FM is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in a variety of challenging roles.
We currently have an exciting opportunity for a Solvency II Senior Accountant to join the International Finance Team based in either the Luxembourg or the London office.
ResponsibilitiesThe main responsibility of this position is to prepare and support the filing and ensure compliance of all Solvency II requirements in EMEA and the UK. This role will also support the development and improvement of controls, processes and calculations which underpin the regulatory reporting processes, to ensure they are efficient and consistent.
This position will contribute to the successful delivery of quarterly and annual Solvency II related accounting, calculation, and reporting work, including:
Solvency II pillar 3 reporting Quarterly Solvency II reporting (QRTs and commentary).Annual reporting (QRTs and commentary).For FMIE and the UK branch of FMIE Plus SFCR annual reporting, and the RSR every 3 years for the FMIE legal entity.Calculation of Solvency II regulatory capital resources
On a quarterly and annual basis for FMIE and the UK branch of FMIE.Calculation of Solvency II technical provisions
For FMIE and the UK branch of FMIE.Quarterly and annual reporting (including commentary and interpretation of results).Production of claims triangles / claims reporting for European regulators.Calculation of the Solvency Capital Requirement (SCR) using the standard formula
For FMIE quarterly and annual reporting.Plus, commentaries and interpretation of results.Ad hoc SCR modelling to respond to business changes.Support the delivery of the annual Own Risk and Solvency Assessment (ORSA) process using the SCR model, including:
Production of the ORSA report (FMIE and UK branch).Calculating the SCR over the period of the business plan, including interpretation and analysis of the results.Performance of sensitivity and stress testing.Ad hoc SCR modelling to respond to business changes.As new regulatory requirements or organisational changes arise, this position will conduct analysis on the new rules or requirements and identify the impact on capital resources and capital requirements and reporting processes and outputs.
Another key responsibility of this position is to support risk appetite monitoring framework, in accordance with tolerances established by the Risk Management Committees.
This position will also be responsible for supporting the maintenance of various internal policies in line with Solvency II requirements e.g., investments, technical provisions, actuarial function, expert judgement etc. for the regulated entities in the EMEA and UK.
Qualifications Education: Bachelor’s degree in finance/accounting (or other business degree with strong relevant work experience).Proven relevant experience in Solvency II including pillar3 reporting, ORSA calculations etc. and having performed the full cycle of reporting (both quarterly and annual).Qualified accountant (ACA/ACCA or equivalent).Excellent knowledge of UK GAAP or Luxembourg GAAP, along with good understanding of non-life insurance industry accounting practices.Strong attention to detail.Flexibility and the ability to adapt to changing priorities and deadlines.Strong analytical thinking and critical thinking skillsStrong written communication and interpersonal skills with the ability to work independently.Proficiency with financial systems and standard software applications (e.g., PeopleSoft, Microsoft Excel, Access, PowerPoint and Word).In return, you will receive a competitive benefits package which includes:
Final Salary Pension SchemePrivate medical insuranceIncentive PlanFitness Reimbursement Plan2 Global Well-being days per annumAnnual Volunteer DayEmotional well-being and mental health assistance programmeFM is a people-driven business. It is our ability to harness the power of our diversity that allows us to create the unique, world-class services we’re known for.
We’re committed to attracting a talented and diverse workforce and fostering a culture of inclusion that allows diversity to thrive and seed innovation.
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