounting legislation •High level of knowledge and understanding of accounting issues for a Life assurance business •High level influencing skills with proven success in influencing directors and senior managers in a large business •High level knowledge of financial systems and how they interact together •Good communication skills, both face-to-face and report writing including the ability to present complex information clearly and accurately