Our client is a Bermuda based Reinsurer and Consolidator with a proven track-record of successfully acquiring and operating portfolios or direct insurers in Europe, primarily those in run-off. The company focuses on annuity, guaranteed savings or protection product lines. Mindful of the impact of acquisitions or transfers on staff and policyholders, the company seeks to work with the seller in these situations.
Due to continued business growth, the Company is looking to hire a Group Controller, who will report to the Chief Financial Officer. Working within an entrepreneurial, fast – moving and deal- oriented environment, the post-holder will be the deputy head of finance, responsible for financial management across the group in support of corporate decision making.
The role is ideally suited to an Actuary or Chartered Accountant with requisite financial management and leadership experience, ideally gained within the Life Re/insurance sector; or from a professional services background at Director level or equivalent.
Key responsibilities will include to:
- Contribute effectively to the setting of the overall strategic financial objectives of the Company;
- Prepare the Company’s external financial reporting to the Bermuda Monetary Authority and other regulatory bodies;
- Prepare accurate and timely monthly consolidated financial information;
- Liaise with the Company’s finance and actuarial teams in Ireland, London, Europe, to coordinate the control environment and to ensure accurate compilation of financial and actuarial data;
- Stay current with developments in UK GAAP, IFRS and Solvency 11 regulations, on a proactive basis;
- Develop financial information systems to support the delivery of information to management including operational, actuarial, financial planning, budgeting, credit control, and cash management areas;
- Design, implement, and monitor control systems to safeguard the Company’s assets; including accounting policies, procedures and practices within the organization;
- Support the CFO in the preparation of the consolidated Business Plan and forecast. Prepare and monitor operating budgets of operating units;
- Co-ordinate the annual audits by liaising with the external auditors;
- Provide leadership to the finance team, including direct reports: Head of Group Finance; and Head of Technical Accounting;
- Liaison with investment managers, custodians and investment accountants in respect of reporting the activities of the investment portfolios;
- Lead special projects as required.
Required Skills and Qualifications:
- Qualified Chartered Accountant (ACA, CA, CPA etc.) or Actuary (FIA, FSA etc.), with requisite financial leadership experience as Financial Controller, Head of Finance, or equivalent role. Experience in a multi-national, group structure would be preferable;
- Financial leadership experience gained in a Solvency II regulated entity;
- Strong, technical Life re/insurance financial and accounting experience is strongly preferred; candidates from P&C insurance backgrounds will be considered;
- Current knowledge of UK GAAP and IFRS reporting for the insurance industry; experience of Bermuda statutory and Economic Balance Sheet reporting, would be preferred;
- Strong quantitative and analytical skills, conversant with actuarial analysis and reporting;
- Demonstrable experience in identifying and driving systems and process efficiencies;
- Strong communication and organization skills.